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China's Sinotrans Air Transportation sees net profit up 50-100 pct

Posted by | Jul 16, 2008 | |

Sinotrans Air Transportation Development Co Ltd said first half net profit is expected to have risen by 50-100 pct year-on-year due to the sale of a stake in its joint venture with Deutsche Post AG.

In December 2007, the company agreed to seel its entire stake in 50-50 joint venture Exel-Sinotrans Freight Forwarding Co Ltd to its partner Deutsche Post for 61.04 mln eur.

In a statement filed with the Shanghai Stock Exchange, the company said the deal was completed in the first half and revenue from the sales was reflected in its first half books.

The company realized a net profit of 283.91 mln yuan in the first half of 2007, or earnings per share of 0.31 yuan.

Sinotrans Air Transportation, a subsidiary of Hong Kong-listed Sinotrans Ltd, is due to release audited first half financial results on Aug 27.

(1 usd = 6.8 yuan)

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DPD launches new modeshift campaign

Posted by | Jul 16, 2008 | |

DPD has launched a new modeshift campaign promoting its product DPD Classic and committing itsself to sustainable development under the slogan “Why fly parcels in Europe?”.

As part of the new campaign, the multi-language website www.whyflyparcels.com represents different aspects of DPD’s sustainability strategy introducing the modeshift concept as well as the ECO Calculator. This web-based calculator which calculates the CO2-equiv. emissions representing all green house gases produced during the transportation of package consignments by road and in the air.

The company’s strategy for ecologically and economically sound trade is helping shippers make a better choice. With whyflyparcels.com DPD shows that flying parcels within Europe can create up to eight times more CO2 equiv. although air freight remains the ideal method of transport for goods are required urgently such as relief supplies, high-value goods or spare parts that need to be transported over great distances. The company points out that there are numerous non time-critical goods and that could easily be transported by road and not by air.

The ECO Calculator allows customers to compare the effects of the two transport modes by road and by air on climate change. The simulation is based on a totally virtual network and uses data to reflect the reality in a best possible way. It has been supported and assisted by an independent sustainable development agency O2 France relying upon expert sustainable development knowledge.

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Emirates Post and China Post sign deal to enhance cooperation in postal and financial services

Posted by | Jul 16, 2008 | |

Emirates Post and China Post have entered into an agreement to boost bilateral relations, with a focus on international electronic remittance, improvement in EMS (Express Mail Service), wider use of Dubai Transit Mail Hub and better marketing of the international postal service. The visit came as a sequel to a visit by a China Post delegation to Emirates Post in April, in which both sides decided to initiate moves to enhance bilateral business ties. According to the details of the agreement, International Electronic Remittance will be provided by both parties through the International Financial System (IFS) of UPU. Both sides will conduct joint promotion and marketing activities of the service that will be launched at the end of October 2008. China Post Group will consider using the Dubai Mail Transit Hub for mail items originating in China and dispatched to Middle East and Europe. Both parties will negotiate with airlines for better rates. In the field of EMS, both parties agreed to raise the weight limit of a single EMS item to 40 kg. Both parties will work together to launch time-specific services between the two countries. Emirates Post and China Post will work jointly to market customer-oriented postal services in both countries. The Emirates Post delegation visited various facilities of China Post, including the world’s largest sorting centre in Shanghai.

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EU launches state aid probe into former SNCF division Sernam

Posted by | Jul 16, 2008 | |

The European Commission said it is launching an investigation into aid granted by the French authorities to Sernam, the former road and rail transport services operator of France’s national railway company, SNCF.

The investigation will focus on the implementation by France of a 2004 commission decision authorising aid of 503 million euros to Sernam, which also required repayment of 41 million euros already received by the company.

The commission has received complaints Sernam was not sold in accordance with the conditions imposed by that same decision and the 41 million euros has not been paid back.

The launching of this in-depth investigation will allow all interested parties to express their points of view. It does not prejudge the Commission’s final decision.

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Postbank drops the most in trading with concerns over sale (GER)

Posted by | Jul 16, 2008 | |

Deutsche Postbank AG dropped the most in six months in Frankfurt trading on concern the company’s sale may be delayed.
Bonn-based Postbank declined 3.68 euros, or 7.3 percent, to 46.77 euros. The stock fell as much as 9.9 percent earlier in the day, the biggest drop since the initial public offering in June 2004, valuing the bank at 7.67 billion euros (USD 12.2 billion).
“In order to receive a satisfying price, we would consider it rational for Deutsche Post to postpone the selling process without a feasible German buyer right now,” Carsten Werle, a Frankfurt-based analyst at Sal. Oppenheim, wrote to investors. He lowered his recommendation on the stock to “reduce” from “buy.”
Deutsche Bank AG, a likely buyer, faces “unreasonable economic terms” in the current environment to raise financing for the acquisition, Werle said. A takeover of Postbank and the high cost would dilute Deutsche Bank earning by as much as 22 percent, Werle estimates. Deutsche Post, Europe’s biggest postal service, said on June 25 it is holding “exploratory” talks about a sale of its majority stake in Postbank.

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FedEx trials diesel-electric hybrids in Italy

Posted by | Jul 16, 2008 | |

FedEx is trialling 10 Iveco diesel-electric hybrid Daily vans in its Italian operation. Iveco claims the vans offer a 30 pct cut in fuel use and CO2 emissions over a standard diesel model, through a number of systems such as Stop & Start and regenerative braking.

Paolo Monferino, Iveco’s CEO, says: “We are committed to the development of this technology and the next step is to make it affordable for our customers. In order to meet customer demand, Iveco will
will introduce hybrid power train technology in our vehicle production facilities by the end of 2009.” The vehicles will be used on routes between Milan and Turin, but FedEx will test more of the vehicles in its Paris operation.

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German cabinet approves minimum wage extension

Posted by | Jul 16, 2008 | |

Chancellor Angela Merkel’s government approved a draft law on Wednesday that could nearly double the number of German workers protected by a sectoral minimum wage.
Labour Minister Olaf Scholz’s plan to enable more sectors of the economy to introduce a minimum wage has come under fire from employers and been a sticking point in the ruling coalition of conservatives and centre-left Social Democrats (SPD) for months.
Scholz from the SPD, and Economy Minister Michael Glos, a conservative, came to an agreement late on Tuesday and the draft legislation was approved by the cabinet on Wednesday morning, government officials said.

A sector-specific minimum wage already applies to about 1.8 million employees in Germany across seven sectors, among them construction workers and postal delivery staff.

A further eight sectors, ranging from temporary workers to security personnel and comprising about 1.6 million employees, have sought inclusion in the minimum wage framework.

Germany’s total workforce numbers around 40 million.

The draft law allows for an extension of the so-called “Entsendegesetz”, an existing law which enables sectors of the economy to set their own minimum wage, but does not specifically name which new sectors will be included.

A working group under Scholz’s supervision has been charged with reconciling coalition differences over the new sectors.

The SPD has pushed for a blanket minimum wage for all, but Merkel’s conservatives reject this.

Glos, a member of the Bavarian Christian Social Union (CSU), was a particularly robust opponent of Scholz’s plans but dropped his opposition after a conversation on Tuesday evening with Merkel.

Merkel has softened her opposition to the idea of sector-wide wage deals since taking power in 2005 and had pushed for a compromise.

Glos succeeded in winning some concessions, notably an agreement which ensures government-decreed minimum wages are not permanent. That would theoretically allow a new government to reverse the wage law.

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U.S. Postal Service to remove vending machines

Posted by | Jul 16, 2008 | |

The U.S. Postal Service is removing vending machines from all of its locations nationwide. The machines will be removed in phases.

The vending machines are the victims of technology, competition and aging parts, said Ray Daiutolo, U.S. Postal Service spokesman for the Central Pennsylvania region.

The U.S. Postal Service can no longer find parts for its 12,000 aging vending machines, he said.

Perhaps the biggest reason the machines are going the way of the pay phone is because people no longer want to use them.

People are buying their postage on the postal service’s Web site, and through its “stamps by phone” and “stamps by fax” services.

Consumers also can find stamps at most grocery stores and some banks offer them at their automated teller machines.

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