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Postal Savings Bank of China Launches 10 Investment Products

Posted by | Jun 20, 2008 | |

Postal Savings Bank of China, the country’s fifth largest bank, made a plan to introduce 10 investment products in June, the China Post News reported.

The bank has launched nine investment products named Fortune No. 5 to No. 13 from Jun. 5 to Jun. 26, which will bring in RMB 5.56 billion for the bank. Another product targeted at the bond market is expected to be issued from Jun. 16 to the end of this month, which will provide investors with more choices and stable proceeds with a lower investment risk.

Postal Savings said the bank will continue to concentrate on the R&D of investment products with lower risk and more profit. Meanwhile, it will be engaged itself to improve the management system and risk control measure of its personal financial services.

Approved by the China Banking Regulatory Commission (CBRC), the Postal Savings Bank of China was established in March 2007.

1 USD = 6.87500 CNY

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Chinese logistics leader Sinotrans in merger talks

Posted by | Jun 20, 2008 | |

Sinotrans, a DHL joint venture partner, is in talks with river shipping company China Yangtze Transportation Group to create a new national logistics giant.

In a brief statement, Sinotrans Ltd, the Hong Kong-based listed subsidiary of the Sinotrans Group, said this week that its parent company “is considering a possible merger” with China Yangtze Transportation Group, and is currently “in discussions on the key aspects of the possible merger”.

According to reports from China, a merged group could operate under the name China Logistics Group and would be a national logistics leader with activities ranging from express (through the DHL-Sinotrans joint venture), freight forwarding and warehousing to river and ocean shipping. The activities could then be re-organised between Sinotrans Ltd and the separate, listed company Sinotrans Shipping Ltd.

DHL, which had invested some USD 600 million in the country over the last five years, will open a new North Asia air hub in Shanghai in 2010 and is also expanding its main hub at Hong Kong.

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Azkar opens logistics centre in China

Posted by | Jun 20, 2008 | |

Azkar Overseas has officially opened its logistics facility in the city of Shanghai. Manned by expert personnel, speaking Chinese, Spanish, English and Russian, Azkar is operating closer to its customers not only in China but across Southeast Asia, offering value added services at origin (labelling, checking and preparation of orders) and assisting in the consolidation of loads out of ports.

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DHL urged to discuss terms with ABX and ASTAR (U.S)

Posted by | Jun 20, 2008 | |

Ohio legislators have called on DHL’s German-owned parent company to hold talks and discuss terms with ABX Air and ASTAR Air Cargo on the airlines’ proposals to remain DHL’s air carriers in the United States.
The June 16 letter, signed by both of Ohio’s U.S. senators plus eight Ohio members of Congress, presses Deutsche Post World Net (DPWN) in the final paragraph to give “genuine consideration” to proposals from current carriers ABX and ASTAR.
DPWN announced in late May it plans to contract with United Parcel Service (UPS) as the lone air carrier to transport DHL packages in North America. If the plan is carried out, it’s expected to directly cause the loss of at least 7,000 jobs at the Wilmington Air Park where ABX and ASTAR are based.
The focus of the letter to Jurgen Weber, Chairman of the Deutsche Post Supervisory Board, centers on what the legislators apparently view as a lack of interest or effort by DPWN to enter into the bargaining process with DHL’s existing air carriers.
Similarly, the letter’s first paragraph says, “… we ask that you allow incumbent carriers to present alternative proposals to DPWN before making a final decision.”
The letter concludes that the lawmakers would welcome an opportunity to help facilitate presentations of ABX’s and ASTAR’s proposals.
Referenced in the Ohio lawmakers’ letter is a possible direct loss of more than 8,000 jobs. The same sentence says there could be “an additional 30,000 downstream jobs” indirectly lost in southern Ohio.
The letter was released by U.S. Sen. Sherrod Brown’s office.

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MRW opens franchise stores in Spain

Posted by | Jun 20, 2008 | |

Spanish express carrier MRW has opened another four franchises in Spain. The new outlets are in Barcelona, Badajoz (Extremadura), Segorbe (Valencia) and Villajoyosa (Alicante).
MRW has 810 franchises in Andorra, Spain, Gibraltar and Portugal.

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Gap between domestic and cross-border e-commerce grows wider, says EU report

Posted by | Jun 20, 2008 | |

EU Consumer Commissioner Meglena Kuneva today announced the results of a new EU wide survey on e-commerce and cross border trade. The figures show that even though e-commerce is taking off at national level, cross-border e-commerce is failing to keep pace. From 2006 to 2008, the share of all EU consumers that have bought at least one item over the internet has increased significantly (from 27pct to 33 pct) whilst cross border e-commerce is stable (6pct to 7pct). The pattern is similar for those with internet access at home – 56pct of consumers with internet at home have made a purchase (in any country including their own) by e-commerce compared to 50pct in 2006, while only 13pct (of those with internet access at home) made a cross-border e-commerce purchase compared to 12pct in 2006.
“These figures underline how much work we still have to do to boost confidence in the online internal market” said European Consumer Affairs Commissioner Meglena Kuneva. “Consumers and retailers are beginning to embrace e-commerce at national level but internal market barriers still persist online. The potential of the online internal market to deliver greater choice and lower price to consumers and new markets for retailers is considerable. We need to redouble our efforts to tackle the remaining borders.”
Amongst retailers, the cross-border potential of e-commerce seems not to have been fulfilled: 51pct of EU27 retailers sell via the internet, but only 17 pct of e-commerce revenue of those who sell cross-border stems from cross-border sales – as compared to 16pct in 2006. There appears to be a lack of confidence in cross-border shopping on both sides of the market, although consumer confidence appears to be growing: while 37pct of consumers said they would be more confident making online purchases from sellers/providers located in their own country, 57pct said they are equally or even more confident making purchases online from sellers in another EU country. This figure is up by 8pct compared to the 2006 survey.
The report published today was compiled from two Eurobarometer surveys on Businesses and Consumer attitudes to cross border trade. Data gathering was carried out in February – March 2008 amongst more than 26.000 consumers and 7.200 businesses in the 27 EU-countries and Norway.

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Azkar opens new office in Shanghai

Posted by | Jun 20, 2008 | |

The opening of Azkar Overseas new facilities, the subsidiary of Transportes Azkar, S.A., has been today in China specifically in Shanghai city. The act has been present, among others, Executive Vice President and CEO of Azkar, Jose Antonio Orozco, as well as the Mayor of Lugo, Jose Lopez Orozco, and Vice Chairman of the County Council, Lara Mendez, both were in a trade mission in China.

Azkar moves to another bigger facilities that it will be managed by a group of expert professionals fluent in Chinese, Spanish, Russian and English.

Azkar has the capacity to coordinate directly the providers with the suppliers of its customers in Asia, with China as the main point of origin, but without ruling out other countries of the Asia Southeast Region. The Company also offers high-performance logistics services for storage, order preparation (including kitting, assembly, mounting, etc), mercahandise control and distribution, as part of the integral service.

In this manner, AZKAR offers its customers a powerful international network for the management of imports and exports of goods, from any origin or destination in the world outside Europe, through Azkar Overseas, as in Europe traffic through Azkar Bisa International, or at the Iberian Peninsula and islands. The company has 73 facilities in Spain and Portugal, more than 500,000 m2 built on more than 1 million m2 of land, 5,000 employees and a fleet of 2,400 trucks.

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