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TNT offers talks while postal workers strike

Posted by | May 20, 2008 | |

Postal company TNT has invited postal workers’ unions to meet on Friday in an effort to end the impasse over their wage demands.

The invitation comes on the second day of a new series of industrial action, which began on Monday 19th May in The Hague and affects Nieuwegein.

TNT hopes the unions will attend the meeting to try and break deadlock. The CNV union says it would be impolite to turn down an invitation.

Postal workers want a rise of 3.5 pct in wages this year. TNT is offering 1.5 pct this year and another 1.5 pct in 2009.

A 30-hour general strike is planned for May 28.

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Japan Post Bank to invest Y1 trln overseas

Posted by | May 20, 2008 | |

Japan Post Bank, the country’s largest bank, plans to invest at least 1.0 trillion yen (USD 9.59 billion) in overseas assets in the financial year to next March, the Nikkei newspaper reported on Tuesday.

The report, citing no sources, said Japan Post Bank plans to invest in European and U.S. corporate bonds including securitised products through overseas asset management firms, tapping their expertise in investing in attractive, but high-risk corporate bonds.

The report said Japan Post Bank itself plans to invest in triple-A rated corporate bonds.

The report gave no details about allocations by currency or product type. It cited BlackRock as a possible asset mangement firm Japan Post Bank could cooperate with.

The report said the bank plans to gradually boost the amount it invests overseas, while seeking to limit market impacts.

Japan Post Bank is one of four business units created within state-owned Japan Post on Oct. 1 to begin a 10-year privatisation process.

At the end of September, the bank held some 181 trillion yen (USD 1,735 billion) in postal savings, of which nearly 90 percent was invested in domestic bonds, with only marginal shares in stocks and foreign assets. (USD 1=104.31 Yen)

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China Post Group wins approval to set up life insurance unit

Posted by | May 20, 2008 | |

The China Insurance Regulatory Commission (CIRC) said it has given its approval to China Post Group, a 10 bln-usd company formed out of the State Postal Bureau, to set up a life insurance unit in Beijing.

In a statement dated April 30, the CIRC said the unit will have registered capital of 500 mln yuan.

China Post is expected to operate its insurance business through the postal network.

The group has a 50-50 insurance joint venture, Sino-French Life Insurance Co, with France’s CNP Assurances.

Sino-French Life reported premium income of 8.16 mln yuan in the first three months.

(1 USD = 7.0 Yuan)

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Siemens wins USD 245M contract from US Postal Service

Posted by | May 20, 2008 | |

Siemens AG said Tuesday it has been awarded a USD 245 million contract from the U.S. Postal Service for 550 mail sorting systems.

The new system, called the Advanced Facer Canceller Systems 200, will replace the Postal Service’s existing mail sorters, which have been used for almost 20 years to cancel first-class mail.

Siemens said the new system responds to the decline in first-class mail in recent years by allowing the Postal Service to improve performance while reducing the total number of machines.

Production and installation of the mail sorting systems is expected to be completed by March 2011. The contract also includes the delivery of ancillary equipment, spare parts, training and support services.

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FedEx again No. 1 on satisfaction index

Posted by | May 20, 2008 | |

FedEx Corp. announced Tuesday the company has been rated No. 1 in customer satisfaction in its industry and also first overall among about 130 companies rated by the University of Michigan’s American Customer Satisfaction Index.

The ACSI is the only national, cross-industry measure of the quality of U.S. economic output and scores companies based on customer expectations, quality, value and intention to re-purchase.

This quarter’s rankings place Memphis-based FedEx at the head of the express delivery industry, with a score of 85 out of 100. The industry average for 2008 is 82. The ACSI overall score is 75.2.

FedEx has been rated No. 1 in its industry for 11 consecutive years and for 13 of the last 14 years. During that time, FedEx also was rated among the top 25 companies overall when comparing scores from about 380 businesses reviewed by the ACSI.

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DHL becomes official shipping partner for Strike Ten Entertainment (U.S)

Posted by | May 20, 2008 | |

DHL announced today that it has won a three-year, multimillion-dollar agreement with Strike Ten Entertainment, the marketing arm of the Bowling Proprietors’ Association of America (BPAA). Under the new agreement, DHL estimates it will ship an annual 20 million pounds of product and equipment to and from bowling centers, manufacturers and distributors.

BPAA’s network of more than 3,400 bowling centers will be able to take full advantage of DHL’s domestic and international network for shipping marketing materials, equipment and merchandise.

As part of the agreement, DHL will also have a brand presence at upcoming bowling conferences through the placement of DHL shipping stations and trade show booths. In addition, DHL will be highlighted in direct mail and e-mail campaigns, and in rotating advertisements on the Web sites for the United States Bowling Congress (www.bowl.com) and the BPAA (www.bpaa.com).

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DHL plans to make importing easier

Posted by | May 20, 2008 | |

DHL Express has launched a new campaign to drive growth for DHL Import Express Worldwide, a door–to–door import service solution aimed at simplifying the importing process for its millions of customers.

Import Express Worldwide offers an all inclusive package that combines speed, reliability, and service, states a press release. DHL makes importing simple.

DHL Caribbean’s first fully integrated campaign, it will run from May to December and will include print, interactive, radio advertisements, as well as direct mailers.

The new programme is efficient, reliable and convenient. It is an import service solution that simplifies all import procedures and offers customers a one–stop–shopping solution that manages everything from the logistics and process of an import order to customs clearance. It is the ideal solution for the precision manufacturing, automotive and media industries, among others.

With DHL Import Express Worldwide, the Cayman Islands’ customers can now enjoy the benefits of a have to come expect from DHL Express.

That level of customer service is exemplified in many ways including a dedicated customer service centre where importers have access to a group of have to come expect from DHL Express.

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Gati expands but profits drop

Posted by | May 20, 2008 | |

Leading Indian road express trucking company Gati recorded a turnover increase of 5.4pct but a 52.6 pct drop in net profit for the first quarter of 2008 due to rising costs. It has also introduced a new air express service and established Singapore as its regional headquarters.

The company’s turnover grew 5.4pct to Rs 1.47bn (EUR 22.1 million) during January-March 2008. The net profit, however, fell by 52.6pct to Rs 32.2 million (EUR 0.5 million) due to a large increase in operating costs.

Separately, the company has launched a new service “Gati Air Express” offering next day delivery to around 30 locations nationwide and next day before noon delivery across nine local locations to meet customer demands. The company has established a fleet of dedicated freighters and multimodal network to ensure that shipments arrive on time providing seamless connectivity across air, road, ocean and rail.

Meanwhile, Gati has chosen Singapore to become the company’s regional headquarters profiting from the country’s strategic location to expand its business activities into the fast-growing Asia region and beyond and thus strengthen its international network.

Today, Gati has offices in China, Singapore, Japan, Dubai, Hong Kong Thailand, Nepal and Sri Lanka and plans to foray into other markets. Gati International’s revenues have grown from SGD 2.0 Million (EUR 937,116) to SGD 9.6 Million (EUR 4.5 million) over the last 3 years.

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