Author: Archive

Japan PB resumes remittance service to Iran

Posted by | Jan 22, 2008 | |

Japan Post Bank announced here on Tuesday that it will continue remittance service to Iran, despite the gossips heard regarding the suspension of services to Iran.

Dispatching the remittances services will be continued until Aug. 2008, according to the contract between the sides and the bylaw of the Universal Postal Union (UPU) and the guidelines of the Postal Financial Services Group (PFSG) which was coordinated on Aug. 9, 1999.

The reason the bank cited about the formerly news of suspension was the US sanctions against Iranian banks from October 25. Japan Post Bank said that intermediary banks in the chain to its Iran transfers were unable to continue dealing with the three largest state-run Iranian banks, as a result of these sanctions.

This was an unusual move for Japan, which has maintained cordial relations with Iran after the Islamic Revolution in 1979. Though numbers are disputed, a large number of Iranians are reported to live in Japan. The number of remittances to Iran processed by the Post Bank was around 200 annually, with a value of around USD 450,000.

Japan Post Bank will disperse risks and diversify earnings sources, by diversifying means of investments (into trading of derivatives, acquisition and sales of monetary credits, syndicated loans, securitized products, beneficiary rights, and investments in stocks), while controlling interest rates-associated risks appropriately and will strengthen channels of post office networks, by providing its infrastructure and sales support tools, improve the compliance system, help improve quality and enhance training programs.

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SingPost and BNI offer new remittance service to Indonesia at post offices island-wide

Posted by | Jan 22, 2008 | |

Singapore Post Limited (SingPost) and PT Bank Negara Indonesia (Persero) Tbk (BNI) announced that they will offer a new remittance service to Indonesia at 51 designated SingPost branches (post offices).

CASHOME is a fast, convenient, yet secure remittance service that allows the sender to remit money into a recipient’s bank account maintained with BNI in Indonesia. A fast remittance transfer time is in store for customers as funds remitted by the sender through the post office before 3pm will be received by the recipient on the same day.
Funds remitted after 3pm will be received by the recipient on the next business day. The money will be credited directly to the recipient’s bank account maintained by BNI.

Customers can use their NETS card or cash to remit funds to their recipients who can access the funds at BNI’s wide network of over 970 branches and close to 20,000 ATMs across Indonesia. They will also enjoy the convenience of using the CASHOME card for the initial and subsequent transactions. A CASHOME card is an identification card for customers to use to remit money to their recipient, saving them the hassle of filling out forms each time they need to remit money. A one-time registration of the CASHOME card is required only.

As SingPost is committed to safeguarding customers’ personal information and privacy,
customers can enjoy peace of mind in knowing that their funds are in safe hands when they remit money with Singapore’s public postal licensee.

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Correos to cut rural delivery service (Spain)

Posted by | Jan 22, 2008 | |

The Government has given Correos the permission to abandon deliveries to homes that are more than 250 metres from a main road

The Spanish post office, Correos, is to stop home deliveries in isolated areas. In a little publicised move, a decree from the Ministry for Development now allows Correos to cancel the delivery of letters and packages to homes where there is a low density of housing or to isolated homes.

Under the new regulations Correos will no longer be obliged to deliver to houses that are more than 250 metres from a main road.

The rural areas of Galicia are expected to be those most affected by the move. According to the 2001 census, some 445,000 people in the region could thus lose their postal delivery service. Correos suggests that in such areas the home owners collect their post from a community letter box which Correos will locate at a place decided in agreement with the local town hall and neighbourhood associations.

Postal union CIG is not happy. They say that in Galicia alone it means that 400 of the 1,200 postmen and women in the region are likely to lose their jobs, while the company insists that no jobs are to be cut.

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Appellate Court declines FedEx Ground request to appeal (U.S.)

Posted by | Jan 22, 2008 | |

In a decision received today, the United States Court of Appeals for the Seventh Circuit declined to hear the request of FedEx Ground, an operating unit of FedEx Corp. for interlocutory review of the class certification decision in the Kansas case pending before the United States District Court in Indiana. The decision had granted class certification on the Kansas state claims and a national ERISA claim.

The court did not rule on the validity of the contractor model and has not decided class certification in any other multi-district litigation case. FedEx Ground will continue to vigorously defend the MDL.

This procedural ruling does not change any aspect of the FedEx Ground operation and we will continue to provide the world-class service our customers have come to expect.

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National Foreign Trade Council (NFTC) welcomes new Chairman John Mullen, CEO, DHL Express

Posted by | Jan 22, 2008 | |

The National Foreign Trade Council (NFTC) announced the appointment of its new Chairman, John Mullen, Chief Executive Officer for the Express division of Deutsche Post World Net (DPWN), the parent company of DHL, effective January 22, 2008. Mullen oversees DHL’s global operations, which includes a presence in more than 225 countries and territories.

Mullen is also member of the Board of Management of DPWN, the world’s largest transport and logistics group. Prior to being named worldwide CEO of the Express division, Mullen was the CEO of U.S. based DHL Americas. Before joining DHL, Mullen spent 10 years with the TNT group, holding various senior leadership positions, including Chief Operating Officer for two years and Chief Executive Officer of TNT Express Worldwide for three years.

“With protectionist sentiments growing, the Doha Round outcome uncertain and much work left to be completed in the U.S. Congress on the three pending FTAs, now is a critical time for the NFTC to work with policymakers to illustrate and underscore the benefits of trade to domestic and international economic growth,” said Mullen. “I look forward to working with the NFTC to help lead these efforts.”

Mullen will succeed Dinesh Paliwal, President, Chief Executive Officer and Vice Chairman of Harman International, who served as Chairman of the NFTC since 2005.

The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.

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Congo government to bail out postal firm

Posted by | Jan 22, 2008 | |

The Congolese government plans to disburse six billion CFA francs (USD 13,523,563) to finance the recovery plan of the Congolese Posts and Savings Company (SOPECO), the Managing Director of the company, Guy Roger Mankedi, said here Monday.

The plan, to be implemented between 2008 and 2010, covers the computerization and extension of the firm’s service across the country and the modernisation of its payment system.

“These are important projects for which SOPECO should not be left behind. SOPECO must take on the moving train and that requires a lot of means,” Mankedi said.

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