Author: Archive

Postal savings bank to open branches

Posted by | Aug 17, 2007 | |

China Postal Savings Bank (CPSB), the nation’s fifth-largest lender, has been approved to set up its first branches and sub-branches in Guangdong Province.

The China Banking Regulatory Commission (CBRC) said yesterday it has given the go-ahead for CPSB, which was established in March, to open two branches, 19 second-tier branches and over 1,000 sub-branches in the province.

Headquartered in Beijing, CPSB has been preparing to open branches and sub-branches in the first half of this year.

China Post has 36,000 outlets nationwide, almost 60 percent of them in rural areas, and 270 million account holders.

These offices began offering postal savings in 1986, but with no loan or credit card services.

At the end of last year, postal savings in China amounted to 1.6 trillion yuan (USD 211 billion) – the highest after the Big Four State-owned commercial banks.

The bank is expected to make more efforts to provide micro loans to rural households and companies.

This is part of China’s recent drive to build a new, prosperous countryside.

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Descartes acquires Global Freight Exchange

Posted by | Aug 17, 2007 | |

Descartes Systems Group, a global on-demand software-as-a-service (SaaS) logistics solutions provider, has acquired Global Freight Exchange Limited (GF-X), a global leader for electronic freight booking in the air cargo industry. The acquisition of U.K.-based GF-X adds electronic air freight booking capability to Descartes’ Global Logistics Network (GLN), creating a global network capable of managing the entire air cargo shipment lifecycle.

GF-X’s offering includes a comprehensive, on-line cargo reservation system where air carriers and freight forwarders can complete electronic air cargo bookings. Many of the world’s leading carriers and forwarders use GF-X’s products in major airfreight markets worldwide, including American Airlines, Air France, British Airways, Delta Air Lines, DHL, Kuhne + Nagel, Lufthansa, and Panalpina. In support of Descartes’ acquisition of GF-X, several key air cargo carriers and freight forwarders have extended their customer commitments to use GF-X’s products and services.

The purchase price for this acquisition included approximately USD 5.4 million in cash; approximately 0.5 million Descartes common shares that were issued to strategic airlines and freight forwarders, each of whom agreed to maintain their investment in Descartes for a minimum period ranging between 11 and 18 months; and up to an additional USD 5.2 million in cash if certain sales and other performance targets are met by GF-X over the next 4 years. In addition, Descartes anticipates that the final purchase price will include transaction and integration costs incurred in connection with the acquisition and an adjustment for net working capital.

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Emirates Post launches campaign against smoking

Posted by | Aug 16, 2007 | |

Emirates Post has launched an anti-smoking campaign in association with the Ministry of Health, Department of Preventive Medicine and Sharjah Medical District, under the slogan “Save Yourself from Loss”. A two-day anti-smoking clinic was organised at the Sharjah Central Post Office staffed by doctors and medical staff to focus on diseases caused by smoking, including hypertension and cancer. Sultan Saeed Sahoh, Director of the Sharjah Central Post Office, said the objective of the campaign is to highlight the harmful effects of smoking among staff and visitors to the Post Office.

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Library fears mail rate hike

Posted by | Aug 16, 2007 | |

In January a World Trade Organization ruling takes effect that would block Ottawa directly subsidizing postal rates for libraries. Canada Post would likely start charging libraries the full parcel rate – 13 times what it currently charges them to send materials to in the mail.

That would be a big hit for the Vancouver Island Regional Library system, which depends on the mail to reach customers in remote communities.

Brandon-Souris MP Merv Tweed, a Conservative, introduced a private members bill in June that would require Canada Post to continue the rate for books. Bill C458 would also expand it to include CDs and DVDs.

Not surprisingly, VIRL is backing the bill.

Board members hope users – and taxpayers – sign a petition available at library branches, and online at the virl.bc.ca website. They’re also soliciting support from member municipalities.

About 50 per cent of the population use libraries – much higher than other leisure facilities like swimming pools and recreation centres. But even non-users would be affected by higher costs, which mean higher taxes.

The library system, which serves the B.C. coast from Victoria to Queen Charlotte Islands, got unanimous support from Nanaimo city council and the Regional District of Nanaimo.

George Holme, RDN representative, takes a more pragmatic approach.

The federal government created the library book rate by an act of parliament in 1939, but in 1997 the World Trade Organization ruled Canada Post must bear the full cost of the subsidy. Canada Post won’t guarantee support for the rate beyond January 2008.

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Royal Mail fears GBP 350M strike fine

Posted by | Aug 16, 2007 | |

Royal Mail could face a GBP 350million fine after the recent strikes left services in turmoil.

The warning came as some workers voted for fresh action in a pay and modernization row and simmering disputes threatened to spark wildcat walkouts.

A memo to managers says the strikes “cost us dearly. Our quality of service has been ruined.

“We will miss all targets this year and could be fined up to GBP 350million unless we can convince Postcomm not to apply it”.

“Our relationship with customers is damaged and many are moving away altogether.” The Communication Workers’ Union staged two 24-hour national strikes.

It suspended more action for fresh talks. But up to 5,000 posties in South London have voted to strike on August 24 and 28.

Staff at offices including Streatham and Watford will be balloted after pay was docked. Royal Mail refused to comment.

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FedEx to break ground in Kingsport next month

Posted by | Aug 16, 2007 | |

FedEx Ground is planning to begin construction on a new 90,000-square-foot distribution center at Gateway Commerce Park next month and open for business by June 1, 2008.

The Kingsport Regional Planning Commission voted unanimously Thursday night to approve the zoning development plan for the facility. The plan is expected to go before the Gateway Commission this morning for a Certificate of Appropriateness.

Tim Elam, a development associate with Scannell Properties of Indianapolis — the developers of the project — said construction on the USD 6 million facilities would begin around the middle of September, with the facility slated to be open by June 1, 2008.

The 90,000-square-foot facility is being built on 13 acres of land in the Gateway Commerce Park, with plans existing for a 20,000-square-foot expansion. The plan also calls for 21 loading docks for tractor-trailers and a perimeter road around the building to accommodate truck traffic.

FedEx will hire approximately 75 employees initially for the new facility, and Elam said growth projections show that number could potentially double.

The facility will receive 10 tractor- trailer trucks a day and process around 20,000 packages a day. Elam said the facility would essentially serve a 60- to 80-mile radius.

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SNAS/DHL receives 'Investor in People' global recognition in Middle East

Posted by | Aug 16, 2007 | |

With this recognition, SNAS/DHL is one of the companies to achieve this global recognition in the Middle East. The company received its accreditation today in a letter of congratulations from Investor In People organization. By Investing in People, SNAS/DHL will enjoy a higher level of performance, greater workforce stability and a level of continuity that assures preservation of the knowledge base, customer loyalty, and employee satisfaction in order to always lead the way and be in Pole Position.

Nour Suliman, SNAS/DHL Country General Manager, said: “We are very proud to receive this recognition as it’s one of the highest levels in the HR industry and we are the first company to be awarded in the Middle East’.

“Investor in People” is an internationally recognized quality standard which is designed to advance an organization’s performance through its people. Achievement of the Standard demonstrates SNAS/DHL’s commitment to developing its most important asset – the employees whose hard work, enthusiasm and dedication have been essential factors in the company’s success.

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FedEx speeds up Macau delivery times

Posted by | Aug 16, 2007 | |

FedEx Express, a subsidiary of FedEx Corp, today announced that its delivery commitment time has been advanced by five hours, to 1 pm, for all of its International Priority and International Economy shipments from anywhere in the world to Macau.

Backed by a money-back guarantee, this enhancement enables FedEx to offer the earliest delivery time each business day in Macau of any express delivery company.

Customers, who rely on time-definite delivery of products with short lifecycles, such as information-related items or other high-value goods, will benefit significantly from this development.

In 2006, the value of imports into Macau reached USD 4.6 billion, 45.1 percent of this originating in mainland China, with the WPRD region accounting for the biggest amount.

Re-exports increased by 10.3 percent to USD 771 million. Re-exports to mainland China, which accounted for 45.7 percent of the total re-exports, grew by 2.2 percent in 2006.

Strengthened by the establishment of the Zhuhai Free Trade Zone, the Hengqin and Lotus Bridge customs facilities and the Closer Economic Partnership Arrangement, cross-border activity is expected to gain further momentum.

Meanwhile, the new hotels and resorts with world-class convention and exhibition facilities that will open in Macau represent another pool of demand for international express services.

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