Tag: Asia

Indian Post and Deutsche Postbank in talks

Posted by | May 30, 2008 | |

The Department of Post (DoP) said it is in talks with Deutsche Postbank to enter into housing loan business.
The Post office already have alliance with the SBI to enable people to open an account through the postal department. Moreover, education, home and personal loans can also be applied for and sanctioned from State Bank of India through the postal department.
With a huge network of more than 155,000 post offices, the DoP is also looking at tie-ups with other banks to disburse housing loans in the rural areas.
The post office, in its bid to leverage its reach had started retailing various financial products.
It has a tie-up with UTI MF, Principal PNB AMC, Prudential ICICI and SBI Mutual Fund for selling their mutual funds.
Recently, the post office has also inked a joint venture with the Centurian Bank of Punjab for business in foreign exchange.
Under the six month agreement with the Centurian Bank of Punjab for forex business, a pilot project would be launched in 31 Head Post Offices of 11 states.
Besides, the government is also using the post offices to disburse the proceedings of the National Rural Employment Guarantee (NREG) Scheme.

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Japan Post group sees higher than expected profits in 1st 6 months+

Posted by | May 30, 2008 | |

Japan Post Holdings Co. said last Friday 30 May, its business performance in the first six months of its 10-year privatization process exceeded its expectations with a consolidated net profit of 277.2 billion yen during the October-March period.

The figure was 29 percent higher than an initial projection due in part to robust earnings results delivered by Japan Post Bank.

The postal bank recorded a net profit of 152.1 billion yen, up 17 percent from an initial estimate, thanks to good returns on investments mainly in government bonds.

Japan Post Network Co., however, logged a net profit of only 4.6 billion yen, 86 percent lower than expected, because of stagnant commissions revenue from its group firms, indicating that the company, which administers around 24,000 post offices across the country, represents a particularly weak spot for the four-company Japan Post group.

Japan Post Insurance Co.’s net profit of 7.6 billion yen was a tad lower than the earlier projection of 8 billion yen.

In addition to the three group firms above, Japan Post Holdings presides over Japan Post Service Co., its mail service arm.

1 JPY = 0.00949762 USD

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New technologies key to postal uplift – Posts Minister (Sri Lanka)

Posted by | May 30, 2008 | |

The Postal Department could be converted into a lucrative venture only through the introduction of new services and technologies in addition to its normal services, Posts and Telecommunication Minister Mahinda Wijesekara said yesterday.

He said with the implementation of the proposed plans, the income of the Postal Department could be increased to Rs. 1,000 million by 2010. Addressing the media at the new Posts and Telecommunication Ministry premises at D.R. Wijewardene Mawatha, Minister Wijesekara said the Ministry has drawn several plans to develop the Postal Department that will not burden the Treasury.

Wijesekara said according to recent statistics the Postal Department is one of the three departments managed at a loss. He said all problems related to the development of the Postal Department would be solved soon.

The Minister said by merely depending on ancient methods the Postal Department could not be converted into a lucrative venture as it is a service oriented business. Wijesekara said the Government is the main telecommunication provider and it will never give up the ownership of the Postal Department at any time.

The Posts and Telecommunication Ministry will sign an agreement with Western Union Money Transfer Company to promote the Department’s income standards. With the implementation of the agreement, foreign exchange transactions can be carried out through post offices in the country. This will become an additional income earning source to the Postal Department in addition to its normal business, the Minister said. The Postal Department has also focussed its attention on providing mobile phone re-loading facilities, he said.

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Launch of protective Speed Post and Insured Post envelops

Posted by | May 30, 2008 | |

With the launch of customized protective envelop for Speed Post and Insured Post – a first in the country, India Post has moved a step further in providing customer convenience. “With the introduction of these envelopes, the Department is keen to transform itself as a customer friendly organization” said Mrs Noorjehan, Member (Operations & Marketing), Postal Services Board during the launch of the envelopes here today.
These envelopes are made of an innovative material with product qualities like water, tear, and abrasion-resistance, soft and smooth texture for excellent printability, environment-friendly and light-weight, and with customized tamper-evident features. These offer enhanced security and protection to the contents enclosed. These envelopes will be available to the customers in various Post Offices and Speed Post Centres across the country.
During 2007-08, while the express industry growth is around 20 pct, Speed Post posted an impressive growth of 29.7 pct in terms of revenue and 38% in terms of volumes. During 2007-08, the revenue from Speed Post touched 583 crores, as against Rs.449 crores in the previous year.
Recently, the Department had introduced Speed Post One India One Rate scheme. This is a novel and innovative scheme which provides customer convenience and ease. For articles weighing less than 50 grams, it costs just Rs.25 across the country and this includes service tax components also. For local delivery, it costs just Rs.12. Now, with the introduction of Speed Post envelopes, customers can buy these envelopes and send it across India under One India One Rate scheme. Each Speed Post envelope costs Rs 5.

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China Post Expands Scope and Size of Teradata Active Data Warehouse

Posted by | May 29, 2008 | |

Teradata Corporation, the global leader in enterprise data warehousing, announced today that the China Post Express Mail Service (EMS) Bureau, the nation’s largest provider of express mail and courier services, has expanded its Teradata system to provide real time information management capabilities. This represents a major upward shift in performance to the level of an Active Data Warehouse (ADW). With this technology expansion and upgrade, China Post now has launched its third-generation track-and-trace system for consumer mail and packages.

This is believed to be the first information system in China to achieve real-time data loading and query capacity with ‘active’ or ADW technology, which moves the business beyond strategic analytics to optimize operational processes for improved cross-enterprise visibility and customer service. The new system at EMS now features real time monitoring and sophisticated operational notifications as well as detailed financial analysis and reporting.

The expansion accommodates continuous growth at EMS as data volume and complexity increase. The new track-and-trace system now manages over eight million transactions per day with the number of daily queries increasing to about 1,300,000. At peak moments, the number can reach 140,000 queries per hour. Currently, express mail collection and delivery information is uploaded to the Internet within five minutes of the transaction. With a portable wireless terminal, the transaction can be uploaded in as few as three seconds, which greatly enhances query timeliness and better satisfies rising customer use.

Before China Post selected Teradata to build its third-generation track-and-trace system, it had already deployed two previous platforms, but neither, used separately or in tandem, could support real-time track-and-trace capabilities at rising demand levels.

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