Global contract logistics sees double digit growth
Global contract logistics sees double digit growth
Read MoreTag: Asia
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China Southern eyes cargo venture
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TNT opts for niche market
Read MoreAirtel, Western Union offer mobile money transfer service
Indian workers in other countries will soon be able to send money, less than $100, to their family back home using a mobile phone.
Bharti Airtel and Western Union have decided to jointly develop and pilot a mobile money transfer service in the country. The move is part of a global initiative by the GSM Association wherein 35 mobile operators spread across 100 countries have taken a commitment to enable the world’s 200 million international migrant workers to easily and securely send remittances to their dependents.
Here’s how it works. If an Indian working in Dubai wants to send money that’s sub USD 100 to his family in Kerala, he has to punch in the exact amount to be sent on an application on his mobile handset. The application will be provided by the mobile operator when the sender registers himself for the service.
The message is delivered through the mobile operator’s network to his local bank from where the amount is transferred to Western Union. A 16-digit identification number is generated by Western Union and delivered (either through email or SMS) to the person who sent the money in Dubai.
The sender then has to give the 16-digit number to his family in India. His family has to punch in the identification number on their Airtel mobile through a special application which can be easily downloaded on their handset.
Read MoreUPS sees fast-growing Asia unaffected by softer U.S.
Packaging delivery company United Parcel Service Inc expects regional growth in Asia will remain robust and be unaffected by a slowing U.S. economy, a senior company official said on Thursday.
UPS, the world’s largest package delivery company, has said growth this peak season would be below the previous four years, reflecting slowing U.S. economic growth, the housing sector slowdown and expectations of low retail sales growth.
But rising trade within the Asia-Pacific region was boosting demand for freight and logistics services in countries including China, India, Vietnam and Thailand, said Ken Torok, president of Asia-Pacific region for UPS.
“Asia-Pacific is our fastest growing region, as the momentum in the services sector and infrastructure development continues,” he said at a conference to launch a strategic alliance with local logistics firm AFL Pvt Ltd.
“And in the region, intra-Asia trade is the fastest growing and leading segment,” he said.
The UPS annual Asia Business Monitor for 2007 showed intra-Asia trade accounted for the most volume growth from small and medium enterprises. Also, trade with the Middle East overtook Europe and the United States for Asian firms.
“Growth within the region is so strong, that what happens in the U.S. market will not have as big an impact on Asia as it did some years ago,” Torok said.
For UPS, business in Asia grew by more than 20 percent in the third quarter, while China and India grew by more than 25 percent, Torok said.
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