Asean countries are still relevant as a trade hub
Asean countries are still relevant as a trade hub
Read MoreTag: Asia
China Everbright Bank and Western Union sign agreement to offer money transfer in China
China Everbright Bank and The Western Union Company announced an agreement to offer money-transfer services at more than 300 China Everbright Bank branches in more than 30 cities in China. The service will be rolled out in the next few months.
Western Union’s representation agreement with China Everbright Bank will help extend Western Union’s global network of money-transfer services into cities throughout China, complementing the existing network and offering its customers even greater convenience.
China remains an attractive market for Western Union. According to the World Bank, China receives USD 22.5 billion in annual remittances, making it the third-largest remittance recipient country.
“Increasing numbers of Chinese people are moving to other parts of the world to study or work,” said Andrew Ong, regional vice president for Western Union, North Asia.
“Western Union’s Money Transfer service is trusted by customers to quickly and reliably receive money from, or send money to, family members or friends back home. Together with China Everbright Bank, the network is expanding into more economically developed cities. Both companies are able to increase choice and convenience for our customers, wherever they might live,” he added.
Zhang Yukuan, general manager of retail business at China Everbright Bank, added, “With our operating philosophy of ‘A Premier Bank with Diligent Financial Management’ in mind, we are committed to exceeding our clients’ demands and offering consistent, high-quality financial services. Our clients span over 36 major cities in 23 provinces. Launching money transfer services means we can provide our customers with premium-quality money transfers to and from more than 200 countries and territories.”
Western Union has had a presence in China since 1994 and currently has 25,000 locations through its cooperating partners China Postal Savings Bank and Agricultural Bank of China.
Read MoreDHL-CIAe International Fashion & Exports Awards at NCPA
The Indian market is expected to double by 2010 and further double by 2015 on account of buoyant economy, growing purchasing power and increase in retail activity, according to a recent report by a leading management consulting company.
Among the top three challenges critical for growth are retail environment, regulatory clearances and talent. CIAe has partnered with DHL, to address one of the most critical challenges facing development – talent crunch.
CIAe in association with DHL is organizing DHL-CIAe International Fashion & Exports Awards Nite at NCPA in Mumbai where students from 22 Fashion Institutes from all over the country have been invited to participate by presenting their latest collections.
Applications from the leading fashions institutes in India and the following have been short listed to present their ensembles – National Institute of Fashion Technology, Pearl Academy, J.D. Institute of Fashion, B.D. Somani,, Sophiya Inst, Wigan & Leigh among others.
“Today Indian products have a high level of acceptance in the global markets but finding the right talent in all industries, is a big challenge,” says said Mr. Christoph Remund, Chief Operating Officer, DHL Global Forwarding.
“With shifts in global sourcing and the ever-changing dynamics of world trade, the fashion industry needs a proven transportation and logistics network to rapidly respond to market demands” Mr. Remund added.
According to the Textile Ministry’s projections the total production of apparel industry in the year 2011-12 is projected to be Rs. 2,99,300 crores. Rs. 1,53,100 crores (US $ 34.02 billion) is expected from exports with the domestic market expected at Rs. 1,46,200 crores.
Read MoreShanghai soften line
Shanghai soften line
Read MoreDHL wins award for excellence in logistics
Express and logistics company DHL recently won the Technology Business Review (TBR) Asean Award 2007 for excellence in logistics.
DHL said yesterday the regional awards presentation had attracted nominations from companies in Asean, including multinational corporations, government-linked corporations and small and medium-sized enterprises (SMEs) from different industries.
“This win reflects DHL’s strength as the dominant express and logistics provider that is able to provide integrated supply chain solutions across the entire logistics industry range,” it said.
DHL Express country manager (Malaysia and Brunei) Sam Leong said the award further strengthened DHL’s commitment to continually respond to its customers’ international and transportation logistics needs.
“We have not only introduced new services such as airport-to-door, which shortens cycle times for delivery while reducing overall business costs, but also implemented new technical solutions which significantly improve security and shipment processing, as well as the financial controls,” he said.
Leong said the rapid expansion of the DHL Servicepoint retail network provided customers with more convenience, greater accessibility and flexibility for sending their shipments.
“We are constantly introducing new service enhancements for our customers, specifically for SMEs, to ensure that transit times are minimised and new routes are established,” he added.
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