Tag: Europe

Post Office to trial Mortgages

Posted by | Sep 26, 2007 | |

The Post Office today announced it will be trialing mortgages at selected branches in the North.

The trial follows a succession of well-received financial product launches by the Post Office which is now the fastest growing financial services provider in the UK. It has already attracted more than one million customers with its easy to understand and good value products.

As the mortgage market becomes ever more complex, the Post Office is investigating the need for straightforward mortgages with good initial and long term value and no hidden charges.

Three mortgage products will be available during the trial, led by a three year fixed rate product with an initial rate of 6.09 pct. Each of the products will have a transparent pricing structure, including a low cost fixed arrangement fee of GBP 399, no higher lending charges and a competitive reversion rate.

Post Office Mortgages are provided in conjunction with Bristol and West, the Bank of Ireland’s lending arm. As a responsible lender, the Post Office will apply strict lending criteria and enforce appropriate checks before an offer is made.

The products are as follows, led by a market leading three-year fixed rate mortgage with an initial rate of 6.09 pct.

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Rampant speculation over possible Salvesen takeover

Posted by | Sep 26, 2007 | |

Industry speculation is rife over the identity of two potential bidders for Christian Salvesen, following the company’s statement that it has been approached regarding a possible takeover.

While the absence of any confirmation from companies within the transport & logistics sector has fuelled market speculation that the interested parties may be private equity companies, analysts have suggested that Wincanton, Deutsche Bahn, Kuehne+Nagel, Norbert Dentressangle or Salvesen’s JV partner, APL, could be in the running.

The UK-based logistics company also has operations in Belgium, France, Holland, Ireland, Portugal and Spain.

Christian Salvesen has, in the past, rejected suggestions of merger propositions, although the company’s financial performance has been hit by increasing competition in a market steeped in M&A activity.

In June, the company agreed to sell its frozen vegetable business for GBP 17.2 million.

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DHL to increase service centres in Armenia

Posted by | Sep 25, 2007 | |

DHL is celebrating 15 years of activity in Armenia. DHL plans to increase the number of its service centres in Armenia, said DHL Regional Director in the CIS Edward Kaspersky. Thus, four DHL offices will operate in Armenia soon.

Kaspersky pointed out that DHL services are available for about 50 pct of Armenia’s population. About 85 pct of DHL customers are legal entities, particularly, embassies, international organizations, banks, enterprises, as well as industrial companies, consulting and travel and telecommunications agencies. The share of individuals is only 15 pct. According to him, this ratio corresponds to the world practice of DHL, as the company’s services are targeted at business.

Kaspersky pointed out that the company keeps enlarging the circle of activities in Armenia.

The strategic development of DHL in Armenia is based on the optimistic economic forecasts in the country, as well as the implementation of modern technologies and personnel training.

DHL entered Armenia’s market in 1992 after signing a cooperation agreement with the UMAKS Company. At present, two DHL offices are operating in the cities of Yerevan and Vanadzor.

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Germany Pin CEO: Minimum-wage deal could threaten postal peers

Posted by | Sep 25, 2007 | |

Small German postal service providers won’t be able to survive and tens of thousands of jobs in the sector will be lost if the planned minimum-wage agreement for the sector were to become generally binding, Guenter Thiel, chief executive of Pin Group.

Pin Group is a unit of Axel Springer AG. Private postal service providers are hoping to grab market share from the largest player, previously- government-owned Deutsche Post, when the German market for postal service will be liberalized next year.

Many large customers are already hesitant to do business with Pin and other Deutsche Post competitors amid uncertainty about the outcome of the minimum wage discussion, Thiel said.

Deutsche Post and labor union Ver.di recently agreed on a minimum wage of between EUR 8.00 and EUR 9.80 for postal workers. Private competitors like Pin Group are demanding a minimum wage of EUR7.50 maximum.

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Aero Inventory partners with Kuehne + Nagel to support expansion

Posted by | Sep 25, 2007 | |

Aero Inventory, a company in the industry of customised e-based procurement and inventory management solutions to the global aerospace industry, has selected Kuehne + Nagel to support its geographical expansion through the provision of airfreight and contract logistics services.

Under the terms of a new contract Kuehne + Nagel will now strengthen its existing relationship with Aero Inventory, supporting the company’s strategic growth plans. Kuehne + Nagel currently has a strong business partnership with Aero Inventory in the UK, Ireland, Hong Kong, Indonesia and Bahrain, and was recently awarded a new contract in Australia.

Kuehne + Nagel provides an extensive range of aviation logistics solutions to Aero Inventory, including transport, receipt, handling and inspection of aerospace consumables, AOG deliveries, customs clearance, and reverse logistics, particularly within the Asia-Pacific region. In addition, Aero Inventory benefits from complete visibility of shipments and corresponding Cargo 2000 route maps via Kuehne + Nagel’s logistics information system, KN Login.

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