Tag: Worldwide

UPS applauds new trade deal with South Korea

Posted by | Apr 5, 2007 | |

UPS congratulated the U.S. and South Korean governments for brokering a free trade agreement that will strengthen the countries’ economic ties.

“The United States and South Korea have reached a trade accord that establishes new opportunities for small and large companies on either side of the Pacific,” said Alan Gershenhorn, president of UPS International. “The increase in trade that will come from this agreement means more jobs and more global competitiveness for the two countries.”

The U.S.-South Korea Free Trade Agreement contains vital provisions for the express delivery industry, including enhanced market access and improved customs clearance times that allow companies such as UPS to better serve their customers.

South Korea is the seventh-largest trading partner of the U.S., totaling some USD 78 billion in bilateral trade. More than a quarter of U.S. exports to South Korea come from small- and medium-sized businesses.

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TNT Post scoops BT contract

Posted by | Apr 4, 2007 | |

TNT Post has been appointed by BT to deliver The Phone Book to 3.2 million homes across the UK as part of a three-year contract.

The move follows TNT Post’s GBP90m contract win in January to deliver BT’s addressed mail.

The new contract will see TNT Post deliver 22 of the 170 local editions of The Phone Book.

TNT Post will provide on target and on time services to ensure The Phone Book is delivered efficiently and effectively.

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PostaPay launches money service in US

Posted by | Apr 3, 2007 | |

The Postal Corporation of Kenya (PCK) has officially launched PostaPay, its money transfer service, for Kenyans living overseas.The service will enable Kenyans in the Diaspora to send funds directly to places such as schools when paying tuition for relatives or dependants.

The service is being offered through a partnership with Afripayments LLC, a US based company that is also a co-owner of Nairobi-based Afripayments Kenya Ltd.

A high powered delegation from PostaPay headquarters in Nairobi led by the Postal Corporation of Kenya chairman, Major general (Rtd) Peter Kariuki and the CEO and Postmaster general Mr Fred Odhiambo were on hand for the launch.

Kenya’s ambassador to the United States, Mr Rateng’ Ogego, was the chief guest during the official launching ceremony at a Washington DC hotel.

“The country is hungry for new investments,” Mr Odhiambo said.

Posta has over 200 outlets throughout Kenya and the number of outlets is to increase, he added.

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Postcomm to examine Royal Mail request to price bulk mail products by delivery zone

Posted by | Apr 2, 2007 | |

Royal Mail applies to charge higher prices for delivery to London and rural destinations; lower prices elsewhere

Postcomm, the independent regulator for postal services, has today written to customers and operators about an application by Royal Mail to charge large mailers – using products which are not part of the Universal Service – different prices depending on where in the UK their mail is delivered. Royal Mail calls this ‘zonal pricing’. Postcomm has up to nine months to assess whether, and if so when, this new pricing structure can be implemented.

Royal Mail’s ‘zonal pricing’ application does not affect stamp prices or those bulk mail products that are included within the definition of the universal service. It covers products that generated about 25 per cent or GBP 1.4 billion of Royal Mail’s total regulated revenue in the last financial year.

Royal Mail currently prices almost all its bulk mail products at geographically uniform prices. It says that introducing ‘zonal’ prices would help align prices more closely with its costs. In its application to Postcomm, Royal Mail has divided its 27 million delivery points around the UK into five zones. These are Greater London, other areas of high population and delivery point density, areas of moderate density and rural areas of low population and delivery point density.

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China Postal Savings Bank gets official blessing

Posted by | Apr 1, 2007 | |

The China Banking Regulatory Commission has officially approved the establishment of the China Postal Savings Bank.

The major shareholder will be the China Post Group, formerly known as the State Post Bureau, which will provide the postal savings business through its 36,000 outlets nationwide.

By transferring the group’s vast network of savings accounts into CPSB, the bank will become the mainland’s fifth-largest bank by deposits, trailing only the four state- owned lenders _ Industrial and Commercial Bank of China (1398), Bank of China (3988), China Construction Bank (0939) and Agricultural Bank of China.

As at the end of June 2005, the total balance of postal savings in China reached nearly 1.3 trillion yuan (HK$1.29 trillion ), representing a 9.25 percent share of the mainland’s savings market.

The regulatory commission’s vice chairman Cai Esheng said earlier that CPSB will make use of its vast network of savings accounts to provide financial services for both urban and rural residents.

The central government has indicated that improving financial services in the countryside would be a priority in the future.

CPSB said it would focus on retail banking and intermediary services and adopt high standards of internal control and risk management.

“The ultimate goal is to build the bank into a competitive and safe modern bank with adequate capital and strong internal controls,” CBRC said.

Previously, postal savings were transferred to the accounts of the People’s Bank of China. Since August 1, 2003, the deposits were transferred to, and consequently managed by, the State Post Bureau. Deposits made before that date remained with the Chinese central bank which paid 4.131 percent in interest.

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