Latest news with #UKPostOffice
New Straits Times
01-05-2025
- Business
- New Straits Times
NST Leader: Affordable 'paradise'
In 1985, the 13.5km-long Penang Bridge, connecting the island to mainland Prai, was completed — symbolising the agro-based nation's ambition to become a global industrial powerhouse. The South Korean-built, cable-stayed structured bridge is the longest of its kind in Southeast Asia and has won awards for its unique architecture. At conception stage, the bridge drew criticism, chiefly because it was seen as a "luxury" project. Now, that initial outcry sounds thoroughly antiquated. Luxurious or not, the government disregarded the sceptics, invested RM800 million in construction and realised the early-1970s dream of then prime minister Tun Abdul Razak Hussein and chief minister Tun Dr Lim Chong Eu. Had the government delayed or cancelled the bridge project, construction costs would have exploded into the billions. So robust was Penang's socioeconomic rise that a second bridge — 24km long — was completed in 2014, although a 7.2km undersea tunnel connecting Pangkor Road and Prai's Bagan Ajam remains in limbo. Forty years on, the Penang Bridge has replaced the quaint ferry service while addressing growing congestion, improving public transport, fuelling economic and industrial growth and, above all, boosting tourism. While Penang's industrial and technological strength gains global recognition, it is the state's tourism that is now making headlines, especially after ranking 12th in the prestigious UK Post Office Holiday Money Report 2025. The report assesses holidaying costs in 47 international destinations, with a particular focus on locations offering excellent value for tourist budgets. Travellers and permanent residents consistently vouch for Penang's historic and tourist hotspots, often even more enthusiastically that its fantastic food and impressive luxury and budget stays. Nevertheless, affordability is relative. Foreign visitors may be charmed by Penang's low costs, but the locals appear less enthusiastic as property prices are rising beyond their financial capacity. Yet, everyone's unanimous on the popular street food, thanks to enterprising hawkers. It's a cliché, but no visit to Penang is complete without experiencing authentic nasi kandar, mee goreng mamak, kuetiau goreng, prawn mee, oyster omelette and cendol at the traditional George Town hawker stalls. How do Penang hawkers sustain budget prices, providing full meals for as low as RM3? The answer is in Penang's dense population, which drives a high volume of local and tourist purchases, allowing for decent profit margins. Then there's federal and state initiatives actively promoting affordable housing and implementing price controls, with a clear focus on benefiting lower-income groups. The numbers speak for themselves: rent in Penang is 14 per cent lower than in Kuala Lumpur, and a single individual can maintain a decent standard of living (excluding rent) on around RM2,350 per month. This translates to Penang being 8.6 per cent more affordable than the capital city. What's more, life in Penang offers quality of life without compromise, providing standard amenities and a relaxed, affordable lifestyle in what many consider paradise on earth.
Yahoo
01-05-2025
- Business
- Yahoo
Post Office and UK banks agree to extend cash access services
The UK Post Office has finalised a new five-year agreement with banks and building societies to maintain cash services across the country. The deal ensures that millions of individuals and small businesses will continue to have access to essential banking services. It will take effect from January 2026 and run through to December 2030. The arrangement, called 'The Banking Framework', was introduced in 2017. The new deal allows customers from 30 different financial institutions to withdraw and deposit cash, check balances, and deposit cheques at their local Post Office. This initiative was designed to safeguard access to cash in communities, in the face of increasing closure of bank branches amid customers' digital shift. Since the beginning of 2020, more than 760 million transactions have been carried out by personal and business customers at Post Office branches. The data collected by the Post Office shows a year-on-year increase in both business and personal cash deposits from 2020 through to the end of 2024. The renewed agreement aims to support continued demand for in-person cash services nationwide. It follows recent research by the Post Office, which revealed that 89% of respondents consider it important to maintain access to cash in the UK, and 53% use cash for everyday transactions at least once a week. Post Office CEO Neil Brocklehurst said: 'Post Office is an organisation that needs change, and I am proud to have been appointed the new CEO with a mission to deliver this. I am determined to deliver a 'New Deal for Postmasters' that drives up postmasters' incomes and strengthens their voice in the day-to-day running of the business. 'This new, five-year agreement with banks and building societies ensures our branches remain vital hubs for cash access and provides certainty for businesses and individuals nationwide when it comes to their everyday banking. 'This agreement also means that we will be able to increase the income postmasters receive for delivering banking services, a key pillar of our transformation plans.' "Post Office and UK banks agree to extend cash access services" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
New Straits Times
30-04-2025
- New Straits Times
Penang stands out in UK's Holiday Money Report, highlighting its value for money
GEORGE TOWN: Penang has solidified its position as an affordable and exceptional holiday destination. The Pearl of the Orient secured 12th place globally in the prestigious UK Post Office Holiday Money Report 2025. The annual study evaluates the cost of holidaying across 47 international destinations, highlighting those where travellers can maximise their budget. The 47 destinations were surveyed for the Worldwide Holiday Costs Barometer, with the help of national and local tourist boards. Eight items, namely, a three-course meal for two with wine, a cup of coffee, a bottle of local beer, a can of cola, a glass of wine, a bottle of still water, sun cream and insect repellent, were selected as representative of the purchases UK tourists are most likely to make. Prices were cross-checked by Post Office researchers. It costs £83.05 (RM479.94) in Penang. Topping the list of the top 20 are Algarve in Portugal (£58.95), Cape Town in South Africa (£59.84), Tokyo in Japan (£63.34), Kuta in Bali (£66.88), Delhi in India (£69.52), Sunny Beach in Bulgaria (£71.46), Hoi An in Vietnam (£73.23), Prague in the Czech Republic (£75.92), Phuket in Thailand (£76.10), and Costa del Sol in Spain (£76.51). Others on the list include Mombasa in Kenya (£77.20), Lanzarote in the Canary Islands (£85.42), Marmaris in Turkey (£86.00), Sliema in Malta (£88.91), Paphos in Cyprus (£91.26), Sharm el-Sheikh in Egypt (£91.48), Toronto in Canada (£92.78), Punta Cana in the Dominican Republic (£93.09), and Santiago in Chile (£94.13). Tourism Malaysia London director Sulaiman Suip was quoted in a report by Travel and Tour World as saying that Penang's inclusion in this year's UK Post Office Holiday Money Report as a top-value destination was a fantastic endorsement for Malaysia. "It shows that travellers can enjoy world-class experiences in Malaysia while still getting exceptional value for their money. "We're delighted to see Penang recognised on the global stage and hope this inspires more UK travellers to discover what Malaysia has to offer," he was quoted as saying. The timing of this recognition aligns with Visit Malaysia Year 2026 (VM2026), a campaign aimed at highlighting the country's diverse attractions and enticing more international travellers. With this year acting as a prelude to the landmark initiative, the honour provides a timely boost to Malaysia's growing global profile and tourism appeal. Penang secured 13th place in the UK's 2024 Post Office Travel Money Long Haul Holiday Report, ranking among 32 global resorts and cities surveyed for affordability. Post Office Travel Money is the UK's largest foreign exchange provider and accounts for one in four of all UK currency transactions. As part of its market-leading services, Post Office Travel Money offers news briefings on topical currency-related stories and provides informed commentary on currency movements and trends, with intelligence from industry-leading experts. It was reported in April last year that Penang was ranked as the 11th best-value destination in the 2024 edition of the Holiday Money Report, ahead of Phuket in Thailand, Delhi in India, Costa del Sol in Spain, and Montego Bay in Jamaica. The report was by Post Office Ltd, the biggest retailer in the UK. The Worldwide Holiday Costs Barometer, published in the report, found that prices for meals, drinks, and tourist items had fallen since 2023 in 25 of the 40 resorts and cities surveyed. Eight items — a three-course meal for two with wine, a cup of coffee, a bottle of local beer, a can of cola, a glass of wine, a bottle of still water, sun cream and insect repellent — were selected as representative of typical UK tourist purchases, and prices were cross-checked by Post Office stood out with a total weekly cost of just £74.57.[Hyperlink:
South China Morning Post
29-04-2025
- South China Morning Post
What to do in Portugal's Algarve, world's ‘best value' holiday spot
In less than two hours in a hire car you can travel to any drivable part of southern Portugal's Algarve region from Faro Airport, its only international airport, even at a leisurely pace. Advertisement The region is a well-known holiday destination for families. Other than the beautiful beaches and weather – it is said to have one of the best year-round climates – there are also plenty of places and activities that are suitable for children of all ages, including water parks and theme parks, family golf centres, go-karting, food festivals, and fun daily excursions. What is more, the Algarve has reclaimed the 'best value spot' after nine years in the UK Post Office's 2025 Holiday Money Report, its list of the best holiday hotspots for bargain-hunters. But where should you head to if you are travelling as a family? Natural arches extend over the sea near the Praia da Marinha beach in the Algarve. Photo: Shutterstock The Algarve is roughly divided into the eastern and western Algarve. Advertisement The east – called 'Sotavento', meaning facing away from the wind, and also known as 'Sandalgarve' – runs from the Spanish border to around Faro and is suitable for smaller children, with its sandy beaches that only gradually get deeper.
Euronews
13-03-2025
- Euronews
Swayed by special offers? Here's where your holiday budget will stretch furthest in Europe
80 per cent of British holidaymakers said deals and prices in travel adverts were their main inspiration. ADVERTISEMENT Most UK travellers are influenced by special offers and pricing when booking a holiday, according to a new report. Advertising platform Teads compiled data from multiple surveys of British holidaymakers and found that 80 per cent of respondents said deals and prices in travel adverts were their main inspiration when choosing where to go. The Teads Travel Compass report found that cost was similarly the primary factor for accommodation and flight choices for those surveyed, cited by 60 per cent and 54 per cent of respondents respectively. With money a major factor in many people's holiday booking choices, where in Europe will your budget go furthest? Here are the best value destinations across the continent. Portugal's Algarve is the best destination in Europe for budget travellers The UK Post Office's annual money report for 2024 found that prices for meals, drinks and other tourist items have fallen in over 60 per cent of the resorts and cities surveyed compared to the previous year. Portugal's Algarve was the highest placed of 15 European destinations surveyed, holding on to fifth place with a 1.2 per cent drop in prices. In doing so, it has overtaken Turkey and Bulgaria, where price rises have seen Marmaris and Sunny Beach fall in the rankings. Out of all the destinations surveyed, the Algarve had the cheapest coffee at £0.88 (€1.05) and wine at £1.76 (€2.10). Items like suncream and insect repellent were on the costlier end compared to other places in the top five. Avoid buying suncream in Bulgaria's Sunny Beach Bulgaria's Sunny Beach made the seventh spot. Prices for beer, a bottle of Coca-Cola or Pepsi and a bottle of water are all relatively low. A three-course evening meal for two with a bottle of house wine costs £39.31 (€46.90), which is the fourth cheapest in the top 10. However, make sure you buy suncream before you go because a last minute purchase while you're there will cost you £9.30 (€11.10), the second most expensive in the top 10. Meals out will cost you in Marmaris, Turkey Coming in ninth place was Marmaris in Turkey. Despite the downward spiral of the Turkish lira, local prices in restaurants and bars have more than doubled as owners try to overcome the challenge of inflation. A three-course evening meal for two with a bottle of house wine costs £48.89 (€58.30), the second highest in the top 10. On the other hand, supermarket purchases of suncream, insect repellent and a bottle of water won't break the bank.
