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DUBAI / Emirates Business Global trade enabler DP World’s Jebel Ali Free Zone (Jafza) has welcomed Maysun Solar, the first photovoltaic panel producer to set up a manufacturing facility in the region’s leading free zone. Maysun Solar currently manufactures 5,000 solar panels a month with a capacity to generate 40 megawatts of electricity. The launch follows DP World’s on-going solar ...

DUBAI / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Patron of the Al Maktoum Foundation, provided AED3.1 million to the Islamic Sheikhdom of Kosovo to implement several endowment projects, whose profits will support the sheikdom’s budget, as well as economic and educational projects, such as commercial stores, school classes ...

Dubai / Emirates Business Gulf Navigation Holding PJSC announced its intention to increase the company’s capital by AED 448,333,334 in order to make the issued and paid up share capital to be AED 1 billion, distributed over 1,000,000,000 shares at a par value of AED 1 per share without issuance premium, based on the company’s General Assembly resolution approved unanimously ...

Sharjah / WAM The Sharjah International Commercial Arbitration Centre (TAHKEEM), has been awarded three ISO Certificates – ISO 9001, ISO 14001 and ISO 18001. The three certificates are ISO Quality Management 9001; ISO Environment Management 14001; and OHSAS 18001 Certification for Occupational Health and Safety Management System. The certificates were received by Ahmed Saleh Al-Echlah, TAHKEEM Director, in the presence of ...

Bloomberg Third time’s the charm, but not for Korea’s largest carmaking group. Hyundai Motor Co. and affiliate Kia Motors Corp. said they sold 7.25 million autos in 2017, a million short of the companies’ joint target and missing forecasts for the third consecutive year. Deliveries fell to the lowest level since 2012. The group is forecasting a 4.1 percent increase ...

Bloomberg India is adding the least amount of coal-fired power in more than a decade as tepid demand from indebted state retailers fails to utilise the nation’s existing generation capacity. Coal-fired capacity, which accounts for more than three quarters of the nation’s electricity, rose by 809 megawatts during the April-November period, according to Bloomberg calculations based on the latest available ...

Bloomberg As automakers seal their first annual US sales decline since 2009, expectations for more interest-rate hikes are bolstering the nearly unanimous view that car demand will shrink again in 2018. Few analysts anticipate sales this year will reach 17 million vehicles, which was just achieved for a third-straight year and only the fifth time in history. The Federal Reserve ...

Bloomberg Maserati North America Inc. is recalling more than 1,000 of its newest luxury cars to fix leaky fuel pipes that increase the potential for an engine fire. The 2018 Ghibli and Quattroporte sedans—with prices starting at $73,050 and $105,600, respectively—have a faulty fuel delivery pipe in the engine compartment that may leak gasoline, the company said. The cars haven’t ...

Bloomberg Euro-area manufacturing growth accelerated to a record in December 2017, capping a solid year for factories which is now eating into production capacity. With export demand strengthening, IHS Markit’s monthly report on manufacturing showed both new orders and output were the strongest in 17 years. Germany’s gauge rose to a record and France improved. Global growth also got a ...

Bloomberg Protests that have roiled Iran over the past five days will die down in a few days, according to a senior Iranian official, as authorities said hundreds of those involved in the unrest have been detained. The demonstrations broke out last week, starting in the holy city of Mashhad and spreading to other parts of the country, including the ...