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Dubai / Emirates Business The 16th edition of the Middle East and Africa’s (MEA) largest automotive aftermarket trade and networking event opened on Tuesday in Dubai, featuring 1,812 exhibitors from 61 countries. Running for three days and spanning 63,350sqm at the Dubai International Convention and Exhibition Centre, Automechanika Dubai 2018 was flagged off by His Excellency Mattar Al Tayer, the ...

Abu Dhabi / WAM Strata Manufacturing, the advanced composite aero-structures manufacturing facility wholly owned by Mubadala Investment Company, announced the successful completion of the manufacturing process for the redesigned Airbus A330 Flap Track Fairing. The process was conceived and spearheaded by a team of Emirati engineers who tested the new product at Strata’s state-of-the-art facilities in Al Ain. A team ...

Abu Dhabi / WAM The Dubai Airport Freezone Authority (Dafza), announced continued growth in the number of automotive, car parts and accessories companies within the free zone. The announcement was made during Automechanika Dubai 2018. The event, which specialises in automotive, automobile parts and accessories, is being hosted at the Dubai World Trade Centre from May 1-3. DAFZA’s sponsorship and ...

Abu Dhabi / Emirates Business The space sector will help solve critical issues around renewable energy, transportation, nutrition and water conservation according to His Excellency Dr. Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills and Chairman of UAE Space Agency, who spoke at the second day of the Global Aerospace Summit 2018. ...

Bloomberg The lone non-Asian trade minister at last week’s Southeast Asian leaders’ summit in Singapore, UK Trade Minister Greg Hands had plenty of room to make the case that Brexit won’t interfere with his country’s ambitious plans in the region. As it scrambles to roll over some 40 European Union trade deals into individual agreements with the UK, London has ...

Bloomberg Larsen & Toubro Ltd., India’s largest engineering and construction company, has agreed to sell its electrical unit to a consortium led by Schneider Electric SE, people with knowledge of the matter said. A deal, which values Larsen’s electrical and automation division at about 140 billion rupees ($2.1 billion) including debt, could be announced as soon as this week, said ...

Bloomberg Japan’s traditional regional utilities, already defending their territory against nimbler new entrants, face a fresh threat: one of their own is now stealing customers thanks to cheaper nuclear-powered electricity rates. Kansai Electric Power Co. is one of a few utilities to restart atomic power plants, which will allow it to offer cheaper rates as it continues its expansion outside ...

Bloomberg Panasonic Corp. will pay about $280 million to resolve US allegations that executives at its in-flight-entertainment unit improperly hid payments to consultants in the Middle East and Asia, some of whom did little or no work for the company. The Panasonic parent company, in a settlement announced, will pay $143 million in disgorgement to the Securities and Exchange Commission, ...

Bloomberg Sony Corp. shares fell the most in almost two years after the electronics maker missed profit estimates and forecast weaker sales and operating profits across most of its business units. The stock fell 6.1 percent to 5,073 yen on Tuesday in Tokyo, the biggest one-day drop since June 2016 and the first trading session after last week’s earnings. The ...

Bloomberg Chinese consumers waiting for years to lay their hands on the Porsche sports car or the 7 series from BMW AG may soon be rewarded. Imported premium cars in the $80,000 to $240,000 range are set to benefit the most from China’s planned reduction in tariffs by about half, said James Roy, a director at luxury consultancy Agility Research ...