News

Bloomberg Honda Motor Co. agreed to pay $484 million to settle economic-loss claims tied to Takata Corp. air bag recalls, bringing total settlements over the faulty safety devices to more than $1 billion. The agreement will provide for faster replacement of recalled air bags and reimburse customers for out-of-pocket costs. The Honda deal follows a $533 million settlement with four ...

Bloomberg Vietnam wants to design and make cars for its 90 million motorbike and scooter riders. The country’s largest real-estate company Vingroup JSC said it plans to invest up to $3.5 billion to set up a manufacturing and research and development complex, aiming to roll out the first car in 24 months. The Hanoi-based developer will break ground on the ...

Bloomberg Indian billionaire Kumar Mangalam Birla is evaluating possible bids for Constellium NV and Aleris Corp. as his conglomerate seeks to grow its aluminum operations overseas, people with knowledge of the matter said. Deliberations are at an early stage, and Aditya Birla Group hasn’t yet decided whether to proceed with an offer for either business, according to the people. The ...

Bloomberg Asian buyers of liquefied petroleum gas are already paying for disruptions half a world away in Texas as record rainfall halted shipments of propane and butane from ports that handle more than 90 percent of US exports to the region. Marine export terminals operated by Enterprise Products Partners LP, Targa Resources Inc. and Phillips 66, all suppliers of the ...

VIENNA / WAM OPEC has commended the UAE’s commitment to adhere to its production adjustments for “the remaining period of the Declaration of Cooperation.” The Declaration was made at the joint OPEC-Non-OPEC Producing Countries’ Ministerial Meeting held on December 10, 2016 at which 11 (now 10) non-OPEC oil producing countries cooperated with the 13 (now 14) OPEC Member Countries in ...

DUBAI / WAM The Roads and Transport Authority (RTA) in Dubai has reiterated its endeavour and commitment to harness the world’s most sophisticated technologies, to be utilised in its diverse operations to support the delivery of its services to the various social segments of the public. The RTA and Siemens have therefore recently signed a Memorandum of Understanding (MoU), at ...

Dubai / WAM Dubai Electricity and Water Authority (DEWA) has announced that the adoption rate of its smart services has reached 80 percent, ahead of the deadline set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to reduce the number of visitors to government offices by 80 ...

ABU DHABI / WAM The Emirates Post Group (EPG) discussed cooperation with Universal Postal Union (UPU) in postal field. This came during a meeting between Chairman of EPG, Mohamed Sultan Al-Qadi, and UPU Director-General Bishar Hussein, Regional Coordinator of International Development Programme for African Countries Abdellatif Meskine. The meeting was attended by Chief Support Services Officer at EPG Sami Alkhaja, ...

DUBAI / WAM Abu Dhabi achieved a 4% uplift in hotel guests last month, compared to July 2016, with almost 400,000 guests pushing the cumulative total for the first seven months of the year to over 2.6 million, maintaining a growth of 7% on the year, according to figures released by Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi). ...

DUBAI / WAM Dubai’s leading conference organizer World Arena Group, is all set to host Dubai’s first women SME conference on the October 3 and 4 at V FIVE Palm Jumeirah, Dubai. With an expected attendance of over 200 women from across the Middle East, the Women SME conference in partnership with Dubai Business Women Council will cover various topics ...