RAK Free Trade Zone to Host World Free Zone Convention in November

July 26, 2010 By Leave a Comment

RAS AL KHAIMAH, United Arab Emirates–(Business Wire)–
The Ras Al Khaimah Free Trade Zone[RAK FTZ] – one of the fastest-growing and
most cost-effective free trade zones in the UAE, today announced that it will be
hosting the World Free Zone Convention [WFZC] in November 2010. This is the
first-of-its-kind free zone convention to be held in the Middle East.

To be held under the patronage of His Highness Sheikh Saqr bin Mohammad Al
Qasimi, member of the Supreme Council, Ruler of Ras Al-Khaimah and his Highness
Sheikh Saud Bin Saqr Bin Mohammed Al Qasimi, Crown Prince and Deputy Ruler of
Ras Al Khaimah, the two-day conference and exhibition will be held on November 2
and 3, 2010 at Al Hamra Convention Centre & Hamra Hotels & Resorts in RAK.

RAK FTZ will also be the Platinum Sponsor of the two-day conference and
exhibition. This year`s convention marks the tenth anniversary of both WFZC and
RAK FTZ. Over 200 delegates from various free zones across the globe are
expected to take part in WFZC, which will be held under the theme `Gathering
Global Support For Free Zone Industry`.

WFZC 2010 will be held under the slogan: “Harnessing economic zones worldwide to
the cause of economic recovery, dynamic growth and strengthened world trade.”

This was announced at a press conference held in RAK today, attended by His
Highness Sheikh Faisal Bin Saqr Al Qasimi, Chairman of RAK FTZ, Oussama El
Omari, CEO of RAK FTZ, Graham Mather, Chairman of WFZC, and Maryam Al Murshedi
Al Shehhi, Deputy Director General of RAK FTZ.

In his comments, H.H. Sheikh Faisal Bin Saqr Al Qasimi said: “RAK is privileged
to be hosting and sponsoring the WFZC. This is the first time a convention of
such stature is being held in RAK and is an important milestone for both RAK and
RAK FTZ. We will utilise this unique chance to review the successes achieved in
the past decade and set benchmarks for the conventions to come.”

In his address, Mr Oussama El Omari said: “This year RAK FTZ marks its 10th
anniversary and what better way to mark this than hosting and sponsoring the
10th edition of WFZC here in RAK. We are extremely proud of our achievements in
this last decade and we truly live up to our slogan — The Home of Business.”

He added: “Even in the extremely challenging 2009, registrations and company
revenue in the RAK FTZ have grown by 10 and 11 per cent respectively. And we
forecast 2,250 additional companies in 2010, which speaks a lot about our
vision. We are confident that the WFZC 2010 will offer a one-of-its-kind
opportunity for participants from various parts of the globe to explore the
immense growth potential of free trade zones and help learn new initiatives that
will bring economic and trade development all around.”

Highlighting the details of the convention, Mr Graham Mather said: “We have come
a long way since the first WFZC convention in London in June 2001 and are
privileged to bring the 2010 convention to RAK, which has carved a niche with
its proactive growth and expansion strategies. During WFZC 2010, we are inviting
several multinationals who will offer their valuable feedback on their
experiences in free zones. Similarly, we will also look at explaining the
various benefits accrued to investors if they are part of the free zone
community and ways to best utilise the zones.”

The conference will also look into relations and strategies between the various
zones, government authorities as well as private companies. Case studies of
various sectors and companies will also be discussed during the forum. The
second day of the conference will examine the current issues affecting free
zones across different regions.

“As a facilitator, we will look at steps to help foster the image of zones and
their contribution to the global economy,” said Mr Mather, adding the early bird
registration period ends on 30 September. Details about the convention, hotel
accommodation and airport transfers are available on www.freezones.org and
www.wfzc2010.com.

*Source: ME NewsWire

View this release online: http://www.me-newswire.com/news/2160

For more information About Ras Al Khaimah Free Trade Zone please visit:

http://www.rakftz.com/en

Photos/Multimedia Gallery Available:

http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6372006〈=en

Ras Al Khaimah Free Trade Zone Authority (RAK FTZA)
Cleo Eleazar, +971-7-2077173
PR and Media Officer
c.eleazar@rakftz.com
or
BPG PR, Dubai
Ashutosh Gupta, +9714-295 3456 / +97155- 5088835
ashutosh@batespangulf.com

Copyright Business Wire 2010

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

BlackBerry poses social and security risks, UAE warns

July 26, 2010 By Leave a Comment

(Reuters) – The BlackBerry, made by Canada’s Research In Motion (RIM.TO)(RIMM.O), is open to misuse that poses security risks to the United Arab Emirates, which said on Sunday it would seek to safeguard its consumers and laws.

Gulf state Bahrain in April warned against the use of BlackBerry Messenger software to distribute local news, drawing criticism from media freedom watchdog Reporters Without Borders (RSF) which called it an act of censorship.

That sparked concerns that other Gulf countries might also consider curbing the use of certain applications on the BlackBerry, which holds around 20 percent of the global smartphone market behind Nokia (NOK1V.HE) but ahead of Apple APPL.O.

BlackBerry was operating “beyond the jurisdiction of national legislation,” the UAE’s Telecommunications Regulatory Authority said in a statement issued on Sunday.

“As a result of how BlackBerry data is managed and stored, in their current form, certain BlackBerry applications allow people to misuse the service, causing serious social, judicial and national security repercussions.”

The UAE was working to resolve “these critical issues with the objective of finding a solution that safeguards our consumers and operates within the boundaries of UAE law.”

Earlier this month, RIM said it was preparing to launch an applications store and consumer Internet services in China as part of its push into the world’s top mobile market.

A long-running censorship dispute between Beijing and Google Inc (GOOG.O) was only recently resolved. Google had said it might be forced to abandon the Chinese market because of hacking attacks and censorship concerns.

(Writing by Raissa Kasolowsky; Editing by Jason Neely)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

BlackBerry poses social, security risks, UAE warns

July 26, 2010 By Leave a Comment

DUBAI, July 25 (Reuters) – The BlackBerry, made by Canada’s Research In Motion (RIM.TO)(RIMM.O), is open to misuse that poses security risks to the United Arab Emirates, which said on Sunday it would seek to safeguard its consumers and laws. Gulf state Bahrain in April warned against the use of BlackBerry Messenger software to distribute local news, drawing criticism from media freedom watchdog Reporters Without Borders (RSF) which called it an act of censorship.

That sparked concerns that other Gulf countries might also consider curbing the use of certain applications on the BlackBerry, which holds around 20 percent of the global smartphone market behind Nokia (NOK1V.HE) but ahead of Apple APPL.O.

BlackBerry was operating “beyond the jurisdiction of national legislation”, the UAE’s Telecommunications Regulatory Authority said in a statement issued on Sunday.

“As a result of how BlackBerry data is managed and stored, in their current form, certain BlackBerry applications allow people to misuse the service, causing serious social, judicial and national security repercussions.”

The UAE was working to resolve “these critical issues with the objective of finding a solution that safeguards our consumers and operates within the boundaries of UAE law.”

Earlier this month, RIM said it was preparing to launch an applications store and consumer Internet services in China as part of its push into the world’s top mobile market. [ID:nN09260322]

A long-running censorship dispute between Beijing and Google Inc (GOOG.O) was only recently resolved. Google had said it might be forced to abandon the Chinese market because of hacking attacks and censorship concerns. (Writing by Raissa Kasolowsky; Editing by Jason Neely)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Research and Markets: Outlook of Future LNG Markets – Analysis and Forecasts of Upcoming 20 Potential LNG Markets

July 23, 2010 By Leave a Comment

DUBLIN–(Business Wire)–
Research and Markets
(http://www.researchandmarkets.com/research/69db00/outlook_of_future) has
announced the addition of the “Outlook of Future LNG Markets- Analysis and
Forecasts of Upcoming 20 Potential LNG Markets” report to their offering.

Outlook of Future LNG Markets – Analysis and Forecasts of Upcoming 20 Potential
LNG Markets

Global LNG markets have evolved strongly over the last decade. With declining
construction and operational costs, the spread of LNG markets is rising rapidly.
Robust natural gas demand coupled with supply diversity advantages are resulting
in an increased number of countries participating in world LNG trade. Between
2010 and 2015, 21 new countries are expected to start LNG trading, providing a
strong scope for companies existing or planning to enter LNG market.

Entry of these markets is expected to result in diversification of global LNG
market and growth in trade volumes. However, the price bases will not alter in
the near future. On one hand, the industry provides a larger scope of
investments for new entrants and existing players but on the other hand, it can
reduce the domination of the existing majors.

To evaluate the pros and cons of entering these markets and making contracts
with companies in these countries, LNGReports has come up with the brand new
report Outlook of Future LNG Markets- Analysis and Forecasts of Upcoming 20
Potential LNG Markets. The report evaluates each of these markets through new
innovative tools like benchmarking and positioning map. Further, through
information on planned investments and market structures, the report gives you a
complete insight into 21 evolving LNG markets

Scope

* The report analyses 16 regasification (Bahamas, Bangladesh, Croatia, Germany,
Indonesia, Ireland, Jamaica, Netherlands, Pakistan, Philippines, Poland,
Singapore, Sweden, Thailand, United Arab Emirates, Uruguay) and 6 Liquefaction
countries (Angola, Canada, Iran, Papua New Guinea, Peru, Venezuela), which are
expected to start LNG operations between 2010 and 2015
* Yearly forecasts of capacities, trains, capital investment and trade movements
are provided for each country for the next five years
* Key factors driving growth of LNG with primary challenges facing these
countries are analyzed
* Details information on 20 planned LNG import and 12 LNG export terminals
including operator, ownership, construction cost and period, capacity, location
and expected commencement date
* Evolving markets in each region are benchmarked against different parameters
including supply, demand and economic indexes
* Expected market share of companies in 2015 in these evolving markets are
provided by region

Key Topics Covered:

1 Table of contents

2 Executive Summary

3 Outlook of Future LNG markets in Asia Pacific

4 Outlook of Future LNG markets in Europe

5 Outlook of Future LNG markets in Middle East Africa

6 Outlook of Future LNG markets in Americas

7 Appendix

For more information visit

http://www.researchandmarkets.com/research/69db00/outlook_of_future

Research and Markets
Laura Wood, Senior Manager,
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Copyright Business Wire 2010

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Goodrich and Mubadala Aerospace Sign Agreement to Form Landing Gear MRO Joint Venture in Abu Dhabi, United Arab Emirates

July 21, 2010 By Leave a Comment

CHARLOTTE, N.C., July 20, 2010 /PRNewswire-FirstCall/ — FARNBOROUGH AIRSHOW — Goodrich Corporation (NYSE: GR) and Mubadala Aerospace, a business unit of Mubadala Development Company, today signed a heads of agreement (HOA) to establish a joint venture company in the United Arab Emirates (UAE) to perform maintenance, repair and overhaul (MRO) work on landing gear. The joint venture company would be the Middle East’s first dedicated landing gear service provider once fully operational in 2012. The joint venture is subject to negotiation and execution of the definitive joint venture agreement.

The HOA was signed during the Farnborough Airshow by Mike Brand, president, Goodrich Landing Gear and Homaid Al Shemmari, executive director of Mubadala Aerospace. The signing was also attended by Troy Lambeth, the chief executive of Mubadala’s recently established spare engine and rotable leasing subsidiary, Sanad Aero Solutions (Sanad).

Under the terms of the HOA, the joint venture company will provide MRO services and rotable support for landing gear on commercial aircraft with its primary focus on customers in the Middle East region. Sanad is expected to play a key role in supporting the joint venture company with rotable landing gear assets. The company will initially support both Boeing and Airbus commercial aircraft, including the A380 and B777 models, with plans to extend to other commercial and military markets. The facility will be based in Al Ain in the Emirate of Abu Dhabi, alongside other Mubadala Aerospace companies including Strata, the composite manufacturing facility and AMMROC, the military MRO center.

Commenting on the agreement, Brand said, “This represents a significant commitment to our customers in the fast-growing Middle East region. By combining the original equipment and MRO expertise of Goodrich with Mubadala’s growing aerospace network and rotable asset leasing, we can truly provide an improved value to customers in the region.”

Al Shemmari said, “This agreement emphasizes the continued development of Mubadala Aerospace’s global MRO network. In Goodrich we have a relationship with one of the world’s top aerospace companies that brings their expertise to a new regional hub in the Middle East. The UAE already has the world’s largest wide body fleet in the region and the new facility will deliver much needed landing gear capability for our existing and future customers.”

Goodrich technology for commercial and military aerospace and defense applications will be on display at the 2010 Farnborough Airshow. Visit the company’s pavilion at OE4, located between hall 1 and chalet rows A and B.

Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense and homeland security markets. With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities. For more information visit http://www.goodrich.com.

Goodrich Corporation operates through its divisions and as a parent company for its subsidiaries, one or more of which may be referred to as “Goodrich Corporation” in this press release.

About Mubadala Development Company

Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of Abu Dhabi. Established and owned by the Government of Abu Dhabi, the company’s strategy is built on the management of partnerships and long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and contribute to the growth and diversification of its economy.

Mubadala brings together and manages a multi-billion dollar portfolio of local, regional, and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors including aerospace, energy, healthcare, industry, information communications and technology, infrastructure, real estate and hospitality. For more information about Mubadala please visit www.mubadala.ae.

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FEATURE-Migrant workers collateral damage of UAE slump

July 21, 2010 By Leave a Comment

SHARJAH, United Arab Emirates, July 20 (Reuters) – Under an unforgiving sun, South Asian workers stir giant pots of rice, their only food, in a barren patch of desert 80 km from a gleaming Dubai skyline built over decades by migrant labour.

Abandoned by employers who left the United Arab Emirates after the Dubai economy soured, the men cannot afford to stay, but they also cannot leave. They have not been paid for months and their passports were confiscated long ago.

These workers, and thousands like them stranded in business hub Dubai and neighbouring emirate Sharjah, are the human collateral damage of the world economic crisis that crippled Dubai’s building frenzy.

“We’re stuck here while our families back home in India face a dark future with no money. I don’t have a single fils (cent),” said Mohan, a worker whose employer, a labour supply company, fled the UAE two months ago.

The UAE transformed itself in a half century from a small Gulf Arab fishing and trade centre on a desert coast into a regional business and tourism hub on the back of cheap foreign labour.

But now, as companies contract or fold all together, some employers are slipping out of the country, leaving work camps filled with stranded migrants with nowhere to go.

The gas and electricity have now been cut to Mohan’s work camp in Sharjah, which houses 350 technicians and drivers. The men have no air conditioning — critical in a desert country where summer temperatures hit 47 degrees Celsius (116 Fahrenheit).

Stories like those of the Sharjah camp are growing more common, said Saher Shaikh, a well-off Pakistani expatriate who runs charity efforts to provide the workers food and medicine.

“They are promised pay, and told to keep working,” she said. But the management flees, work stops, and wages never come.

The UAE has faced criticism from rights groups who say companies go unpunished as they flout laws to ensure workers are paid on time and their papers not withheld. Others say the government’s task is daunting because of the speed at which some companies pulled up stakes.

“The government is trying its best. It’s hard to stop this exploitation of workers,” said Ebtisam al-Kitbi, a UAE analyst. She said the UAE now required companies to set up automated payment through banks to ensure workers get their wages.

The workers in the Sharjah camp say they have not been paid monthly wages of about 800 dirhams ($217) in six months to a year, and their families are going hungry. At their employer’s office, the phones ring and ring, but no one answers.

Stuck in Sharjah, the men wait, crammed into camps of indistinguishable, crumbling housing blocks like worker bees in a honeycomb. A brown trail of sewage oozes between buildings, its suffocating stench spreading nausea and fever among the men.

The Ministry of Labour, which did not reply to requests for comment, has been slowly answering workers’ calls for help: It sent home around 1,500 labourers in June and paid their wages.

But months have passed as Mohan and his coworkers in Sharjah wait for help from the Labour Ministry and Indian Embassy, who have retrieved their passports and promise to send them home.

DEADLY DEBT

Daintily picking through the litter-strewn Sharjah camp in silver shoes and a flowing cloak, Shaikh listens as men flock around her to vent their frustrations, some holding back tears.

“We just sit and sleep, and have too much time to worry. We just want to go back to India,” one man in the crowd pleads.

For the past four years, Shaikh, 33, has been making regular visits to dozens of camps, bringing donated food and hygiene products. But it was only in the past year she began to find workers completely stranded and in dire need, she said.

“With the economic climate the way it is now, so many companies are doing this,” she said. “The camp right next door is in the same situation. That’s how common it is. It’s next door. We don’t even have to find them.”

Dubai’s 6-year boom that fuelled construction of the world’s tallest building and palm-shaped islands slammed to a halt in 2008 after the global financial crisis. Millions of dollars of construction projects were slashed or put on hold.

The faltering economy can be particularly hard on those unpaid workers with hefty balances outstanding on loans they took to pay recruiters to bring them to Dubai for work.

“That’s why we see suicides happen,” Shaikh said, noting that the suicide rate had spiked since last year. “They think if they kill themselves the loan sharks will leave their families at home alone. But they don’t. They’ll still go after them.”

Many workers, promised unrealistic salaries, take loans of $2,000 to $4,000 to pay recruitment agencies to bring them to the UAE, even though the law here bans the practice.

In boom times, labourers quickly paid back loans through overtime. Now, the cranes and drills lie idle and the men, without even their base wages, say their families are suffering.

“My family is hungry,” Mohan said. “I had two kids trying to get a degree, and now what? There is no money to study.”

Shaikh blamed the companies for the workers’ plight. “It’s 100 percent their fault,” she said. “They could have afforded to send the men home fairly. Instead they’ve left them here to rot, while they’re far away driving their BMWs.”

But Samer Muscati, from Human Rights Watch, said the UAE was responsible for not enforcing its laws. “Obviously, the state has failed if this is happening on such a wide scale,” he said.

Surprisingly, the stranded workers, so desperate to leave, are equally anxious to return to the United Arab Emirates.

“We will all come back, what else can we do? We have no choice,” Mohan said, shaking his head. “There is no other work.” (Additional reporting by Warda Al-Jawahiry; Editing by Cynthia Johnston)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Migrants workers collateral damage of UAE slump

July 21, 2010 By Leave a Comment

United Arab Emirates (Reuters) – Under an unforgiving sun, South Asian workers stir giant pots of rice, their only food, in a barren patch of desert 80 km from a gleaming Dubai skyline built over decades by migrant labor.

Abandoned by employers who left the United Arab Emirates after the Dubai economy soured, the men cannot afford to stay, but they also cannot leave. They have not been paid for months and their passports were confiscated long ago.

These workers, and thousands like them stranded in business hub Dubai and neighboring emirate Sharjah, are the human collateral damage of the world economic crisis that crippled Dubai’s building frenzy.

“We’re stuck here while our families back home in India face a dark future with no money. I don’t have a single fils (cent),” said Mohan, a worker whose employer, a labor supply company, fled the UAE two months ago.

The UAE transformed itself in a half century from a small Gulf Arab fishing and trade center on a desert coast into a regional business and tourism hub on the back of cheap foreign labor.

But now, as companies contract or fold all together, some employers are slipping out of the country, leaving work camps filled with stranded migrants with nowhere to go.

The gas and electricity have now been cut to Mohan’s work camp in Sharjah, which houses 350 technicians and drivers. The men have no air conditioning — critical in a desert country where summer temperatures hit 47 degrees Celsius (116 Fahrenheit).

Stories like those of the Sharjah camp are growing more common, said Saher Shaikh, a well-off Pakistani expatriate who runs charity efforts to provide the workers food and medicine.

“They are promised pay, and told to keep working,” she said. But the management flees, work stops, and wages never come.

The UAE has faced criticism from rights groups who say companies go unpunished as they flout laws to ensure workers are paid on time and their papers not withheld. Others say the government’s task is daunting because of the speed at which some companies pulled up stakes.

“The government is trying its best. It’s hard to stop this exploitation of workers,” said Ebtisam al-Kitbi, a UAE analyst. She said the UAE now required companies to set up automated payment through banks to ensure workers get their wages.

The workers in the Sharjah camp say they have not been paid monthly wages of about 800 dirhams ($217) in six months to a year, and their families are going hungry. At their employer’s office, the phones ring and ring, but no one answers.

Stuck in Sharjah, the men wait, crammed into camps of indistinguishable, crumbling housing blocks like worker bees in a honeycomb. A brown trail of sewage oozes between buildings, its suffocating stench spreading nausea and fever among the men.

The Ministry of Labor, which did not reply to requests for comment, has been slowly answering workers’ calls for help: It sent home around 1,500 laborers in June and paid their wages.

But months have passed as Mohan and his coworkers in Sharjah wait for help from the Labor Ministry and Indian Embassy, who have retrieved their passports and promise to send them home.

DEADLY DEBT

Daintily picking through the litter-strewn Sharjah camp in silver shoes and a flowing cloak, Shaikh listens as men flock around her to vent their frustrations, some holding back tears.

“We just sit and sleep, and have too much time to worry. We just want to go back to India,” one man in the crowd pleads.

For the past four years, Shaikh, 33, has been making regular visits to dozens of camps, bringing donated food and hygiene products. But it was only in the past year she began to find workers completely stranded and in dire need, she said.

“With the economic climate the way it is now, so many companies are doing this,” she said. “The camp right next door is in the same situation. That’s how common it is. It’s next door. We don’t even have to find them.”

Dubai’s 6-year boom that fueled construction of the world’s tallest building and palm-shaped islands slammed to a halt in 2008 after the global financial crisis. Millions of dollars of construction projects were slashed or put on hold.

The faltering economy can be particularly hard on those unpaid workers with hefty balances outstanding on loans they took to pay recruiters to bring them to Dubai for work.

“That’s why we see suicides happen,” Shaikh said, noting that the suicide rate had spiked since last year. “They think if they kill themselves the loan sharks will leave their families at home alone. But they don’t. They’ll still go after them.”

Many workers, promised unrealistic salaries, take loans of $2,000 to $4,000 to pay recruitment agencies to bring them to the UAE, even though the law here bans the practice.

In boom times, laborers quickly paid back loans through overtime. Now, the cranes and drills lie idle and the men, without even their base wages, say their families are suffering.

“My family is hungry,” Mohan said. “I had two kids trying to get a degree, and now what? There is no money to study.”

Shaikh blamed the companies for the workers’ plight. “It’s 100 percent their fault,” she said. “They could have afforded to send the men home fairly. Instead they’ve left them here to rot, while they’re far away driving their BMWs.”

But Samer Muscati, from Human Rights Watch, said the UAE was responsible for not enforcing its laws. “Obviously, the state has failed if this is happening on such a wide scale,” he said.

Surprisingly, the stranded workers, so desperate to leave, are equally anxious to return to the United Arab Emirates.

“We will all come back, what else can we do? We have no choice,” Mohan said, shaking his head. “There is no other work.”

(Additional reporting by Warda Al-Jawahiry; Editing by Cynthia Johnston)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

UAE’s Aabar to raise minority buyout price

July 19, 2010 By Leave a Comment

(Reuters) – UAE government officials have told Aabar Investments (AABAR.AD) to raise its buyout offer to minority shareholders by over a third after the Abu Dhabi company angered investors with a lowball bid.

Aabar, controlled by government investment vehicle International Petroleum Investment Corp (IPIC), must increase the price to 1.95 dirhams per share from the 1.45 announced last week, the United Arab Emirates’ bourse watchdog said in a statement on Sunday, citing the ruling of a panel that included officials from the UAE economy ministry.

It said the new offer price is based on the average closing price of the share in the six months preceding the offer.

The announcement from the Emirates Securities & Commodities Authority (SCA) sent Aabar’s share price up 8.3 percent to 1.59 dirhams and drew renewed criticism from an investment community already angry that the initial offer was so low.

“The timing has been unfortunate. The suggestion that 1.45 would be the trade price would have caused investors to sell around that level,” says Zahed Chowdhury of Al Mal Capital.

“The fact there are no clear rules and regulations for such events didn’t help anybody.”

Another investor said trading in the investment firm, whose holdings include about 9 percent of German carmaker Daimler (DAIGn.DE) and 4.99 percent of Italian bank UniCredit (CRDI.MI), should have been halted after news on July 12 that the government panel would study the offer.

“Who will profit and who will lose and who will compensate (those) who had to sell last week between 1.42 and 1.45?” said Mohamed Ali Yasin, CEO of Shuaa Securities.

“I believe that the small investor got mostly hurt in this, and he is the one the regulator is trying to protect the most in this market, and that is not what happened here.”

In Sunday’s announcement, SCA also said the offer period should run from July 20 until August 5. The original period was July 12-August 1.

A shareholder meeting to approve delisting is scheduled for August 15. The statement also said the transaction should be complete by August 10.

DELISTING AFTER LESS THAN 5 YEARS

The delisting move was announced earlier this year and some investors had hoped for a much higher price.

It takes Aabar, one of the more transparent groups in the secretive world of sovereign funds since its IPO in late 2005, back into the shadows, and marks the first retreat of a local firm from the Abu Dhabi bourse.

Aabar is majority owned by IPIC, and has assets estimated at about $10 billion, including the stakes in Daimler and UniCredit, which are together worth about $7.8 billion based on Reuters data and closing share prices last week.

According to Abu Dhabi bourse data, IPIC holds 75.5 percent of Aabar.

PRICE STILL TOO LOW?

Valuation is tricky, and it is unclear exactly how many shares are in issue and how many are held by minorities, but investors say even the improved offer undervalues their holdings.

“It is difficult to come up with a valuation because there isn’t complete transparency in terms of the derivatives on Aabar’s balance sheet,” says Robert McKinnon, ASAS Capital chief investment officer.

(But) “The rest is typically fairly easy to value because it is a pretty much a holding company and so we can look at its net asset value, which is essentially the book value.

“The offer price is about 55 to 60 percent of this and the question a lot of people are asking is; Why there is such a discrepancy?”

McKinnon said he nevertheless expects minority shareholders to accept Aabar’s revised offer, although cheap compared to the company’s balance sheet, because of the current economic environment.

Aabar and IPIC were not immediately available for comment.

(Additional reporting by Stanley Carvalho in Abu Dhabi, Writing by Andrew Callus, Editing by Dinesh Nair)

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UPDATE 1-UAE watchdog asks for higher Aabar buyback price

July 19, 2010 By Leave a Comment

July 18 (Reuters) – Abu Dhabi state fund Aabar Investments (AABAR.AD) should raise the buyback price it pays minority shareholders to 1.95 dirhams per share from 1.45 previously, the United Arab Emirates’ bourse watchdog said on Sunday.

The move follows complaints from shareholders that the initial price was too low. Aabar shares jumped 9.7 percent to 1.59 dirhams in early trading on the Abu Dhabi bourse. On July 12, a committee including Emirates Securities & Commodities Authority (ESCA) and the ministry of the economy met with Aabar to come up with a proposal for its buyback plan.

It asked Aabar to raise the offer price and to change the period in which it is open to July 20-Aug. 5 from July 12-Aug. 1, the watchdog’s statement said. (Reporting by Andres Callus, Editing by Dinesh Nair)

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UAE’s ADIB launches $5 bln sukuk issuance program

July 15, 2010 By Leave a Comment

July 14 (Reuters) – Abu Dhabi Islamic Bank ADIB.AD plans to raise as much as $5 billion through the sale of Islamic bonds, or sukuk, under a trust certificate issuance program detailed in a July 8 prospectus.

The second-largest lender in the United Arab Emirates posted the prospectus on the London Stock Exchange on Tuesday, listing HSBC (HSBA.L) as the lead arranger on the Islamic bond program.

State-controlled ADIB did not provide a reason for the sukuk issuance program, but the bank, like many other UAE financial institutions, has been forced to take provisions against bad loans amid the global financial crisis and turmoil over Dubai World’s [DBWLD.UL] restructuring.

In addition, ADIB’s chief executive said in April that the bank is planning to expand in retail banking, with a target of 70 branches across the UAE by the end of the year compared with 55 at the end of the first quarter.

ADIB said in a separate statement on Wednesday that it has postponed its board of directors meeting to approve second quarter earnings. The meeting, originally scheduled for later Wednesday will now take place on Sunday. (Reporting by Shaheen Pasha; Editing by Andrew Callus)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Northrop Grumman’s Fire Scout Vertical Unmanned System Successfully Completes Testing…

July 15, 2010 By Leave a Comment

Northrop Grumman’s Fire Scout Vertical Unmanned System Successfully Completes
Testing Under Extreme Environmental Conditions

ABU DHABI, UAE, July 14, 2010 (GLOBE NEWSWIRE) — With the support of the United
States Navy, Northrop Grumman Corporation (NYSE:NOC) and its industry partners
(Sikorsky/Schweizer, Rolls-Royce, Raytheon, FLIR Systems, Cubic, Kearfott,
Rockwell-Collins, General Electric, Sierra Nevada, Telephonics, and L-3
Communications) today successfully completed a rigorous set of flight
demonstrations of the MQ-8B Fire Scout vertical unmanned aerial system (VUAS) in
the United Arab Emirates under extreme environmental conditions.

A social media version of this news release, which includes key facts, quotes,
photos, video clip and other relevant links and information can be found at

http://www.irconnect.com/noc/press/pages/news_releases.html?d=196314

The test flights were conducted in early July over a ten day period in the
United Arab Emirates. They validated Fire Scout’s steady system maturation and
helped signal its readiness for the U.S. Navy’s upcoming Operational Evaluation
of the system, planned for late 2010 aboard the USS Halyburton (FFG-40).

“We welcome Northrop Grumman and the U.S. Navy to the UAE for continued testing
of the Fire Scout,” said Ali Al Yafei of ADASI (Abu Dhabi Autonomous Systems
Investment). “As a VUAS, Fire Scout has many unique capabilities to offer and
we’re looking forward to reviewing the results of this in-country testing.”

The Fire Scout demonstrations included numerous takeoffs and landings in hot,
windy and sandy conditions in temperatures as high as 47 degrees Celsius (117
degrees Fahrenheit). The VUAS also conducted various test flights at altitudes
up to 3,000 meters (9,842 feet) . These demonstration missions included
non-line-of-sight operations that showcased Fire Scout’s ability to operate
autonomously in remote locations, and its FLIR Systems electro-optical/infrared
(EO/IR) sensing capabilities used to locate and acquire targets.

Video imagery from the testing was presented today at a post-testing event to an
audience of interested multi-national government agencies, and domestic and
international media. The imagery, a compilation of video produced by Fire
Scout’s sensors during field trials, demonstrated the VUAS’s real-time
imagery-transmission capability, a vital element of the intelligence,
surveillance and reconnaissance missions it performs for military forces.

“Today’s demonstration was very impressive and reinforces the continued
maturation of the Fire Scout system and its capabilities,” said John Brooks,
president of Northrop Grumman International Inc. “Northrop Grumman thanks the
UAE for being such a gracious host and offering us the opportunity to test Fire
Scout in the extreme heat of summer. The UAE represents an important partnership
for Northrop Grumman and our customers internationally demand the best. We are
committed to continuing to meet and exceed their expectations.”

The only U.S. Department of Defense VUAS program of record, Fire Scout is a
mature, flexible and reliable system whose capabilities can serve as a true
force multiplier.

“The capabilities that Fire Scout delivers to warfighters really stood out
today,” said Duke Dufresne, sector vice president and general manager for the
Strike and Surveillance Systems Division of Northrop Grumman’s Aerospace Systems
sector. “It’s clear from this demonstration that Fire Scout can do exactly what
it’s designed to do: extend the range at which we can gather crucial information
during peacekeeping or wartime missions.”

Northrop Grumman Corporation is a leading global security company whose 120,000
employees provide innovative systems, products, and solutions in aerospace,
electronics, information systems, shipbuilding and technical services to
government and commercial customers worldwide. Please visit
www.northropgrumman.com for more information.

CONTACT: Nathan Drevna
Northrop Grumman Aerospace Systems
(703) 741-7393
(571) 286-8440 mobile
nathan.drevna@ngc.com

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Melrose Jewelers Is Now the #1 Online Rolex Retailer in the U.A.E. and Middle East

July 11, 2010 By Leave a Comment

ABU DHABI, UNITED ARAB EMIRATES, Jul 10 (MARKET WIRE)
–
Melrose Jewelers: Melrose Jewelers, USA’s #1 Online Rolex Watch Retailer,
today announced that it has become the #1 Online Rolex Retailer in the
Middle East including the United Arab Emirates (U.A.E.), Saudi Arabia,
Kuwait, Iraq, Israel, Qatar, and other free nations within the Middle
Eastern region. In Q1 and Q2 2010 Melrose Jewelers achieved the #1
ranking for the search term “Rolex” and “Rolex Watches” and its
percentage revenue from the Middle Eastern region jumped to over 5%.

Vanessa Puzio of Melrose Jewelers states, “We have always had strong
demand from Dubai and Abu Dhabi as many U.A.E. executives and even
Shaikhs have come to our website to purchase very high-end customized
watches for themselves, their families, and especially as gifts for their
loyal employees and followers. In the first half of 2010 we saw a huge
increase in demand especially from cities such as Riyadh, Saudi Arabia,
Kuwait City, Kuwait, Tel Aviv, Israel, and Jeddah, Saudi Arabia due to a
strong currency correlation with the strong U.S. dollar. As a result we
have now customized many of our higher-end Rolex President watches on our
New Arrivals page for the Middle East marketplace.”

Several of the Rolex watch models customized for the Middle Eastern
market including Dubai, Abu Dhabi, Kuwait City, Tel Aviv, Jeddah, Riyadh,
and Baghdad include the:
(simply visit MelroseJewelers.com and enter the
3-digit code in the search box)

1. Men’s Silver Dial Channel Set Bezel Rolex Day Date Super President (128)

2. Men’s Diamond Lugs Champagne Dial Rolex Day Date President (120)

3. Ladies’ Mother of Pearl Dial Ruby Channel Set Bezel Rolex President
(442)

4. Men’s Stainless Steel Black Mother of Pearl String Dial Rolex Datejust
(369)

5. Men’s Stainless Steel and Diamond Lugs Silver Dial Rolex Datejust (305)

About Melrose Jewelers

Melrose Jewelers is the nation’s leading online retailer of Rolex wrist
watches including mens watches and ladies luxury watches and its
associates have, collectively, over 220 years of experience in importing,
restoring, and retailing Rolex and other luxury watches. Melrose Jewelers
was founded with one simple premise: Buying a Rolex or other luxury watch
shouldn’t be mysterious or complicated. Similar to the innovative yet
simple business models of Progressive Insurance, CarMax, or Blue Nile,
Melrose Jewelers provides customers with low, no-haggle pricing, luxury
Rolex watches that are either new and unworn or pre owned and restored to
original factory specifications both inside and outside, and a
comprehensive 2-year warranty. Melrose Jewelers also employs a staff of
top university-educated Trained Experts that provide customer service
that extends from your initial sales call until years after you’ve
received your purchase. Melrose Jewelers is a proud member of the
Jeweler’s Vigilance Committee, the Manufacturers and Jewelers Association
of America, the International Watch & Jewelry Guild, the National
Association of Watch Collectors, and the California Sheriff’s
Association. Melrose Jewelers uses only Conflict-Free Diamonds and those
imported through the Kimberley Process as signed into act by U.S.
Congress in 2003. Melrose Jewelers is not an authorized agent or
affiliated with Rolex USA, Rolex S.A., Rolex International, Breitling, or
Patek Philippe luxury watches. Rolex Day Date, Rolex President, Rolex GMT
Master, Rolex Daytona, Rolex Oyster Perpetual Datejust, Rolex
PearlMaster, Rolex Masterpiece, Rolex Super President, Rolex Submariner,
Rolex Yacht-Master, Rolex Explorer and Rolex Sea Dweller are all
trademarks of Rolex S.A. Melrose Jewelers’ watches contain custom,
aftermarket diamonds which will void the warranty of new Rolex watches.
Melrose Jewelers warranties its watches directly and Rolex S.A. has no
obligation to warranty any watches sold by Melrose Jewelers.

Melrose Jewelers also hosts the Melrose Jewelers (MJ) Rolex Watch Blog.
The MJ Rolex Watch Blog is the world’s largest independent forum website
about Rolex events and Rolex and other luxury watches in pop culture.
With over 300 user-posted articles and new articles and commentary
updated daily, the Melrose Jewelers Rolex watch blog contains articles
about Rolex watches owned and popularized by Barack Obama, Warren
Buffett, Steve Jobs, Cristiano Ronaldo, Sienna Miller, Sean Penn,
Courtney Cox, Andy Roddick, LeBron James, Tara Reid, Danica Patrick,
Matthew McConaughey, Steven Wynn, Calvin Klein, Jamie Lynn Sigler, Eva
Longoria Parker, Tobey Maguire, Michael Dell, Ashton Kutcher, the Jonas
Brothers, Rafael Nadal, Roger Federer, Colt McCoy, Sam Bradford, Adriana
Lima, Arnold Schwarzenegger, Bill Murray, Barry White, Anne Hathaway,
Michael Jackson, Tony Soprano, Lindsay Lohan, Eddie Murphy, Anish Kapoor,
Tom Selleck, Jennifer Garner, Donald Trump, Jennifer Lopez, Lance
Armstrong, John Mayer, Cameron Diaz, Justin Timberlake, Brad Pitt, Drew
Barrymore, Matt Lauer, Sophie Marceau, Tim Tebow, Jay-Z, Zara Phillips,
O.J. Simpson, Madonna, Ana Ivanovic, Jennifer Aniston, Paris Hilton,
Orlando Bloom, Tupac Shakur, Cuba Gooding Jr, Lily Allen, & Wiley. Blog
postings on the MJ Rolex Watch Blog are submitted by independent Rolex
enthusiasts and not by Melrose Jewelers.

About the Melrose Jewelers Middle Eastern Website

Melrose Jewelers, the Middle East’s #1 Online Rolex Retailer, is
available at MelroseJewelers.com and www.melrosejewelers.ae . Melrose
Jewelers caters towards Middle Eastern cities including Abu Dhabi, Dubai,
Jeddah (Jiddah), Riyadh, Kuwait City, Baghdad, Istanbul, Tel Aviv,
Ankara, Basrah, Medinah, Sharjah, Al Ain, Hail, Ajman, Najran,
al-Hawiyah, and Ras al Khaymah.

Contact:
Vanessa Puzio
323-650-2127

Copyright 2010, Market Wire, All rights reserved.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

UAE’s RAK Airways to relaunch by end of 2010

July 2, 2010 By Leave a Comment

July 1 (Reuters) – RAK Airways, a United Arab Emirates based national carrier, would relaunch services before the end of 2010 after halting commercial operations over a year ago, local media said on Thursday.

Tough economic conditions in the wake of the global recession made the airline suspend scheduled services in May 2009, the English daily Khaleej Times reported.

“We are now ready to make a strategic re-entry into the market”, Shaikh Omar bin Saqr Al Qassimi, chairman of RAK Airways, said in a statement to Khaleej Times.

Financial difficulties after the downturn were “now sufficiently abated,” said the chairman of the carrier, which began operating in 2007 but had limited itself to charter services last year. (Reporting by Erika Solomon; Editing by Thomas Atkins)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

UAE telco Du raises $272 mln in rights issue

June 23, 2010 By Leave a Comment

June 22 (Reuters) – United Arab Emirates telecoms services provider Du (DU.DU) raised 1 billion dirhams ($272.3 million) as planned, the company said on Tuesday, to fund a growth plan and compete with market leader Etisalat (ETEL.AD).

Du, owned partly by the ruler of Dubai’s investment company Dubai Holding, and Abu Dhabi investment vehicle Mubadala Development Co., said in April it would pursue a rights issue to fund infrastructure improvements beyond 2010. [nLDE63I01K]

Shares were trading 3.6 percent lower at 0647 GMT and are down nearly 20 percent this year although du reported a more than fourfold increase in first quarter profit, driven by subscriber growth. “The rights issue was a strategic move for du … This additional capital will underpin the next stage of du’s growth,” said Chairman Ahmad Bin Byat in a statement posted on the bourse website.

The capital would not be used for acquisitions and the company has no plans for international expansion, chief executive Osman Sultan said in April.

The company plans to increase high-tech services such as its broadband offering and 3G for mobile data but has no intention to build its own core infrastructure such as a fibre-optic network, which it shares with rival Etisalat.

JP Morgan acted as coordinator and bookrunner for the rights issue.

(Reporting by Rachna Uppal; Editing by Thomas Atkins)

((rachna.uppal@thomsonreuters.com; +971 4 391 8301; Reuters Messaging: rachna.uppal.reuters.com@reuters.net)) Keywords: DU RIGHTS/

(C) Reuters 2010. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nLDE65L0AP

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Abu Dhabi oil firm orders ship from China’s Zhenhua

June 21, 2010 By Leave a Comment

June 20 (Reuters) – Abu Dhabi’s National Petroleum Construction Co (NPCC) has ordered a pipe-laying vessel from Shanghai Zhenhua Heavy Industry Co (600320.SS) (900947.SS), the UAE oil services firm said on Sunday.

Industrials

The vessel is expected to be built by the third quarter of 2012, an NPCC statement said. It did not give the value of the contract.

NPCC plans to spend $400 million to expand its fleet, it added.

Abu Dhabi holds the bulk of the crude reserves and oil revenue of the United Arab Emirates, the world’s third largest oil exporter. (Reporting by Amena Bakr; Editing by Jon Loades-Carter)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Abu Dhabi’s TAQA not planning bond issue in 2010-exec

June 21, 2010 By Leave a Comment

June 20 (Reuters) – Abu Dhabi National Energy Co (TAQA.AD) (TAQA) has no plans to issue a bond this year, after reported meetings with investors since early June in the United States, Asia and Europe, a company executive said on Sunday.

Utilities

TAQA, majority owned by the government of Abu Dhabi, held a series of presentations throughout June to update investors, with each leg organised by different banks, IFR, a unit of Thomson Reuters, reported.

“It was a non-deal road show to provide investors updates of the company,” Mohamed Mubaideen, manager for investor relations at TAQA told Reuters by telephone.

“This year we don’t expect a bond issuance. The company does not require any financing at the moment.”

Investor meetings are scheduled in the United Arab Emirates on June 22 in Abu Dhabi and June 23 in Dubai, organised by the National Bank of Abu Dhabi (NBAD.AD) (NBAD), IFR reported.

In September, TAQA issued a $1.5 billion bond in two tranches. Last month, the company said it has refinanced a C$1.33 billion credit facility of one of its units. [ID:nLDE64M01U] TAQA operates in 13 countries, including Canada, Britain and India and its interests include power generation, desalination, upstream oil and gas and structured finance, according to the company’s website.

In May, TAQA reported a more than sevenfold surge in first-quarter profit, attributing the increase to rising oil prices year-on-year. [ID:nLDE64B03A] (Reporting by Stanley Carvalho; Additional reporting by David French in London; Writing by Rachna Uppal; Editing by Jon Loades-Carter)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

French and Benelux stocks – Factors to watch on June 16

June 17, 2010 By Leave a Comment

June 16 (Reuters) – Below are company-related news and leading stories from French and Benelux media which could have an impact on the region’s markets or individual stocks.

Industrials

ZODIAC (ZODC.PA)

The French aerospace equipment supplier said on Tuesday it saw encouraging signs of recovery in the aerospace industry amid more favourable currency exchange rates as it confirmed its full-year objectives.

[ID:nLDE65E2AK] COFINIMMO (COFB.BR)

The Belgian property investment company said it had sold three buildings for a total amount of 36.8 million euros ($49.37 million). The proceeds would be reinvested, the group said.

[COFB.PA]

DASSAULT AVIATION (AVMD.PA)

France’s Defence Minister on Tuesday denied the cost of upgrading 60 Dassault Rafale jet fighters to the standard required by the United Arab Emirates had risen and said talks were being finalised with the Gulf Arab state.

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Qatar to be largest overseas property investor in 2010: report

June 14, 2010 By Leave a Comment

(Reuters) – Qatar is expected to be the largest source of global real estate capital during 2010, real estate consultancy Jones Lang LaSalle said in a report published on Sunday.

The country, which has emerged as “a new global powerhouse,” is expected to rank as the number one global overseas investor in 2010, according to the firm.

“Cash-rich and with a strong appetite for splashy overseas assets, Qatari vehicles have lately outshone their counterparts from the region and are projected to carry on with their rapid expansion across the real estate world,” the report said.

Recent investments — such as the purchase of London department store Harrods in May for around 1.5 billion pounds — are likely to be followed by further investments in other markets across Latin America, Eastern Europe and Asia, it said.

“Qatar is the epitome of energy-rich GCC nations, with a large appetite for real estate investment, fueled by the rapid growth in oil and gas revenues over recent years,” the report said.

Qatar’s competitive advantage will be helped by the decline in investment from German funds, which were among the major global investors in 2009, the report said.

Qatar, the world’s largest exporter of liquefied natural gas, was one of the fastest growing economies worldwide in 2009.

Its economy grew at an average pace of 17.4 percent over the past five years and it is set to largely outperform fellow Gulf oil producers such as Saudi Arabia and the United Arab Emirates in coming years.

A Reuters poll in April showed that Qatar’s economy was likely to expand by 16.1 percent this year.

(Reporting by Regan E. Doherty; Editing by Dinesh Nair)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Qatar to be largest overseas property investor in 2010- report

June 14, 2010 By Leave a Comment

DOHA, June 13 (Reuters) – Qatar is expected to be the largest source of global real estate capital during 2010, real estate consultancy Jones Lang LaSalle said in a report published on Sunday.

The country, which has emerged as “a new global powerhouse,” is expected to rank as the number one global overseas investor in 2010, according to the firm.

“Cash-rich and with a strong appetite for splashy overseas assets, Qatari vehicles have lately outshone their counterparts from the region and are projected to carry on with their rapid expansion across the real estate world,” the report said.

Recent investments — such as the purchase of London department store Harrods in May for around 1.5 billion pounds — are likely to be followed by further investments in other markets across Latin America, Eastern Europe and Asia, it said.

“Qatar is the epitome of energy-rich GCC nations, with a large appetite for real estate investment, fuelled by the rapid growth in oil and gas revenues over recent years,” the report said.

Qatar’s competitive advantage will be helped by the decline in investment from German funds, which were among the major global investors in 2009, the report said.

Qatar, the world’s largest exporter of liquefied natural gas, was one of the fastest growing economies worldwide in 2009.

Its economy grew at an average pace of 17.4 percent over the past five years and it is set to largely outperform fellow Gulf oil producers such as Saudi Arabia and the United Arab Emirates in coming years.

A Reuters poll in April showed that Qatar’s economy was likely to expand by 16.1 percent this year. (Reporting by Regan E. Doherty; Editing by Dinesh Nair)

Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,

Masdar Unveils Largest Concentrated Solar Power Project, an Industrial Info News Alert

June 12, 2010 By Leave a Comment

GALWAY, IRELAND, Jun 11 (MARKET WIRE) —
Written by Martin Lynch, European News Editor for Industrial Info
(Galway, Ireland) — The world’s largest concentrated solar plant (CSP)
and the first for the Middle East was unveiled by Abu Dhabi Future Energy
Company (Masdar) (Abu Dhabi, United Arab Emirates) and the company’s
partners at this week’s Power-Gen Europe 2010 Show in Amsterdam.

Other companies featured: Total S.A. (NYSE:TOT)

For details, view the entire article by subscribing to Industrial Info’s
Premium Industry News at
http://www.industrialinfo.eu/showNews.jsp?newsitemID=161635, or browse
other breaking industrial news stories at www.industrialinfo.eu.

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Filed Under: International News Tagged With: , , , , , , , , , , , , , , , , , , ,
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