Bristol saved by EV firm
Bristol Cars has been saved from the brink of disappearing into oblivion by the Swiss company Kamkorp Autokraft, part of the Frazer-Nash Research group.
The link between Frazer-Nash and Bristol goes back to the founding of the company in 1946 as an offshoot of Bristol Aeroplane Company.
Bristol had to make 22 of the company's 27 members of staff redundant last month when the firm went into administration.
Frazer-Nash Research Limited is a Surrey-based research and development company specialising in hybrid and electric powertrains.
William Chia, the director of operations at Swiss company Kamport, told The Telegraph newspaper: "Bristol Cars is a British institution and an important part of our national motoring heritage. Over the next few months we will start to reveal the details of our plans to combine Bristol Cars' tradition and iconic marque with Frazer-Nash's pioneering technology to showcase our cutting-edge electric and range-extended powertrains."
Bristol is so exclusive that only 9,000 cars have been built in nearly 65 years.
Rolls records huge sales growth, limited edition car due in Dubai
AGMC, the Rolls-Royce dealer for Dubai, Sharjah and the Northern Emirates, has recorded a sales growth of 178 per cent in the first quarter of 2011, compared with the same period in 2010.
"Such strong results not only reiterate the continued passion our discerning Dubai clients have for Rolls-Royce cars but also confirms that the emirate remains at the forefront in terms of its appreciation for true luxury," said Mohammed El Arishy, brand manager of Rolls-Royce Motor Cars at AGMC.
"We are pleased with the robust results achieved in the first quarter and we look forward to maintaining this momentum throughout the remainder of the year," El Arishy added.
The achievement coincides with two unique Spirit of Ecstasy Centenary Collection Phantom models ariving in Dubai. This year is the centenary of the Spirit of Ecstasy figurine. Rolls-Royce is producing 100 Spirit of Ecstasy Centenary Collection Phantom Family models, and two of these exclusive cars will reach Dubai this year, with the first arriving next month.
The special edition Phantom is distinguished by a number of features, including unique paint colours, commemorative plaques, special instruments and a souvenir statuette of the "graceful little goddess" for every owner.
Bright sparks' new plug idea
Tomorrow a team of researchers from Japan will be presenting a laser that can be used to ignite the fuel/air mixture in a combustion chamber, and therefore a replacement for the spark plug.
The spark plug has not changed much in 150 years. The plug sends a spark across a gap between two metal electrodes; that spark ignites the compressed air/fuel mixture in the cylinder, causing a controlled mini-explosion that pushes the piston down.
The team from Japan's National Institutes of Natural Sciences (NINS) has developed a system that can focus two or three laser beams into an engine's cylinders at variable depths. That increases the completeness of combustion and also prevents the issue of degradation with time, as spark plugs only ignite the fuel mixture near the spark gap, which reduces the combustion efficiency, and the metal that makes them up is slowly eroded as they age.
"In the past, lasers that could meet those requirements were limited to basic research because they were big, inefficient, and unstable," Takunori Taira of the National Institutes of Natural Sciences in Okazaki, Japan, told the BBC.
So far the laser-ignition system has not been installed, but the scientists are in negotiations with a large spark plug manufacturer.
Kia expands Georgia output, with Optima to be third model
Kia has announced that it will expand its production at Kia Motors Manufacturing Georgia (KMMG) with the addition of the Optima.
The West Point, Georgia plant is scheduled to begin producing the 2012 model year Optima in the third quarter of 2011, and KMMG is currently accepting applications for a third wave of hiring to support the increased production. The total number of team members at KMMG is expected to reach nearly 3,000 later this year.
"The success of the West Point, Georgia plant and the high-quality Sorento CUV built there underscores the attention to detail and commitment to quality and craftsmanship exhibited by each KMMG team member and is the primary reason for Kia Motors' decision to add Optima to the plant's production line," said Byung Mo Ahn, group president and CEO, Kia Motors America (KMA) and KMMG.
Optima sales have almost doubled since its November debut, which helped the firm claim a 36 per cent sales increase on the year.
US dealers for Fiat behind schedule, but 500s selling fast
Forty of the planned 130 Fiat dealers in the US are now able to sell cars, Laura Soave, the head of Fiat in North America told attendees of the New York International Auto Show last week.
Soave, who was at the auto show to unveil the 500 Cabrio, admitted the dealership openings were behind schedule, but stated: "I would love them to be open at all of the same time. But the first impressions are unbelievably important to us so we want to make sure that we get them correct."
Still, Fiat sold 500 of its Fiat 500s in March, the month it began selling the microcar in North America.
"The longest any car has sat on the lot is 19 days, which is one of the fastest turning times," Soave added.
The Fiat 500 Cabrio, which goes on sale starting at $19,500 (Dh71,621), $4,000 more than the base model. The cloth-top roof comes in red, black and tan.
"The Fiat 500 Cabrio is the only four-seat cabrio in the market priced below $20,000," Soave said.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
UNSC Elections 2022-23
Seats open:
- Two for Africa Group
- One for Asia-Pacific Group (traditionally Arab state or Tunisia)
- One for Latin America and Caribbean Group
- One for Eastern Europe Group
Countries so far running:
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Killing of Qassem Suleimani
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
What is 'Soft Power'?
Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye.
He believed that there were alternative ways of cultivating support from other countries, instead of achieving goals using military strength.
Soft power is, at its root, the ability to convince other states to do what you want without force.
This is traditionally achieved by proving that you share morals and values.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Company%20profile
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
