WEDNESDAY, NOVEMBER 5, 2014 BUSINESS The new Mercedes-Benz ML 400 now available Driving Dynamics and Increased Efficiency KUWAIT: Abdul Rahman Albisher & Zaid Alkazemi Co, the authorized General Distributor of MercedesBenz in Kuwait has announced the arrival of the new ML 400 to Kuwait. The new generation of the Mercedes-Benz M-Class maintains its strong off-road vehicle heritage while continuing to fascinate and excite through its unique combination of driving enjoyment and agility with superior ride comfort. The new BlueDIRECT V-shape six-cylinder bi-turbo petrol engine delivers a highly convincing performance, generating maximum output at 333 horsepower and allowing the premium SUV to accelerate from 0-100 km/h in 6.1 seconds with a top speed of 247km/h and an increase of maximum torque by 29.7% to 480 Nm. The compact low weight design partially made from light-weight materials, features state of the art engineering which underpins outstand- ing fuel economy and a number of comprehensive energy efficient measures. Further strengthening the new ML 400 4MATIC’s feature portfolio is a highly responsive suspension system and shock absorbers ensuring driving stability, safety and enhancement of the occupant’s wellbeing. With electric steering for dynamic on-road handling and extensive off-road capability features as standard, the all-wheel drive SUV has options for all modes of driving and driving situations. Michael Ruehle, CEO Abdul Rahman Albisher & Zaid Alkazemi Company said: “We are pleased to announce the availability of the ML 400 with the new V6 engine in Kuwait. With increased power and performance, we are certain Mercedes-Benz customers will be impressed by the new addition to the already popular M-Class.” High level of comfort The new ML 400 offers a high level of comfort, dynamic on-road handling and outstanding off-road capabilities. The M-Class chassis with steel suspension features selective damping, while electric steering assists the driver to ensure the optimum level of assistance for the current driving situation In addition to this, the SUV continues to impresses with the smallest turning circle in its market segment. The optional ON & OFFROAD package for the new M-Class has six driving modes for optimized driving dynamics and handling safety, for an extremely wide range of onroad and off-road operating conditions. The six transmission modes in detail:Automatic - covers most everyday driving operations; Offroad 1 - light terrain, dirt roads and tracks; Offroad 2 - challenging off-road terrain with hilly stretches; Winter - for driving in wintry conditions on slippery roads, on snow, ice or with snow chains; Sport more adventurous, dynamic driving on winding roads; Trailer - optimizes moving off, maneuvering and braking with a trailer. Despite so many options, for the driver the decision is always very clear: the setting is made intuitively, and the program selected is shown in the multifunction display as well as in very realistic, almost photo-quality imagery on the screen of the COMAND system. Impressive credentials The new generation is instantly recognizable as an M-Class by its characteristic body design with the hallmark C-pillar shape. Like other M class models, the ML 400 combines high levels of design, appeal and ease of use to create a powerful presence. The front of the vehicle is dominated by the powerfully self-confident design of the radiator grille with its centrally positioned Mercedes star, giving it that typical M-Class look. Seen from the side, the elongated lines give formal emphasis to the on-road cre- KIPCO announces 26% rise in profit KUWAIT: KIPCO - the Kuwait Projects lion ($424 million) for the first nine Company - has announced a net profit of months of 2014, an increase of 27 per KD10.1 million ($ 35.1 million), or 7.36fils cent from KD96.6 million ($342 million) (US 2.6 cents) per share, for the three reported for the same period in 2013. Tariq AbdulSalam, months ended KIPCO’s Chief Executive September 30, 2014, an Officer - Investments, increase of 26 per cent said that the company is on the KD8 million on track to achieve dou($28.3 million) profit, or ble digit growth in 5.56 fils (US 2.0 cents) 2014. Indicators point per share, achieved durtowards healthy pering the same period of formance as anticipated 2013. KIPCO’s net profit earlier in the year: “As during the first nine we forecast during our months of 2014 came to Shafafiyah Investors’ KD31.82million Forum in March, our ($110.5million), or 22.63 third quarter results fils(US 7.9 cents) per Tariq Abdulsalam have maintained growth share, an increase of 22 per cent on the KD26.1 million ($92.3 mil- patterns in double digits across core lion) profit, or 18.22fils (US 6.4 cents) per businesses in 2014. Revenue from our share, reported for the same period last financial services and media segments have increased by 25% and 35% year. The company’s total revenue for the respectively over the last nine months, first nine months of 2014 increased by while revenue from real estate opera19 per cent to KD438.3 million ($1.5 bil- tions rose by 17% for the same period. lion) compared to KD369.5 million ($1.3 These results reflect the strength of our billion) reported for the first nine core companies. We believe this growth months of last year. Operating profit will continue throughout the remainder before provisions rose to KD122.2 mil- of the year.” dentials of this vehicle, whose compact proportions are defined by a large wheelbase and short overhangs. Interior with a firstclass ambience The interior design concept clearly combines an authentic SUV experience with a sense of wellbeing that is usually the reserve of top-class Mercedes-Benz saloons. While an expressive dome shape embodies the power of an SUV, the gently sloping contours of the dashboard in the front passenger area afford an outstanding sense of space, thereby highlighting the vehicle’s suitability for long journeys. The spacious, bright interior offers substantially more elbow room thus enhancing spaciousness. Eye-catching features on the dashboard include a large trim element that matches the trim used for the doors and therefore creates a harmonious wrap-around effect. As with other ML models, the seats in the new ML 400 have been designed to offer greater long-distance comfort and optimum lateral support. All of the key settings can be adjusted electrically. The M-Class comes with the Audio 20 CD system, which comprises a radio with twin-tuner, a color display with a 14.7 cm screen diagonal, an MP3/WMA/AAC-compatible CD player, a USB interface with CD Cover Art display (if saved on the storage medium), an AUX-IN socket in the centre armrest and a telephone keypad. The Bluetooth interface also allows hands-free telephony and Audio Streaming for the transfer of music. The COMAND Online multimedia system with a high-resolution 17.8 cm color dis- play once again provides internet access in the M-Class. As an option, COMAND Online is available with a 6-disc DVD-changer. Engines: Latest-generation The ML 400 4MATIC petrolengine model features the ground breaking technology of the new generation of engines from Mercedes-Benz. At the heart of the BlueDIRECT technology package lies the enhanced third-generation spray-guided direct petrol engine with piezo-electric injectors. In combination with multi-spark ignition, this technology offers further possibilities for fuel savings. The V6 engine in the ML 400 4MATIC utilises a stratified combustion process with a considerably extended characteristic map and fuel-efficient lean-burn technology (“homogeneous stratified mode”). As the name implies, HOS is a combination of homogeneous lean-burn and classic stratified combustion. The first injection is sprayed into the intake stroke, forming a homogeneous basic mixture. Actual “stratified” injection takes place during the compression stroke before ignition, and is a single or double injection depending on the characteristic map. In the ultra-modern 3 liter V6 engine, the V-angle between the cylinder banks has been reduced to 60 degrees, enabling the balancer shaft compensating primary vibrations to be omitted. As a result the driver notices an outstanding level of comfort. The design highlights of the 3 liter V6 include a completely new air intake and exhaust system in conjunction with a variable resonance intake manifold and optimized inflow and outflow. Result: with the same displacement, the output compared with the previous 225 kW (306 hp) model is increased by 8.9 percent to 245 kW (333 hp). In parallel with this substantial increase in power, Mercedes engineers have maintained an equally impressive reduction in fuel consumption. The new V6 petrol engine in the ML 400 4MATIC consumes as little as 8.81 liters per 100 kilometers, making it one the most economical petrol models in its class. Hyundai and Kia in ‘record settlement’ Carmakers to pay $350m for overstating mileage WASHINGTON: Korean carmakers Hyundai Motor Co and affiliate Kia Motors Corp will pay $350 million in penalties to the US government for overstating fuel economy ratings in what officials said on Monday was the biggest settlement of its kind. The deal comes on top of $395 million the automakers agreed to pay last December to resolve claims from the owners of the vehicles, bringing the companies’ total cost for the mileage overstatements to more than $700 million. Monday’s settlement with the US Environmental Protection Agency, the US Department of Justice and the California Air Resources Board resolves an investigation of the South Korean carmakers’ 2012 fuel economy ratings. The penalties were the largest ever under the Clean Air Act. “This will send an important message to automakers around the world that they must comply with the law,” said Attorney General Eric Holder. Under the accord, which involved the sale of 1.2 million cars and SUVs, the South Korean car firms will pay a $100 million penalty, spend around $50 million to prevent future violations and forfeit emissions credits estimated to be worth more than $200 million. The greenhouse gas emissions that the forfeited credits would have allowed are equal to the emissions from powering more than 433,000 homes for a year, the EPA said. “Businesses that play by the rules shouldn’t have to compete with those breaking the law,” said EPA Administrator Gina McCarthy. McCarthy said Hyundai and Kia had committed the most egregious violation of the reporting standards. She declined to say whether other violators may also be fined. “Every automaker will be looking carefully at its current testing procedure to avoid a similar penalty in the future,” said Karl Brauer, senior analyst at Kelley Blue Book’s KBB.com, who noted “frustration in the gray area between automakers’ stated MPG numbers and the realworld results experienced by car owners”. In November 2012, Hyundai and Kia conceded they overstated fuel economy by at least a mile per gallon on vehicles after the EPA found errors for 13 Hyundai and Kia models from the 2011 to 2013 model years. Hyundai said at the time that the affected cars’ reported fuel economy would be adjusted by 1 to 2 miles per gallon. Hyundai Motor shares fell as much as 4.4 percent in Seoul trading on Tuesday, extending a slide that has dragged them to their lowest in over four years. The decline knocked Hyundai from its perch as South Korea’s second-most valuable company after Samsung Electronics Co Ltd, according to exchange data on common shares, a spot it had held since March 29, 2011. Hyundai and Kia both increased their shares of the US new-vehicle market in the past decade, particularly during the economic downturn of 2008 to 2010 when consumers craved fuel-efficient and relatively low-priced vehicles. However, Hyundai has lost US market share in the past couple of years, as US and Japanese rivals made a comeback. Hyundai said on Monday that its US vehicle sales fell 7 percent in October from a year earlier, lagging the market’s 6 percent gain, with weaker sales of the Sonata sedan offsetting demand for its Santa Fe sport utility vehicles. Kia’s US shipments rose 12 percent in October. “We are pleased to put this behind us,” said Hyundai US chief David Zuchowski. The company added that it believes its process for testing vehicle fuel economy meets US guidelines, and the overstatement was a result of a data processing error. Hyundai’s US chief at the time, John Krafcik, stepped down after his contract expired at the end of 2013. Kia in a statement said its priority “remains making things right for our customers through our fair and transparent reimbursement program”.—Reuters Over 100 thinkers converge for summit on Global Agenda DUBAI: More than 100 thought leaders and experts from the UAE and Arab countries are set to converge in Dubai for the Summit on the Global Agenda 2014, which is being organized under the theme ‘UAE Brainstorms for a Better World’, from November 9 to 11, 2014. Hosted by the United Arab Emirates for the seventh consecutive year in collaboration with the World Economic Forum, the summit will provide a major platform for participants to focus on the most pressing global issues and recommend appropriate solutions, which will then be taken up at the annual meeting of the World Economic Forum in Davos in 2015. On this occasion, His Excellency Sultan Bin Saeed Al Mansouri, Minister of Economy and Co-Chair of the Summit on the Global Agenda, stated: “The active participation of elite Emirati and Arab thinkers and experts from academic, scientific and government fields, along with their international counterparts, raises hopes for effective recommendations that will help alleviate people’s sufferings and ensure a better life for every human being on the planet.” HE Al Mansouri added: “The UAE brainstorming initiative is a call to move forward to broader brainstorming efforts on the Arab and region- al level to find the best possible solutions for the challenges facing the Arab world. This will help achieve greatest level of satisfaction in Arab societies and contribute to their sustainable development.” The participants in this international event include a number of experts and innovators in the fields of renewable energy, climate change, competitiveness, multinational companies in emerging markets, energy security, institutional governance systems, social innovation, media and entertainment, infrastructure, intellectual property, and internet security. The ‘UAE Brainstorms for a Better World’ campaign has been launched within the framework of the country ’s relentless pursuit to contribute towards providing innovative solutions to global humanitarian challenges, in partnership with the Summit on the Global Agenda. The campaign provides a summary of the UAE experiences as part of the country’s efforts to contribute towards a better world. It includes innovative programs, especially pioneering initiatives such as the National Innovation Strategy launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, which aims Mohamed Nasser Al Ghanim Mona Al Marri Sultan Al Mansouri to make the UAE one of the most innovative countries in the world within the next seven years. The ‘UAE Brainstorms for a Better World’ campaign is based on four pillars: smart government, future of media, competitiveness, and innovation. The aim is to adopt innovation in providing practical and effective solutions that can complement international efforts to overcome hurdles in vital sectors and improve human life.