DOHA: Gulf International Services (GIS) has entered into discussions with the foreign partner in its joint venture, Gulf Drilling International, to acquire its 30 percent stake in GDI to make GDI a wholly-owned subsidiary of Gulf International Services.
Gulf International Services has interests in a broad cross-section of industries, ranging from insurance, re-insurance, fund management, onshore and offshore drilling, accommodation barge, helicopter transportation, and catering services. GIS has issued a brief statement to Qatar Exchange confirming the development.
Japanese auto makers to boost domestic output
TOKYO: Japanese auto makers will ramp up production early next year because they expect a big increase in car purchases before a sales tax hike in April, media reported yesterday.
Toyota Motor Corp will increase domestic output in January-March by about 10 percent compared with this month, the Nikkei business daily reported.
Toyota has already told its parts suppliers that daily output in January-March will total around 14,000 vehicles, the Nikkei said without citing the source of its information.
For December the automaker had planned to produce about 12,500 cars per day, the newspaper said.
In January, Honda Motor Co will operate two of its domestic plants two days longer than originally scheduled to meet demand for one of its smaller models, the Nikkei said. Mitsubishi Motors Corp and Suzuki Motor Corp will also keep domestic production lines running three days longer than originally planned in January to meet demand for newly introduced sub-compact models.
The Peninsula/Reuters
