• The GCC Financial Forum 2019
Suzuki, Mazda and Yamaha admit false emissions data

Suzuki, Mazda and Yamaha admit false emissions data

Tokyo : Japan’s Suzuki Motor, Mazda and Yamaha have admitted using false emissions data for some vehicles, the transport ministry said yesterday, in the latest product quality scandal to hit the country’s auto sector. The companies came forward after the ministry last month ordered 23 auto and motorbike companies to conduct in-house probes after it emerged Nissan and Subaru had cheated on fuel economy and emissions data. All three reported “inappropriate handling” of vehicle inspections, the ministry said.

The companies admitted incomplete emissions tests were done on some of its vehicles, but their officials certified the results as though the tests had been administered fully. Suzuki admitted improper inspections on 6,401 vehicles, or nearly half of those subject to sample checking, between 2012 and 2018. Mazda said it 72 vehicles or 3.8 per cent of those in its sample were affected, while Yamaha put the figure at 2.1pc of its motorbike sample. 

“This is extremely regrettable as this may cause doubts among automobile users about vehicle performance and the quality-control structures of automakers,” Transport Minister Keiichi Ishii said in a statement. The ministry said it would “examine their reports and take strict measures if necessary”.  It said most of the 20 other companies asked to examine their data had reported no misconduct, while several others were still investigating. Investors dumped shares of the three firms after the news.




Palladium tops $1,500

Palladium tops $1,500

Precious metal palladium yesterday reached above $1,500 per ounce for the first time in trading thanks to supply deficit worries, according to analysts. Palladium hit $1,504.52 per ounce from $1,480.15 late on Tuesday. It later yesterd

ABG reports profit of US $129 million

ABG reports profit of US $129 million

Al Baraka Banking Group (ABG) reported increases in income, with a 4 per cent increase in net operating income, a 5pc rise in total net income, as net income attributable of shareholders remained unchanged compared to the year 2017. Th


Khloe breaks up with Tristan

Khloe breaks up with Tristan

American reality star Khloe Kardashian has called it quits with NBA player Tristan Thompson, just 10 months after the two welcomed their daughter. E! News confirmed recently that the couple has split up. This comes right around the sam

Palladium tops $1,500

Palladium tops $1,500

Precious metal palladium yesterday reached above $1,500 per ounce for the first time in trading thanks to supply deficit worries, according to analysts. Palladium hit $1,504.52 per ounce from $1,480.15 late on Tuesday. It later yesterd

ABG reports profit of US $129 million

ABG reports profit of US $129 million

Al Baraka Banking Group (ABG) reported increases in income, with a 4 per cent increase in net operating income, a 5pc rise in total net income, as net income attributable of shareholders remained unchanged compared to the year 2017. Th