Your air-conditioner unit is now less likely to bite the dust after UAE authorities cracked a counterfeit refrigerants ring in Sharjah.
Sunrise Airconditioning Spare Parts, a refrigerant trader, has been fined and forced out of business after DuPont, the American chemical company, and the Dubai Department of Economic Development confiscated a host of products used in air-conditioner units.
"We are approaching the problem of counterfeit refrigerants very aggressively," said Greg Rubin, the global business manager at DuPont Refrigerants. "Counterfeit refrigerants can cause significant business impact including equipment failure and more importantly can cause physical harm or loss of life."
In total, 3,100 units of counterfeit DuPont Suva refrigerants and 6,000 units of fake products from another manufacturer were seized.
Sunrise was also required to make additional payments to cover costs related to storage of the seized goods, painting and repackaging the cylinders and exporting them as unbranded refrigerant out the country.
The sale of counterfeit products is widespread in the Emirates across a range of industries, including industrial and automotive parts, consumer goods and fashion.
Research commissioned by HP Middle East in 2010 showed nearly half of managers with purchasing responsibility for their offices had bought counterfeit products.
Meanwhile, Al-Futtaim Motors Toyota, the market leader, said last year that it estimated that a quarter of automotive spare parts in the UAE market were counterfeit.
In what the Department of Economic Development described as the "biggest crackdown to date" on counterfeiting, electronic appliances worth Dh4 million (US$1.08m) were confiscated in August from a warehouse in Dubai's Al Aweer area.
The warehouse was monitored and raided by officials from the department's Commercial Compliance and Consumer Protection division. It had stored over 20,600 duplicates of electronics brands such as LG, Panasonic, Sony, Sharp and Hitachi.
"We will continue our global effort to combat counterfeit refrigerants by working diligently with law enforcement in all regions," added Mr Rubin.
rjones@thenational.ae
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5
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Newcastle United 0 Tottenham Hotspur 2
Tottenham (Alli 61'), Davies (70')
Red card Jonjo Shelvey (Newcastle)
The biog
Name: Atheja Ali Busaibah
Date of birth: 15 November, 1951
Favourite books: Ihsan Abdel Quddous books, such as “The Sun will Never Set”
Hobbies: Reading and writing poetry
Sukuk explained
Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
ASHES FIXTURES
1st Test: Brisbane, Nov 23-27
2nd Test: Adelaide, Dec 2-6
3rd Test: Perth, Dec 14-18
4th Test: Melbourne, Dec 26-30
5th Test: Sydney, Jan 4-8
The biog
Name: Timothy Husband
Nationality: New Zealand
Education: Degree in zoology at The University of Sydney
Favourite book: Lemurs of Madagascar by Russell A Mittermeier
Favourite music: Billy Joel
Weekends and holidays: Talking about animals or visiting his farm in Australia
The specs
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Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
On sale: now