The company’s new hinge can open to more than 90 degrees, allowing the drawer face to pull forward and open simultaneously without interfering with side-by-side cabinets.

While many of its items are indirectly exported via companies such as Boeing and Lockheed Martin, GSI sells directly to France’s Dassault and to manufac-turers of individual VIP jets. Mercury Sales, based in Irving, California, buys components from GSI and exports them to air carriers in the Asia-Pacific region, including Malaysia Air.

While the majority of sales are standard products for commercial aircraft, GSI custom-designs a product line for private jets using a Catia design software, CNC machines to manufacture and a programming software to program the machines. “It’s all very so-phisticated,” said Gina Radke, President and CEO. “We have a complete R&D department that utilizes the latest testing equipment, including robotic arms, 3D printers and camera-guided technology.”

What makes this family-owned small business unique is that all its sales are sold directly to cus-tomers, from in-person meetings to trade shows. The company does not use distributors or manufac-turers/sales reps. It inspires and sells to company in-house designers and purchasing managers export-ing to Japan, Switzerland, Germany, France the UAE, Brazil and Canada. “We’ve had the greatest export success selling our commercial galley product line for VIP aircraft in Japan and Switzerland,” noted Ms. Radke.

Galley Support, continued on page 6

page 5March 2020

http://www.galleysupport.com/

Asia Today InternationalThailand is planning to spend US$43 billion over five years to embrace the new technologies inherent in Industry. The chosen area covers three provinces in its Eastern Corridor, to host 10 industry sectors, two major ports and three international airports, all inter-connected by high-speed rail and more.

Asahi ShimbunFactories in China face a threat from the US anti-dis-ease controls which might disrupt the flow of micro-chips and other components.

In Japan, fruit and vegetable scare over labor shortage due to coronavirus.

President Moon of South Korea pledges emergency funding for coronavirus-hit small businesses.

* Japan considers 30 trillion Yen stimulus to fight coro- navirus outbreak. (1 US Dollar = 110.75 Yen - 3/22)* Japan has no quarantine and no enforced clo- sures. Even bars, restaurants and subways are open. They are only testing people with symptoms or have had direct contact with people that are positive.

It has shut down entertainment venues, sporting events, closed some schools and shutdown others.

Sydney Morning HeraldQantas to ground international flights and layoff 2/3 of staff.

Banks target small businesses for extra help.

Major Australian industry investment funds are backing companies using fracking.

The Korea TimesSouth Korea and US sign $60 billion currency swap deal in order to relieve liquidity crunch caused by coronavi-rus.

Hyundai Motor signed contract to supply its 27 seat New Super Aero City buses to Turkmenistan.

* South Korea to unveil 27 trillion WON market stabili- zation (1 US Dollar = 1,254 Korean Won - 3/22/20)* South Korean coronavirus cases going down daily.* South Korea begins testing all people flying from Europe.

Buenos Aires TimesArgentina to build 8 emergency hospitals to help fight coronavirus.Venezuela requests $US 5 billion from IMF to fight coronavirus.

* The head of the IMF states that Argentina will need “substantial debt relief.”* The Argentine government is introducing measures “to protect production, employment and supply.”* Argentina has a nationwide lockdown for the corona- virus.

Santiago TimesVenezuela opens borders with Aruba and Brazil. Co-lombia remains closed.

Straits TimesThe Monetary Authority of Singapore announced a $US 60 million swap deal with US Federal Reserve.

Some of the richest people including Carl Icahn, Warren Buffett and heirs of Tetra Laval fortune spent $US 1 billion to boost their stakes in companies as markets tumbled. These include:Icahn - Hertz Global Holdings and Newell BrandsBuffett - Delta air LinesTetral Laval heirs - International Flavors and Fragrances

ReutersFerrari and Fiat look at helping Italy build ventilators in coronavirus crisis.

Gulf NewsSaudi Arabia eyes 10m barrels/day as exports Aramco’s net income drops to $88.2B because of decrease in oil prices.

* Emirates suspend most passenger operations.* Germany asks carmakers to produce medical gear.* Australia announces $40B for coronavirus relief.

Express News from Around the World

IBNewsmagTM

March 2020page 8

Brief History• 1971- Abu Dhabi, Ajman, Al Fujayrah, Ash Sharigah, Dubai and Umm al Qaywayn merged to form the United Arab Emirates (UAE).• 1972- Ra`s al Khaymah joined.• 2010-2011- Introduced $1.6 billion infrastruc- ture investment plan for poorer emirates and pursued political reform.

Note: An emirate is defined as a political territory that is ruled by a dynastic Arabic or Islamic monarch-styled emir. The term may also refer to a kingdom.

• Size: Slightly larger than South Carolina• Population Distribution: Population is heavily concentrated on the northeast on the Musan dam Peninsula. The three largest emirates- Abu Dhabi, Dubai and Sharjah.• Population: 10 M (July,2020 etc.)• Population Growth Rate: 1.49% (2020 est.)• Literacy Rate: 93.8%• Capital City: Abu Dhabi

EconomyUAE has an open economy with large per capita income and sizable trade surplus. Even though it has a large oil and gas sector, it has a very diverse economy. (Oil and gas accounts for only 30% of its GDP.)

The UAE standard of living is very high. Its foreign trade zones are helping attract foreign investment. It is the second largest economy in the Middle East after Saudi Arabia. It has a modern infrastructure and up to date technology.

• GDP: $696B (2017 est.)• GDP Growth Rate: 0.8% (2017 est.)• Unemployment Rate: 1.6% (2016 est.)• Exchange Rate: 1 US Dollar = 3.67 AED Emirati Dirham - 3/14/20 11:10 AM • Labor Force: 5.344 M (2017 est.) Labor Force Makeup – Agriculture - 7%, Industry -15%, Ser- vices - 78% (2000)

Major IndustriesPetroleum and petrochemicals, fishing, aluminum, cement, fertilizer, commercial ship repair, construc-tion materials, handicrafts, textiles, agriculture (dates, vegetables, watermelon, poultry, eggs, dairy products, fish).

International TradeTotal Exports: $308.5B (2017 est.)

• Major Exports: Mineral fuels, including oil - 29.2%, gems, precious metals - 14.5%, electron-

ic equipment - 9.6%, machinery - 5.6%, vehicles - 4.1% (2018 est.)• Major Export Partners: Iran - 7.2%, Saudi Arabia - 6.94%, India - 6.88%, Iraq - 5.8%, Oman - 3.6%, US - 3.55, Turkey - 2.7%, Hong Kong - 2.5% (2018 est.)

Total Imports: $229.2B (2017 est.)• Major Imports: Gems, precious metals - 20.7%, electronic equipment - 13.1%, machinery - 10.9%, vehicles - 7.8%, mineral fuels, including oil - 5.9% (2018 est.)• Major Import Partners: China - 17.9%, US - 8.65, India - 7.5%, Japan - 5.2%, Germany - 4.4%, Vietnam - 3.6%, South Korea - 3%, Turkey - 2.8% (2018 est.)

Sampling of English Language News Sites• Al Arabiya.net - general news - https://english.alarabiya.net • Khaleej Times - general news - www.khaleejtimes.com • Gulf News - general news - www.gulfnews.com • Arabian Business - business news - www.arabianbusiness..com • AME info - general news - www.ameinfo.com• Emirates 24/7 - general news - www.emirates247.com

Sampling of UAE Companies• Abu Dhabi National Energy Company - explora- tion & production - oil and gas - www.taqaglobal.com - Abu Dhabi• Al Dahra Agricultural Company - animal feed, farming, food production - www.aldahra.com - Abu Dhabi• Al Tayer Group - conglomerate - sales, distribu- tion, engineering, real estate etc. - www.altayer.com - Dubai• Alpha Data - software, system integration - www.alpha.ae - Abu Dhabi/Dubai• Armada Group - large conglomerate in many business areas - www.armadaholding.com - Dubai• Dana Gas - oil & gas exploration & production - www.danagas.com - Sharjah• Easa Saleh Al Gurg Group LLC- heavy construc- tion - www.algurg.com - Dubai• Emirates Global Aluminum – aluminum - www.ega.ae - Abu Dhabi• Information Systems Associates FZE - aviation software - www.accelaero.com - Sharjah• Julphar – pharmaceuticals - www.julphar.net - Ras Al Khaimah

March 2020page 10