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Abu Dhabi / WAM In acknowledgement of its management improvement initiatives and efforts to strengthen a culture of innovation, the UAE Ministry of Economy has got the international certification of TS 16555-1 for Innovation System Management from Britain’s LIoyd’s Register. The certification, a global testament to the Ministry of Economy’s endeavors to improve performance and reduce risks, providing credibility for …

Dubai / WAM The Ministry of Health and Prevention, has signed an agreement with Roche Pharmaceutical Company, to strengthen the UAE’s strategic drug stockpile, by adding 76 categories of drugs to aid in severe cases and emergency situations. The agreement was signed by Dr. Abdul Karim Abdullah Al Zarouni, Director of Emergency, Crisis and Disaster Operations Center at the Ministry, …

Sharjah / WAM Consumer protection complaints occupied the maximum share with 837 among the total 1,056 complaints resolved by the Sharjah Economic Development Department (SEDD), during the first quarter (Q1), of the current year. Sultan Abdullah bin Hadda Al Suwaidi, Chairman of SEDD, said that the Department took all the necessary action to deal with consumer complaints. It has even …

DUBAI / Reuters Saudi Aramco said on Wednesday it had signed a joint venture agreement with three firms to build a shipyard on the kingdom’s east coast, part of the government’s drive to diversify the economy beyond oil. A shareholder agreement was signed with National Shipping Co of Saudi Arabia (Bahri), a state-controlled firm which ships oil for Aramco, as …

Bloomberg It will be a public trial by fire for new Exxon Mobil Corp. CEO Darren Woods. Presiding over his first annual meeting since predecessor Rex Tillerson left to become US secretary of state, Woods will be tested on Wednesday on everything from climate change to his own paycheck. Analysts and investors will be watching to see if he proves …

Bloomberg India’s introduction of a single nationwide goods and services tax may have an unexpected consequence: prompting more companies to sell shares to the public. That’s the view of Ashishkumar Chauhan, chief executive officer of BSE Ltd., the operator of the Bombay Stock Exchange. He says smaller firms that become tax-compliant due to the levy, scheduled for implementation on July …

Bloomberg China’s official manufacturing gauge held up in May, buoyed by an improving global outlook. Manufacturing purchasing managers index remained at 51.2 for a second straight month in May, compared with a median estimate of 51 in a Bloomberg survey of economists. Non-manufacturing PMI rose to 54.5 Numbers higher than 50 indicate improving conditions. While some early indicators for May …

Bloomberg Three former Nomura Holdings Inc. mortgage-bond traders accused of cheating their customers called no witnesses in their defense against fraud charges, betting that prosecutors’ evidence is too weak to convict them. Lawyers for the three traders — Ross Shapiro, Michael Gramins, and Tyler Peters — have said they will tell jurors that the prosecution failed to prove its case …

Bloomberg Japan’s industrial output rebounded in April, hitting the highest level since 2008, as overseas demand continued to support the nation’s economic recovery. Industrial production increased 4.0 percent (forecast +4.2 percent) in April from March, when it fell 1.9 percent. Industrial production index rose to 103.8 in April, the highest level since October 2008. Output is forecast to fall 2.5 …

Bloomberg Levandowski joined the ride-hailing startup in 2016 after several years at Google’s autonomous driving project, which is now called Waymo. In February, Waymo sued Uber alleging that Levandowski stole trade secrets and patents from Waymo for the development of self-driving technology and brought them to Uber. Levandowski has invoked his Fifth Amendment right not to testify in the case, …