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Bloomberg South Korea’s antitrust watchdog proposed new rules for family-run conglomerates to make it harder for such businesses to muscle through their agendas at the expense of minority shareholders. The proposed amendments to existing regulations would require a newly created holding company to own at least 30 percent in an entity it wants to treat as a listed subsidiary and ...

Bloomberg Nestle SA’s unit in Japan expects a fledgling business selling nutritional drinks and supplements to aging consumers to grow into a nearly $1 billion business within a decade as the food giant becomes the latest to employ genetics to market food. The world’s biggest food company has seen increasing demand for a Japanese subscription program for nutrition that can ...

SHARJAH / WAM Sharjah Airport received the first delegation of pilgrims returning to the United Arab Emirates after performing Hajj. They arrived on flights from Jeddah, Medina and Taif in Saudi Arabia. The airport expects a continuous flow of pilgrims from both scheduled and non-scheduled flights to Sharjah during this period. Sharjah Airport Authority (SAA) has taken all possible measures ...

ABU DHABI / WAM The Sheikha Fatima Global Humanitarian Campaign has succeeded in attracting young doctors and enabling them to alleviate the suffering of Rohingya refugees by providing the best diagnostic, therapeutic and preventive services to children and women. A group of Emirati and Bangladeshi doctors are participating in the campaign, which is being held in Cox’s Bazar in Bangladesh, ...

ABU DHABI / WAM On Tuesday, August 28, the UAE will celebrate ‘Emirati Women’s Day’, which will be held this year under the theme, ‘Women on the Course of Zayed’, and coincide with the ‘Centennial of Zayed’ and the announcement of President His Highness Sheikh Khalifa bin Zayed Al Nahyan declaring 2018 as the Year of Zayed. The country’s leadership ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has initiated a collaboration with the British Standards Institute (BSI) to set the world’s first Publicly Available Specification (PAS) standard that would document best utility risk management practices for the electricity and water sector. This move comes as part of Dewa’s efforts to consolidate its global positioning and achieve its vision ...

Bloomberg Donald Trump’s surprise about-face on his top diplomat’s trip to North Korea—just a day after it was announced—reinforced a sense of drift in the administration’s strategy since the president proclaimed a June summit with Kim Jong-un an historic success. The tweets cancelling a visit to Pyongyang by Secretary of State Michael Pompeo cited a lack of “sufficient progress” in ...

Bloomberg From Mercedes-Benz AG to Unilever, companies in India are finding power to pass on higher costs to consumers, a sign that demand in the world’s fastest-growing major economy is well-entrenched. After the twin shocks of a cash ban in 2016 and the chaotic introduction of a consumption tax last year, India’s economic recovery is gaining momentum. Businesses are taking ...

Bloomberg Walmart Inc. has asked its cosmetics suppliers to consider sourcing their goods in countries outside of China, one of the first signs that the world’s largest retailer hopes to dilute the impact of the Trump administration’s looming tariffs. A “large amount” of items in the cosmetics category fall under the most-recent proposed levies on Chinese goods, according to an ...

Bloomberg Elon Musk scrapped his plan to take Tesla Inc. private, a remarkable reversal more than two weeks after blindsiding employees and investors with the idea in a bombshell tweet. In a blog post, Tesla’s chairman, CEO and largest shareholder said he had met with the board and “let them know that I believe the better path is for Tesla ...