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Bloomberg Gilead Sciences Inc agreed to pay $5.1 billion to raise its stake in Belgian biotechnology company Galapagos NV to deepen its research into inflammatory diseases and other disorders. The deal is the largest Gilead has executed since new Chief Executive Officer Dan O’Day took the reins in March as he attempts to bolster the San Francisco giant’s drug pipeline. ...

Bloomberg Finding a letter from the Church of England in his e-mail inbox was surprising enough for Vladimir Zaluzhsky, who’s in charge of investor relations at Russia’s second most valuable steelmaker. Even stranger was the demand to know what risks Severstal PJSC’s operations pose to the environment. The church’s pension board wanted details on how Severstal disposes of waste at ...

Bloomberg A UK parliamentary committee called on the government to publish a delayed review into the role of Huawei Technologies Ltd by the end of August, saying there could be reasons to ban the Chinese company from Britain’s phone networks. The Science and Technology Committee decided there was no technical reason to ban Huawei entirely from the UK’s infrastructure, but ...

Bloomberg President Donald Trump was accused of being racist and divisive by many Democrats after suggesting that four female Democratic lawmakers, led by Alexandria Ocasio-Cortez of New York, should return to the “broken and crime infested places from which they came.” Three of the four women Trump was apparently referencing were born in the US; none is white. The comments ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) reports that the number of new companies joining SCCI this year reached 2,720, 14 percent higher than this period last year. The chamber also revealed that renewing memberships recorded a growth of two percent, compared to 2018, while the total number of new and renewed memberships is 32,870, marking ...

DUBAI / WAM Smart Dubai has launched “Data First, The City’s Data Challenge”, a six-month-long challenge that brings together Smart Dubai’s government and semi-government data partners to underline the importance of collaborative efforts in data management, collection and insight generation. The challenge will recognise the three entities that have made the most significant progress in accordance with five key criteria: ...

DUBAI / WAM Dubai is currently building an advanced transport system through several vital projects that will serve the expected 25 million visitors of Expo 2020 Dubai, which will take place under the slogan, “Connecting Minds, Creating the Future.” In a statement to the Emirates News Agency (WAM), Ahmed Al Khateeb, CEO of Real Estate Development at Expo 2020 Dubai, ...

ABU DHABI / WAM The Sheikh Zayed Grand Mosque, a symbol of Islam that embodies the message of peace, tolerance and diversity, welcomed 4,480,000 visitors from 249 nationalities in the first half the Year of Tolerance, according to the half-yearly statistics released by the Sheikh Zayed Grand Mosque Centre (SZGMC). According to the statistics, there were 967,150 worshippers among the ...

Bloomberg Huawei Technologies Co is planning to cut jobs at its US subsidiary as the Chinese technology giant continues to struggle with its American blacklisting, the Wall Street Journal reported, citing unidentified people familiar with the situation. The cuts are expected to affect employees at Futurewei Technologies Inc, a research-and-development subsidiary that employs about 850 people in states including Texas, ...

Bloomberg China is grappling with a slowdown that will see output growth slide to the weakest pace in almost three decades this year, as factors far beyond the trade war with the US weigh on the world’s second-largest economy. Gross domestic product is forecast to grow at 6.2 percent in the second quarter, the slowest in a three-month period since ...