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ABU DHABI / WAM According to numerous studies conducted by official authorities, such as the Federal Competitiveness and Statistics Authority, the percentage of digital banking users in the UAE rose to 90 percent while the percentage of ATM users reached 100 percent, reflecting the growing automation of the country’s banking sector. The same studies also show that many UAE residents ...

DUBAI / WAM Dubai Parks and Resorts on Monday announced that it has attracted 641,000 visits in Q2 2019, up from 612,000 in 2018, representing a growth of five percent. In celebration of Philippines Independence Day, Dubai Parks and Resorts launched an exclusive bundle offer for Filipino residents in the UAE, providing access to all the parks, for non-stop entertainment ...

ABU DHABI / WAM In a report marking its 48th anniversary, Abu Dhabi Fund for Development (ADFD), the national entity for international development aid, has announced that it has allocated about AED92 billion in development funding and investments to 90 beneficiary countries. Since its inception on July 15, 1971, the fund has disbursed AED43 billion in concessionary loans, AED46 billion ...

DUBAI / WAM The Dubai Land Department (DLD) signed a cooperation agreement with Emirates Auction, the leading company in managing public and online auctions in the Middle East, to organise and manage selective real estate auctions under the remit of the DLD for individuals and institutions. The agreement provides for a strategic partnership to develop the real estate sector in ...

Bloomberg India was forced to put on hold its second mission to the moon after discovering a glitch at the last moment, a setback to its ambitious plan to become the first nation to land on the south pole of Earth’s closest neighbor. The mission, called Chandrayaan-2, which means “moon vehicle” in Sanskrit, was cancelled 56 minutes before its scheduled ...

Bloomberg Investors in Indian corporate debt are watching whether a stressed wind-turbine maker will repay its dollar-denominated convertible bonds due on Tuesday, and help avoid further widening of strains in the nation’s credit market. Suzlon Energy Ltd, which became India’s biggest convertible note defaulter when it missed payments in 2012, must repay $172 million outstanding on such securities that were ...

Bloomberg Netease Inc is planning an initial public offering in the US of its Youdao arm that could raise at least $300 million, people familiar with the matter said, propelling its expansion into a crowded online education arena. The company is working with Morgan Stanley and Citigroup Inc on the share sale with a goal to list as early as ...

Bloomberg South Korean President Moon Jae-in warned Japan that any effort to block his nation’s economic growth “will not succeed,” in the latest escalation of rhetoric between feuding neighbours. Moon told a cabinet meeting on Monday that he was aware that export restrictions imposed by Japan earlier this month targeted South Korea’s semiconductor industry and “the nation’s core competitiveness.” He ...

Bloomberg Chinese drugmakers jumped on Monday after a local news report that a centralised drug procurement plan that is hurting drugmakers’ profit will be expanded nationwide — but on milder terms than expected. The bulk buying programme for generic drugs, which had its pilot in 11 cities last December, will be rolled out across the country with gentler rules, according ...

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. ...