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DUBAI / WAM Dubai Airports (DXB) and Etihad Energy Services Company (Etihad ESCO) have announced the successful installation of a solar energy system comprising 15,000 photovoltaic panels at Dubai International’s Terminal 2 – the largest at any airport in the region. With a capacity of 5MWp, the solar project will generate 7,483,500 kWh energy annually for Dubai Airports, resulting in ...

Bloomberg Abu Dhabi’s top sovereign wealth fund is hiring as it boosts active management of its estimated $697 billion portfolio. Abu Dhabi Investment Authority (Adia) plans to “add a number of new positions, mostly within investment and research-focussed roles” in its fixed income and treasury department this year, according to its annual report. The fund almost matched the performance of ...

DUBAI / Emirates Business The first half of 2019 saw the number of authorised tax agents increase by more than 110 percent to exceed 370 Agents, up from 176 by the end of 2018, asserted the Federal Tax Authority (FTA) as it hosted the second meeting of tax agents. The authority noted that the growth in the number of authorised ...

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 ...