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Ant Financial Services Group has decided to upgrade its database business line into a standalone company, as it anticipates a major upgrade of the service.

Another natural outcome of the restrictions on collaboration with China is that the Chinese will turn to Europe, as export controls have had a similar effect, warned Bienenstock.

Anwar Abu Sbaitan, senior executive officer of Kuwait-based asset management firm Kamco, said the UAE and Saudi Arabia represent 75 percent of the GDP of the GCC countries, hence foreign banks have to have a presence here to bank on the region's prospects.

Any attempt to distort history and whitewash the Nazis, militarists and their accomplices must be firmly rejected, he said, adding that the feats of the liberators must never be forgotten or the outcome of World War II denied.

Apart from the AIIB, other multilateral financial institutions have also offered support to China amid the coronavirus outbreak in their own ways.