Arabian Business – May 06, 2018

8 Vol. 19/18, May 2018

ENOC

Diego

Maradona

Named as offi cial energy

partner of Expo 2020

before unveiling plans to

build a high-tech “service

centre of the future” at

the six-month event.

The Argentine football

legend resigned as coach

of Fujairah FC after

the team failed to win

promotion to the top fl ight

of the UAE Pro League.

Upfront

WEEK IN NUMBERS

Mubadala enjoyed positive results in 2017

Mergers

In February of 2017,

the company merged with

another Abu-Dhabi-based

sovereign wealth fund, the

International Petroleum

Investment Company (IPIC)

• a fund that was established
  in the early 1980s to focus on
  the global energy market.
  The new entity had $125bn in
  total assets, with increased
  exposure to downstream
  petrochemical industries


• helping to boost Mubadala’s
  revenues to $45.1bn.

Diversifi cation

With the acquisition

of IPIC, Mubadala Investment

Company has restructured

the organisation to focus on

four key pillars: petroleum

and petrochemicals;

alternative investments and

infrastructure; technology,

manufacturing and mining,

and aerospace. “All four

global platforms contributed

to our strong fi nancial and

operational results,” said

group CEO, Khaldoon Khalifa

Al Mubarak.

Divestment

Mubadala’s total

comprehensive income

doubled to AED10.3bn

($2.8bn) in 2017, which was

fuelled in no small part by

a series of divestments of

“mature assets” as well as the

increase in value of fi nancial

holdings. During the last

reporting period, Mubadala

sold a 40 percent stake in

district-cooling business

Tabreed for AED2.8bn as well

as shares in chipmaker AMD

for AED4.18bn.

GOOD WEEK

BAD WEEK

The top news and business

headlines from the region

MAY 06–12, 2018

THREE REASONS WHY

u Mubadala's strategic investments are helping to stimulate the UAE’s economic growth

$911.4m

$283m

RETAIL

DEFENCE

Emaar Malls’ revenue for

the fi rst quarter of 2018

The value of weapons sale to Bahrain

approved by the US State Department

The investment fi rm’s annual profi ts rose by 11.5 percent

Overall fi ndings of schools in Dubai Source: Edarabia, Bayut.com, KHDA