Mubadala posts record $19.5bn comprehensive income for 2020
ABU DHABI, 8 hours, 27 minutes ago Abu Dhabi-based Mubadala Investment Company said it achieved in 2020 a total comprehensive income (TCI) attributable to the owner of AED72 billion ($19.5 billion) for 2020, compared to AED53 billion ($14.4 billion) the previous year. Announcing the 2020 results, Mubadala said it was the largest TCI in the company’s history, mainly driven by significant growth in Mubadala’s public equities portfolio and funds, and its assets across various sectors. The performance was also attributable to Mubadala’s multi-year strategy to increase investments in sectors with growth ‘tailwinds,’ such as technology, life sciences, and consumer goods, through direct investments and partnerships with leading fund managers.
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Mubadala Floats Idea of Listing GlobalFoundries
Posted on 04/09/2021
As the world faces a global chip shortage, Abu Dhabi-based Mubadala Investment Company is looking to provide some more liquidity in its portfolio. Mubadala began preparations for a U.S. initial public offering of chipmaker GlobalFoundries Inc. GlobalFoundries is one of the largest contract chip manufacturers. The COVID-19 pandemic fueled a global semiconductor shortage.
GlobalFoundries is running to install equipment to increase capacity in Saratoga County. There is surging demand for computer chips for vehicles, laptops, and smartphones. In 2020, GlobalFoundries was using about 60% of manufacturing space in Malta versus using between 70% and 75% of its factory in recent months.
The Abu Dhabi and Dubai jointly-owned company said EBITDA increased to 4.1 billion dirham ($1.13 billion), while revenue fell 9% to 18.7 billion which it said was due to lower prices and a drop in demand for "value added products."
Top UAE officials assess renewables, peak oil, and the post-COVID energy market New Atlanticist by Larry Luxner
Courtesy of the Abu Dhabi National Oil Company
In March 2016, then-US Vice President Joe Biden visited Masdar City, a $20 billion planned metropolis rising southeast of Abu Dhabi that relies on solar energy and is designed to be a hub for clean-technology companies in the United Arab Emirates (UAE).
Nearly five years later, as Biden prepares to assume the presidency of the United States, his host for that visit, Dr. Sultan Al Jaber, expects the incoming US leader to embrace the urgent work of developing sustainable energy sources.