Mubadala Investment Company, Abu Dhabi’s strategic investment arm, said comprehensive income surged almost 70 per cent in 2021, making it the "strongest financial year" in its 20-year history, driven by a sharp rise in investment returns and monitisation of assets.
Comprehensive income jumped to Dh122 billion ($33.2bn) in 2021 from Dh72bn a year earlier, the company said.
“Mubadala continues to invest in sectors that are changing the world and impacting global business. As markets rose and the economy began to recover from the pandemic, we looked for opportunities to take some of our strongest companies public and invest with world-class partners in high-growth sectors and geographies," Khaldoon Al Mubarak, Mubadala’s group chief executive and managing director, said.
"We are managing for value as well as staying focused on our long-term mandate to find commercial opportunities despite the current challenging and complex global economic outlook, with headwinds such as inflation, supply chain disruptions and tighter monetary policy," he said.
Assets under management climbed more than 16 per cent to Dh1.04 trillion at the end of 2021 from Dh894bn a year earlier.
Growth was supported through investment returns, monetisation of certain assets and new partnerships it struck last year.
The company listed its wholly-owned semiconductor manufacturing unit, GlobalFoundries, in a $2.6bn initial public offering on the Nasdaq that valued the New York-based chipmaker at nearly $26bn. It also listed Yahsat on the Abu Dhabi Securities Exchange in a deal that raised $731 million.
Mubadala invested Dh125bn during 2021 in key sectors in the UAE and abroad, it said.
In the UK, Mubadala invested Dh2.5bn in CityFibre, the country's largest independent fibre infrastructure platform. It also expanded an existing partnership with Bpifrance with €4bn ($4.22bn) to invest in developing French enterprises with proven growth potential, and high growth technology sectors in France.
The fund invested Dh1.3bn in Culligan, a leader in sustainable water solutions and Dh2.9bn in Marshall Wace Tops World Equity Fund, one of the largest alternative asset managers.
In the UAE, Mubadala Health, which has brought health care providers such as Imperial College of London and Cleveland Clinic to Abu Dhabi, launched as an integrated healthcare network for patients seeking specialised care.
Mubadala Capital, which began operations in 2011, also became a wholly-owned subsidiary with $13.7bn of assets under management, including the third-party capital it manages, Mubadala said.
At the end of the last year, 34 per cent of Mubadala’s portfolio comprised direct and indirect investments in private equity, with 31 per cent in public markets and 14 per cent in real estate and infrastructure, among others.
“Our consistent profit growth in 2021 reflects the relevance of Mubadala’s investment strategy to focus for the long-term on sectors, asset classes and geographies that are positively contributing to global progress," group chief financial officer Carlos Obeid said.
"As the global economy began to recover, we maximised opportunities to monetise our mature assets and invest further into growing sectors with tailwinds. Mubadala ended the year more diversified and resilient, and better prepared for the more uncertain macroeconomic environment ahead.”
Mubadala is at the heart of the government’s plans to diversify Abu Dhabi's revenue base and generate income from sources other than oil. The company’s portfolio of investments spans five continents with interests in aerospace, information and communications technology, semiconductors, metals and mining, renewable energy, oil and gas, and petrochemicals.
In the UAE, the company has stakes in Emirates Global Aluminium, green-energy company Masdar, aerospace manufacturing company Strata, satellite communications company Yahsat and Mubadala Petroleum, among others.
Last year, Abu Dhabi National Oil Company and Taqa became shareholders in Masdar with Mubadala to boost the clean energy company's renewable power capacity to more than 50 gigawatts by 2030.
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Global state-owned investor ranking by size
|
1.
|
United States
|
|
2.
|
China
|
|
3.
|
UAE
|
|
4.
|
Japan
|
|
5
|
Norway
|
|
6.
|
Canada
|
|
7.
|
Singapore
|
|
8.
|
Australia
|
|
9.
|
Saudi Arabia
|
|
10.
|
South Korea
|
WHAT IS GRAPHENE?
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Killing of Qassem Suleimani
More coverage from the Future Forum
More from Neighbourhood Watch:
What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
Zayed Sustainability Prize
Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
Kill%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nikhil%20Nagesh%20Bhat%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3C%2Fstrong%3E%3A%20Lakshya%2C%20Tanya%20Maniktala%2C%20Ashish%20Vidyarthi%2C%20Harsh%20Chhaya%2C%20Raghav%20Juyal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204.5%2F5%3Cbr%3E%3C%2Fp%3E%0A
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Five%20calorie-packed%20Ramadan%20drinks
%3Cp%3E%3Cstrong%3ERooh%20Afza%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20contains%20414%20calories%0D%3Cbr%3E%3Cstrong%3ETang%20orange%20drink%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20serving%20contains%20300%20calories%0D%3Cbr%3E%3Cstrong%3ECarob%20beverage%20mix%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20serving%20contains%20about%20300%20calories%0D%3Cbr%3E%3Cstrong%3EQamar%20Al%20Din%20apricot%20drink%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20saving%20contains%2061%20calories%0D%3Cbr%3E%3Cstrong%3EVimto%20fruit%20squash%3C%2Fstrong%3E%0D%3Cbr%3E100ml%20serving%20contains%2030%20calories%3C%2Fp%3E%0A
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
THE SPECS
Engine: 2.0-litre 4-cylinder turbo
Power: 275hp at 6,600rpm
Torque: 353Nm from 1,450-4,700rpm
Transmission: 8-speed dual-clutch auto
Top speed: 250kph
Fuel consumption: 6.8L/100km
On sale: Now
Price: Dh146,999
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
The specs
Engine: 0.8-litre four cylinder
Power: 70bhp
Torque: 66Nm
Transmission: four-speed manual
Price: $1,075 new in 1967, now valued at $40,000
On sale: Models from 1966 to 1970
