The Supreme Council for Financial and Economic Affairs has issued a resolution to reconstitute the boards of Abu Dhabi wealth funds Mubadala Investment Company and the Abu Dhabi Investment Authority, Abu Dhabi Media Office said.
Mubadala, Abu Dhabi’s sovereign investment arm, will be chaired by Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court, the media office said in a statement on Thursday.
The other board members include Sheikh Theyab bin Mohamed, chairman of Crown Prince Court; Khaldoon Al Mubarak, who will serve as managing director; Suhail Al Mazrouei, Minister of Energy and Infrastructure; Dr Sultan Al Jaber, Minister of Industry and Advanced Technology; Abdulhamid Saeed; and Saif Saeed Ghobash.
Mubadala, which is at the centre of the UAE's efforts to diversify its economy, manages more than $284 billion in assets globally.
In recent years, it has stepped up its investments in health care, technology, mobility, clean energy and life sciences as it expands its portfolio.
This month, it bought a 20 per cent stake in US insurance broker Truist Insurance Holdings for $1.95 billion along with private equity firm Stone Point Capital and other investors.
In July, Mubadala also led a $400 million investment round in Berlin-based digital insurance company Wefox to help it grow internationally.
The Supreme Council also issued a resolution to reconstitute the board of directors of Adia, which will be chaired by Sheikh Tahnoun bin Zayed, National Security Adviser, the media office said.
Its board members include Sheikh Mansour bin Zayed; Sheikh Hamed bin Zayed, who will serve as managing director; Sheikh Khaled bin Mohamed; Khalil Foulathi; Jassem Al Zaabi; and Hamad Al Suwaidi.
Adia, one of the world's biggest sovereign wealth funds, makes investments across asset classes such as equities, fixed income, infrastructure, private equity and property.
In December, it launched its new innovation centre, starting operations with the announcement of a $100,000 research award that focuses on investment strategies.
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
Tips for used car buyers
- Choose cars with GCC specifications
- Get a service history for cars less than five years old
- Don’t go cheap on the inspection
- Check for oil leaks
- Do a Google search on the standard problems for your car model
- Do your due diligence. Get a transfer of ownership done at an official RTA centre
- Check the vehicle’s condition. You don’t want to buy a car that’s a good deal but ends up costing you Dh10,000 in repairs every month
- Validate warranty and service contracts with the relevant agency and and make sure they are valid when ownership is transferred
- If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell
Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com
Men's football draw
Group A: UAE, Spain, South Africa, Jamaica
Group B: Bangladesh, Serbia, Korea
Group C: Bharat, Denmark, Kenya, USA
Group D: Oman, Austria, Rwanda
DIVINE%20INTERVENTOIN
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The specs: 2018 Maserati GranTurismo/GranCabrio
Price, base Dh485,000 (GranTurismo) and Dh575,000 (GranCabrio)
Engine 4.7L V8
Transmission Six-speed automatic
Power 460hp @ 7,000rpm
Torque 520Nm @ 4,750rpm
Fuel economy, combined 14.3L (GranTurismo) and 14.5L (GranCabrio) / 100km
THE SPECS
Engine: AMG-enhanced 3.0L inline-6 turbo with EQ Boost and electric auxiliary compressor
Transmission: nine-speed automatic
Power: 429hp
Torque: 520Nm
Price: Dh360,200 (starting)
COMPANY%20PROFILE
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
