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Valuable concise reference source on the UAE,
covering political system, economy, business, history and heritage,
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Natural history of the UAE,
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THE ECONOMY - INTERNATIONAL INVESTMENTS
 Khalifa restructures Abu Dhabi Investment Authority’s board
Posted on 18/03/2010
President H.H. Sheikh Khalifa bin Zayed Al Nahyan has issued Amiri decree no 2 of 2010 restructuring the board of Abu Dhabi Investment Authority (ADIA) under his presidency.
Issued in his capacity as Ruler of Abu Dhabi, the decree named the following as members of the board:
H.H. Sheikh Sultan bin Zayed Al Nahyan, the President's Representative,
H.H. Gen. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces,
H.H. Sheikh
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 Mubadala attracts more investors
Posted on 18/03/2010
Abu Dhabi-based sovereign wealth fund Mubadala, which has tapped capital markets to refinance its majority-owned Dolphin gas pipeline linking Qatar with the UAE and Oman, has seen interest for its project bonds beyond the traditional US pool of investors, said Derek Rozycki, executive director for project and corporate finance at a conference.
"We now see more interest from European and Gulf investors, particularly London-based asset managers and emerging market funds," he said.
"Investors
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 ADIA publishes first annual review
Posted on 16/03/2010
The Abu Dhabi Investment Authority (ADIA) yesterday published its first Annual Review and re-launched the ADIA website with enhanced content and interactive features.
The ADIA Review 2009 provides an overview of ADIA's activities during the past year, and includes: a breakdown of its portfolio by asset class and region; a description of its approach to investing and risk management; an outline of how ADIA is structured; and overviews of both its governance practices and relationship with the
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![]() Mubadala in US$2.5bn debt refinance offer
Posted on 14/03/2010
Abu Dhabi Government-owned Mubadala Development Company has invited banks to participate in a self-arranged US$2.5 billion (Dh9.1bn), three-year club loan to refinance existing debt, banking sources close to the deal said.
Pricing on the revolving credit will not be set until the end of March, but the borrower is looking for a consensus from lenders, the bankers added.
Pricing is expected to be aggressive, and will be a long way inside the cost of insuring Abu Dhabi debt for five years, the
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![]() UAE's FDI in US up 230% in 4 years
Posted on 14/03/2010
The UAE has emerged as the fastest-growing foreign investor in the US between 2004 and 2008 followed by India, overtaking the European nations which have traditionally been the top foreign investors in the world's largest economy.
The foreign direct investment (FDI) by the UAE saw 230 per cent average annual increase over four years, followed by India with 64 per cent, Spain with 60 per cent, Chile 50 per cent, Switzerland with 38 per cent, South Korea with 31 per cent, China with 30 per cent
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![]() Mubadala Development Company agrees to acquire equity stake in Raine Group
Posted on 12/03/2010
Mubadala Development Company ("Mubadala") has agreed to acquire a 9 percent equity stake in The Raine Group LLC ("Raine"). They will seek to capitalise on emerging investment opportunities in the media, entertainment and sports ("MES") sectors around the world.
Raine, a boutique merchant bank focused exclusively on MES, was founded by MES veterans Joe Ravitch, former senior partner and global head of media at Goldman Sachs, and Jeff Sine, former Vice-Chairman and global head of Technology,
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 UAE to draft investment law
Posted on 10/03/2010
The UAE government is drafting a law that protects foreign investors, Sultan Bin Saeed Al Mansouri, Minister of Economy, said yesterday at the Global Dubai Tea Forum.
The new law is expected to be enacted by the end of this year, Al Mansouri added.
"In order to enhance the investment climate, we have prepared a draft law on foreign investment. This is aimed at protecting foreign investors, along with systematic incentives," he said.
"We are also preparing a draft law that guarantees a
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 UAE net FDI importer despite rising outflows
Posted on 04/03/2010
The UAE remained a net capital importer although it pumped more than US$45 billion (Dh165bn) in foreign direct investment (FDI) into global markets over the past few years, official figures showed yesterday.
During 2004-2008, the UAE's cumulative FDI in other Arab countries and foreign markets totalled around US$45.08bn, becoming the largest capital exporter in the region, showed the Kuwaiti-based Inter-Arab Investment Guarantee Corporation (IAIGC), a key Arab League financial establishment.
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 Aabar to assemble tunnel-boring machinery in UAE
Posted on 23/02/2010
Aabar Investments, the biggest shareholder in luxury carmaker Daimler AG, said on Monday that it has entered into a Dh25 million joint venture with German tunnel boring specialist Herrenknecht AG.
Abu Dhabi-based company said under the project it will assemble and manufacture tunnel-boring machinery and equipment in the country.
The joint venture will serve customers in the Middle East including the Gulf Region and the North
African region.
In a regulatory statement posted on
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 Role of UAE private sector in building Sudan's economy hailed
Posted on 22/02/2010
Dr. Mustapha Othman Ismail, Advisor of Sudanese President, has underscored the important role of UAE private sector in investment projects in Sudan, which reached to US$2 billion in 2009.
He said this at a symposium held under the title "UAE-Sudan Relations" on the occasion of rehabilitation and reopening of Sharjah Hall at the University of Khartoum, which was funded by the Sharjah Chamber of Commerce and Industry, under the instructions of His Highness Dr. Sheikh Sultan bin Mohammed Al
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 UAE external credit hits 132% of GDP
Posted on 22/02/2010
The UAE has a net external creditor position well in excess of 100 per cent of GDP, among the largest in the International Monetary Fund's (IMF) membership, a recent IMF update on the country showed.
"This position is overwhelmingly with Abu Dhabi, especially as concerns liquid unencumbered external assets, but several of Dubai's government-related entities also have accumulated substantial assets abroad," the report highlighted.
According to the report, UAE's 2009 International Investment
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 Mubadala to get more capital
Posted on 22/02/2010
Mubadala is to get more capital infusion from the government this year in the light of a still-tight credit market.
A senior official from the Abu Dhabi-owned investment arm said although its access to capital has not been impacted by the recent events, the company would still need additional equity to smooth out the cash flow. "I'm sure [we'll take more]," Matthew Hurn, Executive Director, Group Treasury at Mubadala, said on the sidelines of an event in Dubai. "Last year, we didn't use the
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 Aabar to invest in Algeria auto plant, boring equipment firm
Posted on 18/02/2010
Abu Dhabi's Aabar Investments on Wednesday decided to take a minority interest in an auto assembling plant in Algeria.
The investment company will also own a majority 51 per cent in joint venture tunnel-boring equipment manufacturing company with Herrenknecht, a leading German firm that has large stakes in tunnel-boring equipment manufacturing.
The directors of the Abu Dhabi Securities Exchange-listed investment company have approved a 24.5 per cent stake in a joint venture with the
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 Emaar to sell stake in Singapore retailer
Posted on 11/02/2010
Emaar is planning to sell its US$164 million (Dh602.2 million) stake in RSH Holdings, a Singapore retailer, according to Reuters.
The sale of the stake aims to boost cash and shed non-core assets.
An Emaar spokesman, while not denying the claim, told Gulf News, "RSH is a listed company on the Singapore Stock Exchange. Any information requiring public disclosure relating to RSH will be disclosed to SGX as and when appropriate."
Emaar took effective control of RSH last year, owning a 30 per
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 Aabar to spend US$20m on aviation company
Posted on 11/02/2010
Abu Dhabi's Aabar Investments said on Wednesday it will invest US$20 million (Dh73.4 million) in America's aviation company XOJET Inc and plans to create a private aviation services company for the region.
Aabar plans to partner with XOJET, an airline company that offers private jet services to business and leisure travellers mainly in the US, through a joint venture deal, the company said in a statement on the bourse website.
"Aabar and XOJET Inc. are intending to join together to create a
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