Mubadala Development, a strategic investment company owned by the Abu Dhabi Government, announced profits of Dh1.1 billion (US$299.5 million) for last year as revenues grew by 22 per cent. The main contributors were energy, aerospace and infrastructure. Mubadala's key assets in those sectors, and some other businesses, are:
Strata
Strata is an aerostructures plant in Al Ain that opened last year and finished its first composite aircraft parts in September. Its first products were flap track fairings, structures that reduce drag on jetliners' wings, for Airbus A330s and A340s. The plant has contracts with Airbus, Alenia Aeronautica and FACC, and other major aircraft makers. A second phase of construction to expand the business is expected to begin next year.
Sanad
Sanad was launched last year to lease and manage spare parts and engines for aircraft. It is part of Mubadala's numerous aircraft maintenance ventures, which include SR Technics, a maintenance and repair outfit based in Zurich airport, and Abu Dhabi Aircraft Technologies, which services military and civilian aircraft. Mubadala also owns the Advanced Military Maintenance Repair and Overhaul Centre, a venture with the US company Sikorsky.
Paris-Sorbonne University
Mubadala is behind the new Abu Dhabi branch of one of France's most famous educational institutions on Al Reem Island, which comprises one of its core investments in infrastructure. The first phase was completed in 2009, and the second phase last August. Other investments in education infrastructure include a new UAE University campus in Al Ain and a branch of Zayed University in Abu Dhabi.
Dolphin Energy
Dolphin Energy operates the Gulf's only interstate gas pipeline and produces gas in Qatar. Along with Pearl Energy, which does exploration and production in South East Asia, Dolphin has been a major contributor to Mubadala's revenues in past years. Last year, energy companies contributed 38 per cent of revenues, down from 81 per cent in 2008.
Imperial College London
One of Mubadala's oldest healthcare assets, the Imperial College of London Diabetes Centre, opened in Abu Dhabi in 2006. Since then Mubadala has diversified its healthcare holdings, which now include the Abu Dhabi Knee & Sports Medicine Centre, the Arzanah Wellness & Diagnostic Centre and the Tawam Molecular Imaging Centre in Al Ain. A new branch of the Cleveland Clinic is due to open on Sowwah Island.
Emirates Aluminium
Emal, a joint venture with Dubai Aluminium, reached full production capacity last year and is a central asset in Mubadala's portfolio of industrial companies.
Stock holdings
Mubadala has substantial holdings in stocks locally and internationally. It is one of the biggest shareholders in General Electric, Advanced Micro Devices and the Carlyle Group. It owns large chunks of the property developer Aldar, and Tabreed, a district cooling company.
* Asa Fitch
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Final round
25 under - Antoine Rozner (FRA)
23 - Francesco Laporta (ITA), Mike Lorenzo-Vera (FRA), Andy Sullivan (ENG), Matt Wallace (ENG)
21 - Grant Forrest (SCO)
20 - Ross Fisher (ENG)
19 - Steven Brown (ENG), Joakim Lagergren (SWE), Niklas Lemke (SWE), Marc Warren (SCO), Bernd Wiesberger (AUT)
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
LAST-16 EUROPA LEAGUE FIXTURES
Wednesday (Kick-offs UAE)
FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm
Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm
Inter Milan v Getafe (one leg only) 11pm
Manchester United (5) v LASK (0) 11pm
Thursday
Bayer Leverkusen (3) v Rangers (1) 8.55pm
Sevilla v Roma (one leg only) 8.55pm
FC Basel (3) v Eintracht Frankfurt (0) 11pm
Wolves (1) Olympiakos (1) 11pm
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