Abu Dhabi fund Mubadala's H1 profit up 10.4 pct on investment gains | Reuters:
"Mubadala, the Abu Dhabi investment fund with a mandate to develop the emirate's local economy, on Thursday posted a 10.4 percent rise in first-half profit boosted mainly by income from financial investments.
Mubadala, which has stakes in General Electric and private equity firm Carlyle, said profit attributable to equity owners for the first half of the year was 1.1 billion dirhams ($299.5 million), compared with 984.7 million dirhams in the corresponding period last year.
Unlike other regional sovereign wealth funds like Abu Dhabi Investment Authority (ADIA) or Qatar Investment Authority (QIA), Mubadala's main goal is to engage in investments which enhance development of the local economy, a theme which has gained greater prominence in the wake of the Arab spring."
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