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Mubadala releases 2008 annual report

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Some highlights of the report state, “Also included in the Annual Report is detailed information about Mubadala’s financial performance for the calendar year 2008 – a period of rapid business development. Mubadala’s total assets grew from AED39 billion in 2007 to more than AED54 billion by the end of 2008, representing an increase of 40 percent over the previous year. The company also saw sharp increases in revenues, up by more than 370 percent to AED6.7 billion compared to AED1.8 billion for 2007.

The strong performance was offset by the company’s cautious approach to the valuation of some investments as a result of the decline in Global stock-markets (the S&P 500 Index of leading stocks fell by more than 38% in 2008) and oil prices (which halved between January and December 2008, and ended the year more than two thirds down from their peak in July). This resulted in impairment charges for 2008 of AED8.8 billion spread across a wide variety of publicly and privately held investments in the USA and other markets and contributed to a loss of AED11.8 billion in 2008 against a profit of AED1.3 billion the year before.”

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CalPERS CFO Out over Questions on Resume from Media

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Charles Asubonten has exited as Chief Financial Officer of the California Public Employees’ Retirement System (CalPERS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Court Dismisses Charges on Barclays Qatar Loan Deal

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Barclays can breathe some fresh air for now over a high-profile corporate case. In February 2018, the U.K. Serious Fraud Office (SFO) had brought charges against Barclays and Barclays Bank in regard to the capital raising deals made in 2008. The bank could have lost its banking license, if found guilty of the charges. A number of bank executives were personally charged as well.

The Charges

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Mubadala Participates in PLT Platform Expansion

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The Russian Direct Investment Fund (RDIF) corralled a number of Middle Eastern funds, including the Mubadala Investment Company, to augment investment exposure to a logistics infrastructure investment platform called Professional Logistics Technologies (PLT). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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