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Prince Alwaleed Receives Khaldoon Al Mubarak, CEO of Mubadala

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According to the press release, “HRH Prince Alwaleed bin Talal bin Abdulaziz Al Saud, Chairman of Kingdom Holding Company (KHC) received, and held a meeting with HE Khaldoon Al Mubarak, CEO of Mubadala Development Company (MDC) at HRH’s office in Riyadh. The meeting was attended by a delegation from KHC, Rotana and Mubadala Development Company.

On the agenda of discussions during the meeting between HRH and Mr. Al Mubarak, were His Highness’s solid regional presence in the various sectors, including real estate, hotels and media. Moreover, the meeting touched upon local, regional and international economic and investment issues, and future potential business collaboration. After the meeting the Prince hosted a dinner in honor of his guest and the accompanying delegation at Kingdom Resort.

Prince Alwaleed’s investments in the UAE through Kingdom Holding Company consist of Citigroup in the financial and in the hotel sector through the management of two Fairmont hotels, and four Movenpick hotels.”

Read more: Press Release

Nomura and CIC Contemplate Joint Investment Fund

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Japan-based Nomura Holdings is in talks with the China Investment Corporation (CIC) on forming a new investment fund. The fund could be receive commitments up to US$ 1 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek Holdings Dumps More of Celltrion

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On October 22, 2018, Singapore’s Temasek Holdings, through its sovereign wealth enterprise (SWE) Ion Investments, entered into its second block deal in selling shares in Celltrion, a South Korean bio-pharmaceutical company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Alleged Fraud, Data Breaches, and Bias, Plague Facebook

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In an unfortunate break for Facebook, the true nature of its data breach is more troubling than previously believed. The social media giant revealed that its headline-topping security breach, which affected 29 million accounts, compromised personal information and seemingly confidential contact information. The FBI is said to be investigating. In September 2018, the story broke that user content, email, and phone numbers, along with personal profile information, was swiped from the site. Facebook has admitted the problem, but stopped short of offering users an apology. The U.S. Federal Trade Commission (FTC) and the Irish Data Protection Commission have questioned Facebook on the matter.

Access Tokens

At the root of the breach were Facebook “access tokens.” These are digital keys that give sites access to keep users logged in and to recognize them upon entry. Unknown hackers reportedly stole these access tokens for 400,000 people. They then used “friends lists” to steal tokens from their networks. Facebook did not shy away from noting that unauthorized access “included username, gender, locale/language, relationship status, religion, hometown, self-reported current city, birthdate, device types used to access Facebook, education, work, the last 10 places they checked into or were tagged in, website, people or Pages they follow, and the 15 most recent searches.” This is, clearly, a staggering amount of personal information and a black eye for the corporation.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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