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THIS MORNING: Banks to raise minimum balance requirement as of next month
Plus: Emiratization checks begin on 1 July
Mubadala launches pharma unit, Mubadala Bio
The company operates 10 facilities across Asia, Africa, and Europe, including six in the UAE
EGA to start construction on USD 4 bn aluminum smelter in the US next year
Construction is slated to begin after feasibility studies by late 2026
Fortress, Kimmeridge open offices in Abu Dhabi
Mubadala is invested in both firms
Mubadala plans to invest USD 400 mn in South Korea’s Kakao Mobility via a consortium
Key concerns include skepticism from investors about Kakao Mobility’s valuation and difficulties securing exit agreement terms with shareholders
Mubadala’s assets grew 9% in 2024 amid private credit push
Mubadala’s private credit portfolio grew to USD 20 bn last year
THIS MORNING: EU antitrust regulators set to give their OK to Adnoc for Covestro takeover + Fed likely to keep rates unchanged at meeting today
Plus: The UAE now aims to increase Islamic bank assets to AED 2.6 tn within six years
Hotpack invests USD 100 mn to launch first US facility
Economy Minister Abdulla bin Touq Al Marri met with New Jersey Governor Phil Murphy to discuss strengthening economic and investment…
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