ABU DHABI / WAM Mubadala Investment Company, Abu Dhabi’s strategic investment and development fund, has exchanged a set of strategic agreements with the Republic of Uzbekistan, in which future partnerships can be explored across three key strategic sectors; the conventional power generation, renewables, and the oil and gas sectors of Uzbekistan’s economy. This will build on the existing strategic government-to-government ...

Dubai / WAM Uber and Careem have reached an agreement for Uber to acquire Careem for $3.1 billion, consisting of $1.7 billion in convertible notes and $1.4 billion in cash. The acquisition of Careem is subject to applicable regulatory approvals. The transaction is expected to close in Q1 2020. Uber will acquire all of Careem’s mobility, delivery, and payments businesses ...

ABU DHABI / WAM Continuing its upward streak for the second straight month, the total foreign currency assets held by the Central Bank of the UAE increased to AED359 billion by the end of February 2019, a growth of 3.2 percent from AED348 bn in the preceding month, as current account balances and deposits with foreign banks strengthened to AED289.76 ...