Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Mubadala to buy Fortress

Pedestrians walk past a SoftBank mobile shop in Tokyo. (AFP)
By TRENDS Desk
September 7, 2022 12:20 pm
  • The PIF-backed SoftBank Group acquired Fortress in 2017 intending to use the New York-based company's expertise to aid in managing its Vision Fund
  • The reports said the Abu Dhabi sovereign fund could announce an agreement in the coming weeks

Riyadh, Saudi Arabia— Mubadala Investment Co., the Abu Dhabi sovereign fund, is close to buying out Fortress Investment Company in a $2 billion deal, according to media reports.

The PIF-backed SoftBank Group acquired Fortress in 2017, intending to use the New York-based company’s expertise to aid in managing its Vision Fund.

SoftBank, Mubadala and Fortress refused to speak on the buyout of the company.

The Abu Dhabi sovereign fund could announce an agreement in the coming weeks, the reports said.

 

 

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]