By Reuters Staff
2 Min Read
DUBAI, March 1 (Reuters) - Abu Dhabi’s state holding company ADQ is worth $110 billion, sovereign wealth fund tracker Global SWF said - the first publicly available estimate of ADQ’s assets under management.
Established in 2018, ADQ has gained prominence over the past year as Abu Dhabi consolidated several government assets under its banner.
ADQ, which did not immediately respond to a request for comment, owns Abu Dhabi Ports, Abu Dhabi Airport and bourse operator ADX.
It has also built up a portfolio of food and agriculture businesses and last year agreed to acquire an indirect 45% equity stake in commodities trader Louis Dreyfus Co.
Abu Dhabi s ADQ assets are worth US$110 billion, says Global SWF thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.
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The UAE appointed its first ambassador to Israel this week as the two nations continue to strengthen ties.
Mohamed Al Khaja was sworn in by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, at a ceremony at Al Watan Palace in Abu Dhabi on Sunday.
The Dubai Ruler wished him success in his new role and called on him to cement a culture of peace, co-existence and tolerance between the countries.
It is a significant step in the career of Mr Al Khaja, as the UAE seeks to build on the firm foundations laid down through the signing of the landmark Abraham Accord last September.
Brother to testify against Baling MP and other news you may have missed
Modified8 Feb 2021, 11:57 pm
A
KINI ROUNDUP | Here are key headlines you may have missed, in brief.
1. The corruption charges against Abdul Latif Abdul Rahim were dropped in exchange for testifying against his own brother - Umno s Baling MP Abdul Azeez Abdul Rahim.
2. Health Minister Dr Adham Baba issued an order to reduce the quarantine period for his fellow ministers from 10 days to three if they are returning from an official overseas trip.
Health minister issues order which essentially reduces ministers’ quarantine time from 10 days to three. Tgram: bit.ly/mktg8Posted by Malaysiakini on Monday, 8 February 2021
KUALA LUMPUR (Feb 5): Were the two top executives of the Abu Dhabi wealth fund implicated in the 1Malaysia Development Bhd (1MDB) scandal convicted and jailed two days ago in the United Arab Emirates?
According to a Feb 3 news report by the Khaleej Times, the Abu Dhabi Criminal Court had sentenced a former senior management executive of a government-owned company and its chief executive officer (CEO) to 15 years jail for money laundering. The pair a former chairman of the board of directors and a CEO of an Abu Dhabi company was ordered to return about Dh8 billion (US$2.2 billion) to the two companies they misappropriated public funds from.