Abu Dhabi’s Mubadala Sees First-Half Profit Fall
Mubadala Development Co. posted a sharp fall in year-over-year first-half profit on Thursday as costs rose and lower oil prices hit revenues in its oil and gas division.
Mubadala, an investment and development vehicle owned by the Abu Dhabi government, said it made a net profit of 625 million U.A.E. dirhams ($170 million) in the first half, a fall of 53% compared with the same period last year. Details