Analysis of Mubadala accounts shows cost of the crunch
Issue 855
- 13 Jun 2009
| 8 minute read
Mubadala Development Corporation (MDC) lost Dh11.8bn ($3.23bn) in 2008, which its first ever annual report puts down to some very substantial impairment charges related to investments made during the boom years prior to the collapse in oil prices and the realisation that Abu Dhabi was not immune to the global economic downturn.
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