IN BRIEF (Page 17)
China Daily | Updated: 2008-07-23 07:40
New fund
General Electric Co, seeking higher returns overseas, and Abu Dhabi's Mubadala Development Co formed a partnership to invest in emerging markets in the Middle East and Africa, led by an $8 billion commercial finance fund.
GE and Mubadala, run by the ruling al-Nahyan family, will each contribute $4 billion in equity over three years to the fund, with the aim of reaching $40 billion in assets, the companies said in a statement yesterday.
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