Abu Dhabi’s Crown Prince Sheikh Mohamed bin Zayed issued a resolution to merge International Petroleum Investment Co. (IPIC) and Mubadala Development Co. The two sovereign wealth funds will continue to operate independently until a joint committee concludes its assignment of overseeing the merger. According to a statement on state-run WAM news agency, the move aims to enhance growth in multiple sectors including the energy and utilities sector, technology, aerospace, industry, health care, real estate and financial investments. (Bloomberg)
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