Standard Chartered is launching a global campaign that takes its ‘Here for good’ brand promise and poses a new tougher challenge: ‘Good enough will never change the world’. Launched in 2010, ‘Here for good’ showed how a bank could be a force for good by promoting economic activity that has a positive social impact. The new campaign retains the original brand promise but sharpens our focus on how banks can help tackle some of the problems that stand in the way of global prosperity and commerce. Behind the ‘Good enough will never change the world’ campaign is an eighteen-month deep-dive into the values underpinning Standard Chartered and ‘Here for good’. The project included hundreds of client interviews and collected inputs and values of our 85,000 colleagues. The campaign showcases a series of inspirational short films featuring people who accomplished extraordinary things because they wouldn’t settle for ‘good enough’. Directed by award-winning film-maker Asif Kapadia, the launch video stars Jamaican sprinter and Olympic champion Usain Bolt. Usain added: “I always say ‘never think limits’ and ‘anything is possible’. It is not enough to dream big – you need to push through barriers to realise your dreams,” said Usain Bolt. “When you have an end goal in mind and you’re passionate about it, you can find the will and the strength to break through boundaries and achieve that goal.” Follow-up videos will tell stories of how companies and clients overcame obstacles to deliver stronger performance or make a difference in emerging markets across Africa, Asia and the Middle East. Emma Sheller, Global Head, Brand and Marketing said: “What is really exciting about the next chapter in ‘Here for good’ is that it’s deeply rooted in the Bank’s clients, employees and history. It’s also about being in tune with what’s happening in the world. We set the bar high with ‘Here for good’. Now we are setting it higher with ‘Good enough will never change the world’.” Standard Chartered will roll out the new campaign messaging from April 30 via TV, print and outdoor advertising. The new ads will run on platforms such as CNN, CNBC, Bloomberg, Channel NewsAsia and the BBC, including a content partnership with BBC Storyworks that will go live in June. British Airways, Cathay Pacific, Emirates and Singapore Airlines flights will also carry the ads. The campaign will also appear on out-of-home billboards and radio. The campaign kicks off today in Hong Kong, Korea, Singapore, Taiwan and the United Kingdom. It will roll out in 2018 in phases across the rest of the Bank’s footprint. To watch the ‘Champions’ film and find out more please visit https://www.sc.com/hereforgood For more information, please contact: Stéphanie J. Batot Director, Retail Banking Communications +65 6596 0166

Conares, the second largest private steel manufacturer in the UAE, has inaugurated its 12’’ pipe mill in Jebel Ali Free Zone. The new state-of-art facility, installed with an investment of AED 100 million, now makes Conares a manufacturer of 1-million-ton steel products annually. Bollywood megastar Shah Rukh Khan inaugurated the new plant in the presence of HE Mohammed Al Muallem, CEO & Managing Director, UAE Region – DP World and other senior officials. Conares is the leading producer of steel pipes and rebars within the region, and the only private manufacturer in the UAE. The company is also amongst the top three steel rebar mills operating 24×7 to serve the upcoming projects in the country. Commenting on the new facility, Mr. Bharat Bhatia, CEO of Conares, said, “We are proud to launch the 12’’ pipe mill, which will increase our pipe manufacturing capacity by 250,000 metric tonnes. This mill increases our pipe product range, enabling us to meet the growing demand from the region’s infrastructure development sector. With this we have now achieved our milestone of 1 million tonnes capacity of steel production annually.” “In terms of facility growth, we are aligning Conares with the region’s commitment to infrastructure developments keeping the vision of the UAE and Dubai Vision 2021. For Conares, the Vision 2021 is crucial to make it a manufacturing powerhouse. We foresee a good demand for our products for the ongoing projects in the UAE, especially the projects related to development to host the World Expo 2020 in Dubai. The new plant will produce pipes ranging from 4” to 12” sizes,” he added. “We plan to produce 20 per cent more than last year. Last year, we produced 525,000 metric tonnes and this year we intend to produce more than 635,000 metric tonnes. We crossed a turnover of above AED 1 billion in 2017. Compared to this, we expect a revenue increase by 30 per cent in 2018.” “Conares has already drawn fresh plans for expansion. We have commenced construction of our Continuous Color Coating Mill at an estimated investment of AED 100 million. We expect to commission this plant soon with commercial production expected to begin in the last quarter of this year,” Mr. Bhatia elaborated. “We strongly believe in the vision of the leadership of this nation. With the support from federal and local government agencies, our products have not only gained market wide acceptance but also are the preferred choice of many prestigious projects today,” he said. “We have good presence in the international market as well. We are exporting our pipes and tubes to different countries outside the UAE and the GCC since 2005. Conares’ export to the US is nearly 15 per cent of its total production. We are also in the process of developing new markets for our products,” he added. Speaking about the growth of steel industry towards 2020, Mr. Bhatia said, “We have a positive outlook until 2020, and see a good demand within the UAE and the GCC region. The Expo 2020 and UAE Vision 2021 will keep most of the producers busy in meeting the steel requirements. Lately, we also meet enquiries from many countries, which can receive the cargo in maximum three weeks.” Conares has constantly been evolving with the region. The company’s growth has remained on a buoyant trajectory since three decades of its operations, helping it cross significant growth milestones in the steel industry. -ENDS- About Conares With its foothold securely placed in the steel industry, Conares is the one of the largest and the only private steel manufacturers in the region. Since its inception in 1988, Conares initially focused on steel trading. Having built extensive partnerships with renowned steel plants across the world, it brought the world-best competencies to the region, by setting up its own state of art manufacturing facility in UAE. The company earmarked AED 200 million towards expansions by the year 2020. Being a 100 per cent privately owned entity, the company assets exceed US$300 million of investments in the UAE. As the Middle East focuses on development, Conares serves as the perfect partner to meet the growing industry requirements for steel rebars and pipes. A diversified and full-fledged manufacturing facility based in the UAE, the strategic hub between the East and the West, Conares today is the premier producer of quality steel products for wide-ranging needs; having a total manufacturing capacity of 1,000,000 MT annually. Conares earned various international product certifications for its various steel products, which it serves in the fledgling construction industry in the region and abroad.  Meanwhile, its on-going efforts in streamlining its manufacturing operations to be safe for its employees and community have earned the company its sustainability certification from UK CARES Sustainability Scheme. From its central location in Dubai, UAE; Conares serves an extensive network of clientele including pre-engineering companies, steel trading companies and construction majors not in the Middle East but across wider markets that are easily accessed from its headquarters. Led by a team of experienced and skilled professionals, Conares today employs more than 500 people. Conares has set new benchmarks in the steel industry through its commitment to quality, excellence and service standards. A trusted name in the industry, Conares is led by the vision to support the region’s infrastructure development by providing world-class steel products through long-term partnerships. At Conares every business partnership, each product, every process and any aspect of service is defined by three core values – Trust, Quality & Strength. For further information, please contact: Rasheed Palliyalil Watermelon PR Dubai, UAE Tel: +9714 283 3655 Email: rasheed@watermelonme.com  

We are proud to announce the signing of an MOU between Agthia and the Dubai Police in the presence of General Commander Abdullah Al-Marri and Agthia’s Chief Executive Office Eng. Tariq Ahmed Al Wahedi. This Agreement will enable Esaad card members from the Dubai Police and the Dubai government to purchase Agthia products at discounted prices.  

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has been granted membership of the Global Privacy Enforcement Network (GPEN), as of March 29th, 2018.  The GPEN membership will be headed by ADGM’s Registration Authority (RA), the data protection regulator of ADGM. Established in 2010, GPEN is an international network of data protection authorities, comprised of over 60 members from around 50 different countries and regions with the purpose of facilitating cross border enforcement of privacy protection laws and strengthening personal privacy and data protection in a global context. ADGM is the first member from the Gulf Cooperation Council (GCC), providing the opportunity to build international relationships in the data protection field. The GPEN membership will also provide a platform to share best practice and facilitate cooperation on privacy law enforcement.  Membership of GPEN will strengthen ADGM’s ability to raise awareness of the importance of privacy and data protection As a member of GPEN, ADGM responsibilities will include discussing the practical aspects of privacy law enforcement cooperation, sharing best practices in addressing cross-border challenges, working to develop shared enforcement priorities and supporting joint enforcement initiatives and awareness campaigns. GPEN membership also raises ADGM’s profile as a jurisdiction in the region that is committed to privacy and data protection. It is also particularly timely, given current international developments in data protection, such as the European Union’s General Data Protection Regulation (GDPR), which comes into force on 25 May 2018. H.E. Ahmed Ali Sayegh; Chairman of ADGM said, “We are honoured to be granted membership of GPEN. Data protection and privacy are fundamental to a robust and transparent international financial centre. The Registration Authority has enforced a data protection regime that is in line with international best practices and is proactive in implementing advancements in the field. Initiatives such as the membership seek to instil greater confidence in our stakeholders and position ADGM as a leader in the international community of data protection and privacy.” Data protection is a key element of ADGM’s legal regime, contributing to ADGM’s standing and integrity as an International Financial Centre (IFC). Implementation of international best practices in data protection and membership of bodies such as GPEN play an integral role as key distinctions between ADGM and other IFCs. GPEN membership is one of many ongoing initiatives and activities to bolster data privacy and protection at ADGM. About Abu Dhabi Global Market: Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015.  Established by UAE Federal Decree as a broad-based financial centre, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance. It serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world. Based in Abu Dhabi, home to one of the world’s largest sovereign wealth funds and one of the highest concentrations of high-net-worth-individuals in the world, ADGM’s strategy is anchored by Abu Dhabi’s key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: the Registration Authority, the Financial Services Regulatory Authority and ADGM Courts, it enables registered financial institutions, companies and entities to thrive and operate within an international regulatory framework based on Common Law. Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for two consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.* As part of its mandate, ADGM oversees and governs the Al Maryah Island, a designated financial free zone covering 114-hectares of financial and commercial services including residential, retail, leisure, hotel and office developments.    For more details of ADGM, please visit www.adgm.com or follow us on Twitter : @adglobalmarket and Linked : ADGM * Source : The Global Investor Middle East and North Africa (MENA) Awards For more information Kindly contact: Afra AL Rashdi Senior Manager – PR and media Afra.alrashdi@adgm.com Tel:00971561777288

In its first year as a new entity, operating income was AED 10.7 billion; total comprehensive income was AED 10.3 billion; total assets grew to AED 469.4 billion.

Today, Mubadala Investment Company of Abu Dhabi announced its full-year 2017 financial and operational highlights.

Group Chief Executive Officer and Managing Director, Khaldoon Khalifa Al Mubarak, said: “2017 was a landmark year for our new organization. All four global platforms contributed to our strong financial and operational results. The scale of our integrated portfolio enabled us to increase investments in existing companies and monetize mature assets, while entering new sectors in key international markets where we see long-term growth potential and alignment with Abu Dhabi’s strategic priorities.”

Financial highlights for the full-year period ending 31st December 2017*, include:

• Revenue was AED 165.6 billion compared to AED 145.4 billion in 2016, driven by the strong performance of all four global platforms, with major contributions from upstream & integrated, petrochemicals and the semiconductor business sectors.
• Operating Income was AED 10.7 billion compared to AED 9.6 billion in 2016. Petrochemical and Aluminum manufacturing assets were major growth drivers.
• Total Comprehensive Income was AED 10.3 billion compared to AED 5.1 billion in 2016, with gains from divestments of mature assets and the increase in value of financial holdings.
• Total Assets were AED 469.4 billion at the end of 2017 compared to AED 449.7 billion at the end of 2016.
• Total Equity was AED 258 billion at the end of 2017 compared to AED 228.3 billion at the end of 2016.
• Cash and Cash Equivalents was AED 29.9 billion at the end of 2017 compared to AED 33.8 billion at the end of 2016.
• The gearing ratio was 28.7% at the end of December 2017, compared to 29.6% at the end of 2016.
• Mubadala Investment Company was formed through the merger of Mubadala Development Company and International Petroleum Investment Company in 2017. MDC and IPIC, both wholly owned subsidiaries of MIC, hold credit ratings by Moody’s, Standard & Poor’s and Fitch of Aa2/AA/AA respectively.

Chief Financial Officer, Carlos Obeid, said: “In 2017 we made significant progress by reducing overall leverage while maintaining appropriate liquidity to deploy capital in new investments. In addition, we took the opportunity to monetize some of our mature assets which provided a significant return on our original investments, in line with our mandate to deliver financial returns to our shareholder.”

Operational highlights from across Mubadala Investment Company’s four global business platforms are:

Aerospace, Renewables & ICT

• Mubadala successfully completed the sale of a 40 percent stake in Tabreed, its district cooling business, to ENGIE, a global energy leader for AED 2.8 billion. Mubadala remains the largest shareholder of the Abu Dhabi based district cooling utility company.
• Masdar inaugurated its third wind farm in the UK, the Dudgeon Offshore Windfarm, bringing the combined power generating capacity of all three projects to 1 gigawatt (GW) – enough clean energy to supply nearly 1 million homes. The wind farm comprises 67 wind turbines and is now supplying around 410,000 UK homes in one of the largest deployments of 6MW wind turbines, the most powerful on the market.
• Strata Manufacturing completed delivery of its first set of A350-900 inboard flaps to Airbus. Airbus selected Strata to manufacture the A350-900 inboard flap in 2015. Strata-produced inboard flaps have been incorporated into A350s from January 2018 and the company expects to ramp up production of these important components in 2018 and 2019.

Alternative Investments & Infrastructure

• Mubadala made a AED 55.1 billion (US $15 billion) commitment to the US $100 billion SoftBank Vision Fund, the world’s largest dedicated technology investment vehicle.
• Mubadala opened its first U.S. office in San Francisco, to support its Venture Capital business which will oversee early growth investments and manage the Softbank Vision Fund investments.
• Ardian, the world-class French private equity investment company, confirmed it would commit up to AED 9.1 billion to private equity funds managed by Mubadala Capital.
• Mubadala continued to invest in its world-class healthcare facilities, which saw substantial growth across 2017:
  • Cleveland Clinic Abu Dhabi recorded 475,319 patient visits and performed 13,372 surgical cases. The multi-specialty hospital also achieved a major medical landmark with the country’s first full multi-organ transplant. This landmark moment for tertiary transplant medicine in the UAE, and the region, included a heart, lung, kidney and split-liver transplant.
  • Healthpoint recorded 319,870 patients visits and physicians performed 4,891 surgical cases.
  • Imperial College London Diabetes Centre (ICLDC) recorded an 18% increase in patient activity with a total of 326,684 patient visits, and the new Zayed Sports City branch reached breakeven point after only three months of operation.

Petroleum & Petrochemicals

• Nova Chemicals announced the acquisition of one of the largest petrochemicals facilities in the U.S., the olefins plant in Geismar, Louisiana, for AED7.7 billion (US$2.1 billion), marking a major entry into the U.S. Gulf Coast market.
• Borealis and ADNOC, working through the Borouge joint venture, announced plans to extend and expand petrochemical activities in Ruwais, through the building of the Borouge 4 polyolefin facility and an Engineering, Procurement & Construction tender for the new Borstar® polypropylene plant, PP5.
• In November 2017, Cepsa and ADNOC signed an agreement to evaluate a new world-scale LAB complex in Ruwais, Abu Dhabi, expected to be operational in 2022. Cepsa is the world’s leading producer of Linear Alkylbenzene (LAB), the main raw material used to make biodegradable detergents, producing 600,000 tonnes annually equating to 15% of global production. ADNOC and Cepsa bring complementary strengths to the project; ADNOC resources and expertise in the feedstock area from its Ruwais refinery, and Cepsa’s LAB technology and market knowledge.

Technology, Manufacturing & Mining

• EGA produced a record 2.6 million tonnes of cast metal in 2017, exceeding 2016’s production and making EGA the third largest producer of primary aluminium outside China. EGA also opened its first office in China and continues to make progress on two major value chain integration projects including; a 2 million ton alumina refinery at Al Taweelah, Abu Dhabi, and a 12 million ton bauxite export mine in Guinea.
• Mubadala sold 85 million shares worth 4.18 billion dirhams ($1.139 billion) in Advanced Micro Devices (AMD). Mubadala retained a 12.9% stake in AMD and remains the largest shareholder.
• GLOBALFOUNDRIES successfully ramped up its most technologically advanced facility at Malta, in upstate New York, delivering 14nm technology to some of the largest fabless players in the industry at best-in-class product yields. The company is also building an advanced 300mm semiconductor fab in Chengdu, China. The construction of the fab is on track to be completed in 2018.

Notes:

Mubadala Investment Company results incorporate the Mubadala Development Company (MDC) and International Petroleum Investment Company (IPIC) financial statements for 2017 as legal entities with ongoing reporting obligations under the umbrella of the new Mubadala Investment Company Group. As part of an ongoing financial restructuring process related to the merger, a new non-public vehicle was established by Mubadala Investment Company to hold Mubadala’s sovereign investment partnerships and other investments, which includes the SoftBank Vision Fund.

In March 2018, it was announced that the Abu Dhabi Investment Council (ADIC) will join the Mubadala Investment Company Group. Unlike MDC and IPIC, ADIC is not required to publish its financial results.

*Figures do not include Abu Dhabi Investment Council financials.

**2016 figures are pro forma and represent an aggregation of MDC and IPIC 2016 reported numbers