Abu Dhabi Mubadala invested record amount in 2020, eyes aluminum IPO

He said Emirates Global Aluminium, which is owned by Mubadala and Investment Corp. of Dubai, is well placed for an initial public offering. (Shutterstock)
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Updated 13 April 2021
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Abu Dhabi Mubadala invested record amount in 2020, eyes aluminum IPO

DUBAI: Abu Dhabi state investor Mubadala invested a record amount in 2020 as it doubled down on growth sectors, and is close to making a decision on the listing of Emirates Global Aluminium, its chief executive said on Monday.
“We’ve invested more in 2020 than we have ever done in any one year prior to that,” Khaldoon Khalifa Al-Mubarak told a virtual event organized by Bahrain’s Investcorp.
Mubarak did not disclose the figure, but his comments signalled Mubadala’s investments will exceed the $18.5 billion in 2019 and $19.1 billion in 2018.
He said Emirates Global Aluminium, which is owned by Mubadala and Investment Corp. of Dubai, is well placed for an initial public offering.
“This company is now a very mature business, a very well-placed business for growth. It’s cost base is in the lowest quartile...it’s a great business,” he said.
A plan to list EGA was delayed in 2018. Mubarak said Mubadala paused for 6-8 weeks in March 2020, using the time to understand the ramifications of the pandemic.
“We supercharged our monetization when it came to the sectors in the headwinds and we kept investing in the sectors in the tailwinds, building new partnerships and really focusing on life sciences, as an example, technology, mobility, digital infrastructure,” he said.
Mubadala, which manages $232 billion, invested $853 million in the retail division of India’s Reliance Industries in October after paying $1.2 billion for a 1.85% stake in Reliance’s digital unit, Jio Platform in June.
“We have invested more in India in 2020 than the previous 19 years combined, that gives you an indication of how serious we are about investing in India,” Mubarak said, noting Mudabala had been underweight in terms of its exposure to the country in the past.
He confirmed Mubadala’s team is looking at the pipelines business of Saudi Aramco but had yet to decide whether to invest, nor had it taken a view on the listing of Santa Clara-based semi-conductor producer Globalfoundries.
Mubarak said future risks include inflation, another pandemic, the trade rift between the United States and China, as well as a global correction and economic slowdown.

($1 = 3.6728 UAE dirham) (Reporting by Saeed Azhar and Alexander Cornwell; editing by Jason Neely, Kirsten Donovan)


Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

A Harvard sign is seen at the Harvard University campus in Boston, Massachusetts, on May 27, 2025. (AFP)
Updated 10 February 2026
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Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

  • The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts

RIYADH: Saudi Arabia’s education system is undergoing a sweeping transformation aligned with Vision 2030, shifting from traditional, input-focused methods to outcome-based education designed to equip students with future-ready skills, Harvard Business Review Arabic reported.

The transformation is being adopted and spearheaded by institutions such as Al-Nobala Private Schools, which introduced the Kingdom’s first national “learning outcomes framework,” aimed at preparing a generation of leaders and innovators for an AI-driven future, the report said.

Al-Nobala has leveraged international expertise to localize advanced learning methodologies.

The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts. The school’s group approach combines traditional values with 21st-century skills such as critical thinking, communication, innovation and digital fluency.

According to the report, the shift addresses the growing gap between outdated models built for low-tech, resource-constrained environments and today’s dynamic world, where learners must navigate real-time information, virtual platforms, and smart technologies.

“This is not just about teaching content, it’s about creating impact,” the report noted, citing how Al-Nobala’s model prepares students to thrive in an AI-driven world while aligning with national priorities.

The report noted that Saudi Arabia’s Ministry of Education has paved the way for this shift by transitioning from a centralized controller to a strategic enabler, allowing schools such as Al-Nobala to tailor their curriculum to meet evolving market and societal needs. This is part of the long-term goal to place the Kingdom among the top 20 global education systems.

Al-Nobala’s work, the report stated, has succeeded in serving the broader national effort to link education outcomes directly to labor market demands, helping to fulfill the Vision 2030 pillar of building a vibrant society with a thriving economy driven by knowledge and innovation.

Last February, Yousef bin Abdullah Al-Benyan, Saudi Arabia’s minister of education, said that the Kingdom was making “an unprecedented investment in education,” with spending aligned to the needs of growth and development. He said that in 2025, education received the second-largest share of the state budget, totaling $53.5 billion.