Middle East business information

Abu Dhabi's government-owned investment vehicle, Mubadala has announced plans to manufacture computer chips in the country, Reuters has reported. The firm, which owns a stake in Advanced Micro Devices (AMD), has committed $10bn to the project through Globalfoundries, a contract chip maker which is co-owned by AMD and Abu Dhabi investor Advanced Technology Investment Co. (ATIC). 'In four years, you'll see the first foundry in Abu Dhabi,' Mubadala chief operating officer, Waleed Al Muhairi said.