UAE, Bahrain to establish joint investment fund

The United Arab Emirates (UAE) and Bahrain plan to establish a joint fund to invest in both countries and abroad, state media from both Gulf countries reported on Tuesday.

The new fund will be launched by Bahrain's sovereign wealth fund Mumtalakat and Abu Dhabi's Mubadala Investment Co, the official Bahrain News Agency said.

The announcement came during a visit to the UAE by Bahraini Crown Prince Salman bin Hamad Al Khalifa.

(Reuters)