CURRENT AFFAIRS

Detailed explanation-1: -Jio Platforms set to raise Rs 5683.50 crore from Abu Dhabi Investment Authority by selling 1.16% equity stake. ADIA follows Mubadala Investment Co., , the sister firm of the UAE’s largest sovereign wealth fund in its investments in Jio Platform.

Detailed explanation-2: -The Abu Dhabi Investment Authority (ADIA), was founded in 1976 and invests funds on behalf of the emirate’s government. It is the largest sovereign wealth fund in the Middle East with an asset value of $708.75 billion. The primary source of ADIA is the revenue generated by oil exports in the emirate.

Detailed explanation-3: -Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long‑term value creation.

Detailed explanation-4: -The Abu Dhabi Investment Authority (ADIA) is a government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates.

Detailed explanation-5: -ADIA was set up in 1976 to manage the oil surplus revenues of Abu Dhabi, one of the world’s top crude exporters. It’s the biggest sovereign wealth fund in the city, eclipsing Mubadala Investment Co. and ADQ, and one of the largest in the world.