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MENAFN - - 01/06/2009

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(MENAFN) General Electric and Mubadala Development Company signed a commercial finance joint venture agreement recently to set up a regional training center for next-generation business leaders, Khaleej Times reported.

GE Chairman of the Board and Chief Executive Officer Jeff Immelt said that the global financial services business proposed under agreement merges Mubadala's regional investment expertise with GE's global origination excellence in one of the world's fastest-growing markets.

Immelt added that since GE's Middle East-based revenues surged more than 60 percent in the past two years, the company clearly shares Mubadala's vision of high-growth opportunities in the region.

A GE veteran is reported to have been chosen to lead the 8 billion joint venture.

 






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