* H1 loss 4.43 bln dhs vs profit of 625.5 mln dhs yr ago
* Weighed by lower commodity prices, financial investment
(Adds detail, context)
DUBAI, Sept 8 Abu Dhabi investment fund Mubadala
reported a first-half loss on Thursday hit by lower
commodity prices and weaker financial investment income.
Mubadala is focused on development of the local economy
through both local brands such as clean energy firm Masdar and
stakes in international companies such as General Electric
It is currently merging with fellow Abu Dhabi-owned fund
International Petroleum Investment Co (IPIC), as the
emirate aims to consolidate in response to lower oil prices.
Commodity prices were one of the main drags on Mubadala's
It suffered a loss attributable to equity owners of 4.43
billion dirhams ($1.21 billion) in the first six months of 2016
versus a profit of 625.5 million dirhams a year earlier, it said
in a statement.
It reported a loss in total comprehensive income of 4.96
billion dirhams after a profit of 477.7 million a year earlier.
"The global economic challenges we have faced since the
beginning of 2015 persist," Mubadala Group CEO Khaldoon
al-Mubarak said in the statement.
As well as lower commodity prices, Mubadala was hit by an 80
percent fall in financial investment profits to 328 million
dirhams, with higher depreciation costs and impairments also
Total revenue rose 5.1 percent to 14.3 billion dirhams
boosted by stronger performances in healthcare and
(Reporting by Hadeel Al Sayegh and David French; editing by
Andrew Torchia and Jason Neely)