Investment board has re-shuffle in Dubai

Myanmar News.Net
Tuesday 24th November, 2009

The Investment Corporation of Dubai, the state conglomerate that owns Emirates airlines, has been re-arranged by the state's ruler.

The board now includes two of his sons.

Sheikh Mohammed bin Rashid Al Maktoum, who chairs ICD’s board, has not give a reason for the reshuffle, but the new six-member board still includes Emirates Chairman Sheikh Ahmed bin Saeed Al Maktoum.

Mohamed Alabbar and Mohammed Al Gergawi were removed from the board.

Gergawi is a cabinet minister and chairman of another state investment firm, Dubai Holding, which is an investor in Sony and EADS.

Alabbar is chairman of developer Emaar Properties and director-general of the Dubai Department of Economic Development.

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