The chairman of the Emirates Group and the Dubai Supreme Fiscal Committee, Sheikh Ahmed bin Saeed Al Maktoum has now given the charge of the Chairman of Dubai World, the flagship conglomerate of the emirate. Sultan Ahmed bin Sulayem is substituted by him.
The Vice-President of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid has given this offer to him in a report from Dubai Media Office.
The declaration was made after Dubai World won creditor support for a $25 billion restructuring plan after a month. It is observed by analyst as a major step forward for the state-owned group.
Wam has alleged in a report that a study of Dubai World's investment projects is also containing in it. This task was under the board was in commercial, industrial, agricultural, financial, real estate and various service sectors, as well as any other projects. It is decided that investment will be done by the board in this field.
The reports proposed to it will be undertaken by the new board of Dubai World. The official statement held that proper steps will be taken on the behavior of the Dubai World and its supplementary and their financial positions.
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