Oil-rich Abu Dhabi takes lead from high-flying Dubai

From: Arab - American Business | Date: February 1, 2007| Author: | Copyright information

ABU DHABI (AFP) - Abu Dhabi, which controls more than 90 percent of the vast oil wealth of the United Arab Emirates (UAE), appears to have set its sights on following the example of booming Dubai.

Officials from the largest emirate in the UAE federation recently emphasized the emirate's drive to diversify and restructure the revenue base of its economy. "Abu Dhabi stands today at the threshold of a crucial period of economic transition," Sheikh Hamed bin Zayed al-Nahayan, a son of the founder of the Gulf state, told delegates at the Abu Dhabi Economic Forum.

"Our political leadership is ...

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