News outlet Reuters recently published an article speculating Dubai and Abu Dhabi in talks of merging competing businesses, which the Government of Dubai Media Office dismissed it as untrue.
Rumour over Dubai-Abu Dhabi mergers
Reuters’ editorial claims Dubai and Abu Dhabi were discussing a potential merger by “linking up assets” with the capital’s state fund, Mubadala playing a vital role in the deal. Some unmentioned sources weighed on the article saying the first amalgamation could be “local stock markets,” followed by “joint ownerships” among competing businesses, notably in the tourism, shipping and aviation sectors.
Photograph credit: Dubai Media Office
Dubai denies Reuters’ Abu Dhabi mergers report
Dubai Media Office recently issued a tweet in response to Reuters’ editorial, rubbishing speculations between the emirates’ merger talks, saying the news was “without verification of its authenticity.” They say:
“The Dubai government denied what was reported by “Reuters” today about speculation that talks are currently taking place between the emirates of Dubai and Abu Dhabi regarding economic support provided by the “Mubadala” fund, stressing that the publication of this news was without verification of its authenticity or ascertaining its content and the reliability of its source.”Dubai Media Office
UAE merging ministries after Coronavirus phase
Meanwhile, UAE Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum says the near future could see some Ministries being merged and must be “agile, flexible and fast to keep pace with new and different national priorities,” in line with the UAE’s strategy post-Coronavirus.
(Featured photograph credit: Dubai Media Office)