Dubai flagship companies not sold to Abu Dhabi

Many rumours have been flying around Dubai over the past 3 months and I have heard from people that they knew that Nakheel and Emirates Airlines had been sold (or partially sold) to Abu Dhabi. Well, that is not the case, and I am sorry to disappoint many people with the inside information!

I have had a strong opinion that this is not at all possible.

Abu Dhabi emirate, which is the capital city of UAE, and Dubai emirate have always had a long established and solid relationship spanning many decades.

Today, none less than the President of UAE has vindicated my opinion and in an interview to a new newspaper from Abu Dhabi confirmed that Abu Dhabi has not bought and is not interested in Dubai flagship companies.

Although Abu Dhabi is much more richer than Dubai and is more conservative in its approach to everything, however, according to long established traditions spanning centuries between various regions and countries in the Middle East, financial interference in times of need has never occured and nor should it occur. Additionally, Abu Dhabi and other countries and emirates have benefited from Dubai's rising gobal profile and the capability of UAE to provide a crime free safe haven in the entire Middle East and Africa. This has allowed all the nations in Middle East to benefit financially as well as gain a greater international profile while providing investment opportunities to all without any restrictions. It was unfathomable that Abu Dhabi or anyone else would try to stifle this long term growth strategy due to the financial crisis and further compound the problems here.

Abu Dhabi and Dubai are simply like good old friends who help each in their times of need, just like Kuwait helped Dubai to finance the dredging of Dubai creek in 1965.

A friend in need, is a friend indeed!

Economy is resilient, says Khalifa
WAM
Published: March 15, 2009, 23:05

President His Highness Shaikh Khalifa Bin Zayed Al Nahyan, has denied rumours that the Abu Dhabi government is seeking to acquire companies owned by the Dubai government and said there are misinterpretations about the relations between the emirates.