Wednesday 20 May 2009

Dubai minister removed on internal differences

The shock removal of Dubai’s de facto finance minister this week came as the result of an internal battle between him and a senior adviser to Dubai’s ruler, Sheikh Mohammed bin Rashid al-Maktoum, officials indicated on Tuesday.

The vacuum of information surrounding the departure of Nasser al-Shaikh, Dubai's department of finance chief, has set the Dubai rumour mill alight. But senior Dubai officials said on Tuesday he had fallen foul of a senior adviser to Sheikh Mohammed as Mr Shaikh gained a higher profile through his efforts to combat the effects of the global economic crisis.

Mr Shaikh, along with Omar bin Sulaiman, Dubai International Financial Centre governor, has recently led efforts to stem the crisis that has engulfed the emirate as its real estate market crashed and the global recession slowed other core elements of the economy, from trade to tourism.

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