The ruler of Dubai's decision this week to put trusted players in charge of debt-ridden conglomerate Dubai World suggests new resolve to reestablish the tarnished brand name of the freewheeling emirate.
Sheikh Mohammed bin Rashid al-Maktoum, head of the local ruling dynasty and vice-president of the United Arab Emirates federation, appointed his uncle, Emirates Airlines chief Sheikh Ahmed bin Saeed al-Maktoum, to head Dubai World's board.
Emirates Airlines is one of Dubai's business success stories and Sheikh Ahmed comes to tackle Dubai World -- preparing to sell assets to repay $25 million in debt -- after he spearheaded Dubai's initial attempt to recover from last year's crippling debt crisis as head of Dubai's Supreme Fiscal Committee (SFC).
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