Dubai World's new chairman on Monday underscored the indebted state conglomerate's commitment to repaying its creditors as it retools its business.
Sheik Ahmed bin Saeed Al Maktoum made the comments during the first meeting of the company's new board, according to a statement from Dubai's media office. He was picked to lead the sprawling state conglomerate following a shakeup of the company's leadership last week.
"Sheik Ahmed emphasized adopting a strategy that aims at optimizing Dubai World's performance along with that of its related companies, and fortifying its financial position, which in turn will enable the company to meet its financial and contractual commitments," the statement said.
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