Abu Dhabi's department of finance has accelerated its review of public spending by government entities in recent weeks, three sources said, a move likely to mean more changes to top management at state-run companies.
At least nine Abu Dhabi-controlled companies have already seen top managers exit this year, including investment vehicle Mubadala and developer Aldar as the government seeks to manage its vast wealth more effectively. .
The sources said a plan to centralise fundraising and crack down on undisciplined issuance in the biggest of the seven United Arab Emirates (UAE), reported by Reuters in May, had gathered pace.
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