Abu Dhabi looks to privatisations to boost sluggish economy

Abu Dhabi looks to privatisations to boost sluggish economy:

"Abu Dhabi plans to accelerate the privatisation of several state companies and overhaul its national energy company as the oil-rich emirate attempts to revive sluggish growth. Mubadala, one of Abu Dhabi’s sovereign wealth funds, will sell a stake in Emirates Global Aluminium, one of the United Arab Emirates’ largest companies, through an initial public offering this year. “We believe any time now is the right time,” Khaldoon al-Mubarak, chief executive of Mubadala, told a conference in Abu Dhabi, the UAE’s capital. “This company is an engine, the UAE’s largest exporter outside of oil and gas, and one of our largest employers.”"



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