Shakeup in Dubai Inc

Dr. Omar Sulayman is out at DIFC.

He is therefore out at Investment Corporation of Dubai ("ICD").

As are the following also out at ICD:

1. Mohammed Gergawi at Dubai Holding  (He just gave a speech this week at World Economic Forum Global Agenda Meeting in Dubai, which was optimistic to put it mildly).
   
2. Sultan Sulayem at Dubai World
3. Mohammed Al Abbar at Emaar

FT analysis here.  Khaleej Times here.

I think there are three motives:

1. Despite the "humming" you're told you can or should hear from Dubai, the financial situation is not good.
2. "New faces" to put in front of the bankers.   Sober new faces not associated with the old policy.  Guys who are going to use both sides of the Xerox paper.
   
3. Cover for Dubai Inc.  Those responsible have been dealt with.