Dubai's ruler orders management shake-up after absences
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice-President of the United Arab Emirates and ruler of Dubai, attends the Summit of South American-Arab Countries, in Riyadh November 10, 2015. REUTERS/Faisal Al Nasser
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
DUBAI (Reuters) - Dubai's ruler has ordered a shake-up of the city state's management, including the retirement of nine senior officials, a day after he conducted a surprise spot check of government offices and found a significant number of employees absent.
Governments around the Gulf are trying to make their bureaucracies more efficient as low oil prices pressure state finances, and the move by Sheikh Mohammed bin Rashid al-Maktoum is one of the most dramatic efforts in that direction so far.
Sheikh Mohammed ordered the retirement on Monday of nine members of Dubai Municipality's executive management, including directors and assistant director-generals in departments such as legal affairs and planning, the United Arab Emirates' state news agency WAM reported.
On Sunday, his government posted online a video of him making an unannounced visit to a government office and finding it empty, an exercise which a Dubai media official said was intended to "send a message".
On Monday, Sheikh Mohammed thanked the nine retired officials for their service but said he wanted to allow a new generation of young leaders to take control and provide top-quality services to the public, WAM reported.
(Reporting by Andrew Torchia; Editing by Alison Williams)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Amazon's quarterly profit misses estimates, shares tumble
- French judge to investigate disappearance of Franco-Syrians in Syria
- New Jersey man pleads guilty to charge in Rutgers cyber bullying case
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!