'Dubai Holding' unveils a major restructuring to cut costs amid crisis

[Naveed Yaseen]

DUBAI (February 16 2009): Dubai's biggest government-linked holding companies unveiled a major restructuring on Sunday, consolidating operations to cut costs as the global downturn hit at the core of the emirate's financial and property sectors.

Dubai Holding, owned by the ruler of Dubai and driver of many of the emirate's ambitious plans that have fallen on hard times, said it would restructure and merge operations at key property firms and other holding firms to reduce costs.

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