Chairman of Khaleej Times removed from his post
Abu Dhabi // Adel al Shirawi, the former Tamweel and Istithmar World executive under investigation by Dubai authorities for financial improprieties, has been removed from his position as chairman of the Khaleej Times, officials said. Galadari Brothers, the parent company of the Khaleej Times, announced that Hussain Ali Lootah would take over his position. Mr Lootah is the chief executive of Dubai Media Incorporated, a government-owned company that manages several television channels including Dubai One and Sama Dubai.
Mohammed al Shaibani, director general of the Ruler's Court and chief executive of the Investment Corporation of Dubai, did not mention Mr Shirawi in his statement. Instead, he praised Mr Lootah, saying he "represents a core group of UAE nationals, who have excelled in their professional careers and are ever willing to take up new challenges to help drive the development of significant initiatives in the country".
Two years ago the Investment Corporation of Dubai, an investment group owned by the Dubai Government, acquired a 30 per cent share of Galadari Brothers. Four of the seven boardmembers of the newspaper are employees of companies wholly owned by either Dubai Holdings - a private company of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai - or the Investment Corporation of Dubai.
Mr Shirawi could not be reached for comment. firstname.lastname@example.org
Published: September 22, 2008 04:00 AM