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Falling Oil Prices Push Emirates to Consider Selling Assets

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NEW YORK (TheStreet) -- According to reports, Abu Dhabi is exploring selling assets and making strategic partnerships for the United Arab Emirates as the slump in oil prices continues to dent income.

Saudi Arabia is also pushing to diversify the country's economy and is reported to be issuing a $5 billion bond sale over the coming weeks. Kuwait's sovereign fund has suggested an asset sale to cover its increasing deficit.

"The spending patterns that a lot of national oil companies have pursued in the Middle East over the last decade were contingent on oil being much higher than it's going to be," said Stuart Glickman, analyst at S&P Capital IQ. "I think there's a realization now...


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