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Abu Dhabi
By Micheal Fernandez Published: 07/12/2009
Abu Dhabi (Arabic: أبو ظبي‎ Abū ẓabī, literally Father of gazelle)
It is the capital and the second largest city in the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western coast. The city proper, making up an area of 67,340 km˛, has an estimated population of 860,000 in 2007.
It is the seat of government of the emirate of Abu Dhabi, which is ruled by Khalifa bin Zayed Al Nahyan – the current ruling Emir of the UAE. Abu Dhabi is the third most expensive city in the region, and 26th most expensive city in the world.
Abu Dhabi has grown to be a cosmopolitan metropolis. Its rapid development and urbanisation, along with high average income of its population, has transformed Abu Dhabi. Today the city is the country's center of political,industrial activities, and a major cultural, and commercial centre due to its position as the capital. Abu Dhabi alone generates 55% of the GDP of the United Arab Emirates. Abu Dhabi is home to important financial institutions such as the, the Abu Dhabi Securities Exchange, the Central Bank of the United Arab Emirates and the corporate headquarters of many companies and numerous multinational corporations. One of the world's largest producers of oil, Abu Dhabi has actively attempted to diversify its economy in recent years through investments in financial services and tourism. Abu Dhabi holds 9% of the world’s proven oil reserves and almost 5% of the world’s natural gas, the UAE’s large hydrocarbon wealth gives it one of the highest GDP per capitas in the world. Abu Dhabi has a diverse and multicultural society. It is home to a number of cultural institutions including the Cultural Foundation and the National Theater.
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