Sheikh Mohammed Bin Zayed Al Nahyan brother of late Sheikha Khalifa Bin Zayed was appointed President of UAE. Crown prince of Abudhabi since 2004 he would be in control of worlds fourth richest wealth fund and about 6% of proven reserves of crude oil. He has always helped build UAE's image as socially liberal pro business economy. He is commended for having supported pathbreaking and progressive business policies.