UNITED ARAB EMIRATES US Report On The
Middle EastBoeing wins $2.8 billion to provide Emirates with 10 747-8 Freighters
Monday, 9 October 2006
Boeing and Emirates have finalized today an order for 10 747-8 Freighters during an official ceremony held at Dubai's Department of Civil Aviation. The ceremonial signing was made by Emirates chairman and CEO Shaikh Ahmed bin Saeed al-Maktoum, and Boeing's Dubai-based sales director Ken Schulz.
The 10 747-8 Freighters are valued at $2.8 billion at list prices and were previously attributed to an unidentified customer on Boeing's Orders & Deliveries website. Emirates SkyCargo will receive its first delivery of Boeing's latest heavy freighter in 2010.Raytheon wins a $20 million contract to provide the AutoTrac III air traffic management system to the UAE
Thursday, 5 October 2006
Raytheon Company has been awarded a $20 million contract to provide the AutoTrac III air
traffic management system to the United Arab Emirates.
The 22-month contract with the General Civil Aviation Authority (GCAA) of the United Arab Emirates (UAE) will provide the installation of AutoTrac III in the new Shaikh Zayed Air
Traffic Center, Raha Beach, Abu Dhabi.
The AutoTrac III provides the software and hardware to ensure the safety of 16 airspace sectors in the Area Control Center, and 10 sectors in the Emergency Area Control Center, and can easily expand to accommodate anticipated growth in air traffic during the next 20 years.Halliburton wins $70 million in contracts to support exploration, production activities in the onshore fields of Abu Dhabi
Tuesday, 5 September 2006
The Abu Dhabi Company for Onshore Oil Production (ADCO) has awarded Halliburton contracts valued at more than $70 million for cementing services, stimulation services and special tools.
Under the three-year agreement, Halliburton will provide optimum solutions to ongoing ADCO exploration and production activities located in the onshore fields of Abu Dhabi, United Arab Emirates.Boeing wins a $10 billion Emirates order for 42 Boeing 777 airplanes
Sunday, 20 November 2005
The Boeing Company and Emirates have announced today they have concluded contract negotiations for a firm order for 42 Boeing 777 airplanes with purchase rights for 20 additional airplanes. The deal was announced by Emirates Chairman Shaikh Ahmed bin Saeed al-Maktoum at the Dubai Air Show and is valued at $9.7 billion at list prices.
Emirates' order is for 24 Boeing 777-300ERs, 10 777-200LR Worldliners and 8 777 Freighters.
When first current orders are delivered by late 2007, Emirates fleet will include 51 Boeing 777s. This new order for 42 Boeing 777s will see the airline becoming the largest Boeing 777 operator in the world.Istithmar of the UAE closes on the $705 million acquisition of 230 Park Avenue in Manhattan in New York City
Thursday, 10 November 2005
Istithmar PJSC, a leading investment house based in the United Arab Emirates (UAE), focusing on private equity, real estate and alternative investments, has announced today that it has closed on the acquisition of another internationally recognized landmark property, 230 Park Avenue (the Helmsley Building) in Manhattan. The property was purchased for $705 million from 230 Park Avenue Investors, LLC, of which Robert M. Bass of Fort Worth, Texas is a lead investor. The purchase of the New York City trophy property follows on the heels of Istithmar’s acquisition of London, the UK’s One Trafalgar Square last month.
230 Park Avenue is a 34-story gold-domed office tower, in excess of 1.2 million square feet straddling Park Avenue at 45th Street. Built in 1929, 230 Park Avenue is one of two buildings that combine a direct connection to Grand Central Terminal with the prestige of a Park Avenue address.
Istithmar’s Executive Chairman Sultan Ahmed Bin Sulayem commented, “We believe 230 Park Avenue is an irreplaceable prime property in the world’s largest real estate market. This particular investment represents the perfect fit for us as we continue to add outstanding assets to our expanding international real estate portfolio.”
“The Jewel of Park Avenue,” as it is often referred to, is surrounded by many of New York’s finest hotels, restaurants and social clubs. Many multinational corporations have also made Park Avenue the hub of their global operations. 230 Park Avenue is a particularly attractive corporate location as evidenced by its impressive roster of tenants including ING Baring, Tokio Marine, HSH Nordbank, Bank of Argentina, and PB Capital.
Financing for the acquisition of 230 Park Avenue is being provided by Credit Suisse First Boston. Istithmar is being advised on the transaction by Island Capital, a real estate focused firm headed by Andrew L. Farkas.Moody's assigns A1 long-term, Prime-1 short-term foreign currency deposit ratings and a D+ financial strength rating to National Bank of Dubai
Monday, 7 November 2005
Moody's rating agency has assigned A1 long-term and Prime-1 short-term foreign currency deposit ratings and a D+ financial strength rating (FSR) to National Bank of Dubai PJSC (NBD) (United Arab Emirates). The outlook for the ratings is stable.
NBD, headquartered in Dubai with end-2004 total assets of approximately $10.9 billion, is the largest bank in Dubai and the second-largest overall in the UAE. It operates a network of over 30 branches in the UAE, with the majority located in Dubai. Internationally, the bank has branches in London and Jersey; servicing UAE corporations and individuals; as well as offering private banking services to wealthy clients; and a representative office in Iran.Caltex of the UAE wins an $18 million contract to receive, store, protect, and ship F76, JP5
Tuesday, 1 November 2005
Caltex Alkhalij, Dubai, the United Arab Emirates (UAE), is being awarded a maximum $17,946,754 firm fixed price contract for facilities and services to receive, store, protect, and ship F76 and JP5. The other location of performance is Fujairah, the UAE. Using services are U.S. Army, Navy, and Air Force. Performance completion date is 31 October 2010. The contracting activity is the Defense Supply Center Philadelphia, Philadelphia, Pennsylvania.U.S. exports into the United Arab Republic went up to $4 billion in the first half of this year from $2 billion in the same period of 2004 -- U.S. Census Bureau
Thursday, 11 August 2005
U.S. exports into the United Arab Republic (UAE) went up to $3,772.1 million in the first half of this year from $1,717.5 million in the same period of 2004, according to U.S. Census Bureau.
U.S. imports from the UAE also went up to 608 million from $461.7 million.Moody's assigns Aa3 rating to Abu Dhabi Commercial Bank's debt, upgrades the Bank's financial strength to D
Tuesday, 14 June 2005
Moody's rating agency has assigned Aa3 rating to the United Arab Emirates (UAE's) Abu Dhabi Commercial Bank's forthcoming senior debt issued under EMTN program.
Moody's upgraded the Bank's financial strength to D.Preston wins a contract to conduct a computer simulation study of Dubai International Airport
Tuesday, 17 May 2005
Preston Aviation Solutions Pty Ltd, a subsidiary of The Boeing Company, has been awarded a contract by the Dubai Department of Civil Aviation (DCA) to conduct a computer simulation study of Dubai International Airport (DIA).
The simulation study will provide DCA and the airport's stakeholders with a reliable mechanism to visualize, analyze and minimize risk in the future expansion of the airport. The study, carried out by Preston's Melbourne-based consulting team, will be executed in five key phases and will cover transitional operations during the Phase II expansion program, the latest Master Plan design, as well as current airport operations.
DIA, the Middle East's premier and busiest airport, handles over 20 million passengers and 195,000 aircraft movements per year. To support the growth of the airport, Dubai 's Department of Civil Aviation (DCA) is currently undertaking a $4.1 billion Phase II airport expansion project, which is due for completion in 2007.Moody's upgrades United Arab Emirates's (UAE) rating to A1/P-1
Tuesday, 21 December 2004
Moody's rating agency has upgraded the United Arab Emirates (UAE) to A1/P-1.
On 16 April 2003, Moody's said, UAE stable A2 rating is based on strong economic and financial fundamentals.Boeing wins a $1 billion Etihad Airways order for five Boeing 777-300ER
Friday, 17 December 2004
Boeing and Etihad Airways have confirmed today the airline's definitive order for five Boeing 777-300ER (Extended Range) airplanes valued at $1.09 billion at list price.
In operation for just over a year, the airline will receive the airplanes in 2005, with the first delivery scheduled for October followed by two each in November and December.Bechtel wins $1.5 billion OGD III Gas Expansion Project in the UAE
Friday, 3 December 2004
Abu Dhabi Gas Industries Company (GASCO), the onshore gas-processing subsidiary of Abu Dhabi National Oil Company (ADNOC), has awarded Bechtel the $1.5 billion Onshore Gas Development (OGD) III project to expand production of the oil and gas field in Habshan, Abu Dhabi, the United Arab Emirates (UAE).
The project will run from December 2004 to April 2008, and the scope of work covers engineering, procurement, and construction (EPC) and commissioning.The US mourns the passing of Shaikh Zayed the founder, 30-years President of the UAE a prosperous, tolerant, and well-governed state -- President Bush
Thursday, 4 November 2004
"The United States mourns the passing of a great friend of our country, Shaikh Zayed ben Sultan al Nahayan of the United Arab Emirates," declared a statement by President George W. Bush. "Shaikh Zayed was the founder and President of the UAE for more than 30 years, a pioneer, an elder statesman, and a close ally. He and his fellow rulers of the seven Emirates built their federation into a prosperous, tolerant, and well-governed state."
President Bush added, "I offer my condolences and those of the American people to the family of Shaikh Zayed and to the government and people of the United Arab Emirates on their great loss."Shaikh Zayed, a symbol of benevolent, wise leadership passes away -- Secretary Powell
Tuesday, 2 November 2004
"I was saddened to learn of the passing today of Shaikh Zayed [ben Sultan al-Nahyan], President and Founder of the United Arab Emirates," said Secretary of State Colin L. Powell, "whose vision and leadership united seven independent emirates into one nation."
Secretry Powell added, "Shaikh Zayed was a friend. He stood both at home and abroad as a symbol of benevolent and wise leadership characterized by generosity, tolerance, and avid pursuit of development and modernization. We will miss Shaikh Zayed’s friendship and send our deepest sympathy to his family, friends, and the people of the United Arab Emirates."Boeing wins a $3 billion contract to provide Emirates with 13 Boeing 777
Monday, 19 July 2004
The Boeing Company and Emirates have announced today that the Dubai-based airline will order up to 13 Boeing 777-300ER (Extended Range) airplanes valued at $2.96 billion dollars at list price.
Four of the airplanes are on firm order and will be delivered during 2006. The rest are covered by purchase rights that extend through 2012.IFC invests $27 million in Ras Al Khaimah Ceramics of the UAE to help finance expansion projects in Iran, India
Thursday, 1 July 2004
The International Finance Corporation (IFC) has announced today two separate agreements to invest a total of $27 million in Ras Al Khaimah Ceramics of the United Arab Emirates (UAE) to help finance expansion projects in Iran and India.
RAK Ceramics is one of the largest and most successful ceramic tiles and sanitary ware manufacturers in the world. In February 2002, IFC provided $12 million to RAK-UAE's subsidiary in Bangladesh for setting up a sanitary ware production facility and expanding its tiles line.Emirates wins a $15 million contract to secure the necessary facilities, services for petroleum product for U.S. forces
Thursday, 10 June 2004
Emirates National Oil Co. Ltd., Dubai, United Arab Emirates, is being awarded a $15,000,000 firm fixed price type of contract for securing the necessary facilities and services for bulk petroleum product for the Army, Navy, Air Force and Marine Corps.
Performance completion date is expected to be May 2005. The contracting activity is the Defense Energy Support Center, Fort Belvoir, Virginia.Petroplus wins a $14 million contract for unleaded gasoline in support of Task Force RIO
Wednesday, 5 May 2004
Petroplus International Marketing, Dubai, U.A.E., is being awarded a $14,003,062 fixed price with economic price adjustment type of contract for unleaded gasoline in support of Task Force RIO. TF RIO (Restore Iraqi Oil) is composed of the Corps of Engineers and Kellogg Brown & Root, Houston, Texas, with the mission of putting the oil industry back on its feet.
Work will also be performed in Iraq. Performance completion date is expected to be 30 September 2004. The contracting activity is the Defense Energy Support Center, Fort Belvoir, Virginia.Our cooperation with the U.S. is very close, it's outstanding, both regarding Iraq, in Afghanistan -- Minister Shaikh Hamdan ben Zayed
Monday 27 October 2003
"We believe that our cooperation is very close and it's outstanding, both regarding Iraq and in Afghanistan," said United Arab Emirates Deputy Prime Minister and Minister of State for Foreign Affairs Shaikh Hamdan ben Zayed al-Nahyan in remarks with Secretary of State Colin L. Powell.
"The cooperation and the coordination will continue. We are very proud of both and of this relationship, and we hope that the cooperation will reach the level that is desired by the leadership on both sides.Moody's upgrades National Bank of Abu Dhabi's financial strength rating to C from C-
Monday, 1 September 2003
Moody's rating agency has upgraded National Bank of Abu Dhabi's (United Arab Emirates) financial strength rating to C from C-.
On 26 March 1996, Moody's assigned bank financial strength rating of D+ to National Bank of Abu Dhabi.Lockheed wins a $64 million contract to provide to UAE F-16
Wednesday, 16 April 2003
Lockheed Martin Corp. Missiles and Fire Control Systems, Orlando, Florida, is being awarded a $63,799,243 firm fixed price contract to provide 3,854 Production Phase, Wind Corrected Munitions Dispensers, Tail Kits 3,550 U.S. Government tail kits and 304 foreign military sales tale kits. This effort will support United Arab Emirate's (UAE) F-16 and B-52 aircrafts.
This effort will be performed at Lockheed Martin, Orlando, Florida, (75%) and Lockheed Martin Assembly Services, Americus, Gal., (25%). This work will be completed by May 2005. The Air Armament Center, Eglin Air Force Base, Florida, is the contracting activity.McDonnell wins a $12 million contract modification to provide Joint Direct Attack Munitions (JDAM) Guided Vehicles for the UAE, Oman, Denmark and Korea
Tuesday, 18 March 2003
The McDonnell Douglas Corp., a wholly owned subsidiary of the Boeing Co., Berkeley, Minnesota, is being awarded a $11,640,000 firm fixed-price contract modification to provide Joint Direct Attack Munitions (JDAM) Guided Vehicles for the following Foreign Military Sales countries: Denmark-245 each, the United Arab Emirates (UAE)-202 each, Oman-84 each, and Korea-14 each.
The JDAM weapon system provides for the Air Force and the Navy with an improved aerial delivery capability for existing bombs. The JDAM is a strap-on kit with Inertial Navigation System/Global Positioning System capability. The locations of performance are: McDonnell Douglas Corp., Berkeley, Minnesota (69%); Honeywell Inc., Military Avionics Division, Minneapolis, Minnesota (31%).
This work will be complete by November 2005. The Air Armament Center, Eglin Air Force Base, Florida, is the contracting activity.Seven Seas of Dubai wins a $59 million contract for emergency food supply in support of Operation Enduring Freedom
Friday, 14 March 2003
Seven Seas Shipchandlers LLC*, Dubai, the United Arab Emirates, is being awarded a $59,000,000 firm-fixed-price with indefinite-delivery type of contract for emergency food supply acquisition in direct support of Operation Enduring Freedom for the U.S. Army, U.S. Navy, U.S. Air Force and U.S. Marine Corps.
This requirement represents three months of demand until second option can be invoked. Performance completion date is expected to be 31 March 2003. The Defense Supply Center, Philadelphia, Pennsylvania is the contracting activity.
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