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I know Crystal is excited - Gulf News:

US doughnut and coffee chain Krispy Kreme will open its first UAE outlet in the Deira City Centre shopping mall tomorrow, the first of seven stores planned for the country this year.

The North-Carolina-based food company, which is listed on the New York Stock Exchange, aims to roll out 100 stores throughout the Middle East in the next five years.

The move follows a regionwide partnership agreement with Kuwait-based Americana Group, which owns franchise rights to fast food chains KFC, Pizza Hut, Hardee’s and TGI Friday’s.

Krispy Kreme has been operational in Kuwait since fourth quarter 2006, where sales hit approximately Dh31,700 in the first three months - a benchmark for the Dubai store, according to Americana Group officials.

However, retail analysts say the chain might struggle to take UAE market share from competitors Dunkin’ Donuts and Starbucks unless it perfects its business model.

“I think the market will absorb the brand and there is undoubtedly available capacity with all the retail space coming up, but they didn’t really penetrate the sophisticated UK retail market, which is a concern,” said an industry analyst.

Well known for its traditional glazed doughnuts, Krispy Kreme enjoyed wild success in the US following its IPO in 2000.

However, analysts say the company expanded its store count too quickly, leading to several bank-ruptcies among its franchise partners and numerous store closures. It was also hit by an inquiry into its accounting practices.

Domestic issues did not seem to hamper the company’s international expansion. By the end of 2007, overseas outlets will represent almost 50 per cent of its 400 store global presence, the company said.

Ayman Wagdi, chief marketing officer at Americana Group, said the company will take Krispy Kreme into the UAE, Saudi Arabia, Qatar and Bahrain this year, with a view to expanding into other Middle East countries in 2008.

Jim Rogers, director for international marketing at Krispy Kreme, said the company has high hopes of its latest Middle East venture.

“We think this is going to be one of the best openings we’ve had around the world. We would certainly liked to have been in the UAE sooner,” he said.

In case you have not heard Halliburton will move it’s corporate headquarters to Dubai. That got me wondering, a couple of weeks ago Emirates Airline annouced that it was going to start flying to and from Houston, and I asked myself then why Houston, now I think we may have our answer. :-) Read more at CNN International.

Halliburton Co., the U.S. oilfield service giant, said on Sunday it will move its corporate headquarters and its chief executive officer to Dubai in the United Arab Emirates in an effort to expand business in the Eastern Hemisphere.

Halliburton chief executive David Lesar said Halliburton was considering listing its shares on one of the Middle East bourses. It is currently listed on the New York Stock Exchange.

“My office will be in Dubai, and I will run our entire worldwide operations from that office,” Lesar said at an energy conference in Bahrain. “Dubai is a great business center.”

Halliburton, which was led by Vice President Dick Cheney from 1995-2000, did not specify what, if any, tax or political implications the move might entail.

Halliburton has long been involved in the Middle East.

KBR Inc., the engineering and military-services contractor unit that Halliburton is in the process of splitting off, is the Pentagon’s largest contractor in Iraq.

KBR has so far booked more than $20 billion in revenues from its work in Iraq and has been the target of several investigations into the company’s billing practices. It has also faced complaints from some U.S. lawmakers about the company’s close ties to the Bush administration.

Halliburton said it would maintain its legal registration in the United States and was not leaving Houston, where it was currently based.

But Lesar told reporters: “At this point in time we clearly see there are greater opportunities in the Eastern Hemisphere than the Western Hemisphere.”

An analyst said the move made sense. “The company as a whole has continued to diversify internationally, and the Middle East is a point that they have targeted,” said William Sanchez, a U.S.-based analyst at Howard Weil Inc.

“They are being opportunistic in putting the CEO in the middle of the action.”

During 2006, more than 38 percent of Halliburton’s $13 billion in oil services revenue was generated in the Eastern Hemisphere.

Sanchez said he believed Halliburton’s move to Dubai was not tax related. Instead he viewed it as a strategic play.

Oil and gas service companies have raised prices for their services over the past two years as the sector strains to bring enough capacity on line to meet rapidly rising demand.

Many new supply projects are in the oil-producing countries of the Middle East, while Asia accounts for most of the rising demand.

In contrast, a slide in natural gas prices in the United States has prompted investor concerns that oil and gas companies might cut back on spending in North America.

Lesar also said he expected the price of oil to stay above $40 a barrel, providing good conditions for future investment in the oil and gas industry.

Alan Laws, an analyst at Merrill Lynch, said the move highlights the growing importance of national oil companies and said it would likely help Halliburton’s position in negotiating large contracts.

Halliburton’s shares closed up 29 cents at $32.02 on Friday.

It has been awhile since we have updated our blog, sorry guys. :-) Magnus and I have been busy with EmiratesMac (check-out our Special Event coming up) and other things. Not to say that this is more important, of course. LOL

Let’s see what is new here in the UAE??? Well one thing is that winter (if that is what you want to call it) is over, and spring is here, with summer right around the corner. Or temps during the day are about 30-35c (80-87F) and at night it is 20-25c (around 75F). So it will not be long before our 40c+ (100F+) days are back. That is when you only go outside in the morning and at night. LOL I remember when we first got here in August 2005, we could not understand why people would stay out all night and sleep all day, it did not take us too long to figure it out.

This is not UAE news, but this is Swedish news… The Olofsson family has a new family member, his name is Hjalmar and he is six months old. He is a beautiful Lab (even though I waiting for pictures) and they are so excited about him. I bet he is having so much fun playing in the snow, and the snow is probably bigger than he is. Dear Olofsson family we are excited for you and we hope you do not loose too many shoes or other things to his puppiness. LOL

Okay on to US news… MaMa (Crystal’s Grandma) had knee surgery and is doing really well, and we can only hope that the family is taking good care of her. :-) MaMa we hope you get well really soon.

Well I think that is all the news we have for now. We will try to do better at updating.Â