Jan 9, 2008 0
Mar 11, 2007 0
Halliburton Co. moving to Dubai
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.
Dec 29, 2006 0
John Edwards for President in 2008
If you have been in the US yesterday or today, you probably heard about John Edwards announcing that he is running for president in 2008. What a lot of people do not know (unless you read other blogs) is that Edwards has invited some well-known bloggers to travel with him this week. It seems that Edwards is trying something new, in that he is trying to get to the grassroots and where at of people get their news, blogs.
We will just have to wait to see how Edwards does, but I think it is neat that he is going about it this way. You know all bloggers are, Time’s person of the year. LOL
Dec 21, 2006 0
IKEA is Green
This post has nothing to do with anything UAE related, Sweden (other than it is a Swedish company, or the US.
This has to do with a company called IKEA and what they are doing for their employees in the UK. It seems that the company has decided to give every employee a folding bike, that they can ride to work, and if that was not enough they are giving every employee a 15 per cent subsidised travel tickets to encourage them to use public transportation.
These gifts where given to the employees at their annual Christmas Breakfast.
Now I think this is a wonderful gift, it will not only help their employees, but will help us all. Hopefully this will help our environment as well.
What I notice here in the UAE is that IKEA is asking customers to bring in their old newspapers so that they can recycle them. For here that is a big thing, for any company to do, but it was nice to see IKEA try to do it.
You do not see much recycling here in the UAE, and I think that is sad. We should take care of places that we live, and make sure we leave it better than what we found it, a lesson for all of us. Read more at BikeBiz.com.
IKEA UK manager, Peter Hogsted, said:
“We want to create a better everyday life for the many, and do what we can to make greener living possible. This is both for our co-workers, as well as our millions of customers.
“The bike is a fun present but there is a serious message. We all have a responsibility to do what we can to protect the environment.”
The gift of folding bikes was welcomed by the Government’s environment minister Ben Bradshaw MP:
“As someone who does not own a car and has cycled to work for years, I am well aware of the environmental and health benefits of cycling. Most journeys by car are under five miles and could easily be done by bike. Folding bikes are a particularly good idea because they are easy to take on trains and buses.
“More companies should follow Ikea’s lead and encourage staff to cycle to and from work.”
Oct 28, 2006 0
Change your clock, oh wait not in the UAE
It seems that every one is turning back their clocks tonight, well not really every one, in the UAE we do not have the changing of the clocks. So for our family and friends in the US you are now 9 hours behind us, and our Swedish family and friends you are 3 hours behind us. That is of course until next spring, when it will change all over again.
Sep 23, 2006 0
Ramadan
Today starts Ramadan for the Muslims. This is a special time of blessing and becoming closer to God or Allah.
According to FactMonster.com
Ramadan is the ninth month of the Islamic calendar. Islam uses a lunar calendar—that is, each month begins with the sighting of the new moon. Because the lunar calendar is about 11 days shorter than the solar calendar used elsewhere, Islamic holidays “move” each year. In 2006 Ramadan will begin on Sept. 23.
For more than a billion Muslims around the world—including some 8 million in North America—Ramadan is a “month of blessing” marked by prayer, fasting, and charity. This year Ramadan precedes Christmas and Hanukkah. But while in many places these holidays have become widely commercialized, Ramadan retains its focus on self-sacrifice and devotion to Allah (God).
Why this Month?
Muslims believe that during the month of Ramadan, Allah revealed the first verses of the Qur’an, the holy book of Islam. Around 610 A.D., a caravan trader named Muhammad took to wandering the desert near Mecca (in today’s Saudi Arabia) while thinking about his faith. One night a voice called to him from the night sky. It was the angel Gabriel, who told Muhammad he had been chosen to receive the word of Allah. In the days that followed, Muhammad found himself speaking the verses that would be transcribed as the Qur’an.
At many mosques during Ramadan, about one thirtieth of the Qur’an is recited each night in prayers known as tarawih. In this way, by the end of the month the complete scripture will have been recited.
Fasting
Muslims practice sawm, or fasting, for the entire month of Ramadan. This means that they may eat or drink nothing, including water, while the sun shines. Fasting is one of the Five Pillars (duties) of Islam. As with other Islamic duties, all able Muslims take part in sawm from about age twelve.
During Ramadan in the Muslim world, most restaurants are closed during the daylight hours. Families get up early for suhoor, a meal eaten before the sun rises. After the sun sets, the fast is broken with a meal known as iftar. Iftar usually begins with dates and sweet drinks that provide a quick energy boost.
Fasting serves many purposes. While they are hungry and thirsty, Muslims are reminded of the suffering of the poor. Fasting is also an opportunity to practice self-control and to cleanse the body and mind. And in this most sacred month, fasting helps Muslims feel the peace that comes from spiritual devotion as well as kinship with fellow believers.
Eid al-Fitr
Ramadan ends with the festival of Eid al-Fitr, which in 2006 occurs on Oct. 24. Literally the “Festival of Breaking the Fast,” Eid al-Fitr is one of the two most important Islamic celebrations (the other occurs after the Hajj, or pilgrimage to Mecca). At Eid al-Fitr people dress in their finest clothes, adorn their homes with lights and decorations, give treats to children, and enjoy visits with friends and family.
A sense of generosity and gratitude colors these festivities. Although charity and good deeds are always important in Islam, they have special significance at the end of Ramadan. As the month draws to a close, Muslims are obligated to share their blessings by feeding the poor and making contributions to mosques.
Other links with information on Ramadan:
Ramadan.co.uk (a place for all information for Ramadan, they have ecards for Ramadan greetings and activities for the kids.)
Magnus and I hope that these links help with understanding of Ramadan. We also wish all Muslims a blessed Ramadan, Ramadan Kareem.
Sep 9, 2006 0
The most wired city in the US
You may ask yourself, what city in the US is the most wired, or you may not care. LOL Most people would probably think it was New York, LA, or San Francisco, but you would be wrong. :-)
Well in case you where wondering New York came in at number 12 and San Francisco came in at number four. The most wired city is the great southern city of Atlanta. Now whom would have thought a city in the South would out do the greats like San Francisco and New York. Well most southerners would say that the south will rise again, and maybe this is the way.
Oh and by the way the second most wired city is another southern city, Orlando.
Read more of Forbes.com’s survey of America’s most wired cities, at MSNBC
Aug 25, 2006 0
Emiraties and their Abaya
The Emirates Today has a story about Emiraties and their abayaes. The abayaes are black traditional Islamic dresses that women wear here, and while they are black many women have them with a design on the sleeves or on the back on abayaes. You can find some really beautiful designs on the abaya, and it is one way that women can show off their fashion. The article “The big Debate”, is an interesting one. How to stay true to your traditions, and still be in the modern world, where fashion is everywhere? Some designs of the new or more modern abayaes show every curve the woman has, and I am not sure that is the idea of the abaya. The abaya can cost 900dhs (about $245) to 8,000dhs (about $2,178), depending on the design. I am sure that this debate will go on, as women change and as fashion change.
The article is shows two Emiraties’ view points on the abayaes and is well worth the read. You can read it here and here.
Aug 9, 2005 0
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