This trend can be mainly attributed to factors like the growing presence of high net-worth individuals and the UAE’s removal from the FATF’s grey list
realty3 hours ago
Paul Oliver, Vice-President of International Business Development Middle East and Africa at Boeing, so far the UAE and Qatar are the only countries in the region who have placed order for C-17 aircraft.
“The UAE made the order in December 2009 just after Dubai Air Show, and now we are in the process of delivering them. Qatar is another country in the region that has ordered two aircraft that have already been delivered and now operational,” he told reporters at IDEX 2011.
About F-18, Oliver said Kuwait was the only country that has 40 of the aircraft, while Saudi Arabia has 72 F-15s.
Oliver said the new maritime P-8 is also not available in the Middle East region. “India outside the US is the only country that has ordered eight P-8s and one has been delivered and now operational.
He said Boeing in June 2009 signed an agreement with the Government of India to provide eight P-8I long-range maritime reconnaissance and anti-submarine warfare aircraft to the Indian Navy. When asked about new deals, the Boeing official said: “There are no new deals. No deals at IDEX.”
About the company’s business portfolios, Oliver said Boeing was now a $64 billion company with commercial and defence businesses sharing 50-50 per cent stakes. He further said that defence business at Boeing has been doing very well compared to its commercial portfolio and expected to do better with the industry booming and market demand increasing. “The defence business is much stable now and maintains,” he said.
Oliver further added their defence revenues in 2010 were eight per cent of the total, amounting to $32 billion. “Our commercial business has been affected due to the recent global economic and financial crisis.”
He said the company was investing in further development of its products and leadership both at home and abroad.
“We have $15 billion investments in industrial participation in 17 countries around the world, including our Middle East partners like the UAE with the Mubadala and Masdar partnership. We also have investments in Saudi Arabia and other countries,” he added.
This trend can be mainly attributed to factors like the growing presence of high net-worth individuals and the UAE’s removal from the FATF’s grey list
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