On Sunday, Halliburton Company, the largest military contractor in Iraq announced that it will be moving its headquarters along with its CEO from Houston to Dubai.
<- click on the pic. to see Halliburton!
Why are they doing this?In 2006, over one third or 38 percent of Halliburton's $13 billion oil revenue was generated in the eastern hemisphere, which indicates that the company already does a lot of business in the Middle East. Dubai is the gateway to Middle East oil and many countries have already poured money into there. The Chinese government and corporations have been investing and developing in Dubai and clearly Halliburton wants a bigger piece of that pie.
In addition, with the tax benefits, Halliburton and more companies will look to relocate to Dubai; that could be why Dubai is only now getting off the starting blocks...
No comments:
Post a Comment