The German Siemens Company signed a memorandum of understanding with the Dubai Internet City (DIC) to relocate all of its regional operations and activities to the region, reported Al-Hayat . This is one of the largest deals signed by the DIC. The Siemens Company will relocate its operations into a $13 million building during the first half of 2002. Sources at Siemens estimate the company’s sales in the Middle East at more than one billion euros ($874 million), of which 350 million euros will be generated in the Arabian Gulf states. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
