Jeddah, November 30, 2002 ---- General Electric has appointed Abdullah Taibah as the Corporate Regional Executive for the Middle East region, including the GCC, Jordan, Syria and Lebanon. Taibah, based in Riyadh, Saudi Arabia will head Middle East operations, a promising market which accounts for business of US$1.6 billion earned from its eight diversified business groups.
Dubai, November 19, 2002 ---- General Electric considers the Middle East market a key contributor to its sustained growth and sees several exciting growth opportunities especially in the energy sector. The global major, whose volume of business in the Middle East is currently US$1.6 billion, operates across the region with full-fledged offices in the UAE and Saudi Arabia.
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Dubai, October 31, 2002 ---- General Electric has announced its third-quarter earnings of U.S.$4.1 billion, reflecting a growth of 25 percent over the third quarter 2001. The promising earnings, in addition to a 16 percent increase in cash flow from operations, "are a testament to the effectiveness of GE's key strategic initiatives and business model in promoting growth in all of our diversified businesses around the world, including the Middle East region," said Nabil Habayeb, National Executive, General Electric, Gulf.
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Dubai, October 24, 2002 ---- GE Power Systems (GEPS), a major exhibitor at the annual Power-Gen Middle East 2002 conference and exhibition, has unveiled its latest product technology for the region's power industry. GEPS showcased its broad range of energy solutions including models of its F Family of gas turbines, offering high efficiency and reliability.
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Dubai, September 25, 2002 ---- General Electric has announced the merge of its GE Appliances and GE Lighting businesses to form GE Consumer Products. The new scheme, which combines the two operations globally, is effective immediately and will be mutually beneficial for both businesses.
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Kuwait, September 19, 2002 ---- GE Aircraft Engines has won a contract to supply GE T700-701C helicopter engines to the Government of Kuwait. The new engines will power the government's new fleet of 16 Boeing AH-64D Apache Longbow attack helicopters.
The contract, valued at US$30 million, allows for the supply of 32 engines to be installed on the new fleet of helicopters, as well as four spares. The T700-701C powers the latest AH-64A/D Apaches and H-60 Black Hawk variants.
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Dubai, July 31, 2002 ---- GE's second-quarter earnings of $4.426 billion, a 14% rise over second quarter 2001 and the highest growth in any quarter in the Company's history, "demonstrate that our key strategic initiatives and business model have successfully steered growth in all of our businesses around the world, including the Middle East," said Nabil Habayeb, National Executive, General Electric, Gulf.
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Dubai, UAE, July 2, 2002 ---- GE Power Systems, the energy services business of General Electric, has today signed two Contractual Service Agreements with Ras Laffan Liquefied Natural Gas Company Ltd. (RLLNG) and Ras Laffan Liquefied Natural Gas Company Ltd. II (RLLNGII) in Qatar.
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Riyadh, KSA, June 11, 2002 ---- Arab National Bank (ANB), a leading Saudi commercial bank, has chosen GE Global eXchange Services (GXS), a leader in business-to-business internet commerce, to provide the software and services for a major e-business initiative.
The bank will use GXS's Saudi*Tradanet, an electronic transaction engine, and GXS's Application Integrator, a mapping and translation tool, to provide seamless exchange of information between ANB and its 17 correspondent banks in Asia and the Middle East.