Adobe Systems Incorporated (Nasdaq:ADBE) recently reported record financial results for its first quarter ended March 3, 2006. The Company's Q1 results reflect the recent acquisition of Macromedia, and are compared to pre-acquisition results of prior fiscal periods. In the first quarter of fiscal 2006, Adobe achieved record revenue of $655.5 million, compared to $472.9 million reported for the first quarter of fiscal 2005 and $510.4 million reported in the fourth quarter of fiscal 2005. On a year over-year basis, this represents 39 percent revenue growth. Adobe's first quarter revenue target range was $630 to $660million.

Bruce R. Chizen, Adobe chief executive officer said that Adobe's business continues to perform well and is driven by the strong demand for their creative solutions and Acrobat. In addition to their strong financial results, Chizen added that the company is making rapid progress on integrating the Macromedia business and remained excited about their prospects for future growth.
 

Transparency and a clear business infrastructure are the most important foundations for doing business in the UAE, according to W. Jonathan Wride, Managing Director of Capital Partners FZ LLC, a real estate private equity fund.

Wride said that in the sectors of investment and real estate, the key factor is trust, whether speaking to investors or the end consumer. And in emerging financial markets such as Dubai , Wride added that the phrase caveat emptor (buyer beware) must never apply

Capital Partners is responsible for the single largest foreign direct investment (FDI) to Dubai , through the $1 billion iconic Riverwalk real estate development in Dubai Internet City . Riverwalk was the first freehold residential development to have been announced in the city, and the first by a Western company.
 

Emirates Building Systems (EBS), a subsidiary of Dubai Investments Industries, has signed a joint venture agreement with China Jingye Construction Engineering Contract Company (CJYC) for the construction of high-rise buildings, stadiums and aircraft hangars in the Middle East and North Africa region.

Present during the signing of the agreement were Shukri Al Muhairi, General Manager, Dubai Investments Industries, one of Dubai Investments' subsidiaries; Samir Akra, General Manager, Emirates Building Systems; and Lu Yijie, Vice President of China Jingye Construction Engineering Contract Company.

EBS and CJYC will work together throughout the contractual period of three years, and will cover United Arab Emirates , Sultanate of Oman, Kuwait , Saudi Arabia , Qatar , Bahrain , Iraq , Jordan , Syria , Lebanon , Turkey , Egypt , Libya , Morocco , Sudan , Iran , Yemen , Tunisia and Algeria .
 

Borouge 2 moves ahead with new contracts

Borouge's proposed major expansion (“Borouge 2”) of its petrochemical complex in Ruwais, Abu Dhabi has made further headway with the award of four contracts. The work for the Front End Engineering Design (FEED) for an Olefins Conversion Unit (OCU) was awarded to ABB Lummus Global Inc. It is to be executed by the ABB team in Houston (US). Work to start the FEED for the Polyolefin units was awarded to Fluor Mideast Ltd. It will be executed from Fluor's offices in Haarlem ( Holland ) and Greenville (US). A mandate was also awarded to MWH to carry out the study of Health, Safety & Environment Impact Assessments (HSEIA) for the facilities and the lenders, while Maersk Logistics was selected as Borouge's supply chain study consultant to advise on the supply chain concept for Borouge 2 products.