| Silicon Valley / San Jose Business Journal – January 21, 2008 http://sanjose.bizjournals.com/sanjose/stories/2008/01/21/daily7.html |
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Monday, January 21, 2008 – 9:38 AM PST
Cisco to pump $1.6B into UAE operations
Silicon Valley / San Jose Business Journal
Cisco Systems Inc. said Monday that it plans to invest $1.6 billion in the United Arab Emirates over the next five years, creating 650 new jobs by the end of 2010.
The networking giant said the investment includes the opening of offices in Dubai and Abu Dhabi. Cisco also will spend $400 million in the area through its Cisco Systems Capital Corp., a financing subsidiary.
San Jose-based Cisco (NASDAQ:CSCO) said the funding will take place through third-party banking partners and “through the potential establishment of a financial services company in Dubai.”
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