Monthly Newsletter May 2008
Flags
Scenes from the Trade Mission
Trade Mission
"It is difficult to find enough superlatives to describe my feelings about our just concluded trip to the Middle East with the Mayors' Delegation. Amazing, Uplifting, Unforgettable, Incredible, and the list could go on and on..."
Mark Herron, General Manager Four Seasons - Houston

Trade Mission
May Events

The Bilateral OTC Reception

Over 600 people attended the Bilateral US-Arab Chamber's (BUSACC) reception on May 5th to witness Aramco Services Company (ASC) receiving the 2008 Commercial Diplomacy Award, presented by David L. Phillips, Chairman of the Board BUSACC, to Brian MacBeth from ASC. Houston Mayor Bill White officially kicked off the event with welcome remarks. He talked about his own visit to the Arabian Gulf in April as leader of BUSACC's trade mission to the UAE and Qatar. He highlighted the long standing ties between Houston and the Arab world and commended the chamber for the work they do in fostering business and development between regions. 2008 is the 11th year the Bilateral has partnered with the US Commercial Service on the inbound trade mission attending the Offshore Technology Conference. There were 275 “official” delegates from Saudi Arabia, Kuwait, UAE, Qatar, Iraq, and Libya. The US Ambassador to Saudi Arabia, T.H. Ford Fracker, recognized Aida Araissi, Founder and Managing Director of BUSACC, with a plaque commemorating her work in bilateral business development.

In addition to the Arab delegations, there were energy executives from all over the world including Mayors and officials of energy producing cities and countries such as Stavanger, Norway, Dammam, Saudi Arabia, Trinidad & Tobago, Angola, and Iraq. Also present were executives from the national oil companies of Mexico, China, Nigeria and other city and state officials from Texas, Oklahoma, and Louisiana.

Bilateral US-Arab Chamber of Commerce Annual OTC Reception:
Annual OTC Reception
From Left to Right:
Deya Elyas, Aramco Services Company
David Phillips, Bilateral US-Arab Chamber of Commerce
Brian MacBeth, Aramco Services Company
T.H. Bill White, Mayor of the City of Houston

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News
Construction and Real Estate
  Saudi prince promises £5bn desert spire will be double the size of its nearest rival
  Work on sports city leaps ahead
  Emaar Properties signs MoU with Shanghai China-News Enterprise Development Ltd
  View all 12 articles
Defence & Security
  Bahrain signs security deal with NATO
  News Analysis: Saudi defence spending to remain ‘buoyant’
  News Analysis: Saudi defence tendering enters era of greater openness
  View all 5 articles
Economy
  Syria: Tying the trade knot with Baghdad
  UAE-India trade to hit US$25bn by 2009
  Executive Briefing: Egypt battles rising prices
  View all 11 articles
Energy
  Qatar: Sourcing gas to Europe
  Qatar to provide US$900m to finance Indonesian power plants
  GCC countries to invest an estimated US$120 billion over the next 10 years
  View all 14 articles
Finance
  Joint ventures in the Gulf States
  Saudi Swiss Securities licensed for investment banking
  UAE, Libya embrace US$4bn new joint investments
  View all 11 articles
Industry
  Oman: Targeting aluminium
  UAE's RAK Minerals buys Armenian firm for US$200m
  Sabic ends talks with Osos on US$1bn Yanbu project
  View all 5 articles
Media
  Advertisers need to show more creativity
  UAE ad spend to hit US$2 billion by 2010
  Bahrain readying new broadcast media law
  View all 4 articles
Telecoms and ITC
  MEA lags behind developed world in broadband adoption
  Oman to open doors of telecom market wider Gulf News
  UAE telecom giant studies strategies to enter Indian market
  View all 6 articles
Transport
  Boom time in Bahrain
  Asciano scores lucrative Saudi rail contract
  BAC gets go-ahead for BD300m expansion
  View all 8 articles
Utilities
  Iraq pours billions into dam construction programme
  German firm wins waste plant contract
  Saudi water plan to cost US$60bn
  View all 5 articles
Retail
  H&M to open in Cairo
  Kraft opens US$40m food plant
  GAC consolidates Gulf role with M&S renewal
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