Monthly Newsletter February 2009
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Upcoming Events

Ambassador Series:

February 25, 2009
Egypt: The Ambassador’s Perspective
A Conversation with His Excellency Sameh Shoukry
Sponsors: Apache, Chevron, and Energy Allied


Bilateral Model Arab League Conference:

February 6-8, 2009
Keynote speech by Ambassador Clovis Maksoud, JD
University of St. Thomas



Event Highlights

Ambassador Series: Luncheon with the Ambassador of Bahrain to the US

Her Excellency Houda Ezra Nonoo, Ambassador of the Kingdom of Bahrain to the United States highlighted the impact on bilateral trade that the FTA agreement has had for US and Bahraini companies to members of BUSACC. Ambassador Nonoo also took some time to meet with the Bahrain Team from the University of Houston and answer their questions.

Ambassador Houda Ezra Nonoo and Trade Representative Ms. Rose Sager from the Kingdom of Bahrain with students from the University of Houston representing Team Bahrain in this year’s Model Arab League Conference.


Ambassador Series: Luncheon with the Ambassador of Libya to the US

The Bilateral US-Arab Chamber of Commerce was pleased to host a Luncheon featuring His Excellency Ali Aujali Ambassador of Libya to the United States last month for the Houston business community. Following four years of service as the Charge d Affaires of the Peoples Bureau, Ali Aujali was named Ambassador of Libya in January 2009. This visit to Houston comes after official normalization of relations between the US and Libya.

Sponsors of the event included AECOM, Fluor, Chevron, ExxonMobil, Marathon Oil Corporation, ScotiaWaterous and Schlumberger. Ambassador Aujali met with sponsors in a VIP reception prior to the luncheon. Click here to view an exclusive interview with the Ambassador on his CNBC Live Interview in Houston.

Ambassador Ali Aujali with Chairman of BUSACC, Mr. Dave Philips



Member Spotlight

Fluor

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Construction and Real Estate
N. Emirates: Resilient real estate
NoozzVIEW; Bahrain reassures on key projects
Egypt's OCI wins joint venture contract in Qatar
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Economy
Fitch forecasts tough year for Gulf banks
Gulf economies dwindle to US$923.6 billion in 2009
India, Gulf working on multi-faceted cooperation
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Energy
NoozzVIEW; Qatar to host gas group
Eni, Nippon Oil, Repsol compete for Iraq oil contract
UAE fund to invest in Japan renewable energy firms
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Finance
Dubai fund may sell Barneys New York
Moody's: Sukuk issuance slowdown mainly due to credit crisis, but Shari'ah compliance also an issue
Malaysia, Qatar to set up US$1 billion investment fund
  View all 10 articles
Industry
Dubai: Industry holding firm
Qatar: Industrious Emirate
Gulf plastic industries sector at US$5 billion
  View all 6 articles
Insurance
Riyad Bank to set up insurance firm, plans IPO
S & P: Long-term strengths mitigate short-term weaknesses in Qatari insurance market
RSA in Saudi start up
  View all 5 articles
Retail
NoozzVIEW; Al Jazeera makes news
Telecoms
Batelco in India
Gulf's Batelco to buy 49 pct of India's S Tel
MENA's ICT growth to decrease by 5 per cent in 2009
  View all 5 articles
Tourism
NoozzVIEW; Eden travels to UAE
Oman's new national brand mark to be launched
Qatar targets 400 pct rise in hotel capacity
Transport
Bahrain: Building bridges
Bahrain carrier has fleet plan to narrow gulf with its rivals
Middle East shipping to ride out the storm
  View all 6 articles
Utilities
Ministry, GE sign power deal
Saudi cable firm wins US$356 million Qatari order
Arab leaders agree to speed up electricity, railway linkage projects
  View all 5 articles

Focus on North Africa

Update on Algeria

Douglas Wallace, Senior Commercial Officer, U.S. Embassy - Algiers, Algeria

Sonelgaz 30 billion investment plan 2009-2017: The Algerian Gas and Electricity Regulatory Commission announced recently that Algeria will increase its investments in power generation by around 7,000 Megawatts to meet the local demand by 2017.

Sonatrach: a new $45 billion investment plan 2009-2012: The Executive Council of Sonatrach approved the $45 billion investment plan.

Solar Power: Algeria aims to develop its own solar energy industry with a goal of producing 1,200 megawatts of solar power by 2015. The country is currently looking for foreign investors and technologies to speed up adoption of alternative sources of power.

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