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					        Page 1                                                           THE ECONOMIC OBSERVER



                                        BEBA’s monthly e-newsletter
                           THE ECONOMIC OBSERVER
                 Bringing you the latest news from the Egyptian and British Business Worlds

                                                                                             Issue 16
Investments in            1
     Inside this issue:                                            November 2009

Egypt
News from Egypt           2
                                                        Investments in Egypt

News from the U.K.        3     Net Foreign Direct Investment (FDI) was the main proof that the reform
                                                       Foreign Direct Investment


Did You Know?             4     measures undertaken by the government of Egypt were on the right
                                track. FDI showed unprecedented growth in the last five years.
BEBA’s October-           5
                                The global financial crisis has affected FDI flows across the globe.
Events
                                However, Egypt managed to attract FDI worth of USD 8.1 billion in FY
Forthcoming               6-8   2008/2009. It is worthy to mention that net FDI peaked in FY 2007/2008
Events                          at USD 13.2 billion. (Source: Ministry of Investment, 2009)
Regional & Global         9
News
An OECD-Event             10
An IMF-Report             10
Member News               10
Member-to Mem-            11
ber Benefits
 Newsletter Sponsors:




                                Source: Central Bank of Egypt, 2009


                                Minister of Petroleum, Sameh Fahmy said that several investment op-
                                      Fahmy: New Investment Opportunities in Oil, Natural Gas

                                portunities in oil and natural gas exploration in addition to petrochemical
                                industries are available. Egypt enjoys economic and political stability, two
                                major factors that lure foreign investments, he added.
                                Foreign direct investments (FDIs) in Egypt in oil exploration and extrac-
                                tion fields since 1980 hit $ 28 billion, Fahmy underlined. Some $ 20 bil-
                                lion new FDIs are expected according to the new development plan in oil
                                and natural gas fields, he added. (Read more)

                                Source: Arab Finance, 11th of October 2009

BEBA would like to              The Egyptian British Chamber of Commerce (EBCC) will be organizing
    ADVERTISE NOW!                         Conferences in the U.K. Organized by the EBCC


encourage you to                the following 2 events in the UK to promote Egypt/UK trade and invest-
                                ments:
advertise in both the
                                1.Opportunity Egypt: A Trade and Investment Conference to be held in
e-newsletter & the website      conjunction with the Middle East Association on November 11, 2009 in
                                London. The conference will bring together British and Egyptian firms to
For more information            discuss the planning and funding of projects, and aims to facilitate sus-
                                tainable public-private partnerships.
on how to advertise,
please contact                  2.Conference on Investment Climate and Business Opportunities in
Fieby Marzouk at:               Egypt and Scotland with emphasis on financial services, the Public Pri-
fieby.marzouk@beba.org.eg       vate Partnership (PPP) scheme and SME’s project development to be held
                                in Edinburgh, Scotland on November 12, 2009 (Click here for more)
     Page 2                                                        THE ECONOMIC OBSERVER



                          News from Egypt & the United Kingdom
                                          News from Egypt


•   Egyptian Remittances Drop 23 % in April-June (Arab Finance, 1st of October 2009)
                                              Economy

•   Egypt’s Government Expenditures Outstrip Income (Daily News Egypt, 11th of October 2009)
•   Egypt Urban Inflation Rises to 10.8 % in September (Arab Finance, 11th of October 2009)
•   40 Public Firms to Be Privatized (Al Masry Al Youm, 13th of October 2009)
•   Egypt Aims to Raise Growth to 10 Pct by 2012 (Daily News Egypt, 19th of October 2009)
•   Egypt for $1.8bn Stimulus Plan (Mubasher, 26th of October 2009)
•   IMF Bolsters Egypt’s Reserves (Business Today Egypt, October 2009)


•   EU and Egypt Sign Trade Agreement on Agriculture (Al Masry Al Youm, 12th of October 2009)
                                             Agriculture

•   Egypt Raises Price of Milk Supplied to Factories (Zawya, 21st of October 2009)


•   Tough Times for Car Sales (Al Masry Al Youm, 13th of October 2009)
                                            Automotive

•   Egypt’s GB Auto in Vehicle Financing Venture (Reuters, 15th of October 2009)


•   Beltone First Brokerage to Directly Trade in Government Bonds (Mubasher, 1st of October
                                         Banking & Finance

    2009)
•   Egypt Plans IPOs, Won’t Sell Banque Du Caire, Mohieldin Says (Bloomberg, 2nd of October
    2009)
•   Egypt May Allow Mobile Banking in Few Months, Central Bank Says (Mubasher, 12th of October
    2009)


•   Contractors’ Union: Real Estate Market Started Recovery after Recession (Arab Finance, 19th of
                               Construction, Housing & Real Estate

    October 2009)


•   Egypt Sifts Wind Farm Bids, Plans Nuclear (Arab Finance, 1st of October 2009)
                                              Energy

•   Egypt Seeks Gas Oil as Demand Robust (Arab Finance, 7th of October 2009)


•   New License to Ignite Competition, but TE Ready, Hermes (Arab Finance, 1st of October 2009)
                                    IT & Telecommunication

•   Orascom Telecom May Face Difficulty in Tapping Banks – Experts (Mubasher, 9th of October
    2009)
•   Egyptian Mobile Phone Subscribers Top 51 Million (Reuters. 19th of October 2009)
•   Telecom Egypt Interested in Boosting Vodafone Stake, CEO Says (Bloomberg, 21st of October
    2009)


•   Egypt’s Lecico to Boost Ceramic Production (Mubasher, 20th of October 2009)
                                         Manufacturing



•   Egypt Announces New Rice Export Regulations (Zawya, 16th of October 2009)
                                               Trade

•   Egypt Aims to be 75 % Self-Sufficient in Wheat in 10 Years (Arab Finance, 20th of October 2009)


•   Egypt’s Tourism Seeing Rebound, Say Analysts (Daily News Egypt, 8th of October 2009)
                                           Tourism
     Page 3                                                         THE ECONOMIC OBSERVER



                     News from Egypt & the United Kingdom (Cont’d)
                                         News from the U.K.



•   Services Sector Growth at Two-Year High (Financial Times, 5th of October 2009)
                                               Economy

•   U.K. Consumer Confidence Index Increases to 1 1/2-Year High (Bloomberg, 6th of October 2009)
•   Bank of England Holds Rates (Reuters, 8th of October 2009)
•   U.K. Trade Deficit Falls to Lowest since 2006 (Financial Times, 9th of October 2009)
•   PM Predicts Economy’s Strong Growth (Mubasher, 11th of October 2009)
•   Britain’s Real Jobless Total ‘More than 3m’ Says New Report (The Guardian, 18th of October
    2009)
•   U.K. GDP Will Grow Twice as Much as Forecast, Item Club Says (Bloomberg, 19th of October
    2009)
•   U.K. Borrowing Rate Expected to Grow by 15 Billion Pounds (Mubasher, 20th of October 2009)


•   Finance Firms See First Growth in 2 Years (Mubasher, 15th of October 2009)
                                         Banking & Finance

•   Government Banks Failing to Sell off Assets to Private Equity Firms (The Guardian, 18th of Octo-
    ber 2009)
•   Aviva to Raise About 1.2 Billion Euros from Delta IPO (Bloomberg, 19th of October 2009)
•   U.K. Accountants Plan for Growth (Telegraph, 19th of October 2009)
•   U.K. Regulator Proposes Ban on ‘Self-Certification’ Mortgages (Bloomberg, 19th of October
    2009)
•   U.K. Bank Bonuses ‘to Rise by 50%’ (BBC News, 20th of October 2009)
•   Barclays Buys Standard Life Bank (BBC News, 26th of October 2009)
•   U.K. Banks Face Tougher Reporting Rules (Financial Times, 26th of October 2009)


•   U.K. Construction Industry Still Contracting, Says Cips (The Guardian, 2nd of October 2009)
                               Construction, Housing & Real Estate

•   U.K. Housing Market Gains on Home Shortage, RICS Says (Bloomberg, 13th of October 2009)
•   House Prices to Fall 10pc in 2010 (Telegraph, 16th of October 2009)


•   Fuel Poverty ‘Continues to Rise’ (BBC News, 21st of October 2009)
                                               Energy

•   Petrofac Is ‘Increasingly Confident’ of 20% Profit Increase (Bloomberg, 22nd of October 2009)
•   Double Nuclear Use, Urges EDF Chief (Financial Times, 25th of October 2009)


•   Manufacturing Output Weakest since 1992 (Financial Times, 6th of October 2009)
                                        Manufacturing

•   Strong Sales Rise Boosts Cadbury (BBC News, 21st of October 2009)


•   Sales Growth Slows at Sainsbury (Financial Times, 7th of October 2009)
                                               Retail

•   WH Smith Reports Lift in Profits (The Independent, 15th of October 2009)
•   U.K. Retail Sales Unexpectedly Stagnated in September (Bloomberg, 22nd of October 2009)


•   BAA Sells Gatwick for £1.5bn to City Airport Owner (Financial Times, 21st of October 2009)
                                              Tourism



•   Pound’s Weakness Gives Lift to Exporters (Financial Times, 21st of October 2009)
                                              Trade
      Page 4                                                            THE ECONOMIC OBSERVER




UK Broadband ‘Not Fit’ for Future (Source: BBC News, 1st of October 2009)
                                           Did You Know?


A study of the global state of broadband has put the UK 25th out of 66 countries in terms of the quality
and reach of its networks. The research for Cisco found that countries such as Latvia and Bulgaria were
better prepared than the UK for next-generation net applications. The UK was listed among countries
whose broadband is “meeting needs for today”. (Read more)
    Ready for tomorrow       Comfortable for today         Meeting needs for         Below needs for

    Korea                   Switzerland                 Iceland                     Malta
                                                                  today                    today

    Japan                   Czech Republic              Estonia                     Luxembourg
    Sweden                  Norway                      Greece                      Chile
    Lithuania               United States               Singapore                   China
    Bulgaria                Portugal                    Canada                      Qatar
    Latvia                  Finland                     UK                          Brazil
    Netherlands             France                      Australia                   Argentina
    Romania                 Germany                     Spain                       Saudi Arabia
    Denmark                 Hungary                     Poland                      Cyprus
Source: Said Business School and University of Oviedo

                                        Quote of the Month

“I find it very ironic that people who have always been in favor of market economics all of a sudden
suspended the rules of capitalism. It really undermines the functioning of the economy. It’s a distor-
tion to the economy.” - By Joseph Stiglitz, Nobel Prize-winning economist & professor at Columbia
University in New York (Source: Bloomberg, 7th of October 2009)


                                              Quick Poll

Do you think another round of stimulus will be the key to a sustainable world economic recovery?
• Yes
• Somehow
• No
• Don’t know (Source: Trade Arabia, 11th of October 2009)
                                  Click here to submit your vote!

                                     Some Facts and Figures

•    Half of the world now lives in cities and towns and out of every three urban dwellers, 1 lives in
                                                 Poverty

     slum areas (around 1 billion people). (Source: Impact, the Ministry of International Co-opera-
     tion, 4th of October 2009)
•    The number of children in the world is estimated to be around 2.2 billion. The number of chil-
     dren stricken with poverty? 1 billion. (Source: Impact, the Ministry of International Co-opera-
     tion, 4th of October 2009)

•    More than a quarter of the world’s population are using the Internet. (Source: International
                             Information & Communication Technology

     Telecommunication Union, Telecommunication Development Bureau, October 2009)
•    Over the past 5 years, the total number of fixed broadband subscribers has grown more than
     threefold, from about 150 million in 2004, to almost 500 million by the end of 2009. (Source:
     International Telecommunication Union, Telecommunication Development Bureau, October
     2009)
    Page 5                                                         THE ECONOMIC OBSERVER



                                   BEBA’s October-Events

The British Egyptian Business Association (BEBA) has organized a roundtable discussion entitled:
       Roundtable Discussion: Global Credit Solutions for Exporters in the Financial Crisis

Global Credit Solutions for Exporters in the Financial Crisis, on the 14th of October 2009, at the
Nile Hotel. The special guest speaker, Mrs. Ola Gadallah, Chairperson of Export Credit Guarantee
Company of Egypt (ECGE), briefed the attendees on the company’s business and provided use-
ful information regarding export credit insurance and protection against losses for top exporters.
The question-and-answer session was moderated by Gary Hunt, Deputy Director of the Trade and
Investment at the UK Embassy.
Kindly click here for a wrap-up of the Roundtable Discussion.




     From left to right: Gary Hunt, Deputy Director of the Trade and Investment, British Em-
     bassy in Cairo, and Mrs. Ola Gadallah, Chairperson of Export Credit Guarantee Company
     of Egypt (ECGE).



BEBA has organized a breakfast briefing on the 25th of October 2009 in honour of HRH, the Duke of
                                 BEBA Meets HRH, the Duke of York

York, who has visited Egypt to promote British-Egyptian bilateral relations in education and invest-
ment.




     From left to right: Hazem Hassan, BEBA’s Chairman, HRH, the Duke of York, and Sara
     Hinton, BEBA’s Vice Chairman.

Our dear readers will have the opportunity to read about BEBA’s Annual Gala Dinner, which
took place on the 29th of October 2009 at the British Embassy, in Issue 17 - December of our
Newsletter.
       Page 6                                                      THE ECONOMIC OBSERVER

                                   BEBA’s Forthcoming Events


   Roundtable Discussion                 November 09th, 2009                    Nile Hotel
            Event                              Date                             Location

 Luncheon in honour of H.E. Dr.                                          Semiramis Intercontinental
                                         November 17th, 2009
    Youssef Boutros Ghaly                                                          Hotel

                Forthcoming Events in Egypt and the Region in 2009/2010
              Event                   Date         Location                   Organizer

Islamic Funds World Middle
                                   2-4 Nov. ‘09      Dubai      Rexter
                                             November 2009

East 09
Media & Marketing Show             3-5 Nov. ‘09      Dubai      Dubai Media Show
Egyptian 2nd Int’l Conference
                                  9-12 Nov. ‘09    Hurghada     Egyptian Chemical Society
in Chemistry
8th Annual Private Equity Con-                                  African Venture Capital Association
                                  15-17 Nov. ‘09     Cairo
ference                                                         (AVCA)
Telecoms World Middle East
                                  16-19 Nov. ‘09     Dubai      Telecoms World Middle East
2009
The Middle East Mobility &
                                  17-18 Nov. ‘09     Dubai      ARABCOM Group
Broadband Summit
Summit on the Global Agenda       20-22 Nov. ‘09 Dubai          World Economic Forum

International Petroleum Tech-
                               7-9 Dec. ‘09      Doha           Society of Petroleum Engineers
                                          December 2009

nology Conference
Corporate Governance and                                        Financial Euromoney Training EMEA
                              13-16 Dec.’09      Dubai
Basel II                                                        Middle East

                                                                Union of Producers and Exporters of
Horti Egypt                       11-14 Jan. ‘10     Cairo
                                         January 2010

                                                                Horticultural Crops
World Future Energy Summit        18-21 Jan. ‘10  Abu Dhabi     Reed Exhibitions and Elsevier
World Currencies Summit            25 Jan. ‘10      Dubai       Datamix


International Property Show        2-4 Feb. ‘10      Dubai      Strategic Marketing & Exhibitions
                                            February 2010


Tourism Development & In-
                                   5-7 Feb. ‘10      Dubai      Reed Exhibitions
vestment Mkt.
North Africa Technical Confer-
                                  14-17 Feb. ‘10     Cairo      Society of Petroleum Engineers
ence & Exhibition
MTB Oil & Gas                     17-20 Feb. ‘10     Dubai      Copland Events UK

ITCE                              23-26 Feb. ‘10     Cairo      Arab Communication Group

11th Annual Hedge Funds
                                   1-4 Mar. ‘10      Dubai      Terrapin
                                              March 2010

World Middle East 2010
Aviation Outlook Middle East       1-4 Mar. ‘10     Abu Dhabi   Terrapin

Oil & Gas West Asia               11-13 Apr. ‘10      Muscat    OIEC
                                               April 2010



The 12th Annual Arab Int’l
                                               May 2010

Telecom Development Summit        13-14 May ‘10     Beirut      ARABCOM Group
for the Arab States
       Page 7                                                             THE ECONOMIC OBSERVER



          Forthcoming Events in Egypt and the Region in 2009/2010 (Cont’d)
             Event                     Date          Location                         Organizer

Automech Akhbar El Yom            8-12 Jun. ‘10        Cairo          ACG - ITF
                                               June 2010

Interbuild Egypt                  17-21 Jun. ‘10       Cairo          Arabian Group for Development

6th Trans Middle East 2010        23-24 Nov. ‘10       Alexandria     Transport Events Management Limited
                                           November 2010


                  Forthcoming Events in the UK in 2009 and Beyond

          Event                   Date              Location                       Organizer


Hedge Fund London             3-5 Nov. ‘09           London         Terrapinn Pte Limited
                                                November 2009


World Travel Market
                             9-12 Nov. ‘09           London         Reed Travel Exhibitions
(WTM 2009)
FT Innovate 2009             10-11 Nov. ‘09          London         Financial Times


Mines and Money London
                                                December 2009

                              1-2 Dec. ‘09           London         Aspermont UK
2009
                                                                    Financial Times in Partnership with
FT Summit: Managing
                               3 Dec. ‘09            London         the Multilateral Investment Guarantee
Global Political Risk
                                                                    Agency (MIGA)
Internal Audit Quality As-                                          MIS Training Institute, Euromoney
                             14-16 Dec. ‘09          London
surance                                                             Training Group


The British Franchise Ex-
                                                 January 2010

                             29-30 Jan. ‘10        Manchester       Venture Marketing Group
hibition - Machester


Logicon                       2-4 Feb. ‘10           London         Worldwide Business Research
                                                February 2010




Ecobuild 2010                 2-4 Mar. ‘10           London         Int’l Business Events Ltd.
                                                 March 2010




National Energy Manage-
                                                  April 2010

                             20-22 Apr. ‘10        Birmingham       Faversham House Group Limited
ment Exhibition
                                                                    United Business Media (UBM) Informa-
Internet World 2010          27-29 Apr. ‘10          London
                                                                    tion Limited


How the Financial Markets
                                                  June 2010

                             14-18 Jun. ‘10          London         Financial Euromoney Training
Work
The Global Borrowers and
                             22-23 Jun. ‘10          London         Euromoney Conferences
Investors Forum 2010


World Congress on Engi-      30 Jun. - 2 Jul.
                                                June/July 2010

                                                     London         International Association of Engineers
neering 2010                      ‘10
      Page 8                                                           THE ECONOMIC OBSERVER



                        Glob a l Conf e rences in 2009 and 2010
               Event                 Date          Location                        Organizer

The China Energy and Envi-                                             Financial Times and China Cham-
                                  2-3 Nov. ‘09       Beijing, China
                                            November 2009

ronment Summit                                                         ber of International Commerce
2nd Annual Global Financial
                                  2-4 Nov. ‘09      Naples, Florida    CME Group
Leadership Conference
                                                                     Barcelona Chamber of
3rd Mediterranean week of
                                  2-6 Nov. ‘09      Barcelona, Spain Commerce, Industry and Naviga-
Economic Leaders Summit
                                                                     tion , & Ascame
India Economic Summit            8-10 Nov. ‘09      New Delhi, India World Economic Forum
Midest Paris                     17-20 Nov. ‘09      Paris, France     Reed Expositions France
Corporate Loan Workouts &                         Prague, Czech
                                 24-26 Nov. ‘09                        Euromoney Training EMEA
Financial Restructuring                             Republic

2nd Annual Security Africa
                                  1-4 Dec. ‘09       Accra, Ghana      MIS Training Institute
                                            December 2009

Summit 2009
                                                      Hong Kong,
The World in 2010                  2 Dec. ‘09                        Economist Conferences
                                                        China
                                                   Singapore, Singa-
                                  3-4 Dec. ‘09
                                                         pore
Citi-FT Financial Education

The Corporate Financing Fo-
                                                                     Financial Times Conferences

                                   8 Dec. ‘09        Paris, France     Euromoney Conferences
Summit

rum
                                                  Budapest, Hun-
                                  8-9 Dec. ‘09
                                                       gary
Energy Derivatives                                                     Euromoney Training EMEA


                                                                       Confederation of Indian
Auto Expo                        5-11 Jan. ‘10      New Delhi, India
                                             January 2010

                                                                       Industries, ACMA & SIAM
                                                      Ghent,
InterSOLUTION 2010               14-16 Jan. ‘10                        Flanders Expo
                                                     Belgium
ITnT-IT & Telecommunication                          Vienna,
                                 26-28 Jan. ‘10                        Reed Exhibitions Messe Wien
Exhibition                                           Austria
                                                      Davos,
Annual Meeting 2010              27-31 Jan. ‘10                        World Economic Forum
                                                   Switzerland

DesignCon                         1-4 Feb. ‘10   Santa Clara, USA      Int’l Engineering Consortium (IEC)
                                            February 2010


                                                   Amsterdam, Hol-
Integrated Systems - Europe       2-4 Feb. ‘10                     InfoComm International
                                                        land
                                                                       Hannover Messe Bilesim
WIN-World of Industry Part II    25-28 Feb. ‘10     Istanbul, Turkey
                                                                       Fuarcilik


Corporate Citizenship 2010       15-16 Mar. ‘10     New York, U.S.A. Economist Conferences
                                                March 2010


MIPIM Horizons                   16-19 Mar. ‘10      Paris, France     Reed Exhibitions


Global Learn Asia Pacific 2010   17-20 May. ‘10 Penang, Malaysia AACE
                                                 May 2010



2010 Global Finance Confer-
                                 27-30 Jun. ‘10     Poznan, Poland     Global Finance Association
                                                 June 2010

ence
    Page 9                                                           THE ECONOMIC OBSERVER



                                   Regional & Global News


IMF Warns on Rising Bank Losses (Source: Mubasher, 1st of October 2009)
                                  Regional & Global Economic News



The International Monetary Fund on Wednesday lowered its estimate for global write-downs for
banks and other financial institutions to roughly $3.4 trillion but warned that loan losses could rise
in the face of stubbornly high unemployment and associated delinquencies. (Read more)

IMF Increases Next Year’s Middle East Growth Forecast to 4.2% (Source: Bloomberg, 1st of
October 2009)

The International Monetary Fund increased its 2010 economic growth forecast for the Middle East
to 4.2 percent from 3.7 percent after oil prices rose. “The outlook for the Middle East has improved
recently, with the global economy stabilizing and oil prices rebounding,” the IMF said in its Global
Economic Outlook released today. (Read more)


Emerging Markets to Lead Economic Recovery: HSBC (Source: Trade Arabia, 7th of October
2009)

HSBC has launched the largest survey of emerging markets economic data which suggests that
emerging markets are likely to lead the global economic recovery. (Read more)

Eurozone Trade Falls into Deficit (Source: BBC News, 16th of October 2009)

The eurozone trade balance with the rest of the world slipped into deficit in August after a big sur-
plus in July, as exports fell by more than imports. The deficit was 4bn Euros ($6bn; £3.7bn), com-
pared with a surplus of 12.3bn Euros in July. (Read more)



EU Launches Free Satellite System to Fine-tune GPS (Source: Reuters, 1st of October 2009)
                                             Other Topics



The European Union launched a free satellite navigation network on Thursday that could help pi-
lots, drivers and blind people by fine-tuning the accuracy of the U.S. global positioning system (GPS)
to around 2 meters. (Read more)

Giants in Cattle Industry Agree to Help Fight Deforestation (Source: New York Times - Interna-
tional Herald Tribune, 6th of October 2009)

Environmental groups hailed a decision this week by four of the world’s largest meat producers to
ban the purchase of cattle from newly deforested areas of Brazil’s Amazon rain forest. At a confer-
ence on Monday in São Paulo organized by Greenpeace, the four cattle companies — Bertin, JBS-
Friboi, Marfrig and Minerva — agreed to support Greenpeace’s call for an end to the deforestation.
(Read more)

Facebook Sued by Samurai Network Owner over Patents (Source: Bloomberg, 7th of October
2009)

Facebook Inc., the world’s most popular social-networking Web site, was sued by a Japanese com-
pany that claims the site was built using its patented technology. Mekiki Co., which runs the samu-
raitime.com network site, claims Facebook uses its “fundamental and patented social networking
intellectual property,” including ways to identify new “friends” through existing contacts. (Read
more)
    Page 10                                                         THE ECONOMIC OBSERVER



                                         An OECD-Event

The MENA-OECD Investment Programme and the Ministry of Investment in Egypt have organized
    Business Climate Development Strategy of Egypt: Key Findings of the Assessment Phase

a presentation of the key findings of the assessment phase of the Business Climate Development
Strategy process on the 12th of October 2009, at the Ministry of Investment. This study was con-
ducted by the MENA-OECD Investment Programme, under the auspices of the Ministry of Invest-
ment in Egypt, and supported by other ministries, government agencies, and the private sector. The
main partners of these organizations during the process are the EU Commission Delegation in Cairo
and the World Bank Group.
Please click here for a summary of the speeches given by keynote speakers during the event, and
of the key results and recommendations of assessment phase, which is one of three phases in the
process.

                                         An IMF-Report

The World Economic Outlook (WEO) presents the IMF staff’s analysis and projections of economic
                              World Economic Outlook - By the IMF


developments at the global level, in major country groups (classified by region, stage of develop-
ment, etc.), and in many individual countries. It focuses on major economic policy issues as well
as on the analysis of economic developments and prospects. It is usually prepared twice a year, as
documentation for meetings of the International Monetary and Financial Committee, and forms the
main instrument of the IMF’s global surveillance activities. (Source: The International Monetary
Fund, October 2009)
                   Please click here to download the full report published in October



                                       Cadbury Adams Egypt
                                         Member News


City (Source: Zawya, 20th of October 2009)
Cadbury Egypt Invests EGP 63 Million on the Expansion of its Factories in 10th of Ramadan


Cadbury Egypt announced the expansion and the addition of new production lines in its factories
in the 10th of Ramadan City. The expansions are valued at EGP 63 million. This expansion is part of
the company’s ongoing efforts to increase its productivity of chocolates, candy and cookies […], to
fulfill the consumer demands of the Egyptian and international markets. (Read more)

                                    Four Seasons Hotels

Brings More than 14 Years’ Experience to Seaside Hotel. (Source: Four Seasons Hotel, 9th of
Four Seasons Hotel Alexandria at San Stefano Welcomes New General Manager. Todd Cilano

October 2009)

Four Seasons Hotel Alexandria at San Stefano has recently welcomed Todd Cilano as its new Gen-
eral Manager. Relocating from Four Seasons Resort Chiang Mai, Cilano is an important asset to Four
Seasons Hotels and Resorts. He has more than 14 years’ experience in the hospitality field, gained
through working in hotels across North America, Asia, Europe, the Middle East and the Caribbean,
including Four Seasons Hotel Washington, DC, Four Seasons Hotel Bangkok, Four Seasons Hotel
London and Four Seasons Hotel Riyadh. (Read more)


Hilton Expands into in Marsa Alam (Source: Daily News Egypt, 18th of October 2009)
                                 Hilton International Hotels


Hilton Worldwide announced an agreement with Concord Co. to bring Marsa Alam its first Hilton-
branded hotel by 2012.The 370-room property will be located approximately 20 km south of Marsa
Alam International Airport and 30 km from Marsa Alam town. Boasting a 1.5 km beachfront, the
new hotel will be part of a larger project to integrate a residential town, entertainment village and
congress center on the coast of Egypt’s Red Sea. (Read more)
    Page 11                                                         THE ECONOMIC OBSERVER



                              Member-to-Member Benefits


British Airways is taking an initiative to help its existing and potential customers experience
                                            British Airways


its best premium product – the FIRST class cabin and treatment experience. Now you can travel
in style with your special someone, friend or family by buying 1 full fare FIRST class ticket and
getting the second one at only 50% of the cost. If you know you are travelling more than once
within this year, you can also buy two tickets for yourself and enjoy the discount on one of
them!

For more information, please go to: www.britishairways.com/travel/home/public/en_eg




Pyramisa Hotels & Resorts is pleased to offer BEBA Members a 35% discount at its following
                                    Pyramisa Hotels & Cruises


Hotels for the year 2009: Pyramisa Blue Lagoon Hotel Hurghada; Pyramisa Sharm-El-Sheikh
Hotel, Resort & Convention Center & LTI Pyramisa Beach Resort Sahl Hasheesh & Convention
Center; Pyramisa Isis Corniche Aswan; Pyramisa Isis Luxor; LTI Pyramisa Isis Island Aswan;
and Cairo Pyramisa Hotel & Casino.

Please click here for discounted rates.




Ramses Hilton Hotel is pleased to offer BEBA members the following:
                                          Ramses Hilton Hotel


1- Room Rates: 20% discount on published Egyptian package rate.
2- Food & Beverage: 15% discount on all outlet prices including fine dining restaurants.
Offer is valid till December 31, 2009 and prior reservation is required.

For room reservations please call: 2394 3165
For F&B reservations please call: 2394 6902



     IT IS TIME TO RENEW YOUR MEMBERSHIP FOR 2010!
                                      Membership Renewal


For more information, please contact Fieby Marzouk, BEBA’s Web
          Administrator, at: fieby.marzouk@beba.org.eg

                Share your news!
                To post any news on your company in the newsletter, kindly contact Samar
                Helmy, Research Coordinator at
                samar.helmy@beba.org.eg
                We want to hear from you!
                If you have any suggestions, comments, or if you would like to write an
                article for the newsletter, kindly email the editor at
                samar.helmy@beba.org.eg

The BEBA Economic Observer will be circulated to: BEBA members, British companies in
Egypt, European Embassies, Business Chambers in the UK, Government organizations, BEBA
partner organizations.

				
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posted:10/4/2011
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