Hand in hand:privatising five star hotels in Egypt through the stock market will enhance the latter's role as well as set an example of the benefits that could be gained from privatisation

This thesis examines the possibility of privatising public owned five star hotels in Egypt through its stock market in order to give a boost to the Egyptian privatisation programme and to help activate its stock market. To explore these aspects, two main technical exercises were executed. First the writer constructed, for the first time in Egypt, a daily price index for Cairo Stock Exchange and an index for the tourism sector, in order to analyze the efficiency of the capital market. This technical analysis showed that Cairo stock exchange is inefficient, stagnant and undergoes minimal fluctuations, especially when compared to other developed and emerging markets. Second, given the importance and complexity of the valuation of SOEs prior to their privatisation, a sample of three five star hotels that could be prime candidates for privatisation via the stock market in Egypt were selected and a detailed financial analysis for the three hotels was concluded. The result was a valuation range for the three hotels using various valuation methods. Nevertheless it was found out that the final value of hotels will be determined by the market itself. Depite the inefficiency of Cairo Stock Exchange, the thesis did not rule out privatisation through the stock market. On the contrary it cited several examples of developing countries that were able to successfully privatise some of their SOEs via their rudimentary capital markets. Finally, the thesis recommended that five star hotels could be pefect candidates for privatisation via the stock market in Egypt. This is because five star hotels are profitable, privately managed, non strategic and not highly capital intensive businesses. In addition, they do not suffer from overstaffing and the industry in which they operate i.e. tourism sector, has high growth prospects and is of an international nature. Therefore it is anticipated that privatisation of five star hotels can attract a lot of investors because of the relatively high returns. This in turn will help activate and popularize the capital market in Egypt. At the same time the benefits of privatisation would be more visible which will give more momentum to the privatisation programme and make it more politically acceptable.

Balancing expectations in engineering education:enhancing student experiences through empirical research - a comparative analysis

This paper draws upon the findings of an empirical study comparing the expectations and concerns of engineering students with students enrolled on business and management programs. It argues that whilst the two groups of students have very similar expectations, motivations and concerns before their start their studies, once at university, engineering students are twice as likely to drop-out than are their compatriots in business studies. Drawing upon the study findings, recommendations are made as to what might be done to counteract this. The conclusion argues that there is a need for more in-depth research to be conducted in this area in order to identify the reasons behind the different attrition rates and to further enhance engineering undergraduate experience.

How education should link with career paths

How good is your pharmacy practice? And what does “good” look like? Take a look back at the education and training you have received in your career to date. Has it stood you in good stead? Certainly there is a need to establish a model of professional education and development that produces good pharmacists — you should be able to demonstrate your competence regardless of your sector of work. It may help if we move away from the view that excellence in pharmacy practice is primarily defined by where you practise and the kind of job that you do. The Modernising Pharmacy Careers programme’s aspirations to integrate the undergraduate degree with the preregistration training year are bold and to be applauded — provided the outcome delivers changes that are more than superficial. The new model needs to deliver greater integration of education with practice, while retaining an adequate science base. Theory should be put into the context of practice-based, cross-sector learning needs and opportunities. For example, is the classroom really the best environment in which to learn dispensing? Pharmacokinetic theory could be put into context through creatively designed work placements. And it might make more sense to learn patient counselling in a community pharmacy, and so on. Is it resources we lack to make this happen? Or do we lack the collective will to be imaginative, to be radical and to conceive new approaches to professional education? Implicit in this new approach to education is the expectation that pharmacists should teach and mentor and, conversely, that those who teach should also engage in relevant practice. University education must produce graduates whose knowledge and competence are useful to employers. Moreover, graduates must be adequately prepared to enter any area of the profession endowed with professional self-confidence (something, arguably, that needs further development within the pharmacy psyche). Of course, becoming qualified is just the beginning. Post-qualification, pharmacists need structured career paths that foster this professional confidence, support learning and ensure recognition. To this end, the Royal Pharmaceutical Society-led professional curriculum group is working to define knowledge, skills and experience for all areas of advanced practice. More than ever, the profession needs to adopt a culture of learning, teaching and practice research that is unified. The question is: how do we move away from merely collecting qualifications (trophies) to developing meaningful careers? Pharmacists in all areas and at all levels of the profession need to consider their own willingness to make this shift. The RPS and MPC are leading the way, but are we following?

Inspiring young people to engage in engineering education:The Aston University Engineering Academy Birmingham

This paper initially reports concerns about the falling interest in engineering and mathematical disciplines and looks at some of the reasons for this. It then discusses the aims of the Engineering Diploma - a qualification for 14-19 year olds in the UK - and the pedagogical research that that has informed the design and development. The paper highlights the key learning theories that support the delivery of this qualification and provides an example of how this pedagogy has been applied effectively through the curriculum partnership that has been developed between a consortium of schools in the Birmingham local authority, Aston University and employers. It establishes the importance of aligning the curriculum and articulating clear engineering progression routes from the age of fourteen to enable young people to be inspired and motivated towards careers in engineering. The paper presents the view of parents, teachers and pupils involved with the Diploma, during the first year, and the way in which the partnership is informing future developments in the delivery of engineering curriculum within the region. The success of this regional partnership model has resulted in the Department of Children, Schools and Families agreeing to fund the development of the Aston University Engineering Academy Birmingham. This is a school for 14-19 year olds that will open in 2012 on the Aston Science Park adjacent to the University. The final part of the paper looks at the benefits to the young local engineers of this initiative. © 2009 Authors.