Word: arabia
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Dates: during 1980-1989
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...Saudi Arabia's central bank practices prudence on a global scale...
Guarding and investing much of the $117 billion or so that Saudi Arabia is now receiving yearly from oil exports is the responsibility of SAMA, and the money from oil knows no religion. In the past eight years, the kingdom's reserves of surplus petro earnings have swelled more than twenty fold, to at least $100 billion. As a result, SAMA, the country's central bank, has loomed as one of the most powerful and potentially threatening players in all of international finance. If it chose to do so, SAMA could buy scores of large American corporations...
...expanded their character and given depth to the world he must protect. Things used to be so simple; after a long day of reporting for the Daily Planet. Clark Kent would find out that his shapely cohort had managed to get herself stuck in a shark tank in Saudi Arabia. After checking into the nearest phone booth, he would emerge, leotards and all, leap tall buildings and so forth, to arrive at the scene of the crime just in time to save poor Lois. There would always be a moment of sexual tension and a brief query as to where...
...opposing argument is that such a move would inevitably be misinterpreted abroad, to France's detriment. Most worrisome are the reactions of the U.S., West Germany and staunchly anti-Communist Arab countries like Saudi Arabia, which provides one-third of France's oil imports and is a major customer for French arms. King Khalid, in fact, is reported to have expressed concern over a possible Communist Cabinet role, while lunching at the Elysée two weeks ago. Aides to Helmut Schmidt hint that the Chancellor will drive the same message home to Mitterrand when the two meet in Luxembourg this...
...billion and $200 billion worth of domestic and international banking transactions daily through a computer link to the 100 largest overseas banks. John Lee, executive vice president of the association, anticipates a doubling during the next two years of such financial transactions, which might include, for example, Saudi Arabia paying for U.S. refinery equipment with offshore dollars. Says he: "We are gearing up for this expansion." All told, the relaxed regulations should lure back some $200 billion of the roughly $600 billion U.S. banks have booked in their offshore branches...