Word: arabia
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Dates: during 1980-1989
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According to Texaco lawyers, the IRS claim relates largely to the company's oil dealings between 1979 and 1981. As a member of a consortium known as the Arabian American Oil Co. (Aramco), Texaco bought crude from Saudi Arabia for $28 per bbl., even though the official going rate was $32 per bbl. The IRS appears to be saying that Texaco should have considered the $4-per-bbl. price break to be income and paid taxes on it. The other members of Aramco -- Exxon, Chevron and Mobil -- could also face penalties, but they have not heard from the taxman...
...fundamentalists to establish kindergartens, youth clubs, sports organizations and, in 1978, an Islamic college. They also permitted the building of mosques, whose number in Gaza rose from 70 in 1967 to nearly 180 today. They even allowed the Islamic sheiks to bring in money from abroad, mostly from Saudi Arabia, to support their activities...
Royal Decree M/13 struck the 4 million foreigners living in Saudi Arabia with the force of a sandstorm. Prompted by sagging oil prices and a projected $10 billion budget deficit, King Fahd declared by edict last week that foreigners, including 35,000 Americans, must pay income taxes of up to 30% for individuals and 45% for companies...
Those words hardly comforted the leaders of the six-nation Gulf Cooperation Council, which met last week in the Saudi Arabian capital of Riyadh to coordinate defense strategies. The six -- Saudi Arabia, Kuwait, Qatar, Oman, Bahrain and the United Arab Emirates -- fear that they will be drawn ever more deeply into the conflict. Iran has already launched Chinese Silkworm missiles against Kuwait. At the summit's opening, Saudi Arabia's King Fahd said the Iranians were "pointing their arrows to our chests instead of helping us to liberate Jerusalem from Zionist domination. There is no reasonable justification for this other...
Diplomatic sources in Damascus said Saudi Arabia and the other council states recently persuaded Iraq to curb its air strikes on Iranian tankers...