Word: arabia
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Dates: during 1980-1989
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Bankers still do not mention it in the same breath with Tokyo, Zurich, London or New York. But some day they may. Bahrain, a small Arabian Gulf island sheikdom off the oil-rich coast of Saudi Arabia, is rapidly becoming an important financial center. Since the 1973 quadrupling of petroleum prices, 120 banks, including such international giants as Bank of America, Citibank, Chase Manhattan and Bank of Tokyo, have opened offices in Bahrain to handle the gusher of oil money flowing into the Arab world...
...Wall Street of Michael Thomas' first novel knows all about bears and bulls. It is soon to learn about camels. The Kingdom, a Middle Eastern country easily confused with Saudi Arabia, has a problem: too much money and not enough closet space. What should it do with the endless trunkloads of dollars it exchanges for limitless barrels of oil? After all, the Kingdom feels the pinch of inflation too: every time it raises the price of crude, its dollars depreciate. Everyone is caught in a viscous circle-until the entrance of David Harrison, American freelance financial adviser, connoisseur...
...Administration was also concerned over congressional resistance to a request by Saudi Arabia to purchase additional equipment for its 60 American-built F-15 fighter-bombers. With the new equipment, which includes extra fuel tanks, bomb racks and missiles, the planes would have both the range and ground-attack potential to pose a threat to Israel. For the moment, the Administration was keeping an open mind on the question, while noting that Saudi Arabia's security needs have increased with the Soviet invasion of Afghanistan...
...already making political patsies of some importing nations. Saudi Arabia is now using its muscle to try to buy U.S. offensive weaponry for its F-15 fighters. Denmark last month signed a contract for 20,000 bbl. of oil per day that forbids Danes to take any action that would "bring the kingdom of Saudi Arabia or any of its departments into disrepute." This could mean a Saudi veto power over something like showing the controversial film Death of a Princess, or even over Danish foreign policy...
...Ford, always a clothes horse, was "smiling and relaxed in a blue blazer and beige slacks," A story on ghetto problems discusses a "black former newpaper publisher in a gray pinstripe suit." The "People" section of this weekly reveals that when Idi Amin walks down the strets of Saudi Arabia "he wears the shapeless white thobe gown and ghutra headcloth...