Word: arabian
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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...
...market. This would push prices higher and cause incalculable economic turmoil. Or the Soviets could try to conquer Persian Gulf oilfields, which begin just across their southern border. Kremlin leaders flatly deny that they covet oil vital to the industrial West, but intelligence sources report that even Saudi Arabian leaders have held informal talks with the Soviets about the possibility of selling crude in exchange for Soviet aid in refinery construction. Given the political instability of most Middle Eastern regimes, many Western experts fear the Soviets could intimidate them into bartering their oil for a token amount of technical...
...paucity of $50 and $100 bills has been reported in California, where they are widely used in "pyramid clubs" (the modern variation of the old chain letter), which usually require players to contribute $500 or $1,000 in cash. The Saudis also like $100 bills. In May, Saudi Arabian banks took delivery on $250 million in $100s...
...their lip service to international law and justice, the ministers virtually ignored Iran's illegal and inhumane detention of 53 U.S. citizens. Only through the efforts of Saudi Arabian Foreign Minister Prince Saud al Faisal was a phrase inserted urging Tehran to solve the hostage question "in the spirit of Islam." The delegates denounced Washington for the hostage rescue attempt, which the resolution describes as "the recent American military aggression in Iran...
...scene is unimaginable. By and large, the Saudi rulers are staunch Wahhabis, a sect with in Islam roughly akin to the Puritans. No doubt the thought of sexual dalliance must occur to some princesses (there are a lot of them), but that does not make Jeddah or Riyadh an Arabian Nights version of La Dolce Vita...