Word: arabism
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Dates: during 1970-1979
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Saudi Arabia "hurtles into the jet age," but we could carry them much farther. Over the past four years I have urged NASA to put an Arab on the moon (and bring him or her back). The Saudis can easily finance another Apollo mission, NASA could get more scientific data on and from the moon, and our aerospace industry could be rejuvenated by a few billion petrodollars...
...UNITA through Zaïre. After Congress cut off such assistance in 1975, Savimbi was temporarily in trouble. Lately, however, UNITA has been getting funds from other sources, including $18 million reportedly provided by a coalition of wealthy Angolan Portuguese living in Brazilian exile, along with French, Iranian and Arab sources interested in bringing down Neto's Marxist government...
...most recently Somalia, for example. In the Horn of Africa they acquired considerable political capital by helping the Ethiopians drive the Somali insurgents out of the Ogaden. But the war in Eritrea is a different matter. The province's secessionist movement, in the eyes of many nonaligned and radical Arab states, is absolutely legitimate, since Eritrea was unilaterally incorporated into Ethiopia by the late Emperor Haile Selassie in 1967. Both the Soviets and, particularly, the Cubans are doing their best to keep from getting dragged into the righting there. They apparently realize that Eritrea could trap them in a Viet...
...grouping of Marxists and socialists led by Khaled Mohieddin, who was known as the "Red Major" when he was a member of Gamal Abdel Nasser's Revolutionary Command Council. Among the leftist charges: much of the $10 billion given to Egypt by Saudi Arabia and other oil-rich Arab states since 1973 has never reached the people; a bribe of $1.5 million was paid to a government official to get a hotel project started near the Pyramids; the army sold a plane, a gift from another Arab state, to an influential Egyptian at half its value. The government...
Stocks, bonds and Government securities. Foreign money, much of it from Britain and Arab countries, is swirling through Wall Street. Corporate securities held by foreigners as portfolio investments have grown from $34.9 billion in 1974 to $57.7 billion last year. In recent weeks foreign buying has become a major force behind the dramatic rise in the U.S. stock market. Overseas investors also hold an estimated $7.6 billion in U.S. Treasury bills and notes, more than four times as much as in 1974. By making the investments, foreigners are helping to finance the nation's excessive deficit spending, thereby eliminating...