Word: arabized
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Dates: during 1980-1989
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...Oman, declining oil prices will hold the economy's growth well below the whopping 14% gain achieved last year and will force the government to curtail projects in its five-year plan. Omanis are already borrowing abroad and using foreign currency reserves to finance budget shortfalls. The United Arab Emirates, a federation of seven sheikdoms, has been politically weakened by the oil-price collapse. The federal government that binds the state together is virtually broke, and the two leading emirates, Dubai and Abu Dhabi, are reluctant to dip into their own shrunken treasuries to bail...
While that statement heartened U.S. oil drillers, along came a more dire forecast by Mani Said al-Oteiba, the Oil Minister of the United Arab Emirates. He declared OPEC--the Organization of Petroleum Exporting Countries--to be in disarray and predicted that prices could fall as low as $5 per bbl. His remarks helped send the price of West Texas Intermediate, a benchmark crude, tumbling to $9.75 per bbl. Tuesday on the New York Mercantile Exchange...
Shultz made the statement at a Washington lunch for Israel's Peres, whose warnings of increased instability in the Middle East are taken seriously in the capital. On the one hand, Israeli officials say their country has been strengthened diplomatically by the oil glut. The declining petropower of the Arab countries has emboldened many Third World oil-using nations to renew contacts with Israel broken off during the 1974 oil crisis. But closer to home, some Israeli officials see increased potential for an attack by Syria, which has fallen on hard times partly because beleaguered Iran...
...beneficiaries of the oil glut should ante up $20 billion to $30 billion for a fund to spur development in Egypt, Jordan, Lebanon, Syria and Israel. The proposal, even if not considered utopian, would face many obstacles, including the U.S. need to cut its budget and the reluctance of Arab countries, which have so far refused to join a program initiated by Israel...
...elections are being closely monitored in Washington and throughout the Arab world. Sudan strategically abuts several Arab and African countries, including Egypt, Libya, Chad and Marxist-ruled Ethiopia. It also lies just across the Red Sea from Saudi Arabia. The U.S. has considered the country an ideal staging area for its forces in the event of a military threat to the gulf region. Even when Arab nations shunned the late Egyptian President Anwar Sadat for entering peace negotiations with Israel, Nimeiri was staunchly pro- Western and firmly allied with Egypt. The U.S. has attempted to ensure Khartoum's loyalty...