Word: aziz
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Throughout the Croesus-rich nations of the Persian Gulf, the businessmen encountered a welcome hunger for U.S. management know-how. When Saudi Heir Apparent Prince Fahd Ibn Abdul Aziz warned that American firms risked losing Saudi business because of slow deliveries, the group formed an impromptu committee to advise the Saudis on ways to streamline their purchasing procedures in the U.S. Arab hospitality was generous. As guests of Prince Salman, governor of Riyadh, the businessmen sipped coffee around a bonfire, then retired to a large black tent as a chilly drizzle began. Inside, they sat cross-legged on carpets...
...crisis that has stalked the world since the Middle East's October war presents some internal problems for Saudia Arabia. No one appreciates those problems more than somber King Faisal ibn Abdul Aziz al Saud. Even as OPEC oil, of which Faisal's reserves constitute the largest share, rocks Western economies, the West's relentless thirst for petroleum is in turn forcing far-reaching modernization on Faisal's desert kingdom. Faisal has faced no greater quandary since he displaced his inept half brother Saud from the throne in 1964. At that time, hard...
...Saud dynasty's hold on Saudi Arabia has been precarious until recently. The family dominated the rudimentary kingdom for more than 150 years until 1891, when they were driven out by stronger tribes. In 1901, however, Faisal's father, crusty Abdul Aziz, popularly known as Ibn Saud, roared out of what is now Kuwait to recover power. Ibn Saud gradually regained the kingship in rolling battles that involved shifting tribal loyalties and, eventually, British intrigue. Finally, in 1925 a force of 45,000 Bedouins led by Faisal - then his father's fa vorite lieutenant - recaptured Mecca...
...rich Arabs may be buying banks in New York and London, but an attempt to break the bank at Monte Carlo last week was somewhat less successful. When three Saudi Arabian princes, including Minister of the Interior Fahd ibn Abdul Aziz, dropped more than $6 million on the roulette wheel at the Monte Carlo Casino, even jaded Monegasques were aghast...
Brass Tacks. In Cairo, the Secretary and Egyptian Deputy Premier Abdel Aziz Hegazi paved the way for the private investment that Egyptian planners hope will revitalize their country's flagging economy. President Anwar Sadat had already announced extensive plans for free-trade zones, but it remained for Simon and Hegazi to nail down three crucial brass tacks: 1) an agreement to reinstate a 1963 accord, suspended after the Six-Day War, that pledges Egypt not to expropriate U.S. property without compensation, 2) a plan for a "joint development institute" in Cairo to advise U.S. firms on the feasibility...