Word: bahrain
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...bank stands accused of serious misconduct in two court cases that have received almost no public attention. Moreover, former executives of a prestigious jewelry firm under Investcorp control have told TIME they believe the firm has engaged in misleading accounting practices. Investcorp has a cozy relationship with officials in Bahrain, where the company is based and where the government is responsible for regulating...
...sale to deep-pocket clients in the Persian Gulf. At the right moment, Investcorp and its partners "cash out" by selling off acquisitions at a profit--through a private sale or a public stock offering. Investcorp certainly spends money like a billionaires' bank. An eight-story headquarters in Bahrain (Investcorp House) is complemented not only by the premises on New York's Park Avenue but also by posh offices in London's Mayfair district. White-uniformed butlers glide around serving executives catered gourmet lunches at their desks. Many clients receive annual invitations to conferences like one held in July...
Thousands of U.S. troops continued to stream into the Persian Gulf region, despite surer signs of retreat by Saddam Hussein's forces. This morning, Saudi Arabia and five smaller oil nations -- Oman, Bahrain, United Arab Emirates, Qatar and Kuwait itself -- began deploying much of their 19,000-man "Peninsula Shield" in Kuwait, enough to match the number of U.S. forces now on Kuwaiti soil. Meanwhile, the U.S. operation's Central Command tells TIME Defense correspondent Mark Thompson that Iraq's forces are in close to full flight back north -- including what is believed to be the best of Saddam...
...some experts predicted would destroy the area's ecosystem, is that certain parts seem cleaner and healthier now than they were before the Iraqis dumped their crude. According to a study published last August in the journal Nature, the levels of petroleum hydrocarbons in sediments and some mollusks from Bahrain in June 1991 were lower than those recorded in prewar surveys. Scientists suspect that the reason for this startling finding is that during and after the war, tanker traffic in the gulf was cut back. "Normal" oil pollution, largely from tankers clearing their ballast, had been reduced...
...surprising conclusion: while some stretches of the Saudi coastline were indeed fouled with oil, the hydrocarbons had largely degraded just four months after the war was over. Even more startling: parts of the gulf were actually cleaner after the war than before. Oysters caught off the coast of Bahrain, about halfway down the gulf, had lower levels of petroleum contamination than in the mid-1980s. Offshore sediments showed the same pattern. The probable explanation: sharply reduced tanker traffic more than made up for the effects of the war-related spills...