Word: bahrein
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Last week Pepsi was set to take another big gulp out of Coke's Mideastern market. With plants under construction in Basra and Khartoum, Pepsi has issued franchises for other plants, costing about $400,000 each, in Bahrein and Amman...
...first thing they should look for is a 6 ft. 4 in. skyscraper of a man who wears loud clothes and has a surprisingly unlined face for his 57 years. If all Britons in the Middle East were as able, deft and unruffled as Bahrein's Financial Consultant Charles Dalrymple Belgrave, Britain would be winning, not losing, popularity contests in the Arab world. Belgrave, an officer in the British Camel Corps in the Sudan in World War I, answered a blind personal ad in the London Times in 1925. The job was to advise a sheik in Bahrein. Belgrave...
...Bahrein Petroleum Co., jointly owned by two American companies, the Texas Co. and Standard of California (but registered as a Canadian corporation), discovered oil. Production has risen slowly to 30,000 barrels daily, which is about the best Bahrein can do. Some day, perhaps in 20 years, all of Bahrein's oil will be gone...
...when it is, Bahrein will be prepared. Again persuaded by Belgrave, the Sheik has been saving a husky part of his $4,000,000-a-year oil royalties (which are due to be raised). The Sheik keeps one-third for himself, salting away a good chunk in British securities; spends another third on public improvements; deposits the remaining third in the bank, where it buys British government debentures. Today Bahrein has a growing cash reserve of more than $6.500,000 against the inevitable day when the last of the oil is drained away...
Belgrave did not do this alone. Bahrein's little Sheik, Sir Sulman bin Hamad al Khalifah, who came to the throne in 1942, is a good ruler. He looks like Jordan's late King Abdullah, has the same dignified mien and dancing eyes. Sulman's memory is phenomenal: he remembers which oil driller's wife is having a baby. He takes all the newspapers, listens regularly to the Arabic radio broadcasts. When the Moscow radio calls Belgrave a "dictator" Sulman chuckles, twits his $9, 600-a-year adviser. From time to time, in his Rolls-Royce...