Word: bank
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Dates: during 1960-1969
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...August 1967, El Fatah was ready to try to launch an underground revolt among the Arabs on the now occupied West Bank. Hundreds of guerrillas trekked across the Jordan River, only to be rounded up by Israeli forces. To head off any future attempts, the Israelis blew up the homes of any Palestinians who cooperated with Arafat's men. El Fatah's next phase was a campaign that sent smaller groups to hide in caves or live with sympathetic Arabs, and venture out at night to set mines or time bombs. Israel hit back at their riverside guerrilla...
...state authorities do not have to pay federal income tax on the proceeds of the bonds, they are willing to accept a lower interest rate than they otherwise would demand. Currently, the interest rate on the tax-exempt bonds is slightly more than four per cent. Borrowing at a bank can cost about seven per cent. Harvard gets an annual return of about 5.8 per cent on its general investment funds...
...convert holdings into marks before the price of the mark went up. And, of course, French financiers and speculators, fearful of the return of the economic chaos that had characterized the Fourth Republic, were the largest buyers. Because lack of confidence in a currency, like a run on a bank or American foreign policy, moves inexorably toward confirming its premises, they seemed likely to be proven correct...
Died. Yusif Bedas, 56, former president of Lebanon's Intra Bank, central figure in one of the Middle East's most spectacular financial scandals; after a long illness; in Lucerne, Switzerland. Bedas founded a money-changing business on a $4,000 stake in 1948, built it into a $350 million empire centered around Intra. But in 1966, as depositors' money suddenly flowed out of Beirut, Intra collapsed; Lebanese authorities held him responsible for "unorthodox banking practices," but Bedas maintained that "enemies" had conspired to break...
...planes. Finally, when BOAC complained that Eagle was trying to turn a low-rate, special-tour authorization to the Caribbean into a regular run, the licensing board revoked Eagle's authorization to fly there. It thereby wiped away $5,000,000 in annual revenues for the airline. Hambros Bank Ltd., the prestigious London banking house, started to arrange a refinancing, but backed out after the government decision in the Caribbean case...