Word: bankes
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Dates: during 1970-1979
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...afternoon of Oct. 6, 1973, the cry of "Allahu Akbar!" (God is great) rose from the throats of Egyptian soldiers as they stormed across the Suez Canal and overran the lightly manned Israeli strongpoints of the Bar Lev Line. Later the first Egyptian flag raised on the eastern bank of the canal was presented to the Grand Sheik of Cairo's Al Azhar Mosque...
...about 7% of its evergrowing G.N.P. (estimated at $66 billion in 1978) to less privileged Muslim states in the form of low-cost loans and gifts. By comparison, U.S. foreign aid last year amounted to only one-third of 1% of G.N.P. Mahbub Haq, an economist with the World Bank, foresees a billion-dollar World Muslim Foundation, financed by oil-rich Middle Eastern states, that will organize and provide aid for poor Islamic nations that adhered to the faith even during its years of ebb and decline. Says he: "The Muslim countries need their own OECD...
...present will again include only Egypt, Israel and the U.S., must somehow devise a formula that the Palestinians, as well as the moderate Arabs, will recognize as real and not sham autonomy. One key issue is whether the self-governing councils to be set up for the West Bank and Gaza will have control over land and water. That would give the Arab residents the authority to curb Israeli settlements and the right to drill for water on public land, something that has been largely denied them since the Israeli occupation began in 1967. Predicts one U.S. analyst...
...terms of return on invested capital, the oil firms have been slightly below the par for U.S. industry. In 1978, according to a Chase Manhattan Bank study of 27 oil companies, they had an average return of 13.2%, compared with nearly 15% for all firms...
...proposals will be an eight-year "rising rate" certificate of deposit in amounts as low as $500. The interest will start at 6% (6.25% in savings banks) and rise gradually to 8% (8.25%) over five years; a saver who leaves $500 on deposit over the full eight years will get $386.17 in interest, vs. $244.06 in a regular 5% bank account. Savers will also be able to buy a five-year certificate pegged to the average five-year Treasury Note rate, currently 9.2%; interest on the new certificate will be 1.25% less than that rate, or 1% less if bought...