Word: beirutization
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...mission confronting Secretary of State Cyrus Vance was to learn as he put it, "how to crack the hard nuts that have to be cracked So last week Vance flew in and it of the familiar way stations of Middle Eastern diplomacy-Alexandria Beirut, Damascus ... En route he heard a revised and promising version of a formula for indirect negotiations between Israel and the Arabs-but in almost no time at all the region's quarreling states proved that this solution would not be acceptable. Thus by week's end, with his eleven-day trip mostly over...
...Said one U.S. official: "The problem with all this is how the Arabs will feel about it. Frankly, I think they will have a tough time accepting it." Although Egyptian sources expressed satisfaction that both the U.S. and Israel favor a Geneva Conference in October, a P.L.O. spokesman in Beirut rather ominously warned that Begin's plan was a program for war, not peace...
...organization's money at the gaming tables of Cairo. But as even critics of the P.L.O. concede, most of the Palestinian leaders emulate the ascetic style of Arafat who, despite international renown, dresses in baggy battle fatigues, operates out of a spartan office in a Beirut slum, and indulges in neither whisky, cigarettes nor women...
Samed is expected to eventually turn a comfortable profit-something that appeals more and more to the P.L.O.'s fiscal managers. The organization has put together what amounts to an estimated $60 million to $100 million investment portfolio; current holdings include ownership of two Beirut hotels, a 500-room youth hostelry under construction in Cairo, shares in shipyards, oil tankers and television stations abroad, as well as blue-chip holdings in U.S. companies that operate in the Middle East. Some of this money has even been used for the quiet purchase of land on the West Bank that local...
...widely known in the Middle East as the P.L.O. Bank, but its Jerusalem-born president, Abdel Majeed Shoman, 65, is handsomely repaid for whatever risks he may take in helping his fellow Palestinians invest their growing wealth. During the height of the Lebanese fighting, for instance, Shoman's Beirut branch was heavily guarded by Arafat's fighters. While many of Beirut's 79 other banks were being burned and pillaged, the Arab Bank operated without interruption throughout...