Word: dhabi
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Dates: during 1980-1989
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UNITED ARAB EMIRATES. For centuries the tribes along the southern gulf coast embodied the essence of Araby. Bedouins roamed the desert in the vast inland stretches of Abu Dhabi. Savvy merchants turned Dubai into a notorious smuggling port. A great seafaring tribe, the Qawasim, ruled Sharjah and dominated the gulfs coastal routes until feudal intrigue and British colonial meddling fractured their holdings into independent emirates...
Arab banks have also set up bases in Western money centers like Paris and London. On the elegant Champs Elysees, the National Bank of Abu Dhabi has taken over the former offices of Merrill Lynch. Near the Ritz Hotel on Place Vendome, discreet brass plates in Arabic script announce the presence of Banque Arabe et Internationale d'Investissement. All told, 32 Arab-controlled banks now operate in Paris. Some of London's toniest locations are occupied by eleven Arab banks, including the Bank of Credit and Commerce International. With 45 branches scattered throughout the country...
Manila, Lisbon, Istanbul, Mexico City and Bogotá boast the cheapest prices, while Jeddah (Saudi Arabia), Abu Dhabi and Manama (Bahrain) are the most expensive. Incomes are also swept away rapidly in Tokyo, Oslo, Geneva and Copenhagen. The 2.2 lbs. of medium-quality rump steak that would cost $7 in the U.S. fetches $24 in Zurich and $41 in Tokyo. In Jeddah a smoker must pay $4.99 for a pack of Marlboro cigarettes...