Word: dhabi
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Saddam shifted his funds through scores of dummy firms and dozens of foreign banks. Conspicuous among the financial institutions was B.C.C.I., now based in Abu Dhabi, which Kroll called "one of the more prominent banks in handling Iraqi money." Saddam also used a Panamanian shell company called Montana Management to acquire an 8.4% stake in Hachette, the publisher of such popular magazines as Elle, Woman's Day and Road & Track. While Hachette swiftly denied that Montana played any role in its management, nervous investors unloaded the media giant's stock, causing it to lose 3.6% of its value...
B.C.C.I. has been in financial trouble since its money-laundering conviction and has turned for help to one of its original sources of funds: the ruling ! family of Abu Dhabi and its head, Sheik Zayed bin Sultan al-Nahayan, reportedly one of the world's richest men. Last year Zayed and his son Prince Khalifa acquired 77% of the bank and pumped in at least $600 million against the huge shortfall revealed by the Price Waterhouse audit. It is far from clear that even this infusion will save the bank. Among other irregularities, the audit showed $400 million simply unaccounted...
...DHABI...
...loser in the Arab realignment is Yasser Arafat of the Palestine Liberation Organization. His support of Iraq has earned him the enmity of Egypt, as well as Saudi Arabia and the gulf states that had been the P.L.O.'s principal financiers. Abu Dhabi would not even let Arafat's plane touch down on its territory last week. Dubai grudgingly permitted a landing when the aircraft ran dangerously low on fuel, but only on the condition that Arafat not set foot outside the plane...
...this would-be Pygmalion is teaching JL's works in Abu Dhabi, where the college was hoping for classes on Dickens or Galsworthy. In a final attempt at revenge, he tries his own hand at fiction but cannot find "the gadget that makes it all work, the crystal, the chip, the formula . . ." Five synonyms later, he desists. The trick...