Word: dhabi
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Stretching 500 miles southeastward from the delta of the Tigris and Euphrates rivers to a narrow strait that doglegs around the tiny tip of Oman, the Persian Gulf may be the world's most valuable and vulnerable waterway. At such desert-edge ports as Ras Tanura, Abu Dhabi, Kuwait, Dhahran and Kharg Island, scores of supertankers congregate like wallowing whales to suck up crude oil. Daily they plow through the gulfs warm waters and out through the Strait of Hormuz carrying some 20 million bbl. of oil-almost half of the non-Communist world's consumption...
Reflecting the deep distrust that Arabs once felt for banks, the Sheik of Abu Dhabi ten years ago stashed his oil money in the dungeon of his palace, where he could keep an eye on it-even though rats kept nibbling away at his profits. Now the rich gush of oil cash into Abu Dhabi and such other Arab states as Kuwait, Saudi Arabia and Libya has forced a change of attitude...
Some news for the 1980s: Two Saudi Arabian princes have just joined the board of directors of General Motors, in which they are major shareholders. The Kuwait Investment Co. is erecting a chain of "Arabian Nights" motels across the U.S. The Sheik of Abu Dhabi has bought a 30% interest in the Columbia Broadcasting System, to add to a communications empire that already includes the Washington Star-News and Metro-Goldwyn-Mayer. The White House issues a statement welcoming the huge investments by "our Arab allies" as a way of stopping the dollar drain ("If they cause us trouble," adds...
...year-old oil minister, had just realized the decades-old Arab dream of gaining control over the vast pools of oil beneath the Middle East's deserts. Last week's agreement allows the five Persian Gulf states of Saudi Arabia, Kuwait, Qatar, Iraq and Abu Dhabi to buy an immediate 20% interest in foreign oil-producing operations in their lands. Most important, the pact calls for the five states to get a 51 % share of ownership in time, perhaps by the early 1980s...
...Union now would like nothing better than to be left alone to solve its internal problems-housing is scarce and education limited-and to enjoy the benefits of its oil money. Fujeira and Umm al Qaiwain are little more than fishing villages surrounded by desert, but Dubai and Abu Dhabi (each of whose capitals has the same name as the sheikdom) have lavish international airports...