Word: dhabi
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...chalet at St. Moritz last week, the Shah of Iran conferred a medal, the first-class Taj, or crown, on his finance minister Jamshid Amuzegar. The dapper, Cornell-trained Amuzegar had led the six oil-producing nations of the Persian Gulf-Iran, Iraq, Kuwait, Saudi Arabia, Abu Dhabi and Qatar-in wresting an enormous increase in payments from 23 international oil companies, 20 of them American. In fact the Shah, who had guided the negotiations over the gold telephones installed at his desk and bedside in the royal palace, had good reason to be pleased with himself as well...
...companies operating in the Middle East and North Africa are negotiating as a group* -a precedent made possible when the Justice Department agreed to waive the antitrust laws for U.S. participants. The companies are confronting representatives of the main oil-producing nations: Iran, Iraq, Kuwait, Libya, Abu Dhabi, Qatar, Algeria, Saudi Arabia, Indonesia and Venezuela. In their quest for money the producing countries can bargain with muscle because they can always threaten to cut off shipments to Europe, which gets 85% of its oil from them, and to Japan, which depends on the Middle East for 91% of its supplies...
...active hotel builders. Inter-Continental, which is owned by Pan American World Airways, is building in Prague and Bucharest, and this month the 360-room Duna Inter-Continental opened in Budapest. Hilton International, which is owned by Trans World Airlines, this year will add four more hotels from Abu Dhabi to Zurich to its chain of 51 in 33 countries. United Air Lines plans to acquire Seattle-based Western International Hotels to form another formidable travel and lodging combine. An American Airlines subsidiary has just opened the 21-story Chosun in Seoul...
Burma's building is shaped like a royal catamaran barge, Hawaii's like a volcano, the Ivory Coast's like elephant tusks. Even the tiny Persian Gulf sheikdom of Abu Dhabi has a pavilion-because, the Expo guidebook notes, it "hopes to gain new friends in the world by taking part." Japanese Architect Kenzo Tange, in charge of overall planning, claims that he likes the clashing effects. The only building that really angers him, he says, is a traditional seven-story pagoda erected by Japan's Furukawa conglomerate...
Until recently, when oil began spurting out of Abu Dhabi and Dubai, the sheiks needed little protection. Who, after all, wanted a flat, trackless desert coated with gravel and hospitable only to a few grazing oryxes, hares and gazelles? Yet the whole Gulf region is estimated to have some 60% of the free world's proven oil reserves, and the Trucial States are sitting on a good deal of it. After only six years of pumping oil, Abu Dhabi has the world's highest per-capita income...