Word: kaissouni
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Sudden Tornado. Last week the festering resentment finally broke into a shrill serenade of street violence that escalated to the worst riots Egypt has witnessed since King Farouk was dethroned 25 years ago. The trigger: an announcement by Deputy Premier for Economics Abdel Moneim Kaissouni of sharp cutbacks in food subsidies. That, in turn, meant price increases in government stores of as much as 50% for a loaf of bread, while the cost of sugar leaped 25%, tea 35% and bottled gas, which Egyptians use for cooking and heating, 50%. In a country where the average wage is only...
...furious poor of Cairo, Alexandria, Suez and a string of smaller towns, hearing Kaissouni's announcement, poured into the streets in a 48-hour rampage. "Dismayed and distraught," Sadat hurried back to the capital from his winter home at Aswan and ordered troops to back up his besieged riot police. For one of the few times in his six-year administration, Sadat was apparently stunned and frightened by the violence of the Egyptian masses. On the drive from a helicopter pad to his office, his swift-moving convoy was guarded by three select commando battalions and two armored units...
...president is Abdel Moneim El-kaissouni, onetime Egyptian Deputy Premier under Nasser...
...Arab bankers stress that their main aim is to channel into long-term investments a growing share of the oil money flooding the Mideast ($12 billion in 1971, an estimated $60 billion a year by 1980). Says El-kaissouni, a graduate of the London School of Economics: "This kind of mixed Arab-European bank is a way for the Arabs to have a greater share in the management of their funds and a greater participation in the profits." He also sees the banking partnerships as a triangle involving "the technical financial skills of Europe, the capital of the Arabs...
...their way in the endless committee meetings. But the resolutions meant little without the backing of the industrial nations that carry on 80% of the world's trade. Working against the June 15 adjournment deadline, the conference's president, Egypt's Deputy Premier Abdel Moneim El-kaissouni, and secretary general, Argentine Economist Raul Prebisch, used their skills as suave fixers ,to salvage some things. The industrial nations' delegates made several soft compromises. By supporting proposals to reconvene the trade meeting every three years and to set up a small secretariat at Geneva, they moved toward creating...
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