Word: kuwait
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Dates: during 1960-1969
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...I.P.C., but every Western outfit in the Persian Gulf area may soon be paying more. Iran is demanding that its producers increase their output by 17.5% this year to boost its royalties to $625 million. Iraq wants production increased by 10% to bring its revenues to $372 million. Kuwait has decided that its $636 million annual take is not enough...
Widespread Repercussions. At its semiannual meeting in Kuwait, the Boy cott Office of the 13-nation Arab League (Algeria, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Saudi Arabia, Sudan, Syria, the United Arab Republic and Yemen) voted for a ban by all Arab countries on doing business with all three companies. The action against Coca-Cola came in retaliation for the granting of an Israeli bottling franchise to Manhattan Banker Abraham Feinberg, who is also president of the Israel Development Corp., which promotes Bonds for Israel. RCA angered the Arabs by allowing phonograph records to be pressed in Israel. The move...
Britain moved first. Unhappy over Bedas' refusal to buy British Aircraft VC10s for Intra-owned Middle East Airlines (MEA), Whitehall pressured Kuwait into transferring funds away from Intra and into Britain to shore up the pound. Then the government of France, which owns 15% of MEA, covets the rest, and doesn't like pro-American Bedas in any case, blocked an Intra bid to build a seriously needed new European headquarters in Paris. Next Russia, always glad to oblige in such matters, had its Narodny Bank withdraw the $5,000,000 it had deposited with Intra. Narodny staffers...
...country when the crisis struck, has stayed out, but has been scouring the U.S. and other financial markets, where he has raised a reported $70 million. And if the bank wants to raise cash by selling off such assets as MEA, the interested buyers include France, Russia, Kuwait and even Stavros Niarchos. Intra, in short, claims it could open tomorrow if it were allowed to. Despite a heavy dose of press criticism, Yaffi's government is going slow. "We are working hard," says Intra's Salha. "But when the cow is down, the butchers get out their knives...
...such a showdown, Nasser could count on Algeria, Syria, Iraq and Sallal's part of Yemen-all more or less socialist, Soviet-armed regimes. Feisal would have on his side Western-equipped Jordan, Bahrain, the tiny sheikdoms of the Persian Gulf, and perhaps Morocco, Tunisia and Kuwait. Non-Arab Iran, whose Shah despises Nasser, would probably aid Feisal enthusiastically. Anxious to remain neutral are Lebanon, Libya and the Sudan. But it may never come to a showdown. The meeting around a fire...