Word: kuwaiti
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...sand," says Les Aspin, chairman of the House Armed Services Committee. General George Crist, who directed U.S. planning for defense of the Persian Gulf until he retired in 1988, agrees: "We have to show Saddam Hussein he can't take another step." The question is how. Freezing Iraqi and Kuwaiti assets and officially deploring Saddam's behavior are sensible first steps, but largely pro forma. More pressure will be required for Saddam to feel the bite...
...vote also follows decisions by other world powers to impose similar sanctions on the Iraqis. The United States, Japan and the European Community have already voted to boycott all Iraqi and Kuwaiti imports, while both the Soviet Union and China announced last week that they will halt arms shipments to Iraq...
Administration officials said they could not estimate the value of Kuwaiti and Iraqi assets affected by the freeze, but one Treasury official described them as "significant...
KUWAIT. Last week's election was called to select a 50-seat National Council that is supposed to develop guidelines for the future of Kuwaiti democracy. Kuwait has been without a parliament since 1986, when the ruling family suspended it. Nonetheless, ex-parliamentarians called for a boycott of the election because they believed the council would be powerless; although government candidates took all 50 seats, only 65% of the electorate voted...
Saks' renown stands in sharp contrast to the relative obscurity of its new owner. Investcorp was started in 1982 by Nemir Kirdar, a U.S.-educated Iraqi who had worked for Chase Manhattan Bank, and Abdul-Rahman Salim Al-Ateeqi, a former Kuwaiti Finance Minister. The company's 12,000 shareholders, none of whom own more than a 0.5% stake, constitute a Who's Who of Middle Eastern tycoons and royalty. The firm's philosophy is to make large, friendly investments, which, so far, have been concentrated in the U.S. and Europe...