Word: kuwaitis
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...case involved the supertanker Salem, registered in Liberia, which offloaded 180,000 metric tons of Kuwaiti oil at the South African port of Durban in late December 1979. In Parliament last week, the South African government acknowledged that it had paid $45 million for the oil. The ship then sailed for Europe but sank mysteriously in the Atlantic off the coast of Senegal on Jan. 17,1980. The trouble was that the cargo it had left in Durban had actually been owned all along by the Shell International trading company, and the Salem was supposed to have been carrying...
...Israelis had set up observation posts atop several seven-story buildings at the Kuwaiti-embassy traffic circle, not far from the Shatila camp. Last week TIME'S Suro visited the roof of one of these buildings where Israeli troops had been seen. He found discarded food cans, Israeli newspapers and an unobstructed and panoramic view of the area in the Shatila camp where most of the killings had taken place...
...Kuwaiti bid once again raised the question of just how much OPEC money is being invested in U.S. industry and whether the infusions of funds are good or bad for the businesses involved and for the U.S. as a whole. As soon as the Kuwaiti proposal was announced, New York Democrat Benjamin Rosenthal, chairman of the House Subcommittee on Commerce, Consumer and Monetary Affairs, which has been holding hearings on the scope of OPEC investment in the U.S., asked the Treasury to halt the takeover pending an investigation of whether the merger is really in the national interest...
...market value, the right to buy or sell a quantity of stock at a fixed price within a specified period, usually anywhere from a few hours to nine months. The heavy volume of transactions in Santa Fe options suggested that investors with prior knowledge of the pending Kuwaiti offer were buying in anticipation of an eventual hefty price rise in the stock. When the takeover was announced, the price of Santa Fe common stock jumped 17 points in a single day, to $42.38 a share, automatically driving up the value of the options as well...
...cashed in on the deal, the acquisition should be beneficial for both Santa Fe and Kuwait. Though it has grown at a compound annual rate of nearly 23% since 1950, Santa Fe in recent years has been forced to invest larger and larger amounts of capital to keep expanding. Kuwaiti ownership would give the firm the financial clout to broaden its presence in such lucrative markets as the British North Sea, where it holds a 16% interest in the Thistle Field...