Word: persian
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...close of their three-day meeting, those gathered in Casablanca agreed only to send emissaries to mediate between several feuding Arab states, including Syria and Iraq, and to condemn Iran for its role in the five-year-old Persian Gulf war. In their final communiqué, the summiteers blandly "noted with appreciation" explanations given by Jordan's King Hussein and by Yasser Arafat, chairman of the Palestine Liberation Organization, of a Middle East peace initiative that the two men put together in February. Even so, to the optimistic Jordanians, that relatively opaque reference amounted to a tacit go-ahead for their...
When the OPEC oil cartel was at the height of its power in the 1970s and early 1980s, Persian Gulf banks flourished like palm trees in a desert oasis. Arab governments, rich on oil revenues, were financing projects ranging from airports to universities, and the influx of money caused bank assets to grow 20% a year. Newly prosperous gulf families built banks as status symbols to impress their neighbors. The United Arab Emirates, which has a population of 1.3 million, had 53 banks in operation last year. Said an American economist who has studied the financial development of the Middle...
Despite its difficulties, the Persian Gulf financial community is not about to crash. It has holdings of an estimated $70 billion, and 34 of the world's 500 largest banks are located there. But prospects for future growth are dim. The Iran-Iraq war has made raising funds more difficult. The $94 billion collapse of Kuwait's unofficial stock market in 1982 badly undermined confidence, and repercussions continue to be felt. Finally, Western bankers will be leery about doing business there until legal uncertainties are clarified. A British lawyer working in Bahrain points out that it took the West nearly...
...Dubai, the airline and its base at the airport--which is undergoing a $4 billion expansion--are just part of a bigger plan. They fit into the "superlative" strategy of the ruling Maktoum family. The tiny emirate on the coast of the Persian Gulf--once a significant trading hub--is now spending billions of dollars to become the world's high-end playground. And getting Emirates' brand known worldwide is part of that plan: last year the airline spent $150 million to buy the naming rights for a new 60,000-seat stadium for the popular London soccer team Arsenal...
...Dubai, the airline and its base at the airport?which is undergoing a $4 billion expansion?are just part of a bigger plan. They fit into the "superlative" strategy of the ruling Maktoum family. The tiny emirate on the coast of the Persian Gulf?once a significant trading hub?is now spending billions of dollars to become the world's high-end playground. And getting Emirates' brand known worldwide is part of that plan: last year the airline spent $150 million to buy the naming rights for a new 60,000-seat stadium for the popular London soccer team Arsenal...