Word: persian
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...goes well, which is no sure thing. The economists in the TIME forum warned that the U.S. faces a minefield of unprecedented risks that could worsen the recession and prolong it through next year and beyond. Chief among them is the threat of a drawn-out war in the Persian Gulf. That could push the price of oil, which closed at $25.92 per bbl. last week, well past the $41.40-per-bbl. peak that it hit in October. Another serious threat is the possibility of a crisis in the U.S. banking system, which is awash in bad loans and increasingly...
...median forecasts of five economists suggest that the economy will rebound by mid-1991, assuming that the U.S. avoids a protracted war in the Persian Gulf...
...mere generation ago, the people of the Arabian shore of the Persian Gulf led a life little different from the one their ancestors had led since the advent of Islam. During migrations in search of water and trading locations, mainly from the Najd region of what is today the central part of Saudi Arabia, a group of tribes called the Bani Utub settled the town of Kuwait (in simple translation, Little Fort) in the early 1700s. With trade the major source of income, the tribes established a unique political system. Of the three most , influential families, the Khalifas...
...listing of subjects likely to arouse passion, accounting ordinarily might come in dead last. But nothing about the Persian Gulf crisis is ordinary, and some angry national and international arguments are breaking out about what, at least in part, are questions of accounting: How much more will the Pentagon really have to spend on Operation Desert Shield? Are certain allies, notably Saudi Arabia, getting rich from the crisis or actually losing money? Are others, pre-eminently Germany and Japan, falling behind even on their relatively piddling pledges...
...days when high-level U.S. and Soviet officials met twice a year; last week's visit in Houston was the 23rd meeting between Secretary of State James Baker and Shevardnadze, who managed in their whirlwind consultations to cover everything from Angola and Afghanistan to arms control and the Persian Gulf crisis. During the final Rose Garden ceremony on an unseasonably warm December afternoon, President Bush announced that he would travel to Moscow in mid-February for a fourth summit with Gorbachev, with the hope of signing a START treaty reducing the superpowers' arsenals of long-range nuclear weapons...