Word: qatar
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...chalet at St. Moritz last week, the Shah of Iran conferred a medal, the first-class Taj, or crown, on his finance minister Jamshid Amuzegar. The dapper, Cornell-trained Amuzegar had led the six oil-producing nations of the Persian Gulf-Iran, Iraq, Kuwait, Saudi Arabia, Abu Dhabi and Qatar-in wresting an enormous increase in payments from 23 international oil companies, 20 of them American. In fact the Shah, who had guided the negotiations over the gold telephones installed at his desk and bedside in the royal palace, had good reason to be pleased with himself as well...
...companies operating in the Middle East and North Africa are negotiating as a group* -a precedent made possible when the Justice Department agreed to waive the antitrust laws for U.S. participants. The companies are confronting representatives of the main oil-producing nations: Iran, Iraq, Kuwait, Libya, Abu Dhabi, Qatar, Algeria, Saudi Arabia, Indonesia and Venezuela. In their quest for money the producing countries can bargain with muscle because they can always threaten to cut off shipments to Europe, which gets 85% of its oil from them, and to Japan, which depends on the Middle East for 91% of its supplies...
Strength Without Strains. More commonly, continued surpluses reflect national economies that are gaining strength without strains. Copper-rich Zambia's regular surpluses have enabled the government to improve roads, education and health facilities. The oil-producing Arab states of Kuwait, Saudi Arabia, Abu Dhabi and Qatar amassed hefty surpluses as usual in 1967, despite some losses from the Mideast war. Instead of squandering the money on palaces, limousines and concubines, the rulers of the four Persian Gulf states today split the oil-based riches between imported consumer goods (food, clothing, shelter) for their populace, new facilities such as water...
...must also leave the camp. Roped off from Lebanese jobs by an inability to get work permits, just as they are isolated from Lebanese daily life in modern Sidon, hundreds of them have left to take jobs in Saudi Arabia and such oil-rich sheikdoms as Kuwait, Bahrain and Qatar, sending part of their paychecks back to their families. Several hundred others have gone by secret mountain trails into Syria, where they undergo training with El Fatah or one of the other terrorist groups that send commandos into Israel to avenge their fathers' sufferings by murder, arson and sabotage...
...consent of Intra's major creditors, notably that of Kuwaiti Prime Minister Jaber al Ahmed as Sabah, whose countrymen had the largest stake ($40 million) in the bank. Kuwaitis will own some 35% of the stock to be issued by the new organization, the Lebanese government 25%, Qatar sheiks 7%, Lebanese depositors most of the balance. U.S. taxpayers also stand to gain from the rescue. The Agriculture Department's Commodity Credit Corporation, which had $22 million in Intra as an export loan to help dispose of surplus U.S. grain, will receive a 13% stock interest. The C.C.C. also...