Word: qatar
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...many approved applicants got cold feet when it came their turn, either out of reluctance to live under Israeli rule, or for fear that they might be cut off from remittance checks sent to them by relatives working in the high-paying oil fields of Kuwait, Saudi Arabia and Qatar. All of which caused the refugee flow to slow to a trickle. But for the time being, it will continue, a reminder to the world that Israel has not really removed the welcome...
...week, the overriding economic word was oil, as Arab states, which produce 30% of the world's supply, decided to use their wells as weapons. Iraq, Libya and Algeria cut off all oil shipments, Kuwait and Saudi Arabia embargoed shipments to the U.S. and Britain, and small Qatar refused to load the ships of either nation. The situation seemed most serious for Britain, which gets two-thirds of its oil from the Arabs and has only a 30-day stock on hand. France and Italy, neither of whom was singled out for retaliation by the Arabs, count on their...
Founded in 1960, OPEC now has eight members-Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia and Venezuela-and controls 90% of the world's oil exports. "Oil is the only resource that God gave us," says OPEC's secretary-general, Fuad Rouhani, 56. "We are not so much underdeveloped nations as we are underpaid nations." Having rebuffed the oil industry's big eight (five of which are U.S. companies), OPEC plans a meeting in the Saudi Arabia capital of Riyadh later this month to decide what is next...
Five times a day for the past 30 years, thin, threadbare Sheik Shakhbut bin Sultan faced west, bowed low, and prayed for an oil strike. His realm of Abu Dhabi was desperately in need of some good luck. Up and down the Persian Gulf, the states of Qatar, Saudi Arabia, Kuwait and Iran were rolling in oil wealth. But year after year, Abu Dhabi's 25,000 sq. mi. of sand, date palms and barren offshore islands just got hotter, more humid and windswept than before...
...Beirut banks by cutting loan rates from 9% to 6%. To gain stature for his upstart bank, he convinced Bank of America that it should come into his trade-financing op erations, became correspondent for New York's venerable Chase Manhattan Bank, and opened branches in Syria, Iraq, Qatar and Jordan. In 1958, when near civil war halted Lebanese banking for more than three months and most of his competitors sat brooding over their ill fortune, Bedas took advantage of the lull to set up a branch in London and an affiliate bank in Geneva...