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...stoutly maintaining that they had not used poison gas and that the charges had been concocted by the Iranians to excuse their battlefield defeats. The Iraqis continued to deny the charge, though they did not rule out the possible use of chemical warfare in the future. Said Major General Sabah al Fakhri, commander of Iraqi forces east of the Tigris River: "If a superpower threatened the U.S., what would it do? We too have our dignity and honor. We are not going to meet the invader with flowers and perfume. We are going to use all available means...

Author: /time Magazine | Title: The Gulf: Clouds of Desperation | 3/19/1984 | See Source »

...Santa Fe could turn out to be Kuwait's most successful diversification move yet. The nation's government-owned Kuwait Petroleum Corp., which is directed by Sheik Ali Khalifa al-Sabah, the country's Oil Minister, already operates a fleet of more than a dozen supertankers. Earlier this year, the firm entered into joint ventures with U.S. companies, giving it a $185 million share in a Hawaiian oil refinery as well as participation in a U.S. oil exploration group. Kuwait, though, has not always been able to buy its way into the American market.Its 1980 attempt...

Author: /time Magazine | Title: Forming Kuwait Oil Inc. | 10/19/1981 | See Source »

With Santa Fe, however, the courting was cordial from the start. Preliminary talks first began last summer between Santa Fe Chairman E.L. Shannon Jr. and Sabah, who initially proposed that Kuwait acquire a 25% stake in the firm to make use of the company's vaunted engineering expertise. Discussions eventually progressed to an agreement in principle to buy the whole company. Santa Fe's board of directors, which includes former President Gerald Ford, gave its approval last week, and shareholders are expected to agree to the deal at a special meeting on Dec. 1. Kuwait will then have...

Author: /time Magazine | Title: Forming Kuwait Oil Inc. | 10/19/1981 | See Source »

Citibank did not trade the portfolio of stocks heavily on a day-to-day basis, which upset Sheik Salem Abdullah Al-Ahmed Al-Sabah, Kuwait's director of U.S. investments. "If you do not do it our way," he wrote to the bank in December, "we'll transfer the funds. There are lots of good banks who want a chance to help us." The Kuwaiti government became more disturbed with Citibank when some confidential memos and the lists of its holdings were leaked to Financial Writer Dan Dorfman. In retaliation, Kuwait last month transferred the $4 billion stock...

Author: /time Magazine | Title: Dividends: A $4 Billion Bit of Pique | 9/28/1981 | See Source »

...immediately contradicted Iraq and insisted that King Khalid's phone call had expressed only his "concern and good brotherly feelings" for Iraq and prayed to "God Almighty to grant what is best for our Arab and Muslim world." Kuwait's ruling Emir, Sheik Jaber al Ahmed al Sabah, implored both combatants to pursue peacemaking channels. Like Kuwait, both Bahrain and the U.A.E. denied reports that they had allowed the Iraqi air force to use their bases and adamantly insisted that they too were strictly neutral...

Author: /time Magazine | Title: World: On the Fretful Sidelines | 10/13/1980 | See Source »

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