Word: saud
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Dates: during 1950-1959
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...things temporarily quieted down, it became increasingly clear that the pivotal behavior of one man played a large part in rescuing young King Hussein from Nasser and his hotbloods. The man: King Saud of Saudi Arabia, Protector of Islam's Holy Places. From the moment Nasser seized and then blocked the Suez Canal, casually cutting off much of Saudi Arabia's oil income in the process, Saud began to see that there would be no place for him or any king in the Arab "nation" Nasser talked about. Nor could Saud abide the sight of Communist influence that...
...Assassinate an Ally. Out of secretive Saudi Arabia last week came a well authenticated story of the risk that King Saud himself took in doing so. Saudi security police in Riyadh arrested a gang of ex-Palestinian and Egyptian plotters armed with guns, grenades and explosives. The men admitted planning the King's assassination, and were said to have implicated Egypt's military attaché, Colonel Ali Khashaba. The King's reaction was to kick out a flock of Egyptians and ex-Palestinians (who in his illiterate country dominate administration services and the schools). Then he backed...
When it came down to the crucial moment, Nasser and the Syrians proved unwilling-or unable-to make an all-out effort to destroy Hussein. To do so would have forced an open split with King Saud, perhaps would have compelled him still further toward Iraq and the West. This week there was a flurry of flying to save faces.. Syria's Kuwatly popped in on Nasser; together with Nasser's top political adviser, he went on to Mecca to see Saud. They were all desirous of re-creating that somewhat bogus show of Arab unity proclaimed...
...Split. Until 1950, Aramco paid Saudi Arabia about 20% royalty on all oil profits. Then, vexed that the U.S. was getting more in income taxes on Aramco profits than Saudi Arabia got in royalties, and spurred by a 50-50 oil-profit split in Venezuela, King Saud decided that Saudi Arabia should get 50% of the oil profits. But instead of increasing royalties, Saudi Arabia passed an income tax which, together with royalties, would take half of Aramco's profits...
Treasury Approval. Aramco says that changing conditions forced it to accept the Saudi Arabian income tax. King Saud insisted on an income tax instead of a royalty, the company maintains, because he wanted to get more money, yet give Aramco incentive to grow in Saudi Arabia by leaving its profit return untouched. Aramco points out that the U.S. still derives substantial benefit from taxes levied on the company's declared dividends and on dividends to stockholders of the four U.S. companies that own Aramco...