Word: saud
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Dates: during 1960-1969
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Long famed for its bleak deserts, eye-for-an-eye justice and profitable oil wells, Saudi Arabia last week had the added distinction of possessing two monarchs. Profligate King Saud, 62, who had reigned for eleven years, sulked in his ultra-modern Naziriyah Palace in the capital city of Riyadh. Just down the road in the Red Palace was Saud's half brother Feisal who two weeks ago was summoned to the throne by a fatwa, or religious edict, issued by a national council composed of 100 princes, assorted sheiks and the ulema (a body of learned...
Deathbed Oath. The two men have long been antagonists. Their father, the late King Ibn Saud once said, "I wish that Feisal had been born twins and Saud had never been born at all." Nevertheless, Saud was the oldest son and was therefore named Crown Prince. On his deathbed, Ibn Saud made Feisal swear on the Koran that he would not seek the throne as long as Saud lived...
Keeping the oath was not easy. As King, Saud squandered fortunes on his pleasures, chief of which were a huge harem. Next to women, Saud liked air-conditioned Cadillacs best, and next to Cadillacs, intrigue. In contrast, Feisal was almost a puritan: though thrice married, he lives with only one wife at a time and, for the past 20 years, his consort has been Turkish-educated Princess Iffat. He speaks fluent French and English as well as Arabic, and has tried to use his country's oil millions for the benefit of the people...
...pattern of Saudi Arabia has alternated between a few years of mismanagement and waste by nearly illiterate King Saud and then a few years of austerity under Feisal as Premier-until the King felt he could afford to get rid of him again. When Feisal was last called back to power in 1962 for another spell of reform, he decided to get tough. He cut down Saud's privy purse 30%, to a paltry $20 million a year. Cautiously progressive, Feisal also earmarked $500 million for schools, hospitals, roads and water projects. He promised to introduce movies next year...
Saudi Arabia's King Saud keeps some $20 million there, and Jordan's King Hussein has several secret accounts (he signs his checks on one account with a pen name, "The Eagle"). Such depositors appreciate the fact that Lebanon has one of the world's freest capital markets and a Swiss-like secrecy law so rigid that any loose-tongued banker can be jailed for two years. Beirut's safety has also impressed some of the usually suspicious sheiks of the Persian Gulf. Sheik Shakhbut of Abu Dhabi, who earns $1,000,000 a week from...