Word: sheikdom
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Dates: during 1980-1989
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...lesser oil producers in the gulf (411,000 bbl. a day), but the population is also small (250,000, of whom only 60,000 are native Qataris). The country has been found to have vast natural gas reserves, though at current prices development is considered uneconomical. Still, the sheikdom has taken steps to diversify by developing petrochemical, shipping and steel industries. "We do not want to be a short-range country," says Saeed Mis'hal, a Palestinian who heads the Industrial Development Training Center...
Bankers still do not mention it in the same breath with Tokyo, Zurich, London or New York. But some day they may. Bahrain, a small Arabian Gulf island sheikdom off the oil-rich coast of Saudi Arabia, is rapidly becoming an important financial center. Since the 1973 quadrupling of petroleum prices, 120 banks, including such international giants as Bank of America, Citibank, Chase Manhattan and Bank of Tokyo, have opened offices in Bahrain to handle the gusher of oil money flowing into the Arab world...