Word: suez
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Dates: during 1980-1989
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...Dhabi and other Middle East locales refused to admit the suspect sheep, and Jordan and Egypt would not even take them free. An Italian company finally offered to take them on consignment for resale in Europe, but Egypt balked at allowing the sheep through the Suez Canal and escorted the ship out of Egyptian waters. Last week the firm posted a $250,000 guarantee that no sheep or carcasses would be dumped in the canal, and the ship set sail for Italy. That seems like a happy ending, except possibly from the point of view of the sheep...
Belgians were outraged when Italy's Carlo De Benedetti, 53, the aggressive chairman of Olivetti, announced plans last January to take control of Societe Generale de Belgique, their country's largest and most diversified company. Last week, with the help of Compagnie Financiere de Suez, a French merchant bank, they managed to stop him -- at least for the moment...
...France the conservative government of Premier Jacques Chirac took a different kind of stock-market beating. Only two days before Black Monday, the government had successfully completed the $2.6 billion sale of state-owned Compagnie Financiere de Suez, a financial combine. Last week Suez's debut on the battered Paris Bourse was suddenly postponed. Reason: in the continuing stock slump, shareholders would be hit by immediate losses. To cushion the blow, the 1.6 million small investors who bought Suez shares may eventually be allowed to pay in installments...
Though it occupies one of five permanent seats on the United Nations Security Council, the Soviet Union has long been one of the U.N.'s pickier dues payers. Moscow has consistently refused to ante up for special operations that it opposed politically, starting with a peacekeeping force at the Suez Canal in 1956. But last week the Soviets announced that they will mop up their red ink, paying a total of $197 million in outstanding debts owed for peacekeeping operations in the Middle East dating back to 1975. Moscow's check will erase its current IOUs, but not its historical...
...Well," said Willie, freshening up his cup with a jolt of hootch. "He said he thought the Egyptians had a right to the Suez Canal...