Word: yamani
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...million in start-up capital and four years later another $50 million. Investcorp's list of founding shareholders reads like a Who's Who of the gulf, including the names of dozens of leading businessmen and members of the region's ruling families, among them Sheik Ahmed Zaki Yamani, the former Oil Minister of Saudi Arabia, and seven members of the Saudi royal family. The vips generated tremendous interest, and when the new bank sold a large chunk of its stock to the public, prospective buyers in Bahrain queued up at dawn...
...public programs have made since 1982 and what Harvard is losing. We wish we could convey the pleasure some of Harvard's older alumni expressed as they went through "The Jewish Experience at Harvard and Radcliffe" saying "Harvard finally recognized its past errors." We witnessed Sheikh Ahmed Zaki Yamani walking through that exhibition, just as a group of Jewish alumni were viewing "Harvard's Arabian Nights." We were present when Queen Noor of Jordan opened the exhibition "Monumental Islamic Calligraphy," brought to the museum at the request of then-NELC Professor Annemarie Schimmel, and met with Mrs. Joy Ungerleider-Mayerson...
...historic petroleum price plunge of 1986 could be traced to September 1985, when Saudi Arabia got fed up with its dwindling share of the world's oil market and decided to reverse completely its traditional strategy of holding back production to prop up prices. Oil Minister Sheik Ahmed Zaki Yamani raised crude output from about 2 million bbls. a day to 4 million bbls. with the aim of forcing rival oil producers like Britain to cut back to make room for the Saudis. But when competitors refused to budge, the world's oil glut rapidly increased and discounting became rampant...
...Petroleum Exporting Countries. Crude prices plummeted from $26 per bbl. in January to below $10 in April and remained under $15 for most of the year. The low prices distressed the Saudi royal family and provoked anger from other OPEC countries, prompting the Saudis in October to oust Yamani as Oil Minister after he had spent two decades as a leading OPEC strategist. With that, the Saudis abandoned their price-war tactics. When OPEC met in December, twelve of its 13 members, with Iraq dissenting, decided to cut production and sell their various grades of oil at fixed prices averaging...
Amid the furor, Yamani last week telephoned a close friend in Geneva, where OPEC meets and the former oil minister keeps an apartment. "What's there to say," Yamani remarked. "It's the King's decision, and that's life." He added that he would "be around" when the OPEC ministers reconvene in Geneva early in December. Yamani's friend was philosophical: "Here's one man who won't have to worry about keeping himself busy," he said. "Every headhunter ) in Big Oil must be after him." To be sure. Big Oil and Mr. Oil know each other well...