Word: trading
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Dates: during 1970-1979
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...they used far more heating and cooling energy than the buildings they replaced. Now owners are scrambling to make skyscrapers more energy efficient with such devices as heat pumps, reflective film on windows and costly refinements of lighting systems. (At present, a late-staying worker at Manhattan's World Trade Center who does not have a lamp at his desk must switch on a quarter-acre of lights.) More important, the Federal Government's edict lowering thermostats to 65° F has left windowless inner rooms relatively tolerable, while prized corner offices, symbolic of executive success, sometimes are Siberian. An executive...
...Egypt's economy today is a mix of unexpected strength and too familiar decay. The muscle is almost all in the country's robust foreign receipts. Despite the aid and trade boycott mounted against Egypt by other Arab nations after the peace treaty signing, Cairo can easily meet its foreign exchange needs. The largest source of funds is the money sent home by Egyptians working abroad; this will total $2 billion in 1979, up from just $200 million six years ago. Suez Canal revenues will bring in $600 million and could rise to $1 billion a year...
Then there is oil. An exporter only since 1974, Egypt will sell $1.1 billion worth of crude this year, accounting for 40% of its trade income. Never a member of OPEC, the country doubled the price of its oil early this year and now charges a robust $34 per bbl., except for what is sold to Israel. Egypt reportedly agreed to sell oil to the Israelis at a price of roughly $27 per bbl. in the hope that this would encourage investment in Egypt by Jewish-American businessmen. Oil-exploration deals have been signed with a number of Western firms...
...income, Egypt has not been hurt economically by the loss of the $800 million or so in Arab aid it used to get annually, or by the Arab countries' refusal to do business with Cairo; before the boycott, those states accounted for only 7% of Egypt's trade. Arab anger remains high; the Egyptians expect that all of their postal, telephone and telex links to other Arab countries, as well as the remaining airline flights, will be severed in March, when Egypt and Israel plan to open embassies in Jerusalem and Cairo. Still, some top Egyptians believe that...
...influence was limited to the handful of people who read his poetry. When the Beatles headed east in 1966-68, they affected tens of millions with their celebrity and music. They also laid the foundations of the international guru business. Mehta has an impish eye for the spirit trade; a multinational convocation of celibates meets in Delhi under the motto ROYALTY is PURITY PLUS PERSONALITY; downtown, hundreds of Children of God are demonstrating for the principle of making love for Jesus. A California touch therapist attends a session in an ashram only to discover that his Indian counterparts...