Word: arabization
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...stocky, straightforward Texan named John Whitfield Mecom. At 53, Mecom has amassed assets of between $400 million and $500 million, reaped largely from 30 years of roaming the world in search of oil. Last week, on yet another search, he started drilling in Jordan, one of the few Arab nations where oil has not been found...
With such goods, the United Arab Republic has built an export business that this year will total $500 million-but that is not enough. Egypt is still forced to import so many necessities that it runs a perennial trade deficit. To help wipe it out, the Egyptians are selling hard to nations as distant as Norway and the Philippines, shipping tires to Czechoslovakia and China, and working successfully to overcome earlier complaints of inferior quality. The Egyptians look with great expectations to the emerging African market, which they hope will be a major outlet for Egyptian goods...
...Common Market in Europe and the Aswan Dam in Egypt. When Kuwait's government was pondering what to do with its sudden oil riches, it summoned Fakhri Shebab, an Iraq-born Oxford don; he conceived an $860 million regional-development fund that has extended loans to five Arab nations. Nicholas Kaldor, a Hungarian-born Briton, has drawn up budgets and tax programs for India and Ghana...
...UNITED ARAB REPUBLIC. Gold amulets and toe stalls found on mummies fill the small museum, but the most beautiful Egyptian treasure is a tiny (15.6 in.) gold coffin inlaid with lapis lazuli and carnelian that once contained the entrails of King Tutankhamen. A snack bar serves gawalfa juice, lamb kabob and Egyptian coffee...
Deak once sat atop a bundle of old Israeli pounds that had been called in by Israel and were thought to be worthless. He managed to dispose of them in -of all places-Arab Lebanon. What happened to the money after it reached Beirut? In Deak's business, one does not ask such questions...