Word: arabization
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...mention of guns and pangas brought unhappy memories of the Mau Mau terror. Last year, under the Lyttelton constitution, Africans in Kenya were allowed to vote for certain members of the 58-member "multiracial" Legislative Council, which, it was hoped, would bring unity to the European, African, Asian and Arab citizens of the colony. Mboya and seven other Africans were elected to the "Legco" but, protesting that Negroes deserved at least 15 more seats, they refused to have any part in the government...
...shape, and refinery runs of Alberta crude, which comprises 90% of Canada's oil, are at a new low of 271,958 bbl. daily. Only in the Middle East is production still climbing; even there economists fear that oil companies out for quick profits, and Arab rulers anxious for heavier royalties from the wells are pushing production far beyond demand. As one Canadian oilman says, "There are simply not enough markets...
...daring mission. They were the directors of a new investment company called MIDEC -Middle East Industrial Development Projects Corp.-which represents capital from the U.S. and nine European countries. With field headquarters in Beirut, MIDEC's directors were looking for partners, and the partners they want are Arab businessmen who will set up and run their own enterprises, retaining majority ownership and control but getting help from MIDEC's capital and technical know-how. To old Middle East hands, the idea of Westerners joining in an Arab-controlled enterprise is as dangerous as a camel's kiss...
Into the Vacuum. The main obstacle for MIDEC is a longstanding Arab suspicion of Western domination, which has wrecked most other Western attempts at private enterprise. Propagandists rail so effectively against U.S. aid that it is becoming almost a sin to accept it. U.S. Government economic-aid programs are frequently considered politically ineffective, and private Western capital is steadily leaving the Middle East, except for oil companies, whose returns are great enough to justify putting up with the problems. Even Middle Easterners with money to invest generally salt it away abroad, or put it in quick-profit, nonproductive ventures. Only...
...meet the challenge, a short, jolly Dutchman named Paul Rykens, 69, retired board chairman of the giant Unilever, N.V. soap empire, called a meeting of European businessmen last April to explore the idea of investing on a minority basis in Arab business. When Rykens got a favorable reception, he took off on a quick tour to line up more than 80 European and U.S. firms, including such giants as the First Boston Corp., Kaiser Industries and the Rockefellers' International Basic Economy Corp. Rykens carefully avoided both governmental assistance and the oil industry, which might have aroused Arab resentment, then...