Word: nasser
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...Anglo-French attack on Suez came, Saud, in the opinion of U.S. observers, did what he had to do-and no more. He closed down the pipeline to Bahrein (a British protectorate), banned sale of Saudi oil to British or French buyers, broke relations with Britain and France, allowed Nasser to use Saudi airfields to fly his Russian jets and bombers to safety, and offered Saudi troops (Nasser declined them as unneeded). In return, he had one urgent favor to ask of Nasser: that he ask the Syrians not to blow up Tapline, the pipeline that carries a third...
...Left Out. In Cairo last week. Nasser acted like a man frantically afraid he was being left out. With Saud about to arrive, he hastily called his ally, Premier Sabri el Assali of Syria. Young King Hussein flew over from Jordan. Nasser's purpose: to talk them into replacing the subsidy Britain has for so long paid Jordan to support its Arab legion and base troops there. Nasser obviously feared that, with U.S. help under the Eisenhower doctrine. Saud might do it alone, forming a U.S.-backed partnership with Jordan that had no place for Nasser. It took Nasser...
Just what the U.S. and Saud could do for each other in the Middle East was not yet clear to either of them. What was clear was that just now neither could usefully declare himself out loud: Saud, for example, could not be expected to denounce Nasser...
...neither pro-East nor pro-West," insisted Egypt's Gamal Abdel Nasser once again last week. The day before, with the proclaimed purpose of exterminating Western influence and "foiling imperialist plots," the Dictator of the Nile announced the "Egyptianization" of all British and French banks and insurance companies in the country. All other foreign banks and companies, including the U.S.-owned First National City Bank branch in Cairo, were given five years to Egyptianize, i.e., turn over all ownership and operation to native-born Egyptian citizens...
...control the taken-over firms, and to provide him with "royalties" and jobs for hangers-on, Nasser set up a new state "Economic Organization." Since most of the firms' Egyptian assets consisted largely of operating capital, office equipment and warehouse stock, Nasser acquired only their going value. Nasser promised to pay compensation, but hinted that he might first deduct claims against Britain and France for war damage. Hardest hit: the British-owned Barclays Bank, which owned 44 branches in the country...