Word: shahs
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From its outset, the papal pilgrimage had proceeded at a headlong pace. Paul's first stop was at Teheran airport in Iran, where the Pope greeted a small crowd of Iranian Roman Catholics and conferred for 30 minutes with Shah Mohammed Reza Pahlevi. It was long after midnight before the papal plane reached Dacca, where Paul stopped only long enough to deliver a message of sympathy to the stricken East Pakistanis and a contribution of $10,000 toward the relief of the starving victims of the recent cyclone and tidal wave. Even in the air, the Pope was busy...
There were six reigning monarchs: Emperor Haile Selassie of Ethiopia, the Shah of Iran, Queen Juliana of The Netherlands, King Baudouin of Belgium, Prince Rainier of Monaco and Grand Duke Jean of Luxembourg. Charles, Prince of Wales, was seated among other young royalty, including Norway's Crown Prince Harald and Sweden's Crown Prince Carl Gustav. From what was once French Africa came leaders and statesmen from 17 now independent nations, including Senegal's Léopold Sedar Senghor and the Ivory Coast's Félix Houphouët-Boigny, who revered De Gaulle...
During their visit, the American businessmen were scheduled to be received by the Shah. To encourage more foreign-capital inflows, the Iranians announced that private investors will henceforth be allowed to own majority stakes in joint ventures with the government, and that special export subsidies will be granted for products that they make in Iran and ship abroad. Said Economics Minister Hushang Ansary: "We will give investors ample opportunity to get wealthy...
Wrung Out. The Shah's current five-year plan calls for $10.8 billion in development spending. Oil, which is the economy's basic fuel, must pay much of the bill. Last year the Shah demanded slightly more than $1 billion in revenues. To meet that goal, the European-American consortium that brings out more than 90% of the nation's oil increased production by 14.8% to well over 1 billion bbl. a year. But with the glut in world markets, the consortium could sell only enough to raise $930 million and had to make up the difference...
...year for four years, rose 3.6% in 1969, reflecting in part higher costs for essential imports like steel. Still, Iran's credit abroad continues to be excellent, largely because of its oil revenues. Whatever the pressures on the economy, they are no match for the will of the Shah, who is determined at all costs to transform Iran into a modern state...