Word: suez
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Egypt, there was another display of rejoicing. President Anwar Sadat chose the seventh anniversary of the start of the 1967 Six-Day War to visit his troops on the east bank of the Suez Canal. Sadat clambered up a 50-ft. embankment to visit one of the Bar-Lev Line strongpoints established by Israel after the '67 war and recaptured by Egyptian forces last fall. He told his assembled troops, standing at attention beside their tanks in the desert: "October 6, dear sons, has changed the history of the world militarily, economically and politically." One sign of that change...
...Calcutta-ization." Following the Suez Canal's closing, which has cost Egypt an estimated $2 billion in lost revenues since 1967, the country has largely depended on tourism and agricultural exports for income. Egypt has also received subsidies and credits from Arab allies (notably Saudi Arabia and Kuwait) and substantial aid (mostly military) from the Soviet Union. Nonetheless, Egypt's foreign debt is now about $7 billion. This year's balance of payments deficit will probably be the same as last year's: about $2 billion...
...architects of the new Egypt is Osman Ahmed Osman, 57, the principal contractor on the Aswan High Dam, who after the war was named Minister of Housing and Reconstruction by Sadat. Osman's first assignment is a $6 billion reconstruction of the Canal Zone, including the cities of Suez, Port Said, Ismailia and reclamation of land on both sides of the canal. Once that is completed, Osman wants to build a system of concrete culverts beneath the Suez Canal (which is now being cleared by teams of Egyptian, U.S. and British divers) that will carry water from the Nile...
...canceled its promised financial support for Gamal Abdel Nasser's favorite project, the High Dam at Aswan, which was ultimately bankrolled by the Soviets. If Congress approves Nixon's request for money, which seems likely at the present time, $25 million will be used to clear the Suez Canal and $80 million to buy U.S. grains. With the remaining $145 million the Egyptians will rebuild war-demolished Suez City-an enormous project that could cost Egypt as much as $500 million. Israel will not object to an American contribution to the restoration of the devastated canal area since...
...strange sight-the 18,300-ton U.S. helicopter carrier Iwo Jima. For nearly two decades, the warships of America's Sixth Fleet have been regarded by Egypt as unfriendly and unwanted. But now the U.S. Navy is playing a major role in helping the Egyptians clear the Suez Canal of the explosives and wreckage that have blocked it since the Six-Day War of 1967. TIME's Cairo Bureau Chief Wilton Wynn visited the Iwo Jima last week. His report...