BUSINESS ABROAD: Pharaoh of Free Enterprise

In the Egyptian port of Alexandria, a band struck up the national anthem, and Egypt's flag was hoisted to the mast of a spick & span ocean liner, the 15,000-ton Gumhuriyat Misr ("Republic of Egypt"). There to welcome the British-built vessel, along with her sister ship Mecca, to the Egyptian merchant fleet was President Mohammed Naguib. Gesturing to a dark and dapper man in a checked tropical worsted suit and red tarboosh, Naguib paid Egypt's thanks to Ahmed Abboud, "that great and capable man who has rendered so many services to his country in the economic field."

In rendering such services,...

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