MIDDLE EAST: The Arab World: Oil, Power, Violence

Some news for the 1980s: Two Saudi Arabian princes have just joined the board of directors of General Motors, in which they are major shareholders. The Kuwait Investment Co. is erecting a chain of "Arabian Nights" motels across the U.S. The Sheik of Abu Dhabi has bought a 30% interest in the Columbia Broadcasting System, to add to a communications empire that already includes the Washington Star-News and Metro-Goldwyn-Mayer. The White House issues a statement welcoming the huge investments by "our Arab allies" as a way of stopping the dollar drain ("If...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!