Business: The Saudis and the Dollar

A mutual dependency, tended by financial hajjis to the Gulf

Following the path that pious Muslims have trod for centuries, more than a million hajjis (pilgrims) have flooded through Saudi Arabia in the past few weeks for annual rites celebrated in the last month of the Islamic year. Observing ancient ritual, they circled the sacred Black Stone in Mecca's Kaaba, a cube-shaped shrine, and, on Nov. 11, slaughtered sheep in the valley of Mina to commemorate Abraham's willingness to sacrifice his son. Now the last of them are departing—and on their heels has come...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

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