Arab World Wheeler-Dealer

What the tiny (pop. 1.4 million) Persian Gulf emirate of Kuwait loses in size to Saudi Arabia, it more than makes up for in aggressive money management. In contrast to the Saudis, with their conservative investment policies, the Kuwaitis have long used their surplus oil revenues, which now exceed an estimated $65 billion, to wheel and deal in real estate and in the stocks and bonds of blue-chip Western companies.

Unlike the desert-dwelling Saudis, the coastal Arabs of Kuwait have a lengthy tradition of commerce with other peoples. Less orthodox in their Islamic observance...

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