LATE last month, Blackstone Inc announced the first inbound Gulf private equity deal since Iran started attacking Middle Eastern hubs, while Citigroup Inc’s top boss fired off a 600-word memo underlining the bank’s enthusiasm for its business in the region.
Blackstone’s US$250mil commitment, hailed as a “masterstroke” by an executive at a rival firm, and Jane Fraser’s note came just as the United Arab Emirates’ (UAE) carefully-cultivated image of safety and stability was facing a test.
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