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Sovereign Wealth Funds Briefing - Categorized | Performance

Negative return for NPRF

Posted on 21 October 2008

From Bloomberg: Merrill Lynch & Co. is aiming to boost its Middle East business even as it expects the region’s economic growth to slow because of the global credit crisis and a U.S. recession, Chief Executive Officer John Thain said.

The U.S. investment bank, being taken over by Bank of America Corp., is “committed” to expanding its wealth management, investment banking, sales and trading activities and has applied for licenses to enter Qatar and Kuwait, Thain, 53, told a news conference in Dubai today. “We have consistently said, we see opportunities in Brazil, Russia, India, China and the Middle East,” he added….. Full Article: Source


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