Wall Street Heads to Saudi Arabia for Deals, Shrugging Off Risk - Bloomberg:
For the second straight year, the risks of doing business in Saudi Arabia are pushing their way onto the agenda of Saudi Crown Prince Mohammed bin Salman’s glittering investment showcase.
The elites of global finance are descending on Riyadh from Oct. 29, days after Saudi Aramco delayed its on-again off-again initial public offering in the wake of a missile attack that crippled its biggest oil processing facility. The company is pushing to complete the sale this year after international money managers’ skepticism at its touted $2 trillion valuation.
The timing of the three-day Future Investment Initiative -- an annual jamboree that showcases the kingdom’s ambitions -- is crucial for Saudi Arabia. It will be the most visible display that it’s business as usual after Wall Street boycotted the 2018 event following the murder of government critic Jamal Khashoggi. The A-list attendees this year include scores of chief executives, such as Citigroup Inc.’s Mike Corbat and BlackRock Inc.’s Larry Fink -- both no-shows last year.
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