Israel-Hamas War: Citi Says May Have Little Impact on Gulf Deals - Bloomberg
The rising conflict between Israel and Hamas will likely have a limited impact on deal activity in the Middle East if it doesn’t escalate into a wider war, according to Citigroup Inc.’s regional head of investment banking.
“So far, it’s a very muted impact,” Miguel Azevedo, the Wall Street firm’s chairman of emerging markets EMEA investment banking, said in an interview with Bloomberg Television on Friday. “If it stays contained we don’t really believe there will be much of an impact.”
“Sentiment is a bit more nervous, but there are a lot of reasons to be nervous and volatile in the market these days,” he said, pointing to the worsening sentiment after US inflation data bolstered bets on rate hikes.
The IPO scene in the region is “resilient,” Azevedo said, adding that next year’s pipeline is “very solid.”
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