Sunday, August 29, 2010

"Israeli brains & Arab dollars..."

YNETnews:
"... Nochi Dankner, chairman of the IDB Group and one of Israel's most prominent businessman, found a way of circumventing the politics that block ties between the business communities in the Gulf and in Israel. More than two years ago, Dankner purchased shares of Credit Suisse via Koor Industries, an IDB Group subsidiary. Today he holds 3.2% of the bank's wealth. 
The bank's other major shareholders are the Qatari government (6.6%) and Saudi business group Olayan (about 10%). Under the Credit Suisse umbrella, a beautiful friendship blossomed between Dankner and the Arab representatives, to the ponit where the sides are exchanging gifts. In this same spirit, the joint emerging markets investment fund was created. The fund is worth $1.1 billion and is equally split between the largest private Israeli corporation and the Qatari and Saudi investors. 
This is not merely a financial move. Persian Gulf rulers and investors have inconceivable wealth and don't need a credit line from Koor Industries or Clal Insurance. A quarter of a million dollars is peanuts for them. They are embracing Nochi Dankner for other reasons. It is meant to signal their sincere desire to openly conduct joint business with Israel...."

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