More on Fink:
BlackRock has gone big on ESG (environmental, social and [corporate] governance) investing.
Fink has said that businesses must make "a positive contribution to society” and “society is demanding that companies, both public and private, serve a social purpose.”
From the piece:
“The math is simple: There is serious money to be made from working with the kingdom that lives off the world’s most profitable company, Aramco."
He’s the latest major international CEO to say that his company will keep doing business with Saudi Arabia, despite uproar over Khashoggi and other matters.
Read more on how business has been flocking back to Riyadh from my story last week: https://t.co/fJoispy3S5
Here’s Larry Fink on his investment giant, BlackRock, opening a new office in Saudi Arabia post-Khashoggi:
“The fact that there are issues in the press doesn’t tell me I should run from a place, it tells me we should run to a place.”
https://t.co/qnNZxm8Mhm
RT Birdyword: There's bad news for China's major commercial banks deep in their annual reports: They're running short on dollars. https://t.co/tHpQELxPqa https://t.co/qIlZZoQV3V
FrancesRobles nytimes We international folks over here in Europe at least are condemned to Notilus, which is like if Peoplesoft were illustrated in primary colors and otherwise designed in 1995
stanleyreed12 daiwaka Saudi Arabia and its de facto leader, Crown Prince Mohammed bin Salman, sure could use the business: The country has a fast-growing population that’s mostly young, as well as a 13% unemployment rate.
But that’s also catnip for international business ex…
stanleyreed12 daiwaka And SoftBank’s founder, Masa Son said something similar last fall: "As horrible as this event was, we cannot turn our backs on the Saudi people as we work to help them in their continued efforts to reform and modernize their society."
stanleyreed12 daiwaka AMC is still planning on building movie theaters in the country, its CEO told us: “It’s the right thing to do for the people of Saudi Arabia. They have been deprived of going to the movies for decades.”
stanleyreed12 daiwaka For ex: Google’s cloud chief had withdrawn from a big government-led conference in Riyadh weeks after Khashoggi’s death. But the company still moved forward with plans for a Middle Eastern cloud hub in the country.
ICYMI: Last week’s Aramco bond sale was only the latest sign that international companies want to do business with Saudi Arabia, even post-Khashoggi — and in fact never really went away.
By stanleyreed12 daiwaka and me
https://t.co/pcuxeQNi8W