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More Arab capital needed to rescue banks
- Tuesday, March 04 - 2008 at 11:17
Sameer al-Ansari, CEO of Dubai International Capital, said Citigroup and other financial institutions are being supported by Arab capital, but more is needed to 'rescue' these banks, reported Bloomberg. Private equity firms in the Middle East are managing $22bn collectively, he said, and they have raised another $25bn that has yet to be invested.
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Jeff Florian, Senior ReporterTuesday, March 04 - 2008 at 11:17 UAE local time (GMT+4)
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