U.S. Banks Are Cashing In on Persian Gulf Debt

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U.S. banks are scrambling to get a foothold in the Middle East during a tumultuous period of change

Citigroup Inc., JPMorgan Chase & Co., Goldman Sachs Group Inc.

and Morgan Stanley are leading a corporate- and sovereign-bond spree in the Gulf Cooperation Council, a group of six Arab nations that includes Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain and Oman. U.S. banks have earned four times as much in fees from bond issuance in the GCC so far this year compared...

 

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