Larry Fink\u2019s BlackRock posted blow-out earnings this week \u2013 and you can thank the business it\u2019s doing in the war-torn Middle East, On The Money has learned.<\/p>\n
That may sound hard to swallow if you read the economic doom-and-gloom that is portrayed everywhere in the mainstream media over the Iran conflict. Soaring oil prices, inflation and relentless pessimism are headlines you can expect on any given day.<\/p>\n
And to be sure, there are real financial questions dogging the Persian Gulf. War aside, Saudi Arabia\u2019s $1.5 trillion Public Investment Fund is showing strains from spending plans including something called \u201cThe Line,\u201d a futuristic, miles-long, glass-and-steel mega-development that could cost up to $1 trillion by the time it\u2019s completed \u2013 supposedly sometime after 2030.<\/p>\n
Larry Fink\u2019s BlackRock posted blow-out earnings this week \u2013 and you can thank the business it\u2019s doing in the war-torn Middle East. Jack Forbes\/ NY Post Design<\/p>\n
It\u2019s one reason the Saudi\u2019s announced that they are mothballing their nascent golf league, LIV Golf<\/a>, which never mounted a competitive threat to US PGA four years after its launch. \u201cThat was an easy one to kill,\u201d said one observer. \u201cIt\u2019s not like they don\u2019t have other priorities.\u201d<\/p>\n Yet despite the headline-grabbing hiccups and the missiles and the drones, for places like Saudi Arabia, Qatar, and UAE\u2019s Abu Dhabi, it\u2019s mostly business as usual, my sources tell me. We reported this a couple of weeks ago<\/a> \u2013 and it was confirmed by Fink in his first quarter earnings calls with Wall Street analysts.<\/p>\n