INVESTMENT: The Arabs Wield a Banking Ban

An ugly power play has unsettled the discreet and usually gentlemanly world of investment banking. Using their new financial strength, a number of Arab banks have threatened to pull their money out of major international bond issues unless the managers barred some U.S. and European banking houses from participating. The Arab move was aimed at houses that were founded by Jews, and in some instances—but not all—are run by Jews and have dealings with Israel. In at least three instances, the underwriting managers caved in, and the excluded houses were barred from...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!