BlackRock Receives Commercial License to Operate in Abu Dhabi

BlackRock Inc. (BLK) has obtained a commercial license to conduct operations in Abu Dhabi, as reported by Bloomberg. This will, thus, expand its regional presence.BLK’s Rationale Behind This MoveAbu Dhabi and Riyadh have been competing with Dubai to establish themselves as the primary business hub of the Middle East. Abu Dhabi and Riyadh control more than $1 trillion in sovereign wealth each, establishing them among the largest pools of capital globally.Per Charles Hatami, head of the Middle East for BlackR ...