Michael Bloomberg has had a busy summer.
The NYC Mayor has been waging a pitched battle against the 71% of New Yorkers who want the Cordoba House mosque moved from its present site. That event has gotten plenty of media coverage.
But that fight may be nothing more than a part of a second, larger contest between Thomson Reuters and Bloomberg LP — a private company of which Mayor Bloomberg controls 85% — over control of financial news reporting in the world of Islamic finance.
The stakes in the Bloomberg-Reuters Middle East Islamic Finance war: The nearly 300 Islamic banks and financial institutions worldwide whose assets are predicted to grow to $1 trillion by 2013.
“We have an aspiration at Bloomberg to become the most influential news organisation in the world.”
Peter T. Grauer, Chairman and CEO of Bloomberg, July 31, 2010
“…. the growth of Islamic finance has been phenomenal in spite of the current difficulties that seem to be indicative of the situation visa vi the international economic community, the financial world seems to be turning its attention to Islamic finance.”
Former Deputy Prime Minister of Malaysia Tun Musa Hitam, Chairman of the World Islamic Economic Forum Foundation, CNBC interview, August 18, 2010







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