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Financial quotes of the month

Wise words from the world’s movers and shakers

by Executive Editors

“It is our intention to vote against the deal unless the merger terms for Xstrata shareholders are materially improved.”

David Cumming, head of equities at Standard Life Investments on a proposed Xstrata-Glencore mining merge

“In a regional world marked with political uncertainties and a global world faced with economic difficulties, we must recognize Lebanon’s comparative advantage and its own secret for success. It is the Lebanese people.”

Riad Salameh, governor of Lebanon’s central bank

“As presented it’s very difficult to determine if the Arab spring fund is new wine in new bottles or old wine in new bottles.”

John Norris, Executive director at the Center for American Progress think-tank on US president Obama’s $800 million ‘Arab spring fund’

“We’ve actually spent a lot, but we still have a lot; a lot more than we need to run the company.”

Tim Cook, CEO of Apple

“In the last three years we have got rid of £700bn of bad assets – twice the entire size of the Greek national debt.”

Stephen Hester, CEO of Royal Bank of Scotland

“They cannot force Lebanon’s banking sector to violate sanctions [on Syria] because it is in the interest of the sector not to violate them.”

Najib Mikati, prime minister of Lebanon speaking about Syria’s allies in the Lebanese government

“Every investor will have his funds paid back, thanks to the wisdom and foresight of Sheikh Mohammed [bin Rashid].”

Abid Al Boom, Dubai property tycoon, after being cleared by Dubai’s highest court from a $272 million embezzlement charge

 “We have been proving everybody wrong in the last three years and this is going to be a fourth year proving everybody wrong.”“We have never said… that there’s a floor. I’m sure that we will never say so. There are no tactical obstacles to go further.”

Mohammed Al Shaibani, director general of the Dubai ruler’s court on Dubai’s debt

“We have never said… that there’s a floor. I’m sure that we will never say so. There are no tactical obstacles to go further.”

European Central Bank’s council member Erkki Liikanen on whether there was a floor to the ECB’s record-low one percent interest rate

“China will be our number one market this year. I’m very confident in the continued growth of the luxury market.”

Christophe Navarre, CEO of wine and spirits maker Moet Hennessy

“Nobody really wants Iran to have nuclear weapons … We shouldn’t change our line because it’s a threat by Iran, that’s not the way it works.”

European Union’s trade commissioner, Karel De Gucht following Iran’s suspension of oil supplies to several European countries
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Executive Editors

Executive Editors are the collective voice of the magazine. Stories written by Executive Editors are the culmination of discussions, brainstorming, research and information-gathering by our editorial team. Over decades, our editorial team has applied a blend of seasoned expertise and a discerning eye to bring you insightful and engaging and substantive reads that eschew sensationalism.
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