Tuesday 19 December 2017

Gulf boycott boosts Qatar as wealth comes home

Gulf boycott boosts Qatar as wealth comes home:

"The Qatar Financial Centre (QFC) is seeing a surge in business as Qataris register more of their assets at home and multinationals navigating a Gulf boycott of the country boost their local presence, its chief executive told Reuters.

The diplomatic and trade boycott imposed in June by Saudi Arabia, the United Arab Emirates, Egypt and Bahrain has changed the way business is done with Qatar, the world’s largest liquefied natural gas exporter and host of the 2022 World Cup.

State-owned companies, or companies owned by mostly Qatari shareholders, and rich individuals are redirecting their investments to the Qatar Financial Centre, the QFC’s head Yousuf al-Jaida told Reuters in an interview in Doha, Qatar’s capital."



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