Qatar’s government said on Monday it would buy listed shares worth an estimated $6bn within the investment portfolios of local banks to buttress the country’s domestic financial sector.
The intervention comes amid mounting concerns that even the Gulf’s fastest-growing economy is suffering from the credit crunch.
The central bank governor of the United Arab Emirates – one of the harder hit Gulf states due to the deteriorating fortunes of Dubai, one of its seven emirates – urged authorities to step up efforts to stimulate the economy.
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