Qatar's QIA made $7bn profit in first quarter of 2009

Qatar's prime minister said the country's sovereign wealth fund realised $7 billion (Dh25.69bn) or $8bn in profits from its investments in the first quarter of 2009.

Sheikh Hamad bin Jassem Al Thani also stressed that Qatar Holding's – main investment arm for sovereign wealth fund Qatar Investment Authority (QIA) – investment gains over the first quarter contrasted sharply with losses of more than $4bn last year.

Like most sovereign wealth funds run by the Gulf nations, the QIA is largely secretive about its financial situation. Thani said the country's investments are not only in the eurozone but also in Asia.

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