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Tuesday, 11 May 2010
Qatar, the tiny gulf state that bought the world
Now, after a century or so of peddling consumer durables – from Ceylon tea to ruby-encrusted shoes guarded by a cobra – to a clientele that encompasses Oscar Wilde, A A Milne, Russian plutocrats and visiting VIPs, it seems that the Harrods brand may finally be about to live up to its slogan thanks to the rise and rise of an Arabian emirate the size of Yorkshire which has £43bn burning a hole in its very deep pockets.
Qatar Holding, one of the investment arms of the hugely-wealthy Qatar state and royal family, signalled yesterday that it is considering opening a new flagship Harrods shop in China after it completed a £1.5bn deal on Saturday to buy London's department store from Mohamed al-Fayed.
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