Qatar considers acquiring major stakes in investment banks in Europe, sources told Al Arabiya, noting that the negotiations are currently underway with seven banks suffering from accumulated financial crises caused by the economic recession in Europe.
Qatari delegations are leading broad negotiations to widen their investment portfolio in Luxembourg, in order to diversify their income generating investments, the sources added.
Basheer al-Kahlout, an economist, told Al Arabiya that widening the investments of Qatar’s investment authority in foreign markets is part of Qatar’s strategy to diversify the sources of income, away from gas and fuel sectors, which contribute 55% of Gross Domestic Product (GDP).
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