#Qatar's Financial Hub to Add Sports, Media to Compete With Dubai - Bloomberg

Qatar's Financial Hub to Add Sports, Media to Compete With Dubai - Bloomberg:

Qatar Financial Centre wants to attract companies other than just banks and asset managers to position itself as a multi-faceted business hub with better access than the country’s rival Dubai to markets including Turkey, Pakistan and Kuwait.

The new strategy is focused on building out four "clusters" for activities ranging from sports to media, Yousuf Al-Jaida, chief executive officer of the Qatar Financial Centre Authority, said in Doha.

The center drew up the plan after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut economic and diplomatic ties with Qatar in June 2017, accusing the Gulf country of financing terrorist groups and having close ties with Iran. Qatar rejects the charges. The rift forced it to shift trade and transportation routes to Kuwait and Oman and to buy goods from Iran and Turkey.