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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Qatar considers buying major stakes in 7 European banks

Posted on 25 October 2012

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.
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). He said that Qatar Holding invested its budget surplus, estimated at $16.5 billion annually (60 billion QAR) in the past two years in foreign lucrative projects, which sets a record for the investments in Europe………………………………………..Full Article: Source


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