26 April, 2015 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter | Mobile






mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 08/17/2012
QATAR
Qatar buying up crisis-stricken Europe
About US$ 4.3 billion are invested in real estate and other assets, including the London Olympic Village and the British capital's skyscraper. The year to mid-August spending is equal to six weeks of revenue from liquefied natural gas exports. Last year's gas revenue totalled US$ 36 billion.

Doha (AsiaNews/Agencies) - Qatar invested US$ 4.3 billion in the past 12 months to buy up European companies, assets, luxury properties and football teams, making it largest sovereign property buyer in the European Union. The deals including the London Olympic Village and a mall on Paris' Champs Elysees, this according to research by Real Capital Analytics (RCA), a market research and commercial real estate information service provider.

For RCA, spending by the Qatar Investment Authority (QIA) during the year to mid-August equals only about six weeks of revenue from its liquefied natural gas exports.

In 2011, gas revenue totalled US$ 36 billion in a country of 250,000 native residents, which has some 1.2 million foreigner workers.

Since 2007, Qatar invested more than US$ 7 billion in real estate, mostly in London and Paris, funding the construction of the European Union's tallest skyscraper, the Shard, which opened in London just before the London Games. It also owns Harrods department store and has a 27 per cent stake in Songbird Estates, the majority owner of London's Canary Wharf financial district.

In Paris, the QIA bought property worth billions of dollars, including a huge, US$ 615 million hotel on the Champs Elysées.

In France, Qatar's sovereign, Sheikh Hamad bin Khalifa Al Thani, is famous for owning a majority share of the Paris Saint-Germain Football Club, one of the most prestigious outfits in French football.

In Germany, the emirate also has stakes in many companies, like German sports car maker Porsche.

In an interview with Bloomberg in April, Hussain Al Abdulla, a member on the QIA<s executive board, said that its spending strategy has been opportunistic. "We have no asset allocation or geographic allocation. After the financial crisis, all that went in the garbage."

In a few decades, Qatar, Saudi Arabia and Bahrain have used money earned from oil sales to become essential partners in Europe's economy and foreign policy, as evinced in the latest crises in the Middle East.

In Libya, Qatar and Saudi Arabia played a crucial role in funding the rebels and getting Western nations to attack Gaddafi, including specious reporting on al-Jazeera and al-Arabya.

The same appears to be happening in Syria where the two nations are funding and arming Sunni rebels against the Assad regime.


e-mail this to a friend printable version

See also
02/27/2008 QATAR
Doha: European banks are the new target for Arab investments
07/05/2010 ASIA
Chinese banks recapitalise as China follows in the footsteps of Greece
by Maurizio d'Orlando
11/27/2012 QATAR - UNITED NATIONS
Doha, fears and doubts about the UN conference devoted to climate change
06/27/2011 CHINA
Wen in Europe to boost trade and ensure bond purchase
08/19/2011 ASIA
Fears play out on Friday as shares plunge and gold hits record level

Editor's choices
VATICAN
Pope remembers and prays for "latest tragedy" of migrants, "our brothers and sisters" who "are seeking happiness"At the Regina Caeli, Pope Francis says he is praying for the hundreds of victims in a sinking off the coast of Libya. An appeal to the international community to "act decisively and promptly." "Every baptized person is called to witness in word and deed, that Jesus is risen, He is alive and present in our midst." The Christian message "is not a theory, an ideology or a complex system of precepts and prohibitions, or moralism, but a message of salvation, a concrete event, even a person: the Risen Christ, the living and only Savior of all" . The Pope will be in Turin on June 21 to honor the Shroud, the exposition of which begins today.
SAUDI ARABIA – YEMEN
Saudi war in Yemen masks widening domestic tensions
by Afshin ShahiSaudi Arabia is using the conflict in Yemen to control domestic problems, especially social inequalities and religious sectarianism. However, whilst the royal family flaunts its wealth, some 20 per cent of the population lives in poverty. Many disgruntled young Saudis end up becoming "foreign fighters" for the Islamic state (IS). Some 15 per cent of the Saudi population is Shia, under the heavy thumb of the Sunni-dominated state. Afshin Shahi, director of the Centre for the Study of Political Islam and lecturer in International Relations and Middle East Politics at University of Bradford, provides the following lucid analysis.
VATICAN
Pope: on the persecution of Christians, the international community should "not stand by mute and inactive” and “look away”For the sixth time in a week, Pope Francis mentioned the martyrdom of Christians in today’s Regina Caeli (the Marian prayer at Easter), slamming the indifference of the international community towards this "alarming failure to protect basic human rights.” Today’s martyrs "are many, and we can say that they are more numerous than in the first centuries." In addition, “Faith in the resurrection of Jesus and the hope He has brought to us is the most beautiful gift that a Christian can and must offer his brothers and sisters. To one and all, therefore, do not tire of repeating: Christ is Risen!”

Dossier

by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.