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  • mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato


    » 08/17/2012, 00.00

    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.

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    See also

    27/02/2008 QATAR
    Doha: European banks are the new target for Arab investments
    The rich Gulf country has declared itself in favour of investing in Europe. The figures add up to around 15 billion dollars.

    05/07/2010 ASIA
    Chinese banks recapitalise as China follows in the footsteps of Greece
    The recapitalisation of Chinese banks is a sign that a new, worldwide wave of insolvency is just around the corner. This time, Asia is on its path. If war should break out in the Persian Gulf or if BP goes bust, we could be in for a financial upheaval.

    27/06/2011 CHINA
    Wen in Europe to boost trade and ensure bond purchase
    China wants closer economic ties with Europe, and clear doubts about its high inflation and harsh clampdown on human rights. Europe wants to sell securities to guarantee liquidity. Human rights and jailed dissidents are on the sidelines.

    27/11/2012 QATAR - UNITED NATIONS
    Doha, fears and doubts about the UN conference devoted to climate change
    Until December 7, about 17,000 delegates, representing 194 nations, will meet for the first time in an Arab country to discuss ecology. Experts call for a new treaty on the environment, to prevent "catastrophic" events. Conflicting results on the actual distribution of the 30 billion in aid to developing nations.

    19/08/2011 ASIA
    Fears play out on Friday as shares plunge and gold hits record level
    Following yesterday’s heavy losses in Europe and rising concerns over European banks’ liquidity, Asian shares drop but losses are contained. Gold reaches record highs. Uncertainty dominates financial markets, as investors show readiness to act on the slightest news. Many fear speculators.



    Editor's choices

    CHINA - VATICAN
    Vatican silence over Shanghai’s Mgr Ma Daqin causing confusion and controversy

    Bernardo Cervellera

    For some, Mgr Ma’s blog post praising the Patriotic Association and acknowledging his mistakes is nothing but “dirt”. For others, he chose humiliation for the “sake of his diocese”. Many wonder why the Holy See has remained silent about the article’s content and the bishop’s persecution. Some suspect the Vatican views the episode in positive terms. Yet, the Ma Daqin affair raises a major question. Has Benedict XVI’s Letter to Chinese Catholics (which describes the Patriotic Association as “incompatible with Catholic doctrine”) been abolished? If it has, who did it? A journey of compromises without truth is full of risks.


    CHINA – VATICAN
    Mgr Ma Daqin: the text of his “confession”

    Mons. Taddeo Ma Daqin

    Four years after quitting the Chinese Patriotic Catholic Association, the bishop of Shanghai “admits” his faults on his blog, praising the organisation that controls the Church. We publish his article, almost in its entirety. Translation by AsiaNews.


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