It’s been a year since shocked investors sold off Qatari assets after a Saudi Arabia-led group of nations severed economic and diplomatic ties with the gas-rich country.
While the standoff shows no sign of ending, pressure on Qatari assets has eased. Bets against the nation’s long-held dollar peg have subsided and the government managed this year’s largest sovereign bond sale in the Middle East and Africa. Shares in Qatar’s biggest lender are higher than they were 12 months ago.
Qatar’s stock market “has been buoyed by very strong demand from foreign investors, with net buying in excess of $600 million,” said Akber Khan, senior director of asset management at Al Rayan Investment in Doha. “Oil is now averaging more than $70 and, while there are areas of economic weakness, a number of post-blockade initiatives are starting to bear fruit and certain companies are likely to see an acceleration in growth.” …
Read more : Bloomberg, 05.06.2018