-
Tips for becoming a good boxer - November 6, 2020
-
7 expert tips for making your hens night a memorable one - November 6, 2020
-
5 reasons to host your Christmas party on a cruise boat - November 6, 2020
-
What to do when you’re charged with a crime - November 6, 2020
-
Should you get one or multiple dogs? Here’s all you need to know - November 3, 2020
-
A Guide: How to Build Your Very Own Magic Mirror - February 14, 2019
-
Our Top Inspirational Baseball Stars - November 24, 2018
-
Five Tech Tools That Will Help You Turn Your Blog into a Business - November 24, 2018
-
How to Indulge on Vacation without Expanding Your Waist - November 9, 2018
-
5 Strategies for Businesses to Appeal to Today’s Increasingly Mobile-Crazed Customers - November 9, 2018
Qatar plans $35B in USA investment over next five years
The OPEC member’s Qatar Investment Authority said Monday it is opening an office in New York and is committed to investing $35 billion in the United States over the next five years. The wealth fund is also the largest investor in the mining company Glencore, a stake that declined by about $1.1 billion in the same period. The investment in core sectors of the USA economy will create more jobs for Americans.
Advertisement
“It is the flawless location to help strengthen our existing relationships and promote new partnerships as we continue to expand geographically, diversify our assets and seek long term growth”, said Sheikh Abdulla. It has a holding in London’s Canary Wharf financial district as well.
With world economies, markets and currencies often moving in different cycles and rhythms, the importance of a globally-diversified investment portfolio is central to QIA, whose portfolio is strategically spread across asset classes to generate sustainable returns and maintain resilience against adverse market cycles and volatility. Qatar’s sovereign fund maintains it presence in several markets as part of its balancing act mechanism.
Estimated to be worth about $250 billion, the QIA has built up a string of stakes in some of the world’s largest corporates, including Royal Dutch Shell, Barclays and Volkswagen.
Last year, QIA said it planned to set up a $10 billion investment venture with China’s Citic Group to diversify from retail and property assets in Europe.
The fund also has an 8.2 percent stake in commodities giant Glencore, which has seen about a third of its share value wiped out in recent weeks as a result of investor concern over its debt pile.
Advertisement
Qatar has committed to spend $35bn in the United States over the next five years, continuing the Gulf state’s diversification from investments traditionally focused on Europe.