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NEWS BITES
COLOMBIA, Bogotá: The Emir, hh Sheikh Hamad Bin Khalifa Al-Thani, and Colombian President Juan Manuel Santos shake hands during a meeting at Narino Palace in Bogota on February 15. The Emir and the Prime Minister and Foreign Minister, HE Sheikh Hamad bin Jassim bin Jabor Al Thani, also visited Ecuador and Peru during their official stay in South America.
Qatar setting up Global Investment Company
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atar is creating a QR43.6 billion ($12 billion) investment fund to buy distressed assets overseas and will tender shares to potential investors in the coming weeks. Qatar Investment Authority (QIA)’s foreign investment arm, Qatar Holding, will contribute 75% to the fund, which is being operated by Doha Global Investment Company. The company will seek to raise the balance from various local companies, financial institutions and businessmen, as well as Qatari nationals. “The aim is for the initial public offering to happen in May or June,” said Ahmad Mohamed Al-Sayed, CEO, Qatar Holding. “The main purpose of this company is to bring the Qatari private sector the opportunity to enjoy the access that Qatar Holding has.” The fund will invest in a range of assets including real estate, bonds and equities and promises to pay a dividend of at least 5% in its first year.
QR364 million support to Syrian Opposition
Close on the heels of a decision to hand over the Syrian Embassy in Qatar to the Syrian opposition, Qatar has provided financial support worth QR364 million ($100 million) to the National Coalition for Syrian Revolutionary and Opposition Forces. The aid, which comes under the directives of the Deputy Emir and Heir Apparent H H Sheikh Tamim bin Hamad Al Thani, has been handed over to the Humanitarian Assistance Coordination Unit in Syria. Nizar Al-Haraki, the new Syrian ambassador to Qatar representing the National Coalition, appreciated the gesture, saying it reflected how deeply the Qatari government and its people have been involved to solve the Syrian crisis and reduce the suffering of the Syrian people.
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