qatar banks on recovery in italy
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Qatar banks on recovery in Italy

Arab Today, arab today

Arab Today, arab today Qatar banks on recovery in Italy

Doha - DW

Qatar plans to pump 1 billion euros ($1.3 billion) into Italy's economy in hopes the debt-stricken country will soon recover from recession. The move is part of the Gulf state's drive to invest some of its oil wealth. Italy's strategic investment fund Fondo Strategico Italiano and state-owned Qatar Holding were planning to commit 1 billion euros each to the joint fund entitled "IQ Made in Italy Venture," Italy's government announced Monday. The deal was signed during Italian Prime Minister Mario Monti's visit to the oil-rich Gulf state. The joint venture would boast an initial capital of 300 million euros, the statement said, and rise in the coming years as the fund would be investing in sectors such as food, fashion and luxury goods, as well as in Italy's furniture, tourism and leisure industries. "We have four or five ideas [for investing] that we are studying at the moment," Qatar's Prime Minister Sheikh Hamad bin Jassim al-Thani told a new conference in Doha, adding that his government considered Italy a significant partner. Sheikh Hammad also announced that his government was preparing to sign another agreement with Italy worth 1 billion euros and aimed at supporting small and medium-sized business in Italy. Funding would also be provided equally by both partners, he said. The small yet wealthy Gulf state is seeking out opportunities to invest its huge and rising oil wealth, while debt-stricken eurozone countries are looking for international funding to finance their way out of a deep recession. In addition, businesses in some eurozone countries are finding it difficult to raise capital as the financial crisis is squeezing bank balance sheets, cutting off lending. In recent months, Qatar's sovereign wealth fund has invested in Italian luxury brands such as Tiffany and LVMH, while gaining full control of the Valentino fashion house.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

qatar banks on recovery in italy qatar banks on recovery in italy

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

qatar banks on recovery in italy qatar banks on recovery in italy

 



GMT 16:49 2018 Wednesday ,05 September

Bahrain Press headlines

GMT 19:24 2017 Saturday ,23 September

Fulfilling a passion, opera comes

GMT 03:34 2015 Thursday ,25 June

James Taylor hits number 1 in US

GMT 04:58 2015 Thursday ,20 August

Emirati surfer taking on world's best

GMT 22:40 2017 Sunday ,19 November

Three things we learned as Blues head for Japan

GMT 13:53 2016 Friday ,09 September

Qatar to stage Italian SuperCup

GMT 16:49 2017 Tuesday ,12 December

Arab foreign ministers entrust Arab Group in New York

GMT 08:13 2017 Thursday ,09 February

Thousands celebrate Hindu Thaipusam festival in Malaysia

GMT 04:18 2017 Friday ,10 November

Saudi Arabia’s VAT implementing regulations defined

GMT 07:02 2017 Wednesday ,06 December

Hospitals fill as refugees shiver
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday