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Qatar exchange shrugs off IMF warnings

: Monday, March 10 - 2014 @ 16:54

The QE 20 Index gained 0.60 per cent to close at 11,710.94 points on Monday, March 10. Earlier in the day, the IMF revealed that Qatar might face higher costs for hiring foreign workers due to alleged reports about deaths of migrant workers in construction sites, as reported by Arab News. “The working conditions of construction workers and domestic helpers has made global headlines, and could affect the availability and cost of hiring new workers in the future,” the IMF states after completing annual consultations with Qatar. The IMF also raised its forecasts of Qatar’s economic growth to 5.9 per cent for 2014 and 7.1 per cent for 2015, from 5.0 percent and 6.6 percent, respectively, in its October regional outlook, according to Arab News. United Development Company, one of the largest real estate firms in the gas-rich Gulf state, was one of the top gainers, ending 3.20 per cent higher at QAR22.35.

Gérard Al-Fil

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Monday, March 10- 2014 @ 16:54 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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