Qatar market dips amid lackluster trading
The QE 20 Index in Doha ended off 0.21 per cent at 13,076.33 points on Thursday, Aug. 7.
On Wednesday, Qatar’s Emir Tamim bin Hamad Al Thani has approved a law allowing foreigners to own UP TO 49 per cent of shares in companies listed on the Qatar stock exchange.
Until now, foreigners could only acquire up to 25 per cent of Qatari companies. Under the new regulation, however, foreign investors will also be able to become majority shareholders if the Ministry of Finance gives them permission.
Following Saudi Arabia’s decision in July to open its $550 billion valued bourse to foreigners, the GCC is on course to become a real hub for global investors.
The shares of Qatar National Bank gained consequently 1.90 per cent to reach QAR181.40.
Industries Qatar dived 2.53 per cent to QAR169.60.