Bloomberg: Rebounding Qatari Stocks Shine in 2018

Washington, September 18 (QNA) - The main Qatari equities index is the 2018 best performer worldwide in dollar terms, up 16 percent, Bloomberg said in an article on Tuesday. Doha is easily outshining other Gulf stock markets, Filipe Pacheco writer of the article said. He added that Qatari stocks recovered all losses caused by the Gulf crisis, which began 15 months ago between the State of Qatar and the four countries. He explained that the recovery of Qatari stocks was because of several steps taken by Qatar to attract investors after the crisis, while the State allowed many companies to increase foreign ownership. The writer added that Qatar also made permanent residence an option for non-Qatari nationals. Qatar is moving to stimulate its economy in a rapid manner, said Joice Mathew, the head of equity research at United Securities. Major shares in Doha rose earlier this year on expectations of an influx of investors following emerging market indexes after easing foreign ownership restrictions as well as improved prospects for banks and petrochemicals. "Despite the embargo and the geopolitical challenges, Qatar has adapted," said Talal Samhouri, head of asset management at Doha-based Amwal LLC. He added that Qatar "worked diligently to reshape itself and its economy." (QNA)