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Qatar ready to pump cash into companies
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The Qatari government is willing to pump cash into companies needing help during the financial downturn, after stepping in to support banks, a newspaper quoted the prime minister as saying on Sunday.
The government could help financial companies and other firms outside the banking sector by directly injecting cash if needed, and not through the country's sovereign wealth fund, Al Raya reported Sheikh Hamad bin Jassem Al Thani as saying.
The government has bought stakes in local banks through the Qatar Investment Authority, the sovereign wealth fund, to support the economy and help boost financing for upcoming development projects, the prime minister said.
A finance ministry official said in March it would buy local bank's investment portfolios to boost liquidity and encourage lending, but did not how much money it would spend.