20/11/2012 11:56
Qatar to invest 1bn euros in Italian companies
Qatar yesterday agreed to invest as much as 1bn euros ($1.3bn) in Italian companies, aiding efforts by Italy’s Prime Minister Mario Monti to breathe life into a weak economy, the Gulf Times reports.
Italy has joined a growing list of European states looking to tap Qatar’s vast wealth to support national industries that are struggling to finance their way out of recession.
A joint venture between Italy’s strategic investment fund and state-owned Qatar Holding will invest in sectors including food, fashion and luxury goods, furniture and design, tourism and leisure, the Italian fund said in a statement yesterday.