Jun 21 2012
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MARKET TALK: No Need for Qatar to Raise Foreign Ownership Levels-Analyst
Thursday, Jun 21, 2012
0915 GMT [Zawya Dow Jones]--Qatar is reluctant to raise company foreign ownership levels because it doesn't need to, says Rami Sidani, head of investment at Schroders Investment Management in Dubai. "The regulators are not that keen to open up at this stage given the high growth in the economy." Adds an increase to foreign ownership limits, or FOLs, means more overseas investors benefiting from Qatar's buoyant economy. "Qatar doesn't need foreign money because they have their own capital," says Sidani, adding low FOLs, capped at 25% in Qatar, acts as an effective wealth distribution mechanism for locals. Qatar and the U.A.E. missed out again on being upgraded to emerging market status by index compiler MSCI late Wednesday.
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