People are scared of putting money in Qatar at the moment, and banks are under liquidity pressure.
That's from Nabil Al Rantisi, the managing director of Abu Dhabi-based Mena Corp. Financial Services, and as you probably surmised, he's describing the effect the ongoing rift between Doha and Riyadh is having on sentiment.
When last we checked in on Qatari assets, shares had fallen to the lowest since April 2013 as the sheikdom’s spat with Saudi Arabia worsened after Doha and Riyadh couldn’t agree on whose idea it was for Sheikh Tamim to talk to Mohammed bin Salman on the phone. And yes, that’s just as absurd as it sounds.
Well on Sunday, Qatari shares fell for a 10th session after falling 3.1% last week, the most since June, and the seventh straight weekly decline.
Not to put too fine a point on it, but this is turning into a disaster. Here's a look at what's happened since this whole thing started in early June:
And here's the bigger picture:
"Qatar’s stock market headed for its tenth straight losing session on Sunday [after] Qatari Emir Sheikh Tamim bin Hamad al-Thani said on Friday that Qatar was ready to sit at the negotiating table to try to
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