Qatar to 'stand by' its companies - Prime Minister

Performances not reflected in prices on the stock market, Sheikh Hamad said.
Qatar to 'stand by' its companies - Prime Minister
STANDING BY: Qatars Prime Minister, Sheikh Hamad, said that the countrys government would stand by its publicly listed companies. (Getty Images)
By Bloomberg
Thu 11 Feb 2010 02:45 AM

Qatar “stands by” its publicly listed companies, the country’s prime minister said.

The companies’ performances “unfortunately don’t reflect on their prices on the market,” Sheikh Hamad Bin Jasim Bin Jaber Al Thani told reporters after meeting with chairmen of the companies.

He added: “The prices in the market are low right now.”

The DSM 20 Index of publicly listed Qatari companies has dropped 3.3 percent in the past three months. Qatari companies are reporting their results for 2009.

Qatar National Bank, the country’s biggest lender, and Doha Bank QSC reported an increase in net income last year.

“Thank God we support our companies, we stand by them and we passed through the turbulence and now we have to see how we can go forward,” the prime minister said.

The Qatari government bolstered domestic banks last year by subscribing to two capital increases and agreeing to buy real estate.

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