The International Reporting (and Life) Adventures of Vivian Salama

Archive for October 22nd, 2011

Qatar Concerned New European Regulations May Hamper Sovereign Wealth Funds

Posted by vmsalama on October 22, 2011

A short one from the World Economic Forum at the Dead Sea, Jordan (Click here for original link):

By Vivian Salama

Oct 22, 201

Bloomberg — Qatar is concerned about the effects of European legislation on sovereign wealth funds and is willing to cooperate with Europe on its economic crisis, Prime Minister Sheikh Hamad bin Jassim Al Thani said.

“We have some agreements, but not with everyone, not as we want,” Sheikh Hamad, who is also the country’s foreign minister, told reporters today at the World Economic Forum in Jordan. “Discussions are under way with some European countries to resolve certain regulatory hurdles, such as taxation. We are worried that there will be new regulations that can make obstacles for our sovereign wealth fund.”

Qatar has already agreed several investments in Greece, including a 1 billion-euro ($1.3 billion) commitment to invest in Greek mining companies. The Persian Gulf emirate will also acquire a 10 percent stake from Ellaktor SA and will have an option to buy another 5 percent from the Greek construction company, Ahmad al-Sayed, the chief executive officer of Qatar Holdings, said on Oct. 1.

Qatar may buy a 7.5 percent stake in European Aeronautic, Defence & Space Co. from Daimler AG with the voting rights remaining at Daimler, Handelsblatt reported Sept. 28, without saying how it got the information.

Sheikh Hamad said he is ‘‘worried’’ that European politicians have done ‘‘too little too late’’ to solve the ongoing economic crisis.


Posted in Arab, Debt Crisis, Economy, Europe, Eurozone, Qatar, Recession | Leave a Comment »

Libya’s Jibril to Resign Tomorrow After Liberation Is Declared

Posted by vmsalama on October 22, 2011

My colleagues and I interviewed Mahmoud Jibril in Jordan just two days after the death of Muammar Qaddafi. He had some very interesting things to say about the manner in which Qaddafi was killed, saying that there was no evidence of foul play nor was it excessively brutal. He also appeared quite frustrated with a delay in the transition of his post, saying that he submitted his resignation almost two months before our interview but it was delayed for several reasons. He emphasized his wish to see governance of Libya in the hands of the country’s youth. Here’s hoping, Dr. Jibril…

October 22, 2011

By Vivian Salama and Lara Setrakian

(Bloomberg) — Libya’s acting prime minister, Mahmoud Jibril, said he will resign tomorrow after the liberation of the North African country is declared following the death of Muammar Qaddafi.

The interim National Transitional Council “should keep running until a new government is formed,” he said in an interview today at the World Economic Forum in Jordan. “We cannot leave a vacuum.” Jibril said he had asked the acting minister of oil and finance, Ali Tarhouni, to run affairs until a new government is formed.

The NTC has been attempting to persuade as many as 50 foreign companies to return in the past two months and many had refused due to security concerns, Jibril said. Earlier at the forum, he told delegates that Libya has used up about 62 percent of its oil reserves and urgently needs to find alternative sources of income to rebuild its war-torn economy.

“We need a clear vision, the core of which is to replace oil with another source of national income,” he said at the meeting at the Dead Sea. “Our oil is depleting fast.” (click here to read more…)

Posted in Arab, Arab Spring, Economy, Elections, Foreign Policy, Islam, Libya, Middle East, Oil, Qaddafi | Leave a Comment »