Four companies owned by state-run Qatar Petroleum plan to sell shares to the public in the coming years as the country, home to the world’s third-largest gas reserves, seeks to build its $136 billion stock exchange.
Seeking to hedge against rising rents and a shortage of space, banks and insurers are on a record spree of buying office buildings in Hong Kong, where occupancy costs are the second-highest in the world.
The tiny Persian Gulf nation of Qatar controls vast gas and oil deposits that feed billions of dollars annually into the state Treasury. Its petroleum riches make it the wealthiest nation per capita in the world, according to the International Monetary Fund.
China’s four largest banks, among the world’s 10 biggest by market value, defied a sluggish economy to report record quarterly profits in the first three months after boosting lending and fee-based services.