Qatar Investment Authority

The United States has agreed to sell its embassy building in Grosvenor Square, Mayfair, to Qatari Diar, the sovereign wealth-backed developer, for an undisclosed sum.

The US State Department said that it will sell the Chancery building, home to the US Embassy in Britain for almost half a century, to the property investment company owned by the Qatar Investment Authority (QIA).

The building was worth an estimated £500 million at the peak of the market in July 2007 when Qatari Diar was first linked with a possible purchase. However, the building is now thought to be worth less after a 45 per cent decline in commercial property values.

Mansour Bin Zayed new entrant to 2009 Arab Billionaires

List as UAE ranks second with combined billionaire wealth of US$21.4 billion
Forbes Arabia Magazine, the Arabic edition of the world-renowned Forbes business magazine, has unveiled its Arab Billionaires List for 2009 in its April issue. The line-up includes 34 Arabs with a combined wealth of around US$ 115.8 billion, 35% lower than last year’s US$ 177.6 billion.

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The fundamental credit outlook for the Qatari banking system is negative, reflecting Moody's expectations of a weakening in operating conditions, following many years of strong macroeconomic growth, which has fueled the franchise development of Qatari banks, said Moody's Investors Service February 23 in its new Banking System Outlook on Qatar.

Moody's negative outlook for the Qatari banking system expresses the rating agency's view on the likely future direction of fundamental credit conditions in the industry over the next 12 to 18 months. It does not represent a projection of rating upgrades versus downgrades.