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Friday, May 15, 2009

Qatar Still has tonnes of money...

There seem to be contradictory signs in Qatar.

There are clearly fewer people here - a fact you can tell from the fall in traffic.

One engineer, who commutes to Al Khor, talked about the tailback falling from a couple of miles to a couple of hundred metres.

And in some companies and departments there have been cutbacks.

Yet a financial officier from a Qatar company yesterday told me that there was still huge money in Qatar - and the possibility of new and exciting projects.

The cash flow means that Qatar has been able to bail out the banks that would otherwise have been in trouble.

The money, he also pointed out, was based on real things - the production of gas and oil.

As a result, he felt, Qatar was, from a financial point of view, one of the safest places in the world.

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