THE largest insurer in the Gulf should have taken out a policy on itself. Last year Qatar Insurance collected about 110m rials ($30m) in premiums from its Abu Dhabi office. But in September it announced that, because of a diplomatic dispute, the United Arab Emirates (UAE)would not renew its business licence, forcing it to close its branch in the Emirati capital. Its stock price has fallen by 30% since the beginning of the summer.
It has been more than four months since Saudi Arabia, the UAE, Bahrain and Egypt closed their borders and cut diplomatic ties with Qatar. The so-called quartet wants the little gas-rich emirate to stop supporting Islamist groups, including the Muslim Brotherhood, and to shut down Al Jazeera, the Arab world’s most popular broadcaster, which Qatar sponsors. The dispute has become personal, with diplomats hurling insults in Cairo last month. Officials in Doha, the...Continue reading
Source: Middle East and Africa http://ift.tt/2zAS7Z0
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