Investment in bank studied

DOHA: Qatar is studying a proposal to invest in the commodities trading arm of US investment bank Morgan Stanley, the prime minister said yesterday.

“We probably need a few more weeks to review the details, but we are looking at it seriously,” Shaikh Hamad bin Jassim Al Thani told a news conference.

Morgan Stanley has been in talks with Qatar for more than a year over the sale of a majority stake in its energy-focused trading business, bankers said.

From an estimated peak of $3 billion in 2008, its revenues have dropped sharply.

gulf-daily-news, October 16, 2012