A diplomatic rift between Qatar and its Gulf neighbours may cost them billions of dollars by slowing trade and investment and making it more expensive for the region to borrow money as it grapples with low oil prices. "Asset managers will not differentiate between Qatar and the rest of the GCC, and international managers will take their hands off any credit from the GCC. If Qatar is seen as a terror financing or compliance issue, then asset managers will be cautious." Saudi Arabia and the UAE provided $309 million of Qatar's $1.05 billion of food imports in 2015. This time, Saudi Arabia has promised to "begin legal procedures for immediate understandings with brotherly and friendly countries and international companies to apply the same procedures as soon as possible".

Source: dna June 05, 2017 12:22 UTC