Turkish Minute

Some 30 percent of Qatari investment in Turkey pulled back: report

Traders work at their desks on the floor of the Borsa Istanbul in Istanbul on May 22, 2018. Turkey's embattled currency, the lira, has hit new historic lows against the US dollar after Fitch ratings agency expressed concerns over the central bank's independence in the wake of comments by President Recep Tayyip Erdogan. / AFP PHOTO / OZAN KOSE

Qatari investors sold off nearly 30 percent of their holdings on Turkey’s İstanbul Borsa stock exchange in the first five months of 2019, according to the Dünya economy daily.

The daily’s report indicated that the total holdings of Qatari investors plunged from some $14.75 million to $10.18 million in that period.

Qatar’s ruler Hamad bin Khalifa Al Thani is known for his close relationship with Turkish President Recep Tayyip Erdoğan.

Although an economic and political blockade by other Gulf countries has targeted Qatar, Al Thani had pledged to increase investments in Turkey.

The central banks of the two allies recently signed an agreement for swap deals.

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