QIA: Giant under pressure

Qatar Investment Authority (QIA)’s foreign reserve assets are larger than the emirate’s GDP, providing a major buffer against harsh economic conditions. QIA remains a giant in global investment, but it has faced problems with some of its largest investments over the last year. QIA is the largest investor in Glencore and Volkswagen, having been instrumental in their mergers with Xstrata and Porsche, respectively. Glencore’s share price fell by over two-thirds in 2015 as a result of the commodities crisis, cutting about $3bn off the value of Qatar’s 8% stake. Volkswagen, in which Qatar owns 17%, has been harmed by the diesel emissions testing scandal in the US.