Qatar and Dubai have teamed up to create a vehicle looking for international and regional investment opportunities. Financial Times
The $1bn (€750m, £507m) joint venture was announced on Tuesday during a visit to Dubai by Sheikh Hamad bin Jassim al-Thani, Qatari prime minister and international investor.
Qatar and Dubai, the Gulf's commercial hub, have ploughed billions of dollars into western companies and expensive London property.
The deal was signed between Hussein al-Abdullah, a director of Qatar Investment Authority, the state-owned investment body that has a large stake in Sainsbury's, and Mohammed Gergawi, executive chairman of Dubai Holding, Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum’s group of companies.