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Qatar is ratcheting up its campaign to host the 2022 World Cup as the race nears an end. With a decision due on December 2, boosts have come in the shape of a successful staging of a friendly match between South American footballing giants, praise for the emirate’s green credentials and vocal support from none other than Manchester United manager Sir Alex Ferguson.
Recent reports from the IMF and Qatari authorities confirm that Qatar is on track to be the fastest-growing economy in the Middle East, and may be among the fastest in the world.
New regulations for Islamic banking in Qatar released by the Central Bank in late August will change the way conventional banks offer sharia-compliant services and likely boost the performance of banks that focus solely on such services.
Qatar’s economy may be in the midst of expansion, with oil and gas income nearing an all-time high and GDP tipped to expand by up to 19%, but the country’s planners are looking to a far-off future where hydrocarbons play a less significant role in the economy, and their plans for diversification are based on education.
While the acquisition of iconic British department store Harrods in May by Qatar Holding – one of the government’s investment vehicles – made international headlines, the country’s domestic retail sector is also very much on the move. Though impressive in themselves, the spate of new developments are less likely to catch the attention of the global media than the $2.2bn Harrods deal, Qatari shoppers are set to benefit from a major increase in retail options, some of which will rival the Knightsbridge emporium for opulence and range.
After establishing itself as the world's leading supplier of liquid natural gas (LNG) products, Qatar is now targeting its resources towards its own domestic market.

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