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Qatar orders navigation, shipping firms merger

Dubai, November 24, 2008

Qatar Navigation Company and Qatar Shipping Company have been ordered by the government to merge, the Doha bourse said in a statement on its website on Monday.

'In order to inspire growth in investment and increase profitability for benefit of national economy of the state of Qatar and its investing public, both Qatar Navigation Company and Qatar Shipping Company received a direction from the government of Qatar to merge,' the statement said.

The boards of directors of both firms will study all requirements in order to proceed with the merger, it added, giving no more details.-Reuters




Tags: Qatar Shipping | merge | Qatar Navigation Company |

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