Europe

Qatar to invest 5 billion pounds in Britain over 3-5 years

The energy-rich nation of Qatar says it plans to invest 5 billion pounds in the British economy within the next half decade.

Prime Minister Abdullah bin Nasser Al Thani announced the $6.3 billion investment at an investment forum in London. He said the outlay would come over the next three to five years through investment funds and other "relevant parties" in the Gulf Arab country, a major exporter of natural gas.

The 2022 World Cup host nation has already invested heavily in Britain. Its holdings include a stake in British bank Barclays and several prominent London properties, including the iconic Harrods department store.

The OPEC member announced plans to invest $35 billion over five years in the United States in 2015.