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Qatar central bank says country has $340 billion in reserves, can weather Arab sanctions

Qatar central bank says country has $340 billion in reserves, can weather Arab sanctions

Qatar has $340 billion in reserves that could help the Gulf country to weather the isolation by its powerful Arab neighbours, central bank governor Sheikh Abdullah Bin Saoud al-Thani said. Al-Thani said the central bank has $40 billion in reserves plus gold, while the Qatar Investment Authority sovereign wealth fund has $300 billion in reserves that it could liquidate. Qatari stocks have weakened and the riyal has been volatile in the spot market since Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Qatar on June 5, accusing it of backing terrorism.


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Facebook’s Oculus cuts price of virtual reality set, matching rival

Oculus, the virtual reality company owned by Facebook Inc, is temporarily cutting the price of its hardware, as the industry tries to figure out why the technology for immersive games and stories has not taken off among consumers. Oculus is cutting the combined price of its Rift headset and Touch controllers to $399 for six weeks beginning on Monday, said Jason Rubin, Oculus vice president for content. Vive, a virtual reality set developed by HTC Corp, is listed for sale at $799 on its website, and it has not recently cut the price.


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