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Qatari State Fund Buys Stake in NY's Empire State Building

Qatar's sovereign wealth fund has made an iconic purchase in America — a stake in the company that owns New York's Empire State Building. The $622-million purchase by the Qatar Investment Authority comes as the Doha fund increases its investments in the U.S. as the small country on the Arabian Peninsula tries to cope with low global oil and gas prices. The Empire State Realty Trust Inc., which manages the 102-story, 1,454-foot (443-meter) -tall building, announced the Qatari...

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