Companies seen as gainers or losers amid Gulf spat

Dubai

WITH Qatar increasingly isolated from its Gulf neighbours in an escalating geopolitical crisis, the economic and financial implications are starting to emerge.

The country accused by Saudi Arabia, Bahrain, the United Arab Emirates and Egypt of supporting Islamist militant groups relies on other Gulf states for about 20 per cent of its imports and almost half of its tourists, according to Dubai-based Arqaam Capital Ltd. Billions of dollars of infrastructure projects are also at stake as it prepares to host the 2022 World Cup.

"We expect the move to cut diplomatic ties with Qatar could have significant economic ramifications for its economy, but to have barely an effect on the rest of the GCC," said Arqaam's h…