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Qataris tighten grip on Barclays

<div>Qatari investors have upped their stakes in Barclays with the conversion of mandatory convertible notes into common stock, booking paper profits of around &pound;700m. The Qatari Investment Authority now has 7.38 per cent of the bank, while Challenger, which acts for Sheikh Hamad Bin Jassim Bin Jabr Al-Thani of Qatar Holding, has 2.84 per cent. Barclays&rsquo; steadily rising share price has increased the value of the Gulf investors&rsquo; stakes by around &pound;700m.</div>