Established in 2005, Qatar Investment Authority is the country's sovereign wealth fund, specializing in foreign investment. Due to billions of dollars in surpluses from the oil and gas industry, the Qatari government has directed investments into United States, Europe, and Asia Pacific. , the holdings were valued at $100 billion in assets. Qatar Holding is the international investment arm of QIA. Since 2009, Qatar Holding has received $30–40bn a year from the state. , it has investments around the world in Valentino, Siemens, Printemps, Harrods, The Shard, Barclays Bank, Heathrow Airport, Paris Saint-Germain F.C., Volkswagen Group, Royal Dutch Shell, Bank of America, Tiffany, Agricultural Bank of China, Sainsbury's, BlackBerry, and Santander Brasil.