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07 July 2017, 12:26 | Maryann Sutton
Traders monitor screens displaying stock information at Qatar Stock Exchange in Doha
German Foreign Minister Sigmar Gabriel, on a tour of Gulf countries, said he was cautiously optimistic that the feuding countries would reach a solution once they met for talks.
The demands included closing state-funded news outlet Al Jazeera, closing a Turkish military base and reducing ties with Iran, a regional adversary.
Qatar, the world's biggest exporter of liquefied natural gas, hosts some 10,000 American troops at its sprawling al-Udeid Air Base.
On Tuesday, Qatar's foreign minister delivered an official response to the demands but the letter's contents are not yet known.
Egyptian Foreign Minister Sameh Shukri told reporters at a joint news conference in Cairo that Qatar's response was "generally negative" and failed to "lay the foundation for Qatar's reversal of the policies it pursues".
He also said, "In respect to future measures, we are in constant communication".
Saudi Arabia's Foreign Minister Adel bin Ahmed al-Jubeir said further steps would be taken against Qatar at the appropriate time, and would be in line with global law.
Sheikh Mohammed bin Abdulrahman Al Thani, said the list of 13 demands from the countries boycotting Qatar is counterproductive to the fight against terrorism. Leaders of the four countries met in Cairo and saidthey will continue working to isolate Doha.
Al-Kaabi said that if some companies do not want to work with Qatar, this is their choice, and we will find other foreign companies working with it, stressing that Doha will not cut gas from any country.
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A handful of Arab states that imposed an embargo on Qatar last month vowed to take "fresh measures" against Doha on Wednesday after the latter appeared to reject their 13-point list of demands, Turkey's Anadolu Agency (AA) reported.
Doha and Tehran are close allies and Al Mu'allemi explained that this was despite, and maybe even because of, the other's support for terrorist groups like Hamas and Hezbollah, and their plots against other countries.
Moody's said it had downgradedQatar's rating to negative from stable because of the economic and financial risks arising from the dispute between Qatar and Bahrain, Saudi Arabia, Egypt and the United Arab Emirates.
"No, they can not take such a decision because it should be by consensus", he said during a meeting at the Chatham House think tank.
The Saudi-led group announced no new sanctions but indicated that Qatar could be expelled from the Gulf Cooperation Council.
Saudi Arabia and its allies announced on 5 June they were severing ties with their Gulf neighbour, sparking the worst diplomatic crisis to hit the region in decades.
"To defeat terrorism, we must confront extremism, we must confront hate speech, we must confront the harboring and sheltering of extremists and terrorists, and funding them", he said.
Only days after US President Donald Trump had visited Saudi Arabia, Qatar was handed a list of demands that looked more like a punishment for its wrong policy than a way to solve problems.
The dispute also has ramifications for the United States, which has a large military base in Qatar.
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