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Some Reshuffling in Qatar Cabinet

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Qatar’s Emir Sheikh Tamim bin Hamad Al Thani issued decrees restructuring the boards of both the state-run Qatar Petroleum (QP) and Qatar Investment Authority (QIA). Qatar National Bank (QNB) CEO, Ali bin Ahmed Al-Kuwari was appointed to oversee a new ministry department that mergers the commerce and industry under one ministry (Minister of Trade and Industry). These occurred via Amiri Decree No. 7 of 2018.

In addition, Saad bin Sherida Al Kaabi, who became CEO of Qatar Petroleum in 2014 and is a board member of QIA, jointed Qatar’s cabinet as Minister of State for Energy Affairs.

Furthermore, Dr Issa bin Saad Al Jafali Al Nuaimi will be the new Minister of Justice and Abdullah bin Abdulaziz bin Turki Al Subaie is the new Minister of Municipality and Environment. Yousef Bin Mohammed Al-Othman Fakhro was named the Minister of Administrative Development, Labor and Social Affairs.

Qatar Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani was named Chairman of QIA.

Sheikh Abdullah bin Hamad al-Thani was named Chairman of Qatar Petroleum. He is the 30-year-old deputy and brother of the emir.

Japan’s GPIF Awards Nissay Asset Management with ESG Disclosure Mandate

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Increasingly asset owners across the Asia-Pacific region are studying the impacts of environmental, social, and governance factors on listed companies. As more Japanese pensions augment asset allocation to listed equities, the importance of corporate non-financial disclosures and practices becomes clear. These disclosures can have a material impression on company stock prices. In addition, Japanʼs Stewardship Code and Corporate Governance Code in 2014 and 2015 were launched, respectively. These codes helped the (environmental, social, and governance) ESG concept gain momentum in Japan.

Japan’s Government Pension Investment Fund (GPIF), the largest public pension fund in the world, awarded a research mandate to Nissay Asset Management Corporation. The mandate entails studying ESG disclosures. The study will conduct a comparable analysis on ESG standards and practices, while taking into account input from both investors and companies. With around US$ 110.5 billion in assets under management, Nissay Asset Management is owned by Japanese life insurance giant Nippon Life Insurance Company.

As GPIF boosted its allocation to domestic equities, the asset owner took a deeper look into the impact of ESG on equity investing. GPIF is keen on improving efficiencies in Japan’s capital markets. GPIF is a universal owner of stocks, similar in some aspects to what Norway’s Government Pension Fund Global (GPFG) does.

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Norges Bank Real Estate Management Buys Central Paris Property

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Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (oversees Norway Global Pension Fund Global), has signed an agreement to acquire a 100 percent interest in an office property located on 54-56 rue la Boétie in central Paris.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Schlumberger Gets Closer to Eurasia Drilling Company

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Russia’s sovereign wealth fund, the Russian Direct Investment Fund, and American oilfield services giant Schlumberger (SLB) have planned a deal to invest in Russia’s Eurasia Drilling Company Limited. RDIF CEO Kirill Dmitriev made the announcement. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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