Business 10 MONday 23 august 2021 UBS’s rich Asia clients poured billions into sustainable assets There was a lot of scepticism on sustainable investing in Asia a couple years ago. Now there is a clear trend that clients here want to align their personal interest with their investment.

Adrian Zuercher, Head of global asset allocation at the UBS Global Wealth Management Chief Investment Office Business | 11 QSE 11,078.47 +45.03 (0.41%) FTSE 100 7,087.90 +29.04 (0.41%) DOW 35,120.08 +22.96 (0.65%) BRENT $64.75 (+0.39)

Qatar, Kazakhstan mulling Qatargas announces completed new joint investment projects fabrication of wellhead platform jacket to sustain North Field Production THE PENINSULA — DOHA Kaabi said: “This new wellhead platform jacket, which was the Qatargas announced yesterday I would like to wholeheartedly first of its kind to be entirely fab- the completed fabrication of congratulate the Qatargas ricated in Qatar, was completed wellhead platform jacket project team, Saipem, Qcon on schedule and to the highest (WHP12N) for the North Field standards of safety and quality, Production Sustainability (NFPS) and all those involved in clearly demonstrating the Project. The jacket will serve as completing this critical piece steadfast progress we are the steel frame to support a of infrastructure to help making to expand our project topside structure as part of a delivery capabilities, skills and fixed offshore production sustain production from knowledge in Qatar. The platform. The new jacket is one the North Field. delivery of this jacket in such a of the several new offshore short timeframe is testament to structures that will be installed the effective collaboration to ensure that production from Khalid bin Khalifa Al Thani among Qatar Petroleum, the State of Qatar’s existing Qatargas CEO Qatargas and Saipem.” liquefied natural gas (LNG) Chief Executive Officer of Qatari and Kazakh officials during the meeting hosted by Qatar Chamber yesterday. trains is sustained at 77 million Qatargas Khalid bin Khalifa Al tonnes per annum (MTPA). jacket fabrication project on Thani said: “I would like to THE PENINSULA — DOHA Kazakhstan’s First Deputy Prime Minister H E Ali Khan The new jacket is the first behalf of Qatargas 2 share- wholeheartedly congratulate the support drilling structure ever holders, which include Qatar Qatargas project team, Saipem, The Qatar-Kazakhstan Business Smailov stressed the common desire between both to be manufactured in Qatar for Petroleum, ExxonMobil and Qcon and all those involved in Council is planning an array of countries to strengthen and develop their bilateral rela- Qatargas, and a formal cer- TotalEnergies. The engineering, completing this critical piece of initiatives to further boost the tions in various fields, especially in trade and investment. emony was held at the Qcon procurement, construction and infrastructure to help sustain growing trade relations between fabrication yard located in installation (EPCI) contract for production from the North Field. both countries, including organ- Mesaieed to mark the milestone. the WHP12N Jacket was awarded Despite numerous challenges ising a Qatari-Kazakhstan There are plans to hold a Qatari-Kazakhstan business The ceremony was attended by to Saipem in June 2020. posed by the COVID-19 pan- business forum in the Kazakh Qatargas CEO Khalid bin Khalifa Commenting on the demic, the entire team has done capital Nur-Sultan soon as well forum in Nur-Sultan soon in order to strengthen ecnomic Al Thani and executives from landmark achievement, Minister an outstanding job – and as holding joint projects in and trade relations between the two countries. Qatar Petroleum, ExxonMobil, of State for Energy Affairs, the without compromising the various sectors such as agri- TotalEnergies, Qatargas, Saipem President & CEO of Qatar highest safety and quality culture, construction, tourism, and Qcon. Petroleum and Chairman of standards that we set for all our finance, and other industries, especially in trade and investment. addition to many advantages that Qatargas executed the initial Qatargas H E Saad Sherida Al projects.” P11 officials have said during a He added that there are plans make Kazakhstan attractive to meeting hosted by the Qatar to hold a Qatari-Kazakhstan investments, he added. Chamber (QC) yesterday. business forum in Nur-Sultan Smailov also went on to The meeting of the Joint soon in order to strengthen eco- express his hope that direct Business Council was attended nomic and trade relations flights will be established by Kazakhstan’s First Deputy between the two countries. He between Qatar and Kazakhstan Prime Minister H E Ali Khan also pointed out that there are as of next September. Smailov and QC’s First Vice- many areas in which cooperation Also speaking during the Chairman Mohammed bin can be strengthened, such as event, Al Kuwari welcomed the Ahmed bin Towar Al Kuwari, and agriculture, construction, Kazakh delegation and said that jointly chaired by Mohammed tourism, financial institutions, he looked forward to seeing the bin Ahmed Al Obaidli, Head of and industrial businesses. establishment of commercial the Qatari side and Almassadam Smailov went on to call on partnerships between business Satkaliyev, Head of the Kaza- Qatari businessmen to identify owners in both countries. He khstan side, in the presence of the opportunities available in also pointed out that the Qatari- council members and the these sectors, while reiterating Kazakhstan relations are wit- Ambassador of the Republic of that Kazakhstan is the largest nessing a remarkable devel- Kazakhstan to the State of Qatar economy in the Central Asian opment in all fields, in light of H E Arman Issagaliyev. region and has great resource the wise leadership in both Speaking during the event, potentials such as plutonium and countries seeking to strengthen FROM LEFT: Project Execution Manager at Saipem Giorgio Danieli; Project & Development Leader – Smailov stressed the common precious metals. The country also cooperation and increase the Gas Assets at TotalEnergies Adrien Gabert; Chief Major Projects Officer at Qatargas Nafez Bseiso; Chief desire between both countries to has strategic geographical prospects of these relations, Executive Officer at Qatargas Khalid bin Khalifa Al Thani; Manager Offshore Project Development at strengthen and develop their location as well as good relations especially in the trade, economic Qatar Petroleum Ahmed Al Muftah; NFPS JV Project Manager at ExxonMobil Sarah Wadi Al Amiry; and bilateral relations in various fields, with both Russia and China, in and investment fields. P11 Managing Director at Qcon Mazen Abu Nabaa, during the ceremony in Mesaieed recently. Scale7 opens Vodafone Qatar launches Sanad Three QSE-listed firms registration for its Incubation programme to support Qatari SMEs join FTSE Russell indices Program THE PENINSULA — DOHA DEEPAK JOHN The FTSE Global Equity tHE PENINSULA Index Series covers securities Vodafone Qatar yesterday in 49 different countries and is THE PENINSULA — DOHA launched the Sanad Global index provider FTSE divided into Developed, programme, its latest CSR initi- Russell will now include Advanced Emerging and Sec- Scale7, the first fashion and ative for Qatari SMEs aimed at Baladna, Doha Insurance ondary Emerging segments. design business incubator in providing mentoring and career Group and Qatar Industrial The series represents the Qatar - founded by the advice, networking opportu- us. Through the Sanad platform, connectivity for a better future Manufacturing under its micro broadest global equity uni- Qatar Development Bank nities and access to various we have focused on putting and enable an inclusive, sus- cap category, FTSE Russell has verse, targeting coverage of (QDB) in partnership with services to support their growth specific training plans in place tainable digital society. We are announced in its Global Equity over 99 percent of investable M7 – has opened the appli- and success. Established busi- and expanding our range of committed to continue our CSR Index Series September 2021 market cap globally. cations to its Incubation nesses will be able to use Voda- support via the Vodafone Qatar efforts to support various Semi-Annual Index Review on The companies’ inclusion Program, the organisation’s fone’s procurement platform to procurement team. We aim to sectors across the country”. August 20, according to the and reclassification in global pioneering business incu- showcase and commercialise fully support local businesses The Sanad programme will Qatar Stock Exchange (QSE) indices are subject to various bation, training and their services and products to by reinforcing proper commu- provide information on and website. criteria, the most important of mentorship initiative. Vodafone. nication and knowledge access to services across The QSE stated the addition which are the size of the com- The Incubation Program In line with the Qatar transfer and exchange between various areas, including: Food of three new Qatari companies pany’s investable capital and offered by Scale7 is designed National Vision 2030 (QNV different departments”. and beverage; Events and hos- into the index of micro capital, market capitalisation, liquidity to offer workshops, coaching 2030), the new Sanad business Faisal Al Thani, Senior CSR pitality; Advertising, marketing including Baladna, Doha and turnover rates. and mentorship to a number hub is part of Vodafone’s mission Specialist at Vodafone Qatar, and media monitoring; Insurance Group and Qatar The FTSE emerging of selected startups. The to help diversify the SME land- added: “We at Vodafone Qatar Training, lectures and work- Industrial Manufacturing. The markets index is one of the program envisions to support scape and create a knowledge- believe in the power of tech- shops; Small and medium-sized changes will be effective on indexes of the global “FTSE” designers during the idea based economy which is char- nology in enabling SMEs to businesses; Public relations; closing of September 16, 2021. indices and funds that mainly stage with a Minimum Viable acterised by innovation, inspi- excel in the market. Vodafone and Volunteer management. It also stated the reclassifi- target most emerging market Product (pre-revenues) ration and business ethics. Qatar offers the latest tech solu- Businesses can sign up to cation of Qatar Fuel and Qatar exchanges, and this index is of through coaching sessions in Ali Al Abdulla, Head of tions that can positively impact the Sanad programme by vis- Electricity & Water Company importance by global funds and order to test their ideas and Media and CSR at Vodafone how SMEs do business on a iting the programme’s web page from large capital to middle portfolios due to the major receive feedback before the Qatar, said: “SMEs are the daily basis and can also be part and submitting a registration capital index. Inclusion of com- investments it holds for the market launch. backbone of any advanced and of the digital transformation of form through the Sanad panies to these global indices largest international banks and The best performing diversified economy and sup- our economy. We’re proud to platform. To find out more helps in boosting inflow of companies. The index has startups will be shortlisted porting businesses with the announce the Sanad pro- about the Vodafone Sanad pro- foreign funds and companies many European, British and for the acceleration most advanced technology gramme as the latest devel- gramme, please visit: sanad@ usually witness significant international funds and program. P11 solutions is a major priority for opment in our plight to use vodafone.qa activity on their shares. portfolios. MONday 23 August 2021 BUSINESS 11 World’s biggest oil market sees UBS’ rich Asia clients poured billions into over-supply risk amid Delta rise sustainable assets BLOOMBERG

US shale output is rising again just as a BLOOMBERG resurgence in COVID cases eats away at driving demand, a sign that the Delta UBS Group’s wealthy Asian variant is undercutting a rally in the world’s clients are pouring billions of biggest oil consumer. dollars into sustainable assets as Gasoline inventories grew last week the region’s swelling ranks of while a gauge of demand fell as record out- millionaires jump on a global breaks in several states contributed to push into socially responsible summer travel demand evaporating faster investing. than usual. At the same time, drillers are Assets under management The world’s richest want pumping the most crude in a year, spurred in fully sustainable discretionary more feel-good investments by a rally in prices from when the pandemic portfolios for Asia-Pacific from private banks and super seemed to be under control. private banking jumped to rich families are increasingly Oil traders say the result is that more $4.5bn as of the end June, up including sustainability and barrels are coming on the market than can from $1bn at the start of last ethics in their investment be consumed, raising fears of a new over- year, according to the Swiss decisions. supply and sending US crude prices on the bank. Under a discretionary More than 70 percent of longest losing streak since they went neg- portfolio, rich clients hand over UBS’s private banking clients in ative last April. It underscores views from lump sums and let the bank Asia selected sustainability the International Energy Agency that the manage the money for a fee. focused components on a virus will wipe away demand growth in There was “a lot of skep- recently launched digital major consuming markets. A Chevron facility in California, US. ticism” on sustainable investing platform called “My Way,” “At this point, the market may still be in Asia a couple years ago, said according to the bank. Globally, concerned about how rocky the road will have been a welcome sight for a market China is falling as Asia deals with its own Adrian Zuercher (pictured), UBS had more than $30bn in be to full recovery,” said Spencer Vosko, that until recently expected to be short of new waves of infections. Crude inventories head of global asset allocation fully sustainable discretionary director for crude oil at Black Diamond crude as economies sprung back to life across America could start to rebuild again at the UBS Global Wealth Man- assets under management as of Commodities in Houston. “There are even while OPEC kept output restrained. Just last after dropping to pre-pandemic levels. Sep- agement Chief Investment the second quarter. more fears about the world walking back week President Joe Biden urged the group tember futures for West Texas Interme- Office, at a briefing in Hong Discretionary portfolios substantially from all the positive strides to boost production to help lower US diate crude have fallen to an 18-cent Kong. Now “there is a clear trend make up about 14 percent of it’s made over the year.” The added crude gasoline prices. premium to the October contract, the lowest that clients here want to align accounts in Asia, lower than supply from places like the Permian Basin, Instead fuel consumption is slipping and level since January and a sign that traders their personal interest with their about 40 percent in some America’s oil producing dynamo, would demand for oil in top export markets like see less prompt demand for oil. investment,” he said. markets in Europe, said Mario The pandemic and an accel- Knoepfel, executive director, erating global effort to combat sustainable investing advisory climate change has caused for Asia-Pacific, at the briefing. Qatargas announces completed fabrication of wellhead platform interest in sustainable investing For private banks, a discre- to surge over the past couple of tionary mandate is a more jacket to sustain North Field Production years. The market for products lucrative proposition than claiming to support social justice having customers pay per trade. FROM PAGE 10 time injury. This achievement is what pleases me most about this and a greener planet is already Core sustainable investments at project.” As the world’s premier LNG company, Qatargas has a estimated at $35 trillion globally, UBS rose by 62 percent to Highlighting the project’s outstanding safety performance, the well-proven track record of delivering major projects and oper- and is likely to exceed $50 $793bn at the end of last year, Qatargas CEO added: “Everyone should be especially proud of the ating onshore and offshore facilities in the North Field with world- trillion by 2025, according to making up almost 20 percent of over 650,000 workhours expended on this project without a lost class safety, reliability and operational excellence. Bloomberg. all client invested assets. Qatar, Kazakhstan mulling new joint investment projects Scale7 opens registration FROM PAGE 10 The panel discussion held agricultural sector in the country, which for its Incubation Program during the event also results in many opportunities for He also stressed the importance of investment in this vital sector. He added cooperation and exchange of experiences reviewed the available joint that there are about 5 million square kil- FROM PAGE 10 institutions in Qatar and beyond between Qatari companies and their investment opportunities and ometres of arable land with the availa- to ensure the program is Kazakh counterparts. Al Kuwari also high- bility of groundwater, which makes the The Incubation Program delivered in a creative and inter- lighted QC’s keenness to overcome any the most important projects country’s agricultural sector attractive for enriches the current fashion active manner. We are delighted obstacles that prevent the establishment in various sectors in Qatar investment. ecosystem in Qatar by investing to hold the first wave of the of partnerships and joint projects between A panel discussion on “Economic and in local designers and fashion Incubation Program and we the private sector in the two countries, and Kazakhstan, as well as Investment Prospects for Cooperation startups at their “idea stage” and invite aspiring entrepreneurs to noting that the QC has received many the incentives, and facilities between the State of Qatar and the transfer the relevant knowledge join us and actively contribute Kazakh trade delegations and has also offered to foreign investors in Republic of Kazakhstan” was also held and competences in order to see to Qatar’s growing creative organised commercial visits to Kazakhstan during the event, with the participation them succeed in the market. To entrepreneurship ecosystem,” in recent years, while stressing that the the two countries. of a number of business owners and rep- be a part of the Incubation she added. QC welcomes all Kazakh companies that resentatives of companies from both Program, startups should be in Entrepreneurs interested in wish to invest in Qatar. countries. The panel reviewed the the pre-revenue stage with MVP, taking part in the Incubation According to Al Obaidli, bilateral trade During the meeting, Satkaliyev high- available joint investment opportunities hence not currently generating Program will be entitled to smart between Qatar and Kazakhstan quad- lighted that the Council seeks to establish and the most important projects in various substantial revenues. They funding and in-kind support. rupled in 2020 compared to the previous a strategic partnership between the two sectors in Qatar and Kazakhstan, as well should also be active in fashion These entrepreneurs will gain year. He added that the Qatari-Kazakhstan sides to mark the beginning of a new as the incentives, and facilities offered to and design and should have continuous mentoring from Business Council seeks to increase the phase of economic and trade relations, foreign investors in the two countries. great market potential. global experts alongside an prospects for cooperation between Qatari pointing to the importance of regular com- Speaking via videoconference during Aysha Khalifa Al Romaihi, opportunity to attend enlight- companies and their counterparts in Kaza- munication between both sides and acti- the event, Director General of the Interna- Head of Strategic Initiatives and ening workshops and net- khstan, establish joint companies, and vating all procedures related to the Joint tional Islamic Food Processing Association Business Collaborations at QDB working opportunities. The benefit from the expertise possessed by Business Council. He added that there are Sheikh Bilal Khan, said that there are many and Project Manager of Scale7, program will encompass 8 companies on both sides. He also stressed many existing joint investment projects, areas to promote joint Qatari-Kazakh said: “The Incubation Program workshops, 2 speaker series, 6 the interest of Qatari businessmen in iden- especially in the agricultural fields, and projects, especially in food security projects. aims to address an increasing hours of FTA coaching for each tifying opportunities in promising sectors that there is a desire to increase these He added that Islamic commercial institu- demand for innovative-based start-up as well as 6 hours of in Kazakhstan and to benefit from projects. tions in the two countries can cooperate entrepreneurship ventures in international mentorship. investment incentives provided by the Kazakhstan’s Deputy Minister of with each other, stressing the role of the Qatar and the wider region. The Incubation Program will country. National Economy H E Alibek Kuntirov Qatar-Kazakhstan Business Council in Scale7 takes a unique approach commence on September 13 and Al Obaidli also called on business added that there are broader areas of strengthening joint cooperation. to conducting its Incubation end on November 29. The last owners in Kazakhstan to learn about investment cooperation, especially in the During the event, both sides reviewed Program, which not only focuses date for application will be on business opportunities in Qatar and to take fields of banking, air freight and air the most important investment opportu- on technical training and edu- September 1, followed by the advantage of the facilities and incentives transport. nities and projects available in the sectors cation, but also helps partici- Selection Day for the qualified Qatar offers to foreign investors, espe- Kazakhstan’s Deputy Minister of Agri- of agriculture, livestock, mining and others. pants evaluate the commercial applications. To complete the cially since Qatar is currently witnessing culture H E Ruslan Manatayev said that The speakers also reviewed the most viability and social impact of registration for the program, huge projects within the framework of the government is currently implementing important tourist destinations in their business. visit https://ftamilan.typeform. the National Food Program. a development program for the Kazakhstan. “We work with various com/to/GMXGYJ75 Huawei launches nova 8 in Qatar, new camera phone elevates smartphone experience

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