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European ministers slam Israel's Gaza control plan

European ministers slam Israel's Gaza control plan

Local Norwaya day ago
Israeli Prime Minister Benjamin Netanyahu's security cabinet on Friday greenlighted plans for a major operation to seize Gaza City, triggering a wave of domestic and international criticism.
In a joint statement, the foreign ministers of the eight nations said the decision "will only aggravate the humanitarian crisis and further endanger the lives of the remaining hostages".
They estimated the operation could lead to an "unacceptably high number of fatalities and the forced displacement of nearly one million Palestinian civilians", according to a copy of the statement released by Spain's foreign ministry.
They also warned that the planned offensive and occupation of Gaza City would be "a major obstacle to implementing the two-state solution, the only path towards a comprehensive, just and lasting peace".
Besides Spain, the statement was signed by the foreign ministers of Iceland, Ireland, Luxembourg, Malta, Norway, Portugal and Slovenia.
Foreign powers, including some of Israel's allies, have been pushing for a negotiated ceasefire to secure the hostages' return and help alleviate a humanitarian crisis in the strip.
Despite the backlash and rumours of dissent from Israeli military top brass, Netanyahu has remained defiant over the decision to seize Gaza City.
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Norway sovereign fund drops investments in 11 Israeli companies
Norway sovereign fund drops investments in 11 Israeli companies

Local Norway

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Norway sovereign fund drops investments in 11 Israeli companies

Nicolai Tangen, chief of Norges Bank Investment Management (NBIM), which manages the fund, said the decision was taken "in response to extraordinary circumstances". "The situation in Gaza is a serious humanitarian crisis. We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened," Tangen said in a statement. Norway's wealth fund, also known as the oil fund as it is fuelled by vast revenue from the country's energy exports, is the biggest in the world with a value of around $1.9 trillion, with investments spanning the globe. Last week, Norwegian newspaper Aftenposten reported that the fund had invested in Israeli Bet Shemesh Engines Holdings, which makes parts for engines used in Israeli fighter jets. Tangen later confirmed the reports, and said the fund had increased its stake after the Israeli offensive in Gaza began. The revelations led Prime Minister Jonas Gahr Støre to ask Finance Minister and former NATO secretary general Jens Stoltenberg for a review. Advertisement NBIM said it had investments in 61 Israeli companies at the end of the first six months of this year, 11 of which were not in its "equity benchmark index" -- which is set by the finance ministry and used to gauge the wealth fund's performance. In a statement, it added that it had decided last week that "all investments in Israeli companies that are not in the equity benchmark index will be sold as soon as possible". The fund also said that it had "long paid particular attention to companies associated with war and conflict". "Since 2020, we have been in contact with more than 60 companies to raise this issue. Of these, 39 dialogues were related to the West Bank and Gaza," NBIM said. It said that monitoring of Israeli companies had been intensified in the autumn of 2024, and that "as a result, we have sold our investments in several Israeli companies".

European ministers slam Israel's Gaza control plan
European ministers slam Israel's Gaza control plan

Local Norway

timea day ago

  • Local Norway

European ministers slam Israel's Gaza control plan

Israeli Prime Minister Benjamin Netanyahu's security cabinet on Friday greenlighted plans for a major operation to seize Gaza City, triggering a wave of domestic and international criticism. In a joint statement, the foreign ministers of the eight nations said the decision "will only aggravate the humanitarian crisis and further endanger the lives of the remaining hostages". They estimated the operation could lead to an "unacceptably high number of fatalities and the forced displacement of nearly one million Palestinian civilians", according to a copy of the statement released by Spain's foreign ministry. They also warned that the planned offensive and occupation of Gaza City would be "a major obstacle to implementing the two-state solution, the only path towards a comprehensive, just and lasting peace". Besides Spain, the statement was signed by the foreign ministers of Iceland, Ireland, Luxembourg, Malta, Norway, Portugal and Slovenia. Foreign powers, including some of Israel's allies, have been pushing for a negotiated ceasefire to secure the hostages' return and help alleviate a humanitarian crisis in the strip. Despite the backlash and rumours of dissent from Israeli military top brass, Netanyahu has remained defiant over the decision to seize Gaza City. Advertisement

Norway's Prime Minister wants oil fund to review stake in Israeli company
Norway's Prime Minister wants oil fund to review stake in Israeli company

Local Norway

time6 days ago

  • Local Norway

Norway's Prime Minister wants oil fund to review stake in Israeli company

Norway's sovereign wealth fund, also known as the oil fund as it is fuelled by vast revenue from the country's oil and gas exports, is the biggest in the world and with a value of some $1.9 trillion, with investments spanning the globe. On Monday, Norwegian newspaper Aftenposten reported that the fund had invested in Israeli Bet Shemesh Engines Holdings, which manufactures parts for jet engines used in Israeli fighter jets. "I get very concerned when I see this," Store told broadcaster NRK on Tuesday. Store added that he had asked the finance minister to get in touch with the country's central bank, which manages the fund, "to find out what the situation is." Nicolai Tangen, CEO of Norges Bank Investment Management, confirmed on Tuesday that the fund had purchased a stake in the company in 2023 and that it had increased its holdings after the Israeli offensive in Gaza begun. Tangen said the fund now owned over two percent of the company's shares. Speaking to broadcaster TV2, the head of the ethics council evaluating whether companies live up to the fund's ethical guidelines, Svein Richard Brandtzaeg, said the council had not deemed the sale of aircraft engines to Israel covered by the ethical guidelines. Advertisement "We have therefore not investigated companies that maintain aircraft engines. We will now consider this. The fund has comprehensive ethical guidelines, but there is still room for discretion on the part of the council," he told TV2. Finance Minister Jens Stoltenberg on Tuesday afternoon told a press conference he still had confidence in Tangen, following calls that the fund head should resign. Stoltenberg stressed that the central bank and the fund were "responsible for implementation and enforcement based on the overall guidelines," news agency NTB reported. The news agency added that Stoltenberg had also requested a new review of the fund's investments in Israel.

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