Norway drops investments in 11 'Israeli' companies over Gaza war
"These measures were taken in response to exceptional circumstances. The situation in Gaza represents a serious humanitarian crisis," said Nicolai Tangen, CEO of Norges Bank Investment Management, which runs the fund.
"We are investing in companies operating in a country at war, and recently, conditions in the West Bank and Gaza have worsened."
The Norwegian fund, also dubbed as the 'oil fund' for its massive energy export revenues, is valued at approximately $1.9 trillion with investments spanning the globe.
Last week, the Norwegian newspaper Aftenposten reported that the fund had invested in the 'Israeli' company Bet Shemesh Engines, which manufactures parts for 'Israeli' fighter jet engines.
Tangen later confirmed these reports and said the fund had increased its stake after 'Israel's' aggression on Gaza began.
The information prompted Prime Minister Jonas Gahr Støre to ask Finance Minister Jens Stoltenberg to conduct a review.
The fund reported that it held investments in 61 'Israeli' companies at the end of the first six months of this year. Of those, 11 were not listed on its benchmark stock index, which is set by the Finance Ministry and used to measure the fund's performance.
In a statement, the fund said it decided last week to "sell all its investments in Israeli companies not listed on the benchmark stock index as soon as possible."
It added that it has "long paid special attention to companies linked to war and conflict."
"Since 2020, we have engaged with more than 60 companies to raise this issue. Of these dialogues, 39 relate to the West Bank and Gaza," the statement said.
It noted that monitoring of 'Israeli' companies intensified in the fall of 2024, and "as a result, we sold our investments in several Israeli companies."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Ammon
2 hours ago
- Ammon
Italy's PM voices concern to President Abbas over escalating Israeli actions
Ammon News - Italian Prime Minister Giorgia Meloni held a phone call this afternoon with Palestinian President Mahmoud Abbas, during which he expressed sincere appreciation for Italy's crucial humanitarian support and its firm stance on the Palestinian cause. According to a statement issued by Palazzo Chigi, Meloni shared deep concern over recent Israeli decisions that appear to be heading toward further military escalation, emphasizing that the humanitarian situation in Gaza is unjustified and unacceptable." The Prime Minister called for the urgent need for an immediate cessation of hostilities, in order to continue providing humanitarian assistance to a dire civilian population. She also agreed with President Abbas that Hamas must release all hostages and accept that it has no future in governing the Strip. Meloni also reiterated Italy's commitment on the humanitarian front, through the Food for Gaza initiative, including the airdrops currently underway, and the evacuation of more than 150 children in need of treatment so far. She informed President Abbas the arrival of additional children in need of medical care in Italy in the coming days. During the call, the Prime Minister "finally affirmed Italy's readiness to play its part in the stabilization and reconstruction of Gaza, reaffirming the need to work towards a political process leading to a just and lasting peace in the Middle East through a two-state solution."
Roya News
4 hours ago
- Roya News
Which countries joined global push for Palestine recognition since October 2023?
Since the brutal escalation of 'Israel's' military campaign in Gaza following October 7, 2023, a powerful wave of international solidarity has swept across the globe, with nations stepping forward to recognize the State of Palestine or pledging to do so at the upcoming UN General Assembly in September 2025. As of August 2025, approximately 147 of the 193 UN member states recognize Palestine, with the recent and upcoming recognitions poised to push this number higher. This growing movement reflects a resounding rejection of 'Israel's' relentless occupation and the catastrophic humanitarian crisis in Gaza, where over 60,000 Palestinians have been killed, according to Gaza's Health Ministry. These recognitions affirm the Palestinian people's inalienable right to self-determination and statehood, offering hope to a population enduring unimaginable suffering under 'Israeli' bombardment and blockade. - Countries that have officially recognized Palestine - Between April 2024 and February 2025, 10 countries formally extended recognition to Palestine as a sovereign state. The list includes: Barbados (April 19, 2024) Jamaica (April 22, 2024) Trinidad and Tobago (May 2, 2024) The Bahamas (May 7, 2024) Ireland (May 28, 2024) Norway (May 28, 2024) Spain (May 28, 2024) Slovenia (June 4, 2024) Armenia (June 21, 2024) Mexico (February 5, 2025) - Countries intending to recognize Palestine - The momentum for Palestinian statehood is set to intensify at the UN General Assembly in September 2025, with several nations pledging to recognize Palestine in a collective stand. These countries include: Australia (September 2025) France (September 2025) Malta (September 2025) San Marino (planned for 2025, exact date TBD) - Conditional recognitions - Two significant Western countries, Canada and the United Kingdom, have conditioned their recognition of Palestine on political and peace-related developments. Canada: Prime Minister Mark Carney stated that Canada would recognize Palestine in September 2025 if the Palestinian Authority (PA) commits to holding elections in 2026 and implements other democratic reforms. United Kingdom: Prime Minister Keir Starmer announced the UK's intention to recognize Palestine in September 2025 unless 'Israel' agrees to a ceasefire in Gaza, takes concrete steps to end the humanitarian crisis, recommits to a two-state solution, and clarifies that no annexation of the West Bank will occur. - Actively considering the recognition of Palestine - Portugal: Portugal is actively considering recognition, with discussions underway as of July 2025. New Zealand: New Zealand's Cabinet is set to make a formal decision in September on whether to recognize a Palestinian state. - 'Israeli'-US anger - The Israeli Occupation has fiercely opposed these recognitions, with Prime Minister Benjamin Netanyahu labeling them a 'reward for terror' and falsely claiming they strengthen Hamas. Such rhetoric dismisses the humanitarian catastrophe in Gaza and the legitimate aspirations of the Palestinian people. The United States, 'Israel's' staunchest ally, has echoed this opposition, with President Donald Trump calling France's decision 'reckless." The US has repeatedly vetoed UN resolutions for Palestinian full membership, obstructing global efforts to uphold Palestinian rights. Yet, the tide is turning. The recognitions by Ireland, Norway, and Spain, and the planned actions by France, Canada, and the UK, signal a growing defiance of US-'Israeli' dominance in shaping the narrative. These nations are prioritizing the cries of Gaza's people over diplomatic deference, recognizing that peace cannot come without justice for Palestinians.
Jordan News
5 hours ago
- Jordan News
Jordan Condemns Systematic Israeli Targeting of Journalists Covering the Aggression on Gaza - Jordan News
Jordan Condemns Systematic Israeli Targeting of Journalists Covering the Aggression on Gaza The Ministry of Foreign Affairs and Expatriates strongly condemned the systematic Israeli targeting of journalists covering the aggressive war on the Gaza Strip, the latest of which was the targeting of Al Jazeera correspondents Anas Al-Sharif and Mohammed Qreiqa, along with photographers Ibrahim Al-Zaher and Mohammed Noufal, which resulted in their deaths. اضافة اعلان The Ministry's spokesperson, Ambassador Dr. Sufyan Qudah, affirmed the Kingdom's rejection and condemnation of targeting journalists, considering it a war crime that requires holding the perpetrators accountable. He stressed that such crimes against media professionals constitute a blatant violation of international law, international humanitarian law, and the 1949 Geneva Convention on the Protection of Civilian Persons in Time of War. Qudah renewed the call for the international community to shoulder its legal and moral responsibilities, to immediately halt the Israeli aggression, to provide international protection for journalists, medical staff, and humanitarian organizations working in Gaza, to fulfill the Palestinian people's legitimate rights to establish their independent state on their national soil, and to stop crimes against them and hold the perpetrators accountable. —(Petra)
