Latest news with #NorgesBank
Bloomberg
27-05-2025
- Business
- Bloomberg
AI-Work Pressure Mounts for European Financiers
Get caught up. By Save Still not using artificial intelligence on the job? You better be soon, at least if you count among the 670 financiers working at Norway's $1.8 trillion sovereign wealth fund. 'It isn't voluntary to use AI or not,' Norges Chief Executive Officer Nicolai Tangen told us in an interview. 'If you don't use it, you will never be promoted. You won't get a job.' The executive, who's already frozen hiring, expects AI to boost efficiency across the asset-management industry. Some bankers expect the technology to transform the global economy just as the steam engine did during the 19th century.
Yahoo
22-05-2025
- Business
- Yahoo
Equinor ASA: Announcement of cash dividend per share in NOK for fourth quarter 2024
Equinor ASA (OSE: EQNR, NYSE: EQNR) announced on 5 February 2025 a cash dividend per share of USD 0.37 for fourth quarter 2024. The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 16 May 2025, in total seven business days. Average Norges Bank fixing rate for this period was 10.3284. Total cash dividend for fourth quarter 2024 of is consequently NOK 3.8215 per share. On 28 May 2025, the cash dividend will be paid to relevant shareholders on Oslo Børs (Oslo Stock Exchange) and to holders of American Depositary Receipts ("ADRs") on New York Stock Exchange. This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Yahoo
11-05-2025
- Business
- Yahoo
Norway's Wealth Fund to engage Rio Tinto, South32 over environmental concerns
(Reuters) -Norway's sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), has decided to actively engage with mining companies Rio Tinto and South32 regarding their environmental practices, the fund operator said on Sunday. The executive board of the largest sovereign wealth fund in the world said it arrived at this decision following a recommendation to sell its stake in the companies from the Council on Ethics, an independent adviser appointed by the government of Norway. The fund owns an about 2.5% stake in Rio Tinto PLC, 0.13% stake in Rio Tinto Ltd and a 2.6% stake in South32, according to LSEG data. The council pointed to concerns over the companies' involvement in the Mineração Rio do Norte (MRN) joint venture, a significant bauxite mine in the Amazon rainforest. The executive board of the wealth fund said in a statement it decided to engage with the companies on their work to reduce serious environmental damage over a period of five to 10 years. The Mineração Rio do Norte is a joint venture between Glencore which owns a 45% stake, Rio Tinto with a 22% stake and South32, which owns a 33% stake. Seperately, the fund said it revoked the exclusion of German energy firm RWE AG, commending its shift towards renewable energy. Meanwhile, it said decided to sell its shares in Mexican oil company Petroleos Mexicanos and Israeli firm Paz Retail and Energy, citing ethical concerns. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
11-05-2025
- Business
- Reuters
Norway's Wealth Fund to engage Rio Tinto, South32 over environmental concerns
May 12 (Reuters) - Norway's sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), has decided to actively engage with mining companies Rio Tinto ( opens new tab and South32 ( opens new tab regarding their environmental practices, the fund operator said on Sunday. The executive board of the largest sovereign wealth fund in the world said it arrived at this decision following a recommendation to sell its stake in the companies from the Council on Ethics, an independent adviser appointed by the government of Norway. The fund owns an about 2.5% stake in Rio Tinto PLC (RIO.L), opens new tab, 0.13% stake in Rio Tinto Ltd ( opens new tab and a 2.6% stake in South32, according to LSEG data. The council pointed to concerns over the companies' involvement in the Mineração Rio do Norte (MRN) joint venture, a significant bauxite mine in the Amazon rainforest. The executive board of the wealth fund said in a statement it decided to engage with the companies on their work to reduce serious environmental damage over a period of five to 10 years. The Mineração Rio do Norte is a joint venture between Glencore (GLEN.L), opens new tab which owns a 45% stake, Rio Tinto with a 22% stake and South32, which owns a 33% stake. Seperately, the fund said it revoked the exclusion of German energy firm RWE AG ( opens new tab, commending its shift towards renewable energy. Meanwhile, it said decided to sell its shares in Mexican oil company Petroleos Mexicanos and Israeli firm Paz Retail and Energy ( opens new tab, citing ethical concerns.
Reuters
11-05-2025
- Business
- Reuters
Norway wealth fund revokes exclusion on Germany's RWE
May 11 (Reuters) - Norway's $1.8 trillion sovereign wealth, the world's largest, has decided to revoke its exclusion on German utility RWE ( opens new tab, fund operator Norges Bank Investment Management said on Sunday. In 2020, Norway's sovereign wealth fund had excluded RWE, alongside Glencore, Anglo American, Sasol and AGL Energy, for the use and production of coal under updated ethical guidelines. In 2022, RWE, Germany's biggest utility, brought forward its coal phase-out by eight years and is ready to end lignite-based electricity generation in 2030 as part of a deal reached with the government. The Norwegian fund said that several milestones with regards to the phaseout have already been reached. "We consider that the coal-fired power capacity is now below the absolute threshold specified in the coal criterion. Coal mining will nevertheless remain above the threshold for some time to come," fund operator NBIM said in a statement. About half of RWE's installed renewable capacity is based in the United States.
