Latest news with #OilFund
Yahoo
12-08-2025
- Business
- Yahoo
Norway's sovereign wealth fund sells its shares in 11 Israeli firms
Norway's sovereign wealth fund has sold its shares in 11 Israeli companies, its managers said on Monday, a move they said reduces its holdings in the country against the backdrop of the 'serious humanitarian crisis' in Gaza. The management of the fund, which invests Norway's profits from oil and gas, said in a statement that it had investments in 61 Israeli companies at the end of this year's first half. It said it decided last week to sell all its investments in 11 firms that are not in the Norwegian Finance Ministry's equity benchmark index, and it has spent recent days completing those sales. It did not identify the companies concerned. The fund also said it will move all investments in Israeli companies that have been run by external managers in-house and is terminating contracts with external managers in Israel. Related European leaders criticise Israel's Gaza City takeover decision as humanitarian concerns rise Norwegian PM backs Israel but calls for 'proportionality' in Hamas offensive 'These measures were taken in response to extraordinary circumstances. The situation in Gaza is a serious humanitarian crisis,' said Nicolai Tangen, the CEO of Norges Bank Investment Management, which manages what is widely known as the Oil Fund. 'We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened. In response, we will further strengthen our due diligence.' Tangen added in a statement that the latest move 'will simplify the management of our investments in this market' and reduce the number of companies that the fund's council on ethics monitors. The fund's management noted that it intensified its monitoring of investments in Israeli companies last fall and sold its holdings in 'several' firms as a result. Officially known as the Government Pension Fund Global, the Oil Fund owns nearly 1.5% of all shares in the world's listed companies, with holdings in about 9,000 firms, according to its management's website. In 2022, in response to Moscow's invasion of Ukraine, the fund froze and sold off its Russian holdings. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
12-08-2025
- Business
- Euronews
Norway's sovereign wealth fund sells its shares in 11 Israeli firms
Norway's sovereign wealth fund has sold its shares in 11 Israeli companies, its managers said on Monday, a move they said reduces its holdings in the country against the backdrop of the 'serious humanitarian crisis' in Gaza. The management of the fund, which invests Norway's profits from oil and gas, said in a statement that it had investments in 61 Israeli companies at the end of this year's first half. It said it decided last week to sell all its investments in 11 firms that are not in the Norwegian Finance Ministry's equity benchmark index, and it has spent recent days completing those sales. It did not identify the companies concerned. The fund also said it will move all investments in Israeli companies that have been run by external managers in-house and is terminating contracts with external managers in Israel. 'These measures were taken in response to extraordinary circumstances. The situation in Gaza is a serious humanitarian crisis,' said Nicolai Tangen, the CEO of Norges Bank Investment Management, which manages what is widely known as the Oil Fund. 'We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened. In response, we will further strengthen our due diligence.' Tangen added in a statement that the latest move 'will simplify the management of our investments in this market' and reduce the number of companies that the fund's council on ethics monitors. The fund's management noted that it intensified its monitoring of investments in Israeli companies last fall and sold its holdings in 'several' firms as a result. Officially known as the Government Pension Fund Global, the Oil Fund owns nearly 1.5% of all shares in the world's listed companies, with holdings in about 9,000 firms, according to its management's website. In 2022, in response to Moscow's invasion of Ukraine, the fund froze and sold off its Russian holdings.
The Advertiser
11-08-2025
- Business
- The Advertiser
Norwegian fund sells shares in 11 Israeli companies
Norway's sovereign wealth fund has sold its shares in 11 Israeli companies, its managers say, a move they said reduces its holdings in the country against the backdrop of the "serious humanitarian crisis" in Gaza. The management of the fund, which invests Norway's profits from oil and gas, said in a statement that it had investments in 61 Israeli companies at the end of this year's first half. It said it decided last week to sell all its investments in 11 firms that are not in the Norwegian Finance Ministry's equity benchmark index, and has spent recent days completing those sales. It did not identify the companies concerned. The fund also said it will move all investments in Israeli companies that have been run by external managers in-house and is terminating contracts with external managers in Israel. "These measures were taken in response to extraordinary circumstances. The situation in Gaza is a serious humanitarian crisis," said Nicolai Tangen, the chief executive of Norges Bank Investment Management, which manages what is widely known as the Oil Fund. "We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened. In response, we will further strengthen our due diligence." Tangen added in a statement that the latest move "will simplify the management of our investments in this market" and reduce the number of companies that the fund's council on ethics monitors. The fund's management noted that it intensified its monitoring of investments in Israeli companies last fall and sold its holdings in "several" firms as a result. Officially known as the Government Pension Fund Global, the Oil Fund owns nearly 1.5 per cent of all shares in the world's listed companies, with holdings in about 9000 firms, according to its management's website. Norway's sovereign wealth fund has sold its shares in 11 Israeli companies, its managers say, a move they said reduces its holdings in the country against the backdrop of the "serious humanitarian crisis" in Gaza. The management of the fund, which invests Norway's profits from oil and gas, said in a statement that it had investments in 61 Israeli companies at the end of this year's first half. It said it decided last week to sell all its investments in 11 firms that are not in the Norwegian Finance Ministry's equity benchmark index, and has spent recent days completing those sales. It did not identify the companies concerned. The fund also said it will move all investments in Israeli companies that have been run by external managers in-house and is terminating contracts with external managers in Israel. "These measures were taken in response to extraordinary circumstances. The situation in Gaza is a serious humanitarian crisis," said Nicolai Tangen, the chief executive of Norges Bank Investment Management, which manages what is widely known as the Oil Fund. "We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened. In response, we will further strengthen our due diligence." Tangen added in a statement that the latest move "will simplify the management of our investments in this market" and reduce the number of companies that the fund's council on ethics monitors. The fund's management noted that it intensified its monitoring of investments in Israeli companies last fall and sold its holdings in "several" firms as a result. Officially known as the Government Pension Fund Global, the Oil Fund owns nearly 1.5 per cent of all shares in the world's listed companies, with holdings in about 9000 firms, according to its management's website. Norway's sovereign wealth fund has sold its shares in 11 Israeli companies, its managers say, a move they said reduces its holdings in the country against the backdrop of the "serious humanitarian crisis" in Gaza. The management of the fund, which invests Norway's profits from oil and gas, said in a statement that it had investments in 61 Israeli companies at the end of this year's first half. It said it decided last week to sell all its investments in 11 firms that are not in the Norwegian Finance Ministry's equity benchmark index, and has spent recent days completing those sales. It did not identify the companies concerned. The fund also said it will move all investments in Israeli companies that have been run by external managers in-house and is terminating contracts with external managers in Israel. "These measures were taken in response to extraordinary circumstances. The situation in Gaza is a serious humanitarian crisis," said Nicolai Tangen, the chief executive of Norges Bank Investment Management, which manages what is widely known as the Oil Fund. "We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened. In response, we will further strengthen our due diligence." Tangen added in a statement that the latest move "will simplify the management of our investments in this market" and reduce the number of companies that the fund's council on ethics monitors. The fund's management noted that it intensified its monitoring of investments in Israeli companies last fall and sold its holdings in "several" firms as a result. Officially known as the Government Pension Fund Global, the Oil Fund owns nearly 1.5 per cent of all shares in the world's listed companies, with holdings in about 9000 firms, according to its management's website. Norway's sovereign wealth fund has sold its shares in 11 Israeli companies, its managers say, a move they said reduces its holdings in the country against the backdrop of the "serious humanitarian crisis" in Gaza. The management of the fund, which invests Norway's profits from oil and gas, said in a statement that it had investments in 61 Israeli companies at the end of this year's first half. It said it decided last week to sell all its investments in 11 firms that are not in the Norwegian Finance Ministry's equity benchmark index, and has spent recent days completing those sales. It did not identify the companies concerned. The fund also said it will move all investments in Israeli companies that have been run by external managers in-house and is terminating contracts with external managers in Israel. "These measures were taken in response to extraordinary circumstances. The situation in Gaza is a serious humanitarian crisis," said Nicolai Tangen, the chief executive of Norges Bank Investment Management, which manages what is widely known as the Oil Fund. "We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened. In response, we will further strengthen our due diligence." Tangen added in a statement that the latest move "will simplify the management of our investments in this market" and reduce the number of companies that the fund's council on ethics monitors. The fund's management noted that it intensified its monitoring of investments in Israeli companies last fall and sold its holdings in "several" firms as a result. Officially known as the Government Pension Fund Global, the Oil Fund owns nearly 1.5 per cent of all shares in the world's listed companies, with holdings in about 9000 firms, according to its management's website.
Perth Now
11-08-2025
- Business
- Perth Now
Norwegian fund sells shares in 11 Israeli companies
Norway's sovereign wealth fund has sold its shares in 11 Israeli companies, its managers say, a move they said reduces its holdings in the country against the backdrop of the "serious humanitarian crisis" in Gaza. The management of the fund, which invests Norway's profits from oil and gas, said in a statement that it had investments in 61 Israeli companies at the end of this year's first half. It said it decided last week to sell all its investments in 11 firms that are not in the Norwegian Finance Ministry's equity benchmark index, and has spent recent days completing those sales. It did not identify the companies concerned. The fund also said it will move all investments in Israeli companies that have been run by external managers in-house and is terminating contracts with external managers in Israel. "These measures were taken in response to extraordinary circumstances. The situation in Gaza is a serious humanitarian crisis," said Nicolai Tangen, the chief executive of Norges Bank Investment Management, which manages what is widely known as the Oil Fund. "We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened. In response, we will further strengthen our due diligence." Tangen added in a statement that the latest move "will simplify the management of our investments in this market" and reduce the number of companies that the fund's council on ethics monitors. The fund's management noted that it intensified its monitoring of investments in Israeli companies last fall and sold its holdings in "several" firms as a result. Officially known as the Government Pension Fund Global, the Oil Fund owns nearly 1.5 per cent of all shares in the world's listed companies, with holdings in about 9000 firms, according to its management's website.
The Hill
11-08-2025
- Business
- The Hill
Norway's sovereign wealth fund sells its shares in 11 Israeli companies
OSLO, Norway (AP) — Norway's sovereign wealth fund has sold its shares in 11 Israeli companies, its managers said Monday, a move they said reduces its holdings in the country against the backdrop of the 'serious humanitarian crisis' in Gaza. The management of the fund, which invests Norway's profits from oil and gas, said in a statement that it had investments in 61 Israeli companies at the end of this year's first half. It said it decided last week to sell all its investments in 11 firms that are not in the Norwegian Finance Ministry's equity benchmark index, and has spent recent days completing those sales. It did not identify the companies concerned. The fund also said it will move all investments in Israeli companies that have been run by external managers in-house and is terminating contracts with external managers in Israel. 'These measures were taken in response to extraordinary circumstances. The situation in Gaza is a serious humanitarian crisis,' said Nicolai Tangen, the CEO of Norges Bank Investment Management, which manages what is widely known as the Oil Fund. 'We are invested in companies that operate in a country at war, and conditions in the West Bank and Gaza have recently worsened. In response, we will further strengthen our due diligence.' Tangen added in a statement that the latest move 'will simplify the management of our investments in this market' and reduce the number of companies that the fund's council on ethics monitors. The fund's management noted that it intensified its monitoring of investments in Israeli companies last fall and sold its holdings in 'several' firms as a result. Officially known as the Government Pension Fund Global, the Oil Fund owns nearly 1.5% of all shares in the world's listed companies, with holdings in about 9,000 firms, according to its management's website.
