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More woe for Norwegian pension funds
Norway's Government Pension Fund lost NOK 29.6bn (€2.95bn) in 2008, a massive drop attributed to the equities, according to figures from Folketrygdfondet. The asset manager is a state-owned company, and is solely responsible for the domestic pension fund which invests only in Nordic countries. It has confirmed in its annual report for 2008 that the scheme had dropped by NOK ...
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Second Swedish Pension Fund takes huge tumble
The Second Swedish National Pension Fund/AP2 has recorded a sharp fall in its market worth for 2008, amounting to a return of -24 per cent on net assets. The return value, SEK -55.1bn, meant the Fund’s capital assets totalled SEK 173.3bn at the end of December 2008, and had a net inflow of SEK 0.9bn. The capital asset value was SEK 54.2bn lower than in 2007. The drop has been ...
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Norwegian Government Fund makes further exclusions towards more ethical investments
Following a recommendation from the Council on Ethics for the Government Pension Fund – Global, Norway’s Ministry of Finance has excluded American company Textron Inc. Corporation from the fund. Keeping in line with Norway’s pledge towards ethical investment, the country has excluded nine producers of cluster weapons from the investment branch of the Fund on the basis ...
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Norwegian pension fund reconsiders Israel investments
Norway’s Ministry of Finance is referring to its Ethical Guidelines for the Norwegian Government Pension Fund – Global following the situation in Gaza. According to the current Guidelines, the Council on Ethics shall recommend exclusion of companies from the fund’s investment universe where they see a considerable risk of contributing to serious or systematic human ...
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Norway Global fund suffers 7.7 drop
Norway’s Government Pension Fund – Global recorded all-time low returns of -7.7 per cent in quarter three of 2008 (Q3 2008), 1.8 per cent lower than that on the benchmark portfolio defined by the Ministry of Finance, according to the latest quarterly report by Norges Bank Investment Management (NBIM). NOK 128bn of transfers were made to the fund in the quarter, and at the end ...
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Swedish pension funds sell cluster-bomb holdings
Holdings in companies that market cluster weapons are to be sold by the Second Swedish National Pension Fund (AP2) and Forsta AP-fonden (AP1). The decisions have been made on the recommendation by the Ethical Council of the Swedish National Pension Funds, a convention endorsed by Sweden in May 2008, and the First to Fourth Swedish National Pension Funds have been advised to exclude ...
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Norway’s Government Pension Fund not addressing climate change
Norway’s Government Pension Fund has neglected to apply best practice in sustainable investments and is not yet fully addressing the impacts of global warming, according to the World Wildlife Fund, Norway (WWF-Norway). The fund, which is based on petroleum revenues, is currently estimated at $381bn, and is the world’s second largest sovereign wealth fund. More than one per ...
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Norway’s Economic Survey shines light on future of pensions
The medium-term outlook for public finances in Norway are in relatively good shape, partly due to increasing pension fund revenues, according to the Organisation for Economic Co-operation and Development’s ...
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ABP breaks into Norway
ABP’s recent investment in the Nordics is down to research showing that ';GDP growth in the Scandinavian countries will be the highest in Europe in the coming years,'; according to ABP investment spokesman, Michel Meijs. ABP Pension fund (ABP), a Dutch organisation, and Klepierre SA (Klepierre), a France-based real estate company, joined forces and entered into an ...
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Finland in need of pension reform says OECD
It will be vital that the Finnish economy keeps a large government surplus in the coming years and to ensure that labour force participation, especially among older workers, continues to rise, if it is to continue to perform well. The Organisation for Economic Co-operation and Development (OECD) has today published ...
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Swedish pension fund pulls out of cluster bombs
Swedish pension fund AP7 will sell all its holdings in companies making cluster bombs and nuclear weapons. The move by AP7, one of seven state-owned pension funds in Sweden, means holdings in Airbus parent EADS and US-based Lockheed Martin Corp. and General Dynamics Corp. will be sold. AP7 manages pension savings worth around 90bn kroner (about $15bn). The move follows news in April ...
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Swedish companies avoid the red
Swedish pension companies were given favourable evaluations by The Swedish Financial Supervisory Authority, Finansinspektionen (FI), in the Q2 2007 traffic light report. No insurance companies received a red light during that period, while pension companies as a whole – including life insurance companies and occupational pension funds – showed a larger margin to the red light ...
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Swedens AP funds update
Sweden’s AP1 – one of the buffer funds assigned by the Swedish Parliament to manage the Swedish people’s pension funds – has posted strong performance figures in both absolute and relative terms for the first half of 2007. The Forsta AP-fonden, which manages assets with a value of SEK 221bn, reported a total return on net assets of 6.3%, which is equal to SEK 1.3 bn ...
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At least 87 killed in twin attacks in Norway first suspect arrested
A gunman wearing police uniforms and police identification landed on a small island about 40 kilometers west of Oslo, shooting people at a youth camp two hours after the deadly bomb explosion rocked the government building quarters in the Norwegian capital city. (Xinhua/AFP Photo) The death toll of the twin attacks Friday in Norway may surpass 87 after more victims were discovered in the ...
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US teen takes Danish supermodel to prom
A Southern California teenager turned heads at his prom when he showed up with a Danish model as his date. Sports Illustrated model Nina Agdal agreed to step in as Jake Davidson's date for the traditional high school dance Thursday night after he got turned down by supermodel Kate Upton. The teenager appeared in a YouTube video that was viewed more than 2.5 million times asking Upton ...
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World s most beautiful girls live in Stockholm Sweden
Traveler's Digest, a magazine for travelers, has made a list of countries and cities where world's most beautiful women live. Russia and its capital of Moscow do not take the last place on the list, although the country and the city can not be found on such lists as "the safest, most fashionable and pleasant country in the world to ...
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Norwegian Breakaway ups the ante for whiz-bang cruise ship features
PRICING Norwegian Cruise Line has cruises listed on its website starting at $1,249 per person, double occupancy, for an inside cabin in mid-July. ...
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Riots spread outside Swedish capital
A bystander checks the debris around a row of burnt cars in the suburb of Rinkeby after youths rioted in several different suburbs around Stockholm May 23, 2013. (REUTERS/Fredrik Sandberg/Scanpix) STOCKHOLM – A nearly week-long spate of rioting spread outside Stockholm on Friday but authorities said police reinforcements sent to the Swedish capital had reduced the violence there, even ...
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Wait there are riots in Sweden
The riots, which have shattered Sweden's image abroad as a peaceful and egalitarian nation, have sparked a debate in Sweden about the assimilation of immigrants, who make up about 15 per cent of the population. ...
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Worlds largest Lego model unveiled in NY
The world's largest Lego model, a replica of a Star Wars spacecraft, has been unveiled in New York's Times Square.It took 32 builders 17,000 hours and five million Lego bricks to build the one-to-one-scale replica of a Star Wars X-Wing starfighter, which was three metres tall and 13 metres long.The model, which weighs more than 20,000 kilograms, was built in a Lego Model Shop in the ...
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Stockholm calmer but violence spreads outside Swedish capital
1 of 3. A bystander checks the debris around a row of burnt cars in the suburb of Rinkeby after youths rioted in several different suburbs around Stockholm May 23, ...
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Swedish police call in back-up after worst riots in years
Sweden Police in Stockholm called in reinforcements after rioters set cars and a school ablaze in a fifth night of rioting, described as the worst in years.About 30 cars have been torched and eight people, mostly aged in their early 20s, have been detained overnight.Police said they needed to call in extra back-up from the cities of Malmo and Gothenburg.The riots are mainly young people ...
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Cars shops ablaze in 5th night of Sweden riots
STOCKHOLM -- More than a dozen cars were torched and schools, shops and a police station were set ablaze as riots swept through Stockholm's immigrant-dominated suburbs for the fifth straight night, police and firefighters said ...
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Giant Lego Star Wars X-Wing lands on NYCs Times Square
Well, not quite. It's actually a replica of one flown in the famed movie franchise and represents the largest model ever made by Danish toy company Lego. Unveiled Thursday, the spectacular structure consists of more than 5.3 million of the company's multicolored plastic bricks, weighs almost 46,000 pounds (20,865 kilograms) and took 32 builders about 17,000 hours to put together. ...
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U.K. U.S. warn against travel in Sweden during riots
The United Kingdom and the United States have issued a travel warning for Sweden following a string of arson attacks in Stockholm's suburbs, officials said. The United States Friday sent an email to all U.S. nationals living in Sweden, warning them to stay away from the affected areas, The Local.se reported. "Even demonstrations intended to be peaceful can turn confrontational and ...
A Look at Copenhagen
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Copenhagen leading the eco-charge
Copenhagen has, for many decades, been an extremely influential city in world affairs, most notably in the realm of environmental management and conservation activities. It is in Copenhagen that world leaders meet to agree on eco-friendly policies at the famous Copenhagen Accord, and the city will host mayors from around the world at the Copenhagen Summit. So what is the extent of the city’s leadership on such issues?
Copenhagen has long been considered one of the most environmentally friendly cities in the world. In 1973 Denmark was the first country in the world to implement a national Environmental Law, and this paved the way for a strong combination of national and municipal legislation aimed at limiting the cities carbon footprint. Read more
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