NEWS

Bloomberg: Norway Unexpectedly Withdraws Cash From Massive Wealth Fund

Category: Business News

Norway unexpectedly took almost $400 million from its sovereign wealth fund in August, marking the first such withdrawal in over a year as western Europe’s biggest petroleum producer takes advantage of its enormous piggy bank amid a decline in oil prices. Tapping the world’s biggest wealth fund remains an extremely rare occurrence in Norway. The government made its first […]

Source: Bloomberg

Published: October 1, 2019

Bloomberg: Norway’s Fund Wants to Add Up to $100 Billion in U.S. Stocks

Category: Business News

Norway’s wealth fund proposed overhauling its global holdings, calling for a shift away from Europe in a move that would allow it to boost its U.S. stock investments by as much $100 billion and take a larger chunk of the biggest technology companies. In a letter sent to the Finance Ministry released on Tuesday, the $1 trillion […]

Source: Bloomberg

Bloomberg: DNB Eclipses Nordea as the Biggest Bank in the Nordic Region

Category: Accounting / Financial

Norway’s DNB ASA has eclipsed perennial Nordic powerhouse Nordea Bank Abp as the biggest lender by market value in the Nordic region. DNB’s market value has now exceeded that of Nordea for the first time since the Helsinki-based lender was created through the merger of four Nordic banks at the end of 2001. Read entire […]

Source: Bloomberg

Bloomberg: Walmart Is Now Ethical Enough for Norway’s $1 Trillion Wealth Fund

Category: Accounting / Financial

Norway’s $1 trillion wealth fund revoked its more than decade-long exclusion on Walmart Inc. after the U.S. retailer tightened control over potential human rights abuses in its supply chain. Walmart has made “positive developments” in monitoring its suppliers, the fund’s Council on Ethics said in a statement released Tuesday. “Furthermore, the company engages actively in selected, high-risk […]

Source: Bloomberg

GlobeNewswire: Intertrust acquires Viteos for USD 330 million

Category: Accounting / Financial

Amsterdam, the Netherlands – 18 June 2019 – Intertrust N.V. (“Intertrust”), a leading global provider of expert administrative services to corporate, fund, capital markets and private wealth clients, today announces the acquisition of Viteos1, a provider of leading-edge technology solutions for U.S. funds, from PPC Enterprises LLC, FiveW Capital LLC (an affiliate of 22C Capital) […]

Source: GlobeNewswire