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Norway sovereign fund expects to sell more Israeli stocks over Gaza, West Bank

Norway sovereign fund expects to sell more Israeli stocks over Gaza, West Bank
FILE PHOTO: A Norwegian flag flutters over building in Oslo, Norway May 31, 2017. REUTERS/Ints Kalnins/File Photo
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Updated 12 August 2025

Norway sovereign fund expects to sell more Israeli stocks over Gaza, West Bank

Norway sovereign fund expects to sell more Israeli stocks over Gaza, West Bank
  • Norway’s $2 trillion sovereign wealth fund, the world’s largest, said on Tuesday it expects to divest from more Israeli companies as part of its ongoing review of investments in the country

ARENDAL: Norway’s $2 trillion sovereign wealth fund, the world’s largest, said on Tuesday it expects to divest from more Israeli companies as part of its ongoing review of investments in the country over the situation in Gaza and the West Bank.
The fund announced on Monday it was terminating contracts with external asset managers handling some of its Israeli investments and has divested parts of its portfolio in the country over the worsening humanitarian crisis in Gaza.
The review began last week following media reports that the fund had built a stake of just over 2 percent in an Israeli jet engine group that provides services to Israel’s armed forces, including the maintenance of fighter jets.
The stake in the company, Bet Shemesh Engines Ltd. (BSEL) , has now been sold, the fund announced on Tuesday.
Bet Shemesh did not respond to requests for comment.
Norges Bank Investment Management (NBIM), an arm of Norway’s central bank, which held stakes in 61 Israeli companies as of June 30, in recent days divested stakes in 11 firms, including BSEL. It did not name the other companies.
“We expect to divest from more companies, NBIM CEO Nicolai Tangen told a press conference on Tuesday.
The fund began investing in BSEL in November 2023, about one month after the war in Gaza began, via an external investment manager, Tangen said.
The fund declined to name the external portfolio manager.
Since then, NBIM has held quarterly meetings with Bet Shemesh Holdings, but the war in Gaza was not raised as a theme.
“We had discussions about their business in the United States, not about the war in Gaza,” Tangen said, adding that the fund had rated BSEL as a “medium risk” stock with regards to ethics concerns.
The fund, which invests the Norwegian state’s revenues from oil and gas production, is one of the world’s largest investors, owning on average 1.5 percent of all listed stocks worldwide. It also invests in bonds, real estate and renewable energy projects.


Russia says intercepted 209 Ukrainian drones overnight

Russia says intercepted 209 Ukrainian drones overnight
Updated 4 sec ago

Russia says intercepted 209 Ukrainian drones overnight

Russia says intercepted 209 Ukrainian drones overnight
MOSCOW: Ukraine launched a major drone attack on Russia for the second day in a row, Moscow said Tuesday, reporting that it had intercepted 209 drones overnight and in the morning.
The attack is Kyiv’s second consecutive barrage on Russia as it steps up retaliatory strikes.
Most of the drones were shot down over the regions of Kursk, Nizhny Novgorod and Belgorod, Russia’s defense ministry said in a statement.
The strikes hit an unidentified industry enterprise in the Nizhny Novgorod region, Governor Gleb Nikitin said.
Russian authorities did not report any injuries or deaths on Tuesday.
On Monday, Ukraine launched 251 drones toward Russia, and two people died in a rocket strike on the city of Belgorod around 30 kilometers (19 miles) from the Ukrainian border.
“One thousand people in four settlements remain without electricity,” according to Belgorod’s governor Vyacheslav Gladkov, adding that repair works were ongoing after the barrage.
Kyiv is ramping up strikes on Russia’s energy and oil infrastructure, in what it sees as a legitimate response to Moscow’s daily attacks on Ukrainian cities, which have at times left millions without heating and power.
Ukraine said Russia had launched 154 drones and missiles overnight Monday-Tuesday, around half of which were intercepted.
An unmanned aircraft hit railway and energy infrastructure in Ukraine’s Poltava and Sumy regions, leaving more than 1,000 people without electricity.
The Russian army controls around one-fifth of Ukraine’s territory, including the Crimean peninsula annexed in 2014, and has been grinding forward on the battlefield, with both militaries suffering immense losses.

UK’s Starmer condemns pro-Palestinian protests on Oct 7 anniversary

UK’s Starmer condemns pro-Palestinian protests on Oct 7 anniversary
Updated 58 min 47 sec ago

UK’s Starmer condemns pro-Palestinian protests on Oct 7 anniversary

UK’s Starmer condemns pro-Palestinian protests on Oct 7 anniversary

LONDON: British Prime Minister Keir Starmer urged students to skip pro-Palestinian protests planned for the second anniversary on Tuesday of Hamas’s October 7, 2023, attack in Israel, suggesting they were disrespectful.
Students from several London universities were due to walk out of classes at 2:00 p.m. (1300 GMT) before marching through the center of the British capital.
Rallies or events including vigils were also planned in other UK cities, including Edinburgh, Glasgow, Sheffield and Manchester, where an attack outside a synagogue on Thursday left two people dead — one killed in the attack, the other dying after suffering a fatal gunshot, likely from armed police officers.
Writing in the Times newspaper, Starmer alleged that regular pro-Palestinian protests have been used by some as a “despicable excuse to attack British Jews for something over which they have absolutely no responsibility.”
He called that “a total loss of empathy and humanity.”
Citing Tuesday’s planned protests, Starmer wrote: “This is not who we are as a country.
“It’s un-British to have so little respect for others. And that’s before some of them decide to start chanting hatred toward Jewish people all over again.”
The Jewish Bloc for Palestine said on Saturday the government was trying “to weaponize the fear and grief of our community by resurrecting a slur — that those protesting for Palestine represent a danger to Jews.”
In a separate statement marking the anniversary, Starmer said the past two years had seen “rising antisemitism” in the UK, including the car ramming and stabbing attack in Manchester, which took place on Yom Kippur, the holiest day in the Jewish calendar.
“This is a stain on who we are, and this country will always stand tall and united against those who wish harm and hatred upon Jewish communities,” said the British leader.
Israel’s military offensive has killed at least 67,160 Palestinians over the last two years, according to health ministry figures in the Hamas-run territory that the United Nations considers reliable.
“Since that awful day, so many have endured a living nightmare,” Starmer said, vowing to continue efforts to bring home British hostages held by Hamas in Gaza.
The prime minister, who made the landmark move for the UK to recognize a state of Palestine last month alongside other allies, welcomed the US plan “toward peace in the Middle East” in his statement.
Pro-Palestinian demonstrations went ahead over the weekend in Britain, despite pleas by the government for protesters to refrain from gathering following the Manchester attack.
Activist group Defend Our Juries said calling for an end to pro-Palestinian protests following the Manchester attack were “wrongly conflating the actions of the Israeli state with all Jews.”
“Jewish people around the world are not responsible for Israel’s crimes and there are many Jewish people who do not support the actions of the Israeli state,” DOJ’s Zoe Cohen said on Saturday.
Separately, about 3,000 people gathered in central London on Sunday for a commemorative event to mark the October 7 anniversary, waving Israeli and Union Jack flags and holding posters of hostages.


The Nobel Prize in physics is to be announced Tuesday

The Nobel Prize in physics is to be announced Tuesday
Updated 07 October 2025

The Nobel Prize in physics is to be announced Tuesday

The Nobel Prize in physics is to be announced Tuesday

STOCKHOLM: Nobel Prize in Physics will be announced Tuesday, the second award to be revealed this year by the Royal Swedish Academy of Sciences in Stockholm a day after a trio of scientists won the prize for contributions to medicine.
The physics honor has been awarded 118 times to 226 Nobel Prize laureates between 1901 and 2024.
Last year, artificial intelligence pioneers John Hopfield and Geoffrey Hinton won the physics prize for helping create the building blocks of machine learning.
Mary E. Brunkow, Fred Ramsdell and Dr. Shimon Sakaguchi won the Nobel Prize in medicine on Monday for discoveries about how the immune system knows to attack germs and not our bodies.
Nobel announcements continue with the chemistry prize on Wednesday and literature on Thursday. The Nobel Peace Prize will be announced Friday and the Nobel Memorial Prize in economics on Oct. 13.
The award ceremony will be held Dec. 10, the anniversary of the 1896 death of Alfred Nobel, the wealthy Swedish industrialist and the inventor of dynamite who founded the prizes.
The prizes carry priceless prestige and a cash award of 11 million Swedish kronor (nearly $1.2 million).


UN refugee agency chief suggests that US deportation practices violate the law

UN refugee agency chief suggests that US deportation practices violate the law
Updated 07 October 2025

UN refugee agency chief suggests that US deportation practices violate the law

UN refugee agency chief suggests that US deportation practices violate the law
  • Filippo Grandi on Monday also criticized a wider “backlash” in some countries against migrants and refugees
  • Grandi criticized an erosion of respect for international law in certain developed countries around migrants and refugees

GENEVA: The head of the UN refugee agency suggested Monday that President Donald Trump’s America has carried out deportation practices that violate international law, and criticized a wider “backlash” in some countries against migrants and refugees.
Filippo Grandi, the UN high commissioner for refugees, used a speech to lament that drastic funding cuts and shortages have forced his agency, UNHCR, to slash nearly 5,000 jobs this year, or nearly a quarter of its workforce. The cuts may not be finished, he said.
“This was certainly not an easy year for any of us,” Grandi told the opening of UNHCR’s executive committee. “But remember, please: There has never been an easy year to be a refugee — and there never will be.”
He did cite some bright spots and praised the Trump administration-led peace efforts in Congo, where conflict has displaced millions of people.
At the UN General Assembly last month, the Trump administration — which has slashed support this year for international humanitarian aid — pitched other countries on its view that the global system of seeking asylum has been abused and needs to be revamped, in part by cracking down on migration.
Other traditional donors have cut back their aid outlays for UNHCR this year.
In recent years, the agency has received roughly $5 billion a year — or half its budgetary requirements — even as conflict and repression in places like Afghanistan, Myanmar, Sudan, Venezuela and Ukraine have led the number of people fleeing their homes to roughly double over the last decade — to 122 million.
In the politically charged environment of today, Grandi said, “putting the (UN) Refugee Convention and the principle of asylum on the table would be a catastrophic error.” He insisted that “national sovereignty and the right to seek asylum ”are not incompatible. They are complementary.”
Grandi, whose term is up at the end of this year, decried an erosion of respect for international law in certain developed countries and noted that most refugees are taken in by poorer ones.
“I am worried that the current debate – in Europe, for example – and some current deportation practices – such as in the United States – address real challenges in manners not consistent with international law,” he said.
Tommy Pigott, a US State Department spokesman, defended US immigration and migration policies and said Trump’s speech at the United Nations was “a call to action against the destructive policies promoting mass and illegal migration that globalist bureaucrats have pushed for years.”
“Our actions are consistent with US law and the will of the American people, who demand secure borders and a lawful immigration system,” Pigott said.
Grandi also cited some optimistic developments: More than 1 million refugees from Syria have now returned home. A “glimmer of hope” has emerged in the eastern Congo conflict between Rwanda-backed forces and Congo’s armed forces.
“Thanks to peace efforts spearheaded by the United States, instead of speaking only of more bloodshed, or more refugees, we can start to think – cautiously, but a little bit more optimistically — of stability and returns,” he said.


Indonesia school collapse toll hits 67 as search ends

Indonesia school collapse toll hits 67 as search ends
Updated 07 October 2025

Indonesia school collapse toll hits 67 as search ends

Indonesia school collapse toll hits 67 as search ends

SIDOARJO: The search for victims of last week’s Indonesian school collapse ended on Tuesday with the death toll climbing to 67, an official said.
Part of the multi-story Islamic boarding school on Indonesia’s Java island caved in on September 29 as more than 170 students gathered for afternoon prayers.
“Entering the 9th day, we have concluded the search and rescue operation for the victims,” head of the National Search and Rescue Agency (Basarnas), Mohammad Syafii, told a press conference.
The agency’s operations director, Yudhi Bramantyo, said rescuers on Tuesday cleared all the rubble at the collapse site, scoured the area, and concluded it was very unlikely they would find more bodies.
“The total number of victims evacuated is 171, with 67 people dead, including eight body parts, and 104 people survived,” Yudhi told a press conference.
Budi Irawan, the deputy head of the national disaster agency (BNPB), said it is “very unlikely there are still bodies there.”
Only 17 bodies have been identified so far, according to the police’s Disaster Victim Identification unit.
The collapse was Indonesia’s deadliest disaster so far this year, according to the National Disaster Agency (BNPB).
Investigators have been examining the cause of the collapse, but initial indications suggest that substandard construction may have contributed to the incident, according to experts.
The families of the missing agreed last Thursday for heavy equipment to be used, after the 72-hour “golden period” for the best chance of survival came to an end. Lax construction standards have raised widespread concerns about building safety in Indonesia.
At least three people were killed and dozens were injured in September when a building hosting a prayer recital collapsed in West Java.