fbpx
  • Contact
Global World News
Monday, February 6, 2023
  • Home
    • All Category
    • Reuters Top News
    • General News
    • Major News
  • COVID
    • Health / Medicine
    • Medical Supplies
    • Pharmaceuticals & Medical Research
    • Biotechnology & Medical Research
    • Old COVID
    • Old Health / Medicine
  • Politics
    • Politics Expansions
    • Climate Politics
    • Old Politics
  • AFRICA
    • North Africa
    • Southern Africa
    • South Africa
    • East Africa
    • West Africa
    • Old Africa
  • ASIA
  • EUROPE
    • European Union
    • Euro Zone
    • Central / Eastern Europe (Energy)
    • East European Countries
    • Western Europe
    • South-Eastern Europe
    • Old Europe
  • Americas
    • North America
    • Central America
    • South America
    • Latin America
  • Middle East
    • Middle East (Energy)
    • Old Middle East
  • MORE
    • Germany
    • Russia
    • China (PRC)
    • Economic News
      • Economic Output
      • Economy
    • Business
    • Company News
    • Military Conflicts
    • Emergency
    • International and National Security
    • Diplomacy and Foreign Policy
    • Elections
  • Download APP
    • Apple App Store
    • Android Play Store
    • Huawei AppGallery
  • Contact
    • Privacy Policy
    • Terms & conditions
No Result
View All Result
  • Home
    • All Category
    • Reuters Top News
    • General News
    • Major News
  • COVID
    • Health / Medicine
    • Medical Supplies
    • Pharmaceuticals & Medical Research
    • Biotechnology & Medical Research
    • Old COVID
    • Old Health / Medicine
  • Politics
    • Politics Expansions
    • Climate Politics
    • Old Politics
  • AFRICA
    • North Africa
    • Southern Africa
    • South Africa
    • East Africa
    • West Africa
    • Old Africa
  • ASIA
  • EUROPE
    • European Union
    • Euro Zone
    • Central / Eastern Europe (Energy)
    • East European Countries
    • Western Europe
    • South-Eastern Europe
    • Old Europe
  • Americas
    • North America
    • Central America
    • South America
    • Latin America
  • Middle East
    • Middle East (Energy)
    • Old Middle East
  • MORE
    • Germany
    • Russia
    • China (PRC)
    • Economic News
      • Economic Output
      • Economy
    • Business
    • Company News
    • Military Conflicts
    • Emergency
    • International and National Security
    • Diplomacy and Foreign Policy
    • Elections
  • Download APP
    • Apple App Store
    • Android Play Store
    • Huawei AppGallery
  • Contact
    • Privacy Policy
    • Terms & conditions
No Result
View All Result
World News
No Result
View All Result
Home Banks

Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank

Reuters old by Reuters old
5 July 2021
in Banks, Business, Children / Youth Issues, Company News, Debt / Fixed Income Markets, Diplomacy and Foreign Policy, France, Israel, Mortgage-Backed Markets, Nordic States, Norway, Old Economy, Old Europe, Old Middle East, Palestinian Territories, Politics Expansions, Real Estate Markets, Reuters Top News, Technology, United States, Western Europe
0
Nordic fund KLP excludes 16 companies over links to Israeli settlements in West Bank

FILE PHOTO: A Jewish settler walks past Israeli settlement construction sites around Givat Zeev and Ramat Givat Zeev in the Israeli-occupied West Bank

0
SHARES
3
VIEWS
Share on FacebookShare on TwitterPodziel się na WhatsAppShare by Email

By Gwladys Fouche and Simon Jessop

OSLO (Reuters) -Norway’s largest pension fund KLP said on Monday it would no longer invest in 16 companies including Alstom and Motorola because of their links to Israeli settlements in the occupied West Bank.

Along with a number of other countries, Norway considers the settlements a breach of international law. Israel disputes this and cites Biblical and historical ties to the land, as well as security needs.

A 2020 United Nations report said it had found 112 companies that have operations linked to the West Bank, captured by Israel in a 1967 war and now home to around 450,000 Israelis and 3 million Palestinians.

The companies, which span telecoms, banking, energy and construction, all help facilitate Israel’s presence and therefore risk being complicit in breaches of international law, and against KLP’s ethical guidelines, it said in a statement.

“In KLP’s assessment, there is an unacceptable risk that the excluded companies are contributing to the abuse of human rights in situations of war and conflict through their links with the Israeli settlements in the occupied West Bank,” KLP said.

The move by KLP follows a decision by Norway’s sovereign wealth fund in May to exclude two companies linked to construction and real estate in the Palestinian territories.

KLP, which had $70 billion worth of assets under management at the end of the first quarter, said it had sold shares in the companies worth 275 million crowns ($31.81 million) and as of June had completed the process. In Motorola and Alstom, it had also sold its bond holdings.

Selling Motorola Solutions was “a very straightforward decision” as its video security and software was used in border surveillance.

Alstom did not reply to a request for comment. Motorola, with headquarters in Chicago, did not reply to a request for comment sent outside of U.S. office hours.

A senior member of the Palestine Liberation Organization (PLO) welcomed KLP’s move.

“The Norwegian step is significant to stop dealing with companies that support settlements on Palestinian land. We welcome it, and we urge other countries to take similar steps,” Wasel Abu Youssef told Reuters.

“After the United Nations announced its blacklist of companies that operate in settlements, all countries must either suspend the work of these companies or boycott them.”

Israeli authorities condemned KLP’s action.

“The decision harms Israelis and Palestinians and does not contribute to the resolution of the conflict,” an Israeli official said.

DIVESTMENTS

Telecoms companies including Bezeq and Cellcom Israel were removed as the services they provide help make the settlements more attractive residential areas, KLP said, while banks including Leumi helped finance the infrastructure.

In a similar vein, construction and engineering groups such as Alstom and local peers Ashtrom and Electra were responsible for building the infrastructure, while Paz Oil helped power them.

The other companies to be excluded were: Bank Hapoalim, Israel Discount Bank, Mizrahi Tefahot Bank, Delek Group, Energix Renewable Energies, First International Bank of Israel and Partner Communications.

Energix Renewable Energies told Reuters that, as of today, it had no activity or investments in the West Bank. In March 2021, it agreed to sell its stake in a photovoltaic plant there, and the sale concluded in June, filings to the Tel Aviv stock exchange showed.

Bezeq, Mizrahi Tefahot Bank, Bank Hapoalim and Partner Communications declined to comment. The other companies did not reply to requests for comment.

Telecoms company Altice, which was listed until January 2021, was also excluded.

Altice did not reply to a request for comment.

($1 = 8.6460 Norwegian crowns)

(Reporting by Gwladys Fouche in Oslo and Simon Jessop in London, Steven Scheer and Maayan Lubell in Jerusalem and Ali Sawafta in Ramallah, editing by Louise Heavens, Kirsten Donovan)

tagreuters.com2021binary_LYNXNPEH6403Y-VIEWIMAGE

Tags: Global World News
Previous Post

Factbox-England ends lockdown: No facemasks, no distancing, no WFH order

Next Post

Russian food retailer apologises for ad that included lesbians

Next Post
Russian food retailer apologises for ad that included lesbians

Russian food retailer apologises for ad that included lesbians

Facebook Twitter Instagram

© 2021 Dream Apps

No Result
View All Result
  • Home
    • All Category
    • Reuters Top News
    • General News
    • Major News
  • COVID
    • Health / Medicine
    • Medical Supplies
    • Pharmaceuticals & Medical Research
    • Biotechnology & Medical Research
    • Old COVID
    • Old Health / Medicine
  • Politics
    • Politics Expansions
    • Climate Politics
    • Old Politics
  • AFRICA
    • North Africa
    • Southern Africa
    • South Africa
    • East Africa
    • West Africa
    • Old Africa
  • ASIA
  • EUROPE
    • European Union
    • Euro Zone
    • Central / Eastern Europe (Energy)
    • East European Countries
    • Western Europe
    • South-Eastern Europe
    • Old Europe
  • Americas
    • North America
    • Central America
    • South America
    • Latin America
  • Middle East
    • Middle East (Energy)
    • Old Middle East
  • MORE
    • Germany
    • Russia
    • China (PRC)
    • Economic News
      • Economic Output
      • Economy
    • Business
    • Company News
    • Military Conflicts
    • Emergency
    • International and National Security
    • Diplomacy and Foreign Policy
    • Elections
  • Download APP
    • Apple App Store
    • Android Play Store
    • Huawei AppGallery
  • Contact
    • Privacy Policy
    • Terms & conditions

© 2021 Dream Apps

en English
af Afrikaanssq Shqipam አማርኛar العربيةhy Հայերենaz Azərbaycan dilieu Euskarabe Беларуская моваbn বাংলাbs Bosanskibg Българскиca Catalàceb Cebuanony Chichewazh-CN 简体中文zh-TW 繁體中文co Corsuhr Hrvatskics Čeština‎da Dansknl Nederlandsen Englisheo Esperantoet Eestitl Filipinofi Suomifr Françaisfy Fryskgl Galegoka ქართულიde Deutschel Ελληνικάgu ગુજરાતીht Kreyol ayisyenha Harshen Hausahaw Ōlelo Hawaiʻiiw עִבְרִיתhi हिन्दीhmn Hmonghu Magyaris Íslenskaig Igboid Bahasa Indonesiaga Gaeligeit Italianoja 日本語jw Basa Jawakn ಕನ್ನಡkk Қазақ тіліkm ភាសាខ្មែរko 한국어ku كوردی‎ky Кыргызчаlo ພາສາລາວla Latinlv Latviešu valodalt Lietuvių kalbalb Lëtzebuergeschmk Македонски јазикmg Malagasyms Bahasa Melayuml മലയാളംmt Maltesemi Te Reo Māorimr मराठीmn Монголmy ဗမာစာne नेपालीno Norsk bokmålps پښتوfa فارسیpl Polskipt Portuguêspa ਪੰਜਾਬੀro Românăru Русскийsm Samoangd Gàidhligsr Српски језикst Sesothosn Shonasd سنڌيsi සිංහලsk Slovenčinasl Slovenščinaso Afsoomaalies Españolsu Basa Sundasw Kiswahilisv Svenskatg Тоҷикӣta தமிழ்te తెలుగుth ไทยtr Türkçeuk Українськаur اردوuz O‘zbekchavi Tiếng Việtcy Cymraegxh isiXhosayi יידישyo Yorùbázu Zulu