Arab Today, arab today norway sovereign wealth fund loses 15 bn in 2011
Last Updated : GMT 02:39:15
Arab Today, arab today
Arab Today, arab today

Norway sovereign wealth fund loses $15 bn in 2011

Arab Today, arab today

Arab Today, arab today Norway sovereign wealth fund loses $15 bn in 2011

Oslo - AFP

Norway\'s sovereign wealth fund lost $15 billion last year as European stock prices fell over uncertain growth prospects amid the debt crisis, the country\'s central bank said Friday. Investments made by the oil and gas rich country\'s sovereign wealth fund suffered a 2.5 percent loss in 2011 worth 86 billion kronor ($15 billion, 11.4 billion euros). \"The result reflects substantial declines in share prices in 2011 and increased uncertainty about government debt in the euro area,\" Yngve Slyngstad, chief executive officer of Norges Bank Investment Management (NBIM) which manages the fund, was quoted as saying in a central bank statement. \"Because more than half of the fund is invested in Europe, it is of great importance to us that authorities are successful in solving the considerable structural and monetary challenges faced by the euro countries,\" he added. The fund\'s stocks portfolio, half of which was invested in Europe, suffered an 8.8 percent loss. Fixed income investments brought a 7 percent return. Due to currency fluctuations and additional contributions by the Norwegian state the market value of the fund rose by 234 billion kroner to to 3.3 trillion kroner.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today norway sovereign wealth fund loses 15 bn in 2011 Arab Today, arab today norway sovereign wealth fund loses 15 bn in 2011

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today norway sovereign wealth fund loses 15 bn in 2011 Arab Today, arab today norway sovereign wealth fund loses 15 bn in 2011

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday