OSLO (Reuters) – The worth of Norway’s sovereign wealth fund, the world’s largest, rose to a document 20 trillion Norwegian crowns ($1.80 trillion) on Friday, doubling its worth in simply 5 years as oil and fuel income flowed in and inventory markets rose.
Constructed since 1996 as rainy-day financial savings, the fund owns about 1.5% of all listed shares globally and has grown to virtually 4 instances the scale of Norway’s annual gross home product, far exceeding unique projections.
The fund’s worth was comparable in dimension to the annual GDP of Australia, a rustic with 5 instances the inhabitants of Norway.
The fund didn’t instantly reply to a request for remark.
($1 = 11.0855 Norwegian crowns)
Ministers are to kick off the hunt for a brand new chair of the communications…
The identify Elon Musk is probably some of the recognisable within the modern-day.The richest man…
Glastonbury ticket holders have been left hundreds of kilos out of pocket after a luxurious…
Dame Elizabeth Corley, the chair of asset administration large Schroders, is becoming a member of…
Hello MR1,I completely see the place you might be coming from. Spaceports from Cornwall to…
A federal appeals court docket has dominated that Donald Trump's sweeping worldwide tariffs can stay…