Norway's Wealth Fund Ends Israeli Investments Amid Conflict

Norway's $2 trillion sovereign wealth fund announced it is ending contracts with asset managers for Israeli investments and has divested some portfolio parts due to the situation in Gaza and the West Bank. This follows media scrutiny over investments in an Israeli military service provider.

Norway's massive $2 trillion sovereign wealth fund has decided to cease its contracts with asset managers overseeing its investments in Israel. The move comes amid escalating tensions in Gaza and the West Bank.

This decision follows a review initiated last week after media reports emerged about the fund's stake in an Israeli jet engine company servicing the military. The fund has been actively reducing its holdings in Israeli firms, divesting from 11 out of its 61 holdings as of June 30.

Despite Norway's parliament rejecting a proposal to divest from companies operating in the occupied Palestinian territories, the fund continues to scrutinize its investments in Israeli companies for potential further divestments.

(With inputs from agencies.)