NORWAY-The Ministry of Finance plans to spend an additional NOK9.5bn (US$1.5bn) in oil revenues as the global financial crisis continues to take a toll on the local economy, the Ministry said in its revised national budget on Friday.
The additional funds, which will come from the Government Pension Fund-Global, is one of a number of measures in what the Ministry called the most expansionary fiscal budget in over 30 years. The Ministry...
NORWAY - The Government Pension Fund Global returned -8.8% or -NOK284bn ($52bn) due to stumbling global stock markets, third quarter results show.
NORWAY - EDB ErgoGroup ASA has agreed to costs totalling some NOK9m ($1.7m) per year to settle a pension dispute with employee unions over its decision to transfer some staffers from a defined benefit to a defined contribution plan.
NORWAY - The Ministry of Finance has confirmed that Martin Skancke has resigned his position as head of the department overseeing the Government Pension Fund Global.
NORDICS - Nordic investors are continuing to show optimism in hedge funds with nearly a third planning to increase their exposure this year to strategies like global macro, event driven and long/short funds, a new report shows.
NORWAY - The Government Pension Fund Global was up 0.3% in the second quarter after rising bond prices helped to offset drops in the global equities markets.