financetom
Business
financetom
/
Business
/
Norway wealth fund posts record $222 billion annual profit on tech boom
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Norway wealth fund posts record $222 billion annual profit on tech boom
Jan 29, 2025 12:29 AM

OSLO (Reuters) - Norway's $1.8 trillion sovereign wealth fund, the world's largest, reported on Wednesday a record annual profit of 2.51 trillion crowns ($222 billion), driven by last year's tech rally.

"The American technology stocks in particular performed very well," Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), the fund's operator, said in a statement.

The fund, which invests the Norwegian state's revenues from oil and gas production, is one of the world's largest investors, owning on average 1.5% of all listed stocks worldwide.

It also invests in bonds, real estate and renewable energy assets.

($1 = 11.2858 Norwegian crowns)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-Auna S.A. Sees U.S. IPO Of 30 Million Class A Ordinary Shares- SEC Filing
BRIEF-Auna S.A. Sees U.S. IPO Of 30 Million Class A Ordinary Shares- SEC Filing
Mar 14, 2024
March 14 (Reuters) - * AUNA S.A. SEES U.S. IPO OF 30 MILLION CLASS A ORDINARY SHARES- SEC FILING * AUNA S.A.: ANTICIPATE THAT INITIAL PUBLIC OFFERING PRICE WILL BE BETWEEN US$13.00 AND US$15.00 PER CLASS A SHARE * AUNA S.A.:FOLLOWING COMPLETION OF OFFERING,ENFOCA,TO OWN ABOUT 72.9% OF CLASS B SHARES, REPRESENTING ABOUT 68.3% OF COMBINED VOTING POWER OF SHARES...
Hyundai to recall 28,439 vehicles in US due to oil leak risk, NHTSA says
Hyundai to recall 28,439 vehicles in US due to oil leak risk, NHTSA says
Mar 14, 2024
(Reuters) - Hyundai Motor America is recalling 28,439 vehicles in the U.S. as a possible oil leak may increase the risk of an engine compartment fire, the National Highway Traffic Safety Administration said on Thursday. The models being recalled are some 2018-2020 Genesis G80, 2017-2022 G90 and 2019-2022 G70 vehicles equipped with a 3.3-liter V6 turbocharged engine, the NHTSA said....
Lithium Americas Jumps In US Pre-Market Trading After Receiving Conditional Commitment For US$2.26B Project Loan
Lithium Americas Jumps In US Pre-Market Trading After Receiving Conditional Commitment For US$2.26B Project Loan
Mar 14, 2024
06:41 AM EDT, 03/14/2024 (MT Newswires) -- Lithium Americas Corp. ( LAC ) said Thursday that it received a conditional commitment for a US$2.26 billion loan from the US Energy Department to advance the Thacker Pass lithium project in Nevada. The company surged 11.3% at last look in US pre-market trading following the news. Lithium Americas ( LAC ) said...
Chinese automakers open factories abroad as export clout causes friction
Chinese automakers open factories abroad as export clout causes friction
Mar 14, 2024
SHANGHAI (Reuters) - Chinese automakers seeking global growth are building more car factories in overseas markets, as foreign regulators mull imposing measures against imports of China-made electric cars. Chery Auto is holding talks with the Italian government to manufacture there, Reuters reported on Wednesday. Should the talks succeed, Chery would be among the first Chinese automakers with a European manufacturing...
Copyright 2023-2026 - www.financetom.com All Rights Reserved