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Norway sovereign fund expects to sell more Israeli stocks over Gaza, West Bank

Norway sovereign fund expects to sell more Israeli stocks over Gaza, West Bank
FILE PHOTO: A Norwegian flag flutters over building in Oslo, Norway May 31, 2017. REUTERS/Ints Kalnins/File Photo
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Updated 6 sec ago

Norway sovereign fund expects to sell more Israeli stocks over Gaza, West Bank

Norway sovereign fund expects to sell more Israeli stocks over Gaza, West Bank
  • Norway’s $2 trillion sovereign wealth fund, the world’s largest, said on Tuesday it expects to divest from more Israeli companies as part of its ongoing review of investments in the country

ARENDAL: Norway’s $2 trillion sovereign wealth fund, the world’s largest, said on Tuesday it expects to divest from more Israeli companies as part of its ongoing review of investments in the country over the situation in Gaza and the West Bank.
The fund announced on Monday it was terminating contracts with external asset managers handling some of its Israeli investments and has divested parts of its portfolio in the country over the worsening humanitarian crisis in Gaza.
The review began last week following media reports that the fund had built a stake of just over 2 percent in an Israeli jet engine group that provides services to Israel’s armed forces, including the maintenance of fighter jets.
The stake in the company, Bet Shemesh Engines Ltd. (BSEL) , has now been sold, the fund announced on Tuesday.
Bet Shemesh did not respond to requests for comment.
Norges Bank Investment Management (NBIM), an arm of Norway’s central bank, which held stakes in 61 Israeli companies as of June 30, in recent days divested stakes in 11 firms, including BSEL. It did not name the other companies.
“We expect to divest from more companies, NBIM CEO Nicolai Tangen told a press conference on Tuesday.
The fund began investing in BSEL in November 2023, about one month after the war in Gaza began, via an external investment manager, Tangen said.
The fund declined to name the external portfolio manager.
Since then, NBIM has held quarterly meetings with Bet Shemesh Holdings, but the war in Gaza was not raised as a theme.
“We had discussions about their business in the United States, not about the war in Gaza,” Tangen said, adding that the fund had rated BSEL as a “medium risk” stock with regards to ethics concerns.
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 percent of all listed stocks worldwide. It also invests in bonds, real estate and renewable energy projects.


Myanmar security forces involved in systematic torture, UN report says

Myanmar security forces involved in systematic torture, UN report says
Updated 16 sec ago

Myanmar security forces involved in systematic torture, UN report says

Myanmar security forces involved in systematic torture, UN report says
  • The Independent Investigative Mechanism for Myanmar (IIIM), said victims were subject to beatings, electric shocks, strangulations and other forms of torture
GENEVA: United Nations investigators said on Tuesday they have found evidence of systematic torture by Myanmar security forces and identified some of the senior perpetrators.
The Independent Investigative Mechanism for Myanmar (IIIM), formed in 2018 to analyze evidence of serious violations of international law, said victims were subject to beatings, electric shocks, strangulations and other forms of torture like the removal of fingernails with pliers.
“We have uncovered significant evidence, including eyewitness testimony, showing systematic torture in Myanmar detention facilities,” Nicholas Koumjian, Head of the Mechanism said in a statement accompanying the 16-page report.
The torture sometimes resulted in death, the report said. Children, who are often unlawfully detained as proxies for their missing parents, were among those tortured, it said.
A spokesperson for Myanmar’s military-backed government did not immediately respond to requests for comment. The military-backed government has not responded to over two dozen requests by the UN team for information about the alleged crimes and requests to access the country, the UN report said.
The military says it has a duty to ensure peace and security. It has denied atrocities have taken place and has blamed “terrorists” for causing unrest.
The findings in the report covering a one-year period through to June 30 were based on information from more than 1,300 sources, including hundreds of eyewitness testimonies as well as forensic evidence, documents and photographs.
The list of perpetrators identified so far includes high-level commanders, the report said. An IIIM spokesperson declined to name them, saying investigations are ongoing and it wanted to avoid alerting the individuals.
The report also said that both Myanmar security forces and opposition armed groups had carried out summary executions in the conflict, and it had identified those responsible.
A government spokesperson and an opposition spokesperson were not immediately available for comment.
Myanmar has been in chaos since a 2021 military coup against an elected civilian government plunged the country into civil war. Tens of thousands of people have been detained since then in an attempt to silence opponents and recruit soldiers, the United Nations says.
Junta chief Min Aung Hlaing ended a four-year state of emergency
last month
and announced the formation of a new government, with himself as acting president, ahead of a planned election.
The IIIM is investigating abuses in Myanmar since 2011, including both crimes committed against the mainly Muslim Rohingya minority in 2017 when hundreds of thousands were forced to flee a military crackdown and violations affecting all groups since the coup.
The IIIM said that it is supporting several jurisdictions investigating the alleged crimes, such as Britain. However, the IIIM said in its report that UN budget cuts are threatening its work. “These financial pressures threaten the Mechanism’s ability to sustain its critical work and to continue supporting international and national justice efforts,” it said.

Russian forces pierce Ukraine lines in isolated advance

Russian forces pierce Ukraine lines in isolated advance
Updated 30 min 53 sec ago

Russian forces pierce Ukraine lines in isolated advance

Russian forces pierce Ukraine lines in isolated advance
  • Moscow’s army has made costly but incremental gains across the sprawling front in recent months
  • Russian gains in fighting around the village of Kucheriv Yar in the Donetsk region
KYIV: Russian forces have rapidly advanced in a narrow but important sector of the front line, the Ukrainian military and analysts said Tuesday, days ahead of a meeting between the Russian and US presidents.
Moscow’s army, which invaded Ukraine in 2022, has made costly but incremental gains across the sprawling front in recent months and claims to have annexed four Ukrainian regions while still fighting to control them.
The Ukrainian army said in a statement on Tuesday that there had been fighting around the village of Kucheriv Yar in the Donetsk region, acknowledging Russian gains.
The Ukrainian DeepState blog, which retains close connections with the military, showed Russian advances around 10 kilometers (six miles) over around two days.
The corridor now under Russian control threatens the town of Dobropillya, a mining town that civilians are fleeing and that has been coming under Russian drone attacks.
It also threatens the embattled and destroyed town of Kostiantynivka, which is one of the last large urban areas in the Donetsk region still held by Ukraine.
A popular military blogger, Sternenko, wrote on Telegram that Russian forces during the advance had taken control of parts of a highway connecting important population centers in Donetsk.
“The situation is critical,” he wrote earlier.
The Institute for the Study of War, a US-based observatory, meanwhile said: “Russian sabotage and reconnaissance groups are reportedly infiltrating areas near Dobropillya.”
“It is premature to call the Russian advances in the Dobropillya area an operational-level breakthrough,” it added, cautioning that the coming days would be key to fending off the attack.
US President Donald Trump, who is scheduled to meet Vladimir Putin on Friday has described the summit as a “feel-out meeting” to gauge the Russian leader’s ideas for ending the war in Ukraine.
European leaders meanwhile are rushing to ensure respect for Kyiv’s interests.

Toll of India Himalayan flood likely to be at least 70

Toll of India Himalayan flood likely to be at least 70
Updated 54 min 35 sec ago

Toll of India Himalayan flood likely to be at least 70

Toll of India Himalayan flood likely to be at least 70
  • Videos broadcast by survivors showed a terrifying surge of muddy water sweeping away multi-story apartment blocks

NEW DELHI: Indian officials say at least 68 people are unaccounted for a week after a deadly wall of icy water swept away a Himalayan town and buried it in mud.
On top of four people reported to have been killed, it takes the likely overall toll of the August 5 disaster to more than 70 dead.
Videos broadcast by survivors showed a terrifying surge of muddy water sweeping away multi-story apartment blocks.
Disaster officials said Tuesday that they were searching for corpses in the wreckage of the tourist town of Dharali in Uttarakhand state.
Gambhir Singh Chauhan, from the National Disaster Response Force, said sniffer dogs had identified several sites indicating there was a body but when “when digging started, water came out from below.”
Chauhan said teams were also using ground penetrating radar in the grim search.
More than 100 people were initially reported as missing.
But with roads swept away and mobile phone communications damaged, it has taken rescuers days to cross-check the list.
The local government now lists 68 people as missing, including 44 Indians and 22 Nepalis. Nine soldiers are on the list.
Deadly floods and landslides are common during the monsoon season from June to September, but experts say climate change, coupled with poorly planned development, is increasing their frequency and severity.
Climate change experts warned that the disaster was a “wake-up call” to the effects of global warming.
No official cause of the flood has been given, but scientists have said it was likely that intense rains triggered a collapse of debris from a rapidly melting glacier.
Himalayan glaciers, which provide critical water to nearly two billion people, are melting faster than ever before due to climate change, exposing communities to unpredictable and costly disasters.
The softening of permafrost increases the chances of landslides.


French nuclear power production expected to be reduced on Wednesday

French nuclear power production expected to be reduced on Wednesday
Updated 12 August 2025

French nuclear power production expected to be reduced on Wednesday

French nuclear power production expected to be reduced on Wednesday
  • A heatwave throughout France has led to multiple warnings of power reductions at a number of nuclear plants
  • Nuclear power accounts for about 70 percent of total French power consumption annually

PARIS: Power production at France’s Bugey 3 nuclear reactor in the east of the country is expected to be reduced by 500 megawatts (MW) on Wednesday, data from operator EDF showed on Tuesday, as high river temperatures reduce the plant’s ability to intake cooling water.

A heatwave throughout France has led to multiple warnings of power reductions at a number of nuclear plants, particularly on the Rhone river in the east and the Garonne in the west.

The Bugey 3 reactor has a maximum capacity of 910 MW, which will be reduced to 410 MW from 2:30 p.m. (1230 GMT) to midnight on Wednesday as the reactor is required to meet environmental safety measures, EDF’s data showed.

The high water temperature warnings for the Saint Alban plant – down river of the Bugey site – and the Golfech site in the west were moved to August 14, but restrictions have not yet been issued.

Average temperatures in the country are expected to continue to peak throughout the week, reaching a high of 28.5 degrees Celsius (83.3°F) on Saturday, LSEG data showed.

Nuclear power accounts for about 70 percent of total French power consumption annually, but August is the main holiday season throughout the country and electricity demand is often limited.


Cambodian migrant workers face an uncertain future as Thai border conflict drives them home

Cambodian migrant workers face an uncertain future as Thai border conflict drives them home
Updated 12 August 2025

Cambodian migrant workers face an uncertain future as Thai border conflict drives them home

Cambodian migrant workers face an uncertain future as Thai border conflict drives them home
  • Migrant workers fill vital roles in Thailand’s farming, construction and manufacturing industries
  • Cambodia’s Ministry of Labor and Vocational Training estimates 1.2 million Cambodians were working in Thailand when the border disputes began to escalate in June

KAMRIENG: Hundreds of thousands of Cambodian migrant workers have been heading home from Thailand as the two countries work to keep a ceasefire in armed clashes along their border.
Tensions between the countries have escalated due to disputes over pockets of land along their 800-kilometer (500-mile) border. A five-day clash in July left at least 43 people dead and displaced more than 260,000 in both Southeast Asian nations.
A fragile ceasefire brokered by Malaysia, with backing from the US and China, appears to be holding while officials try to resolve issues underlying the conflict. The retreat has left many of the workers streaming back to Cambodia wondering how to get by after they left jobs that enabled them to send money back to their families.
Kri Phart, a 56-year-old poultry worker, said he began packing after reading a post by Cambodian Prime Minister Hun Manet on Facebook urging migrants to return to Cambodia.
“I have no idea if the fighting will really stop and with fewer and fewer Cambodians in Thailand, I got nervous,” said Kri Phart, seated on a stoop with two big bags of belongings and a big electric fan. “I didn’t want to be the last Cambodian migrant in Thailand.”
“I got scared because of the border conflict,” said Kri Phart, one of thousands of Cambodians streaming shoulder-to-shoulder through the Daung International Border Gate last week, hauling rainbow colored bags, appliances and even guitars in the 40 Celsius (104 Fahrenheit) heat.
“Many of the Cambodians I knew working in Thailand ran away. Everyday more and more of us fled,” he said.
The reasons driving Cambodians to flee Thailand are varied. Human rights activists reported that some migrant workers had been attacked by gangs of young Thais. Others were alarmed by unsubstantiated rumors that the Cambodian government would seize their land and revoke their citizenships if they didn’t return home by mid-August.
Cambodia’s Ministry of Labor and Vocational Training estimates 1.2 million Cambodians were working in Thailand when the border disputes began to escalate in June. Estimates vary, but Sun Mesa, a ministry spokesman said at least 780,000 — about 65 percent — have returned to Cambodia.
He said the workers could find jobs with equal pay and benefits back home. Many of those who were driven by poverty or climate change to leave for work in Thailand expressed doubts.
“Now that I am back, there is going to be no income for a while and this will really put my family in a bad situation,” said Thouk Houy, 26, who left a job at a leather factory south of Bangkok that enabled her to send $70 to $100 a month back to her parents.
“I’m the last of my siblings who is still single, meaning it’s my responsibility to support my parents. I don’t know how I can do that now that I am back home,” she said.
Minor spats between Cambodian and Thai workers at the factory and her mother’s nightly pleas for her to go home were factors behind her decision to leave, she said. Handing over her belongings to be strapped into the back of a precariously packed van, Thouk Houy said the clincher was a claim by influential former Cambodian Prime Minister Hun Sen, father of the current prime minister, Hun Manet, that Thailand was preparing to invade.
“Now that I’m home, what will I do to make a living?” she said.
Migrant workers fill vital roles in Thailand’s farming, construction and manufacturing industries. They also send home close to $3 billion in remittances each year, according to labor ministry data.
The loss of that income can be devastating for families relying on it to manage big debts, said Nathan Green, an assistant professor of geography at the National University of Singapore.
“These kinds of conflicts demonstrate how precarious migrant livelihoods are in Cambodia,” Green said.
An overseas advocacy group, the Khmer Movement for Democracy, has urged the government to defer loan payments and provide incentives for companies to hire returning migrants.
“Without economic safeguards, families of returning migrants will not be able to repay their debts and financial institutions will be at their throats,” said Mu Sochua, the group’s president. “We are talking about the poorest of the poor, who will be deprived of incomes.”
Meng Yeam, who was trying to wave down a taxi while keeping an eye on his belongings, said he managed to send his family back home 20,000 baht (roughly $600) while working as a manager at a rubber factory in eastern Thailand’s Chonburi Province.
More than 90 percent of the Cambodians working in the factory have left, the 32-year-old said.
Meng Yeam said he expected his family to be okay, though it won’t be able to save as much as it did while he was working in Thailand. And he was glum about the prospects for things to return to normal.
“Cambodia and Thailand need each other to do well, but for now, it seems like we just cannot get along,” Meng Yeam said. “I hope we can work in Thailand again one day, but who knows, maybe I will be retired by the time we stop fighting.”