As the new administration under Prime Minister Erna Solberg reviews the current investment mandate of its USD800 billion wealth fund, top officials like Norway central bank Governor Oeystein Olsen were pushing for a diversification of investments.
Government
San Jose mayor leads in bid to ease statewide pension costs
Chuck Reed, the Mayor of San Jose, California, is leading a statewide voter initiative that aims to reduce skyrocketing costs of pension plans and retiree healthcare.
Portugal to sell postal service in first IPO since crisis
The Portuguese government would be selling 70% of postal firm CTT-Correios de Portugal next week in its first initial public offering (IPO) since a financial crisis had hit the nation.
Report shows investors how to trade Japanese tsunami on equities
The Japanese equities market is making a comeback under the leadership of Prime Minister Shinzo Abe. In his Forbes report, contributor Panos Mourdoukoutas suggests four ways investors can trade the Japanese tsunami on equities.
India revives plans stake sale of three firms to raise funds- report
A Bloomberg report cited officials from India's Finance Ministry who said the government plans to sell some of the stakes it holds in ITC Ltd, Axis Bank and Larsen & Toubro in order to gather funds.
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Rumors of coercion by the Russian government and President Vladimir Putin on local wealthy industrialists had been shut down by Deputy Prime Minister Dmitry Kozak, who said the moguls enjoyed good deals out of their investor participation for the 2014 Winter Olympics.
3 U.S Senators published an op-ed in the New York Times today, questioning on why American citizens were not able to have the knowledge to challenge the infringement of their privacy rights.
In its efforts to restructure the company, Bank of Cyprus hired former deputy chief executive Euan Hamilton from the Royal Bank of Scotland as a consultant. Bank of Cyprus's efforts to turn the state of the company around has been hindered by political infighting as well as heavy criticism over its lack of transparency.
The following bids, mergers, acquisitions and disposals were reported on Monday including Greece banking, Fiat, BOFA, Mechel, Saputo, RBS, Lohmann, Carlyle Group, Monte dei Paschi di Siena, Kuwait Airways, Dubai Holding, SunEdison, Blackstone, Greece National Bank, IMG Worldwide, KKR, Babcock, AMR, Orrick, BAC and Fisker Automotive.
Facebook CEO Mark Zuckerberg gave his thoughts about NSA surveillance techniques in an episode of 'This Week on ABC today.' Zuckerberg thought that the government failed regarding its actions on privacy matters and calls for more transparency.
The move of former Shenzhen Development Bank Chairman Xiao Suining to a private equity company was not very common among top Chinese bankers, according to a report from the South China Morning Post.
The Ethiopian government's program to lease farmland to private investors to grow food has experienced several setbacks, a report from Bloomberg said. The program was started in 2008.
Citing a draft of the fund, a report from Bloomberg said the planned Sovereign Wealth of Zimbabwe may obtain a portion of the country's share of mining revenues.
The new collateral-free microfinance program set to be implemented next year by the Finance Ministry of Thailand to fight illegal loan sharks may not gain wide acceptance due to its high interest rate, according to a report on The Nation.
