Monday, February 6, 2023
HomeBusinessNorway sovereign wealth fund excludes AviChina, Bharat Electronics

Norway sovereign wealth fund excludes AviChina, Bharat Electronics

Text Size:

OSLO (Reuters) – Norway’s sovereign wealth fund, the world’s largest, said on Tuesday it has excluded China’s AviChina and India’s Bharat Electronics from its portfolio.

The two were excluded due to “unacceptable risk that (the) companies are selling weapons to a state that uses these weapons in ways that constitute serious and systematic breaches of international rules on conduct of hostilities,” the fund said.

“The background for the decision is sales of light airplanes and other military material respectively to the military in Myanmar,” Norges Bank Investment Management said.

(Reporting by Terje Solsvik; Editing by Chris Reese)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.

Subscribe to our channels on YouTube & Telegram

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

Most Popular