Norway wealth fund may divest companies that aid Israel in Gaza war, occupied territories

A Palestinian man lifts a national flag and flashes the victory sign as Israeli armoured vehicles including a bulldozer drive on a street during a raid in Tulkarem on September 3, 2024, amid a large-scale military offensive launched a week earlier in the occupied West Bank. (AFP)
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A Palestinian man lifts a national flag and flashes the victory sign as Israeli armoured vehicles including a bulldozer drive on a street during a raid in Tulkarem on September 3, 2024, amid a large-scale military offensive launched a week earlier in the occupied West Bank. (AFP)
Norway wealth fund may divest companies that aid Israel in Gaza war, occupied territories
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An Israeli soldier takes position next to an army vehicle on a street damaged by bulldozers during a raid in the centre of Jenin in the occupied West Bank on September 3, 2024. (AFP)
Norway wealth fund may divest companies that aid Israel in Gaza war, occupied territories
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Men walk through debris in a building that was hit by Israeli bombardment in the Sheikh Radwan neighbourhood in the north of Gaza City on September 3, 2024 amid the ongoing war in the Palestinian territory between Israel and Hamas. (AFP)
Norway wealth fund may divest companies that aid Israel in Gaza war, occupied territories
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A Palestinian civil defence member stands near a building on fire that was hit by Israeli bombardment in the Sheikh Radwan neighbourhood in the north of Gaza City on September 3, 2024 amid the ongoing war in the Palestinian territory between Israel and Hamas. (AFP)
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Updated 04 September 2024
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Norway wealth fund may divest companies that aid Israel in Gaza war, occupied territories

Norway wealth fund may divest companies that aid Israel in Gaza war, occupied territories
  • According to nongovernmental organizations, they make weapons used by Israel in Gaza, where its military offensive has killed nearly 41,000 Palestinians
  • The new definition of ethical breaches is based on the ICJ finding that “the occupation itself, Israel’s settlement policy and the way Israel uses the natural resources in the areas are in conflict with international law,” the letter said

OSLO: Norway’s $1.7 trillion wealth fund may have to divest shares of companies that violate the fund watchdog’s new, tougher interpretation of ethics standards for businesses that aid Israel’s operations in the occupied Palestinian territories.
The Council on Ethics for the world’s largest sovereign wealth fund sent an Aug. 30 letter to the finance ministry, seen by Reuters, that summarises the recently expanded definition of unethical corporate behavior. The change has not previously been reported.
The letter did not specify how many nor name companies whose stocks might be sold but suggested it would be a small number, should the board of the central bank, which has the final say, follow recommendations that the council makes.

HIGHLIGHTS

• Norway fund is world's largest sovereign wealth fund

• Companies active in occupied West Bank under review

• US arms producers being probed over Gaza war

• Watchdog expects to recommend "a few" companies for divestment

One company has already been identified for disinvestment under the new definition, it said. “The Council on Ethics believes the ethical guidelines provide a basis for excluding a few more companies from the Government Pension Fund Global in addition to those already excluded,” the watchdog wrote, giving the formal name for Norway’s sovereign wealth fund.
The fund has been an international leader in the environmental, social and governance (ESG) investment field. It owns 1.5 percent of the world’s listed shares across 8,800 companies, and its size carries influence.
Since the start of the war in Gaza in October, the fund’s ethics watchdog has been investigating whether more companies fall outside its permitted investment guidelines. The letter said that the scope of exclusions was “expected to increase somewhat” under the new policy.
Among the companies that the watchdog could be looking at are RTX Corp, General Electric and General Dynamics. According to nongovernmental organizations, they make weapons used by Israel in Gaza, where its military offensive has killed nearly 41,000 Palestinians. The companies did not immediately reply to requests for comment.
The fund held investments worth 16 billion crowns ($1.41 billion) in Israel as of June 30, across 77 companies, according to fund data, including companies involved in real estate, banks, energy and telecommunications. They represented 0.1 percent of the fund’s overall investments.

NEW LEGAL OPINION
On Gaza, the council is focusing on weapon producers in countries not participating in the Arms Trade Treaty, a 2014 agreement on conventional weapons trade. “This mainly concerns American companies,” the letter said, without naming any.
It added, “There are very few relevant companies remaining in the fund” partly because many US defense manufacturers were already barred for producing nuclear weapons or cluster munitions.
The fund’s ethical rules are set by Norway’s parliament. The updated ethics definition by the watchdog results partly from a July opinion by the International Court of Justice regarding Israel’s occupation of Palestinian territories.
The court took positions on “several new facts and legal issues” that could make “companies with a less direct connection to violations of norms” in breach of the ethics rules, the letter said without providing examples.
The new definition of ethical breaches is based on the ICJ finding that “the occupation itself, Israel’s settlement policy and the way Israel uses the natural resources in the areas are in conflict with international law,” the letter said.
The fund previously divested from nine companies operating in the occupied West Bank under its prior policy. Their operations include building roads and homes in Israeli settlements in East Jerusalem and the West Bank and providing surveillance systems for an Israeli wall around the West Bank.
The Council on Ethics makes recommendations to the board of the central bank, which operates the fund. The bank often follows the watchdog’s advice to exclude firms, but not always.
The bank can also put a company on notice to change its behavior or ask the fund’s management to engage with it directly. Companies designated for disinvestment are not named until the fund has sold the shares.

 

 


France delivers first Mirage 2000 fighter jets to Ukraine: minister

Updated 8 sec ago
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France delivers first Mirage 2000 fighter jets to Ukraine: minister

France delivers first Mirage 2000 fighter jets to Ukraine: minister
  • France announced the delivery of the first fighter jets as talk of a negotiated end to the nearly three-year war has risen with Donald Trump back in the White House and Ukraine’s troops struggling on
Paris: France on Thursday delivered a first consignment of Mirage 2000-5 fighter jets to Ukraine to help Kyiv defend its airspace against Russia, Defense Minister Sebastien Lecornu said on Thursday.
“The first of these aircraft have arrived in Ukraine today,” Lecornu said on X, without saying how many had been delivered. After France helped train Ukrainian pilots over recent months, “they will now help defend Ukraine’s skies,” he added.
Last June, President Emmanuel Macron announced that France would transfer Mirage 2000-5 aircraft to Ukraine and train their Ukrainian pilots as part of military cooperation with Kyiv.
Of the 26 Mirage 2000-5 aircraft owned by the French air force, six were to be transferred to Ukraine, according to a budget report published by France’s National Assembly lower house.
The French defense ministry neither denied nor confirmed the figure for security reasons.
Ukrainian pilots and mechanics have been trained in eastern France to use the jets, which have undergone modifications including to combat Russian jamming.
France announced the delivery of the first fighter jets as talk of a negotiated end to the nearly three-year war has risen with Donald Trump back in the White House and Ukraine’s troops struggling on the battlefield in the east.
In August, Ukraine received its first consignment of US-made F-16 fighter jets.

Spain rejects Israel’s suggestion it should accept Palestinians from Gaza

Spain rejects Israel’s suggestion it should accept Palestinians from Gaza
Updated 06 February 2025
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Spain rejects Israel’s suggestion it should accept Palestinians from Gaza

Spain rejects Israel’s suggestion it should accept Palestinians from Gaza

MADRID: Spain’s Foreign Minister Jose Manuel Albares on Thursday rejected the suggestion by Israeli Defense Minister Israel Katz that Spain should accept displaced Palestinians from Gaza.
“Gazans’ land is Gaza and Gaza must be part of the future Palestinian state,” Albares said in an interview with Spanish radio station RNE.
Katz ordered the army on Thursday to prepare a plan to allow the “voluntary departure” of residents from the Gaza Strip, Israeli media reported.
The instruction followed US President Donald Trump’s shock announcement that the United States plans to take over Gaza, resettle the Palestinians living there and transform the territory into the “Riviera of the Middle East.”
Katz added Spain, Ireland and Norway, which last year recognized a Palestinian state, are “legally obligated to allow any Gaza resident to enter their territories.”


Bangladesh protesters torch ousted PM Hasina’s father’s home

Bangladesh protesters torch ousted PM Hasina’s father’s home
Updated 06 February 2025
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Bangladesh protesters torch ousted PM Hasina’s father’s home

Bangladesh protesters torch ousted PM Hasina’s father’s home
  • The house symbolized Bangladesh’s establishment, as Mujibur Rahman declared independence from there
  • Much of Sheikh Hasina Wajid’s family, including her father, was assassinated in the same building in 1975

DHAKA: Thousands of protesters set fire to the home of Bangladesh’s founding leader, as his daughter, ousted former Prime Minister Sheikh Hasina delivered a fiery social media speech calling on her supporters to stand against the interim government.
Witnesses said several thousand protesters, some armed with sticks, hammers, and other tools, gathered around the historic house and independence monument, while others brought a crane and excavator to demolish the building.
The rally was organized alongside a broader call, dubbed “Bulldozer Procession,” to disrupt Hasina’s scheduled 9 p.m. online address on Wednesday.
Protesters, many aligned with the “Students Against Discrimination” group, had expressed their fury over Hasina’s speech, which they viewed as a challenge to the newly formed interim government.
Tensions have been escalating in Bangladesh since August 2024, when mass protests forced Hasina to flee to neighboring India.
The interim government, led by Nobel laureate Muhammad Yunus, has struggled to maintain control as protests and unrest have continued. Demonstrators have attacked symbols of Hasina’s government, including the house of Sheikh Mujibur Rahman, which was first set ablaze in August.
A symbol of the country’s establishment, the house is where Bangabandhu (friend of Bengal), as he is popularly known, declared Bangladesh’s independence from Pakistan in 1971.
A few years later it became the site of a national tragedy. Mujibur Rahman and most of his family were assassinated at the house in 1975. Hasina, who survived the attack, later transformed the building into a museum dedicated to her father’s legacy.
“They can demolish a building, but not the history. History takes its revenge,” Hasina said in her speech on Wednesday.
She urged the people of Bangladesh to stand against the interim government, accusing them of seizing power in an unconstitutional manner.
The student-led movement behind the protests has voiced plans to dismantle the country’s 1972 Constitution, which they argue embodies the legacy of her father’s rule.


What to know about the court cases over President Trump’s birthright citizenship order

What to know about the court cases over President Trump’s birthright citizenship order
Updated 06 February 2025
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What to know about the court cases over President Trump’s birthright citizenship order

What to know about the court cases over President Trump’s birthright citizenship order
  • Trump’s executive order aims to end citizenship for children born to parents not legally in the country

SEATTLE: A federal judge who already questioned the constitutionality of President Donald Trump’s birthright citizenship executive order is set to hear arguments Thursday over a longer-term pause of the directive, which aims to end citizenship for children born to parents not legally in the country.
US District Judge John Coughenour in Seattle has scheduled a hearing involving lawyers from the Trump administration, four states suing to stop the order, and an immigrant rights organization, which is challenging it on behalf of a proposed class of expectant parents.
The latest proceeding comes just a day after a Maryland federal judge issued a nationwide pause in a separate but similar case involving immigrants’ rights groups and pregnant women whose soon-to-born children could be affected.
Here’s a closer look at where things stand on the president’s birthright citizenship order.
Where do things stand on birthright citizenship?
The president’s executive order seeks to end the automatic grant of citizenship to children born on US soil to parents who are in the country illegally or who are here on a temporary, but lawful, basis such as those on student or tourist visas.
For now, though, it’s on hold. Two weeks ago, Coughenour called the order “blatantly unconstitutional” and issued a 14-day temporary restraining order blocking its implementation. On Wednesday, US District Judge Deborah Boardman followed that up with an injunction keeping it on hold long-term, until the merits of the case are resolved, barring a successful appeal by the Trump administration.
Asked by Boardman if the administration would appeal, an attorney for the administration said he didn’t immediately have the authority to make that decision.
What’s happening in the latest case?
On Thursday, the birthright citizenship issue is back before Coughenour, a Ronald Reagan appointee. During a hearing last month, he said the case stood out in his more than four decades as a federal judge. “I can’t remember another case where the question presented was as clear as this one is,” he told a Justice Department attorney.
His temporary order blocking the executive action was set to expire Thursday when he’ll hear arguments over whether he should issue an injunction similar to the one issued by the judge in Maryland.
What about the other cases challenging the president’s order?
In total, 22 states, as well as other organizations, have sued to try to stop the executive action.
The matter before the Seattle judge Thursday involves four states: Arizona, Illinois, Oregon and Washington. It also has been consolidated with a lawsuit brought by the Northwest Immigrant Rights Project. Eighteen states, led by Iowa, have filed a “friend-of-the-court” brief supporting the Trump administration’s position in the case.
Yet another hearing is set for Friday in a Massachusetts court. That case involves a different group of 18 states challenging the order, including New Jersey, which is the lead plaintiff.
What’s at issue here?
At the heart of the lawsuits is the 14th Amendment to the Constitution, ratified in 1868 after the Civil War and the infamous Dred Scott Supreme Court decision, which held Scott, an enslaved man, wasn’t a citizen despite having lived in a state where slavery was outlawed.
The plaintiffs argue the amendment, which holds that “all persons born or naturalized in the United States and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside,” are indisputably citizens.
The Trump administration has asserted that children of noncitizens are not “subject to the jurisdiction” of the United States and therefore not entitled to citizenship.
“The Constitution does not harbor a windfall clause granting American citizenship to ... the children of those who have circumvented (or outright defied) federal immigration laws,” the government argued in reply to the Maryland plaintiffs’ suit.
Attorneys for the states have argued that it certainly does — and that has been recognized since the amendment’s adoption, notably in an 1898 US Supreme Court decision. That decision, United States v. Wong Kim Ark, held that the only children who did not automatically receive US citizenship upon being born on US soil were children of diplomats, who have allegiance to another government; enemies present in the US during hostile occupation; those born on foreign ships; and those born to members of sovereign Native American tribes.
The US is among about 30 countries where birthright citizenship — the principle of jus soli or “right of the soil” — is applied. Most are in the Americas, and Canada and Mexico are among them.


Malaysia says forced displacement of Palestinians would be ethnic cleansing

Malaysia says forced displacement of Palestinians would be ethnic cleansing
Updated 06 February 2025
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Malaysia says forced displacement of Palestinians would be ethnic cleansing

Malaysia says forced displacement of Palestinians would be ethnic cleansing
  • Muslim-majority Malaysia has been a staunch supporter of the Palestinian cause and has long advocated for a two-state solution to the conflict between Israel and the Palestinians

KUALA LUMPUR: Malaysia sees any proposal for the forced displacement of Palestinians as constituting ethnic cleansing and a violation of international law, the foreign ministry said on Thursday after US President Donald Trump proposed a US takeover of Gaza.
“Malaysia strongly opposes any proposal that could lead to the forced displacement or movement of Palestinians from their homeland. Such inhumane actions constitute ethnic cleansing and are clear violations of international law and multiple UN resolutions,” the statement said.
The ministry said it supported a two-state solution as the path to lasting peace and stability.
Muslim-majority Malaysia has been a staunch supporter of the Palestinian cause and has long advocated for a two-state solution to the conflict between Israel and the Palestinians.
Malaysia does not have diplomatic relations with Israel.
Prime Minister Anwar Ibrahim has said he maintains good relations with the political wing of Palestinian militant group Hamas but has no connection with its military wing.
Neighbouring Indonesia, the world’s most populous Muslim-majority country, said late on Wednesday it rejected “any attempt to forcibly displace Palestinians or alter the demographic composition of the Occupied Palestinian Territory.”
Any such action would obstruct a two-state solution being realized, the ministry said, saying Indonesia called on the international community to ensure respect for international law.