Friday, July 11, 2014





Norway oil wealth fund sees 2.2 pct decline in Q2


February 16. 2013 2:53PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Norway's vast oil fund saw a decline of 2.2 percent in the second quarter, losing 77 billion kroner ($13 billion) in the period, mainly because of investors' concerns over the global economy.


Fund senior manager Yngve Slyngstad says the development means the government's goal of an annual 4 percent return on the fund is unlikely to be achieved in the near future.


Slyngstad said Friday that the target could be reached if there was a positive development in the world economy during 10 to 20 years, but that short-term propspects were "difficult."


Norway uses the fund to invest income from its offshore oil and gas sector.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds