China’s leaders want to lift the gray blanket of deadly smog that often chokes Beijing’s residents by shifting power plants to the less populated western part of the country inhabited by minorities. That’s turning into a nightmare for Ani Yetahon who lives in Oriliq, a village about 1,800 miles from the capital where some residents still walk to the well for their water.
Norway’s sovereign wealth fund, the world’s largest, gained 692 billion kroner ($115 billion) last year as stocks rallied, forcing it to pare its equity holdings for the first time ever to comply with risk mandates.
Shipbuilders in Australia are trying to lock in defense contracts with Prime Minister Tony Abbott’s government as the nation’s biggest manufacturing union warned the industry may lose 3,000 jobs unless projects are secured.
Oeystein Olsen, the governor of Norway’s central bank, said he’s planning to petition the government to allow the nation’s $830 billion wealth fund to cut bond holdings further to help it generate bigger returns.
Norway needs to ease control over its $810 billion sovereign wealth fund to allow it to pursue greater returns, according to the head of the Liberal Party, which supports the minority government in parliament.
Norway Finance Minister Siv Jensen said the nation’s $820 billion wealth fund should pursue the highest returns amid opposition demands that the investor place more focus on ethics and the environment.