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Stock market volatility hits Norway’s sovereign wealth fund

Norway’s Central Bank on Tuesday said its pension fund lost 188 billion kroner ( 21 billion dollars equivalent) in the first half of 2020 amid stock market volatility during the coronavirus pandemic. The bank said the return on the sovereign wealth fund fell by 3.4 per cent during the January-to-June period. The Deputy Chief Executive of Norges Bank Investment Management, Trond Grande, said there were major fluctuations in the equity market. “The year started with optimism, but the outlook of the equity market quickly turned when the coronavirus started to spread globally. “The sharp decline in global stock markets during the first quarter is, however, limited by a massive monetary and financial policy response. “Even though markets recovered well in the second quarter, we are still witnes...

UEFA releases possible dates for Champions League games

UEFA’s plan to complete the Champions League and Europa League continues. The plan says that they will be played throughout the month of August once the leagues are done in July. UEFA have an idea which is to end the season by the end of August. Therefore, the domestic leagues need to be completed by the end of July. The proposal is for the remaining last 16 games to be played in the first week of the month. On 26th and 29th August, Gdansk and Istanbul will host the Europa League and Champions League finals respectively. ‘Marca’ says that they will try and stick to that instead of playing both the finals at the same venue. There are 17 Champions League and 27 Europa League matches left to play. Confirmation of the new calendar depends first on leagues getting back underway and then on the ...