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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...
Premier: India set to mass produce COVID-19 vaccine, launches digital health mission
India is ready to mass produce COVID-19 vaccines when scientists give the go-ahead, Prime Minister Narendra Modi said in his Independence Day speech on Saturday. Modi made the revelation while also launching a national project to roll out health identities for each citizen. In annual celebrations, held at the 17th-century Red Fort and scaled down due to the pandemic, Modi identified health and economic self-reliance as the key priorities for his government. “Not one, not two, as many as three coronavirus vaccines are being tested in India,’’ he said from the ramparts of the red sandstone palace in the old quarters of Delhi. He was wearing a flowing orange and white turban and covering his mouth and nose with a scarf of the same colours whenever anyone came close to him at the ceremony. “Al...
