Oil Fund

Norway receives almost a quarter of its economic output from oil and gasoline. It channels the income into an $830 billion sovereign wealth fund to avoid overheating the domestic financial system. Norway says it desires to aid its oil enterprise after crude manufacturing slid for 13 consecutive years amid dwindling North Sea deposits.

Allianz, Europe’s largest insurer, this month wrote a letter to high Minister Erna Solberg inquiring for a assembly after the tariff cuts brought about “substantial losses and write-downs” on its 6.1 billion kroner ($1 billion) investment.

The insurer stated the cuts have broken accept as true with in Norway, doubtlessly harmed funding in infrastructure in trendy and harm German and Norwegian residents.

“as the leader of a new government, you've got the possibility to take a clean study the adjustment of price lists and in all likelihood opposite an incomprehensible discrimination of dedicated long-term traders,” Allianz chief executive Officer Michael Diekmann and govt board member Maximilian Zimmerer stated inside the letter dated Feb. 7. The correspondence become received by using Bloomberg through a freedom of data request.