Norway approves Africa Israel Investments, Danya Cebus for sovereign wealth fund investment

By IVCPOST Staff Reporter

Aug 21, 2013 09:24 AM EDT

The Finance Ministry of Norway announced that its sovereign wealth fund could now invest Africa Israel Investments and Danya Cebus. The largest sovereign wealth fund in the world, Norway's oil fund is valued at USD 750 billion. The two Israeli firms had been excluded from the fund's investment portfolio since 2010. This was upon the recommendation of the ethics council of Norway which found that the two companies were among those involved in the construction of Israeli settlements in the West Bank.

A recent review, however, showed Africa Israel and Danya Cebus were no longer part of the building of the said settlements. The Finance Ministry also said the firms had no more plans of being involved in the construction of settlements in the West Bank any time in the future.

Africa Israel Investments, based in Yehud, Israel, is a holding and investment firm active primarily in the real estate, construction and infrastructure sectors. Its subsidiary, Danya Cebus, is a construction company.

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