Marissa DuBois in Slow Motion Full Fashion Week 2023, Fashion Channel Vlog,

Tuesday, January 19, 2010

iPhone app to catch snooping partners


An iPhone app has been designed to catch partners who read their loved one's ­messages.

The iTrust creates a locked dummy screen to prevent access to text messages, emails or social networking accounts, and stores a record of every button pressed on the display.

Bob Nerberg, 26, of Oslo, who wrote the app, said his girlfriend, from Liverpool, whom he met while studying in the UK, helped him write it. He said the app would make relationships stronger.


"It's something everybody thinks about in a relationship – is my partner reading my texts and emails? Now you can be sure."

Source:guardian.co.uk/

Frozen Norwegian IPO market seen thawing in 2010

OSLO, Jan 19 (Reuters) - Despite a 10-month stock market bull run, Norwegian initial public offering (IPO) activity is seen as low in early 2010, but the Oslo bourse says several firms could weigh in later this year after a two-year drought.


Only a few minor Norwegian IPOs have been made since mid-2008, when the financial crisis put paid to a capital raising boom centred on the energy and oil services sectors.

Oslo's oil-heavy main index plunged 55 percent in 2008, but has been a top performer after growth returned to key economies last year and raw material prices regained momentum.



The main index has more than doubled from a March 2009 low and is back at the level it was before Lehman Brothers collapsed

Source:in.reuters.com/

Goran Bregović to compose Serbian entry


Belgrade, Serbia - Serbian broadcaster RTS has announced that famous musician/composer, Goran Bregović, will compose the country's entry for the 2010 Eurovision Song Contest to be held in Oslo, Norway in May.

At a press conference held in the Serbian capital, Belgrade today, it was announced that Goran Bregović would write the Serbian entry. This will be the first significant change in national final format for Serbia since they first participated in the Eurovision Song Contest as an independent state in 2007.

RTS PR manager, Duška Vučinić Lučić, explained that the new format includes one composer (Bregović) writing three songs for ten artists who are hand-picked by the composer and RTS. These 10 will then compete to represent their country in Oslo in May.

Bregović said that he "does not believe that there is a recipe for how to write a song for this competition because it is different every year". He did however say that he'd most like a young person to perform the song.

Speculation has already been rife, with various names of possible candidates to perform the song(s) floating around.

Further details about when the national final is to be held will be made at a later date. Watch this space!

Who do you think will be in the artist line-up?

Source:eurovision.tv/

313 songs in the race to represent Spain in Oslo


The final list of candidates in the race to represent Spain this year in Oslo has just been released. A total of 313 entries have made it to the preliminary online stage of Tu pais te necesita out of the 480 submitted to TVE. The voting has started as well.
Several known faces have applied this year: Anabel Conde (runner-up at the 1995 Eurovision Song Contest), Edu del Prado, Rebeca, Toñi Salazar (1990 Spanish representative as part of Azúcar Moreno), as well as former Operación Triunfo contestants -José Galisteo, Ainhoa Cantalapiedra, Lorena, Samuel y Patricia...- and participants at Spanish selections for Eurovision -Coral, Bizarre, Isi, Yanira Figueroa...-. Interestingly, the joke entry Yo soy un tsunami, by Karmele Marchante aka Popstar Queen, promoted by the commercial channel Tele5, has been allowed to make it to the public selection.

The online stage of Tu país te necesita will span nearly 3 weeks. The voting will remain open until Friday, February 5th at 23:59 CET. Every user will be able to vote up to 5 times per day and valid e-mail account. Like last year, there will be a section on the RTVE website where the most voted acts will appear. The ranking will be updated several times per day, but not in real time. The votes will be shown once thay are validated.

The 10 acts with the highest scores as of the end of the voting will qualify for the televised national final, where the Spanish entrant for Eurovision 2010 will be chosen by a combination of jury vote and televote at a 50/50 split.

You can see the list of Spanish candidates and vote for your favourites here.

Stay tuned to esctoday.com as we will be bringing you extensive coverage on the Spanish selection for Eurovision 2010.

Source:esctoday.com/

The Other Side Of Oslo Peace Process

“Today, we bear witness to an extraordinary act in one of history's defining dramas,” said the then US president Bill Clinton as a prelude to Oslo Peace Process, “a drama that began in the time of our ancestors when the word went forth from a sliver of land between the river Jordan and the Mediterranean Sea. That hallowed piece of earth, that land of light and revelation is the home to the memories and dreams of Jews, Muslims and Christians throughout the world.

The world looked forward to Oslo with great hope that it would bring peace and stability to the consecrate piece of land that has been drenched in warfare, hatred and conflicting claims of history etched so deeply in the souls of the people in the Middle East. Though Clinton had apprehensions about the Oslo process evident when he mentioned Oslo accords as a ‘brave gamble,’ he did express the confidence that the future can be better than the past must endure. But the post-Oslo Palestine has been a deep scar running deep in to the map of humanity. The tenacity and vision of world leaders behind Oslo and Camp David did promise a new beginning, but for ordinary Palestinians, it was the beginning of a new form of Israeli domination over the Palestinians.

The Oslo Process begins officially with the handshake between Yitzhak Rabin and Yasser Arafat at the White House loan. After the first Intifada that saw more than 1100 Palestinian civilians and 114 Israelis killed, Palestinians entered in to a seven year peace process with Israel–known as the Oslo Peace Process. The main misconception about Oslo Process is the false use of the word Peace. In fact the daily lives of Palestinians throughout the occupied territories turned from bad to worse in a period when there was supposed to be a peace process on the way. All the economic indicators hit the rock bottom under Oslo, during the peace process. Right to education, work and health care, which are among the most basic economic and social rights, were the areas that declined the worst for the majority of Palestinians. Moreover Israeli settlements had continued to expand throughout this period. According to the Foundation for Middle East Peace, the Israeli settlements doubled in size and population during Oslo, from 200,000 to 400,000. At the same time that Israeli control was expanding, the Palestinian Authority was given the trappings of power over the shrinking and non contiguous Palestinian land, being held out as the future Palestinian state. The challenges of governing the Palestinian Authority are extraordinarily complex. This is an authority that has very little authority, virtually no power. Its power is derivative, it has the power that is given to it by Israel and at any moment any of those powers can be taken away.

Yet it is only with deep frustration that anyone could hear the Palestinian Authority including Yasser Arafat and later Mahmoud Abbas speaking very warmly about the situation. But in reality they were hiding the fact that for the great majority of the population these years were a disaster. Those abuses and violations of the public trust were happening regularly for the Palestinians since the Oslo Process began. The Palestinians who protested against the Oslo Process were labeled as terrorists and would not allow them in the PA. There were many Palestinian intellectuals like Mahmoud Darwish who severed ties with the PLO for its flawed stand in Oslo Process.

While the world public was being told by the media that a peace process was moving forward, Israel continued its policy of home demolitions. According to Israeli Committee against Home Demolitions, since 1967 about 24,145 Palestinian homes have been demolished, and more than 740 of those homes were demolished during the Oslo Peace Process. The extend of home demolitions under Oslo Process was so very obvious to the extent that the then US Ambassador to Israel, Edward Walker was quoted saying-“What you got to have, and I think it is a fair demand on the part of Palestinians that during the process of negotiation, you are not supposed to turning out more and more territory to Israeli settlement and changing the character of the land which is supposed to be negotiated about.” The notion of this is going to be a negotiable question does not mean true to any Palestinian who lives up against one of these settlements that are continuingly being expanded. And to expand means to steal more land. These settlers live and prosper at the expense of the Palestinians well being

It is really disheartening to see that the victims of Palestinian catastrophe being led by a herd of wolfs disguised as sheeps who has their vested interests kept in forefront than helping out the Palestinian people’s interest. As in post war Iraq, there has been a new breed of contractors who have their business interests kept high above the suffering of the Palestinian people. They are highly influential businessmen who have deep rooted connections with the Fatah party or the Palestinian Authority and sometimes, even hold high ranking posts in the PA. You need not think a twice to ascertain on where does the billions of dollars of international aids fits in to the scheme of things. There is no wonder why Israel showed a cold shoulder to the poison within Palestine.

Today Palestinian Authority and Fatah Party have been hijacked by a group of high-ranking officials and politicians with business interests that extend beyond the Middle East and across the globe to the United States and Europe. Their main aim is to translate as much of the billions of dollars that come as international aid since Oslo Process to their private accounts. They control Palestinian Authority and Fatah Party in all fronts. Undeterred by this public looting and guaranteed moral impunity by Fatah's bad conscience, and backed by the unshakable buoy up by the United States, and riding on the might of nuclear arsenal and F16 fighter planes, Israel can literally do anything it wants, or is prompted to do by its leaders' fantasies of domination. And the bottom line here is to make life worse for Palestinians, force them to move out of Palestine and thereby steal more land. It might be a hard term to use, but in a sense, it s a sort of ethnic cleansing.

Palestinian Authority and the Fatah Party has now been tainted and denigrated with the honour of being a corrupt national institute whose main task as far as Israel is concerned is to police the Palestinians and prevent them from the struggle against the continuing Israeli military and settler occupation. It has wasted and misappropriated lot of money the international community has given it. The sight of posh villas of leading Palestinian Authority officials sprung up like poison ivy amidst the poor dwelling of refugees throughout the occupied territories and the poverty with which the Palestinian masses are still living in says it all. The performance of PLO in running the Palestinian Authority and its failures in negotiating a credible peace process with Israel has very well diminished support for PLO leadership. And all these factors led to the Palestinians voting out the PLO in favour of Hamas, giving them the required seats to form a majority government in 2006 elections.

If it was an empty handshake at the Whitehouse loan in 1993 and a 'peace talks that lead to more violence' that made Yasser Arafat, Yitzhak Rabin and Shimon Peres qualified for Nobel Peace Prize, the Swedish Academy went a step forward this time and awarded Nobel Peace Prize for a man who has done virtually nothing rather than a customary American public relation exercise, that’s how volatile Middle East situation has become.

It would be worthwhile to recollect the letter that Rachel Corrie, the young American peace activist wrote to her mother back in US days before getting crushed to death by an Israeli bulldozer at Rafah in 2003 “No amount of reading, attending conferences, documentary viewing, and word of mouth, could have prepared me for the reality of the situation here,” she wrote. “You just can’t imagine it unless you see it. This is not all what I asked for when I came into this world. This is not all what the people here asked for when they came into this world. This is not the world you and dad wanted to come into when you decided to have me. This has to stop. I think it is a good idea for us all to drop everything and devote our life for making this stop.”

Ershad Abubacker is a Research Analyst based in Chennai. He can be reached at ershadna@gmail.com.

Source:countercurrents.org/

Norway Excludes 17 Tobacco Companies From Oil Fund

Jan. 19 (Bloomberg) -- Norway excluded 17 tobacco companies, including British American Tobacco Plc and Philip Morris International Inc., from its sovereign wealth fund based on ethical guidelines.

Altria Group Inc., Japan Tobacco Inc., Reynolds American Inc., Swedish Match AB and Imperial Tobacco Group Plc also were excluded and the shares have been sold, the Finance Ministry said today. The 2.6 trillion krone ($456 billion) fund bases its investment on ethical rules encompassing human rights, weapons manufacturing and the environment. The tobacco exclusion was proposed in April as part of an overhaul of the guidelines.

“It’s timely to exclude tobacco,” Finance Minister Sigbjoern Johnsen said in a statement. “It’s important that the ethical guidelines reflect at all times what can be considered to be commonly held values of the owners of the fund.”

The fund held 14 billion kroner in tobacco stocks at the end of last year, including a 4.8 billion kroner stake in British American. The fund owned 3.4 billion kroner in Philip Morris shares, according to the fund’s Council of Ethics.

“They had a holding but they no longer do,” Kate Matrunola, a spokeswoman at BAT, said by phone. “We don’t comment on individual shareholders if they have an investment below 3 percent.”



Investigating Others



“I don’t think it is for me or Imperial to comment on others investment decisions,” said Alex Parsons, a spokesman for Imperial Tobacco. Monica Montero, a spokesman for Philip Morris International in Switzerland, declined to comment, as did David Sylvia, an Altria spokesman in Richmond, Virginia, and David Howard, a spokesman for Winston-Salem, North Carolina- based Reynolds.

Philip Morris advanced 47 cents to $50.09 at 4:15 p.m. in New York Stock Exchange composite trading. Altria shares dipped 4 cents to $20.38.

The council said it will look into whether there are more companies in the fund that produce tobacco. “The council may submit additional recommendations based on its findings.”

“There are a number of funds out there that don’t invest in tobacco for ethical reasons,” said Chas Manso, an analyst at Evolution Securities Ltd. “The real issue is whether that’s a trend, whether an increasing number of investment funds pull out of tobacco investing. I don’t know the data on that.”

Cultivation of tobacco takes place mainly in the U.S., India, Brazil and China as well as in several African countries, the council said. The “extent of health hazardous child labor in tobacco cultivation in some countries can be large.” The Bill and Melinda Gates foundation also doesn’t invest in tobacco companies because they engage in “egregious” activities.



Smoking-Related Diseases



Tobacco use is responsible for almost 20 percent of deaths in the U.S., according to the American Cancer Society. Smoking accounts for 9 out of 10 lung-cancer deaths and about 30 percent of all cancer deaths, the society said on its Web site. It can also cause heart disease, aneurysms, bronchitis, emphysema and strokes, the society said.

Before today, the fund had excluded 29 companies, including Wal-Mart Stores Inc. The ministry is responsible for deciding whether to exclude any of the about 8,500 companies the fund invests in, based on recommendations from the Ethics Council. The finance ministry, which sets the fund’s guidelines, announces exclusions after the holdings have already been sold.

Souza Cruz SA, South Korea’s KT&G Corp., Universal Corp. VA, Vector Group Ltd., Lorillard Inc. and Alliance One International Inc. were also excluded.

Source:businessweek.com/

Norway Awards 38 Offshore Oil, Gas Blocks To 42 Companies

LONDON (Dow Jones)--The Norwegian ministry of petroleum and energy said Tuesday it has awarded 38 new oil and gas production licenses in the North Sea, Norwegian Sea and Barents Sea to 42 companies.

Most of the licenses are in mature areas where oil and gas has already been explored for or produced, the ministry said in a statement. "The main challenge in mature areas is that the expected sizes of discoveries are declining," it said.

"Small discoveries can often not justify a standalone development, but can be profitable with a tie-in. It is therefore important to discover and develop resources in these areas before existing infrastructure in connection to other fields is shut down," it said.

Operators of the new license blocks include Royal Dutch Shell PLC (RDSB.LN), Centrica PLC (CNA.LN), ConocoPhillips (COP), Dana Petroleum PLC (DNX.LN), E.ON AG (EOAN.XE), GDF Suez SA (GSZ.FR), Marathon Corp. (MRO), Nexen Corp. (NXY), OMV AG (OMV.VI), Repsol SA (REP) and Statoil ASA (STO).

Source:online.wsj.com/

Talks under way with Norway to seal EU fishing quotas

CRUCIAL talks began in Brussels yesterday to thrash out the vital quotas for Scottish fishermen in the North Sea this year.

The negotiations between the European Union and Norway to fix the quotas for many of the mainstay catches of Scotland's fishing fleet were plunged into chaos last month following the breakdown of talks in a row over fishing rights.

The NorwegiADVERTISEMENTans refused to agree on the carve-up of quotas within the North Sea in retaliation for the enforced closure of mackerel grounds in Scots waters to Norwegian pelagic trawlers.

The Norwegian government claimed that the ban was a clear breach of the bilateral fisheries agreement between Norway and the EU.

As a result of the breakdown in negotiations, Scottish trawlers have been banned from lucrative fishing grounds within Norwegian-controlled waters, while Norwegian boats are banned from fishing grounds off the Scottish coast.

This week's talks, however, are expected to end in an agreement on new catch limits for economically important species such as cod, whiting and haddock.

Ian Gatt, the president of the Scottish Fishermen's Federation, said: "We are fairly confident that an agreement between the EU and Norway will be reached this week, which will hopefully bring to an end the current period of uncertainty over the final quota levels for 2010.

"It will also enable Scottish boats to gain access to Norwegian waters and vice versa," Mr Gatt said.

Source:news.scotsman.com/

Norway offers 38 licences in mature areas

OSLO, Jan 19 (Reuters) - The Norwegian petroleum and energy ministry has decided to offer 38 offshore exploration licences in the 2009 round for predefined, mature areas on the Norwegian shelf, it said on Tuesday .

The production licences are distributed among the North Sea (25), the Norwegian Sea (10) and the Barents Sea (3). A total of 44 companies applied for production licences in APA 2009, the ministry said.

The ministry said in a separate statement that 43 companies have applied for blocks in the 21st oil and gas licensing round, which will be awarded in the spring of 2011.

(Reporting by Oslo newsroom)

Source:uk.reuters.com/

Abdullah Bin Zayed meets Foreign Minister of Norway

WAM Abu Dhabi, Jan 19th, 2010 (WAM) -- Foreign Minister HH Sheikh Abdullah bin Zayed Al Nahyan met here today Norway's Minister of Foreign Affairs Jonas Gahr Store who is on a visit to the UAE.

Welcoming the guest at a meeting held at the Emirates Palace in Abu Dhabi, Sheikh Abdullah expressed hope that the visit would strengthen relations between the two countries in various fields.

During the meeting, they reviewed bilateral relations between UAE and Norway and the development of cooperation in various avenues, with particular emphasis on the ways to enhance them.

They also exchanged views on the current developments at the regional and international levels as well as a number of issues of common concern.

The Norwegian minister hailed the efforts of UAE for successfully organising the World Future Energy Summit 2010 and alluded to the remarkable development in the field of renewable energy in Abu Dhabi.

WAM/AB

Source:wam.ae/

Round-up: Everton give trial to Norway defender Knut Olav Rindaroy


Everton are giving a trial to Norway left back Knut Olav Rindaroy.
The 24-year-old Molde star is due on Merseyside for a three-day training stint with a view to a move, although Everton boss David Moyes may have the player on loan at first.
Elsewhere Fulham have taken Lincoln’s Scottish centre back Graham Hutchison, 16, on a four-week trial.
Bolton, Birmingham and Fulham are weighing up a move for Monaco striker Frederic Nimani.
The 6ft 4in France Under 21 forward has been told he can leave on a cut-price deal and is in England for talks.
Portsmouth striker John Utaka is wanted by Celtic boss Tony Mowbray, who is ready to launch a cut-price £2.5m move for the Nigerian.
Newcastle want to take Villa’s Marlon Harewood back on loan after missing out on Leeds’ Jermaine Beckford.

Source:dailymail.co.uk/

No China delegate at Worldwide Mr. Gay pageant after police shut down Beijing event

BEIJING — China will not send a delegate to the Worldwide Mr. Gay pageant next month, an organizer said Monday, after police blocked his event to choose a Chinese contestant.

Police shut down the first-ever Mr. Gay China pageant just before the event started Friday, but organizers had planned to privately select a candidate from the eight contestants. They have now reversed their decision, so no one from China will compete at the pageant in Oslo, Norway.

"This was a very carefully considered decision," said Ben Zhang, a pageant organizer. "We just cannot send anyone, the organizers and competitors came to this decision together."

Zhang declined to elaborate on the reasons for not sending a delegate.

Homosexuality remains a sensitive topic in China. Gays are frequently discriminated against and ostracized, and any Chinese national who competes at the Norway pageant would likely be the target of uncomfortable scrutiny, especially after police cancelled Mr. Gay China.

Police cited a lack of permits for cancelling the pageant at a swanky Beijing club. Chinese authorities frequently cite procedural reasons for closing down gatherings deemed politically sensitive.

The pageant would have featured a fashion show and a host in drag.

Source:AFP

Norway FM to Haaretz: We are not anti-Semitic or anti-Israel



There are "forces" in Israel that unfairly portray Norway as anti-Semitic, Norwegian Foreign Minister Jonas Gahr Store charged on Monday. He was responding to various reports critical of Norway in the local press.

"There are references to anti-Israel sentiments in the Israeli press, and I see part of that as a campaign, which is being organized and orchestrated from circles who point out enemies of Israel [in Norway]," Store told Haaretz during a visit to Jerusalem on Monday. He refused to speculate who he thinks is behind the campaign.

Last summer, Israeli papers reported that a Norwegian diplomat who had compared Operation Cast Lead in Gaza with the Holocaust had been promoted, and that Norway had honored novelist and Hitler admirer Knut Hamsun with celebrations and a commemorative coin for his 150th birthday. Several Israeli papers also quoted Foreign Minister Avigdor Lieberman scolding Norway for not walking out during last April's Durban II conference - which was widely criticized as biased against Israel - the way most other Western nations did.
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Ahead of Store's visit this week, a Jerusalem Post columnist described the current Norwegian government as "rabidly hostile" toward Israel. And Haaretz quoted a Norwegian opposition leader saying Israeli concerns about Norway are "understandable."

But Store, who himself recently made headlines for endorsing a book that accused Israel of premeditated mass murder during Cast Lead, said these incidents are not representative.

"When I read these allegations in the Israeli press - and some of them I find almost a smear against Norway - my response is: Go and check with the leaders of [the] Norwegian Jewish community," he said. "You will get a [different] story. Yes, there is this gruesome phenomenon of anti-Semitism, also in our society. But I don't buy it at all that Norway is one of the worst cases."

While it is true that a major Norwegian pension fund divested from Elbit Systems because of the company's involvement in building the West Bank separation fence, this did not imply an anti-Israel bias, Store said. The fund divests whenever a company "breaches ethical standards," he explained, adding that it had also divested from certain French, American and Russian firms.

Furthermore, the fund is currently invested in 40 different Israeli companies that are not involved in building the fence, he noted. "That's the big picture."

Store also commented on the November 2009 appointment of deputy minister of the environment Ingrid Fiskaa, who in April 2008 said she sometimes wished the United Nations would send "precision-guided missiles against selected Israeli targets."

"I will be the first to say that these are senseless statements," Store said. "And she's not responsible [for] our Middle East policy at all. But there are things in every person's past in terms of political views and statements."

Rejecting criticism over his contribution to the back cover of the controversial book, Store said he merely applauded the authors for speaking up about what they saw, without judging the validity of their conclusions. In the book, which contains eyewitness testimony by two Norwegian physicians in Gaza during Cast Lead, the physicians, Mads Gilbert and Erik Fosse, accused Israel of perpetrating a "systematically implemented and comprehensive massacre."

"What I said was that during the Gaza war, all independent press was closed out and that when there is no coverage, the first victim is the truth," Store said. "I believe that these doctors ... reported what they saw. I believe that was important."

Writing a blurb for the back cover does not mean he endorses the book's content, Store insisted.

Source:haaretz.com/

Norway asked to supply ships to Haiti relief


The US authorities have asked Norway to consider providing ships in the joint international effort to provide relief to quake victims in Haiti. The Norwegian Shipowners Association has been contacted.
- In the international discussion around what the different countries could contribute towards the relief effort in Haiti, we have been asked to look into the possibility for providing ships, says Minister for International Development, Erik Solheim.

Solheim has asked the Norwegian Shipowners Association (Rederiforbundet) to consider the request, and says they are positive to the idea, and has asked their members to respond.

The ships could be used to freight heavy construction equipment, or as living quarters for relief personnel.

Solheim says there is historic tradition for Norwegian shipping to participate in in crises situations, and that Norwegian ships have been used in similar situations before.

(NRK/Aftenposten)

Source:norwaypost.no/

Calls for Norway to go more passive

The Norwegian Government Pension Fund suffered its worst year in 2008, losing NKr633bn (£69bn, $111bn, €77bn) or close to a quarter of its value. Critics likened it to gambling.

About NKr80bn of the losses were directly related to active management, which has prompted calls for a more passive investment strategy. In April, Norway’s finance ministry started a broad review on whether to continue active management of the NKr2,500bn fund, the world’s second largest sovereign wealth fund.

A new academic report – commissioned by the government in connection with the review – says the fund has been taking “appropriate” risks. But it recommended one notable change: incorporating systematic risk factors, such as volatility and liquidity, into the fund’s benchmark.

“Seventy per cent of Norway’s active management is explained by these additional risk premiums,” says Andrew Ang, a professor at Columbia Business School in New York and one of the report’s three co-authors. “It should be better understood and brought into the benchmark explicitly.”

This will be the backdrop for when about 150 invited experts gather in Oslo on Wednesday to give their views on how the fund should proceed.

The report, completed last month by experts at Columbia, Yale School of Management, and the London Business School, said “the fund is actually not an actively managed portfolio”. This is based on the observation that active returns – the difference between the fund’s actual returns and its benchmark – only constituted a small fraction of both the mean and the volatility of the total return.

“Overall . . . the returns on the fund are similar to those that could have been earned on a fund holding the benchmarks with additional, essentially passive exposure to these (systemic) factors,” the report said.

“The incremental contribution of active management has been slightly positive overall, with notable negative returns during 2008 and the early part of 2009.”

The report also found the fund’s pattern of risk exposures is appropriate for a long-term investor, and said active management could enhance the fund’s other aims, such as socially responsible investing.

Still, it recommends the fund change its benchmark, currently defined by geography and asset class, to include other factors such as volatility, liquidity, and credit risk. A factor benchmark approach would make it easier to monitor new asset classes, such as real estate, which was added to the fund in 2008.

The report could lead to changes via a White Paper in April whereby the additional risk premium is incorporated into the benchmark. That would mean lower performance fees for external managers, because it would raise the performance bar. It would also shift the responsibility from Norges Bank Investment Management, the manager of the fund, to the finance ministry, as asset owner, on how much systematic risk the fund takes.

This would all be ground-breaking, according to Mr Ang. None of the other large pension funds or SWFs incorporate systematic risk factors into their benchmark.

“This report is almost revolutionary,” says Lars Søraas, a Norwegian venture capital analyst and economist promoting passive management. “But you’ll have a problem explaining to the Norwegian people you’re going to have a volatility risk.”

NBIM has declined to comment on a possible “factor benchmark” ahead of this week’s seminar. Not surprisingly, it remains an advocate of active management. In a letter to the finance ministry last month, NBIM defended the strategy on the basis that investment opportunities vary over time and the benchmark portfolio would therefore never represent the “correct” portfolio at any time.

“A passive, uninformed approach to operational decisions is an alternative without a sound theoretical or practical justification,” said Svein Gjedrem, Norway’s central bank governor, and Yngve Slyngstad, NBIM chief executive, in a joint letter. Costs would be lower but they would not be able to achieve the benchmark return, they said.

Progress, Norway’s largest opposition party, is one of the fund’s critics on this subject. It lambasted the fund’s active management strategy following the heavy losses in 2008.

“Several experts have concluded that in the long run, you will not be able to beat the market,” said Christian Tybring-Gjedde, a Progress party finance committee member.
Copyright The Financial Times Limited 2010. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.

Source:ft.com/

Svendsen of Norway wins 2nd straight biathlon World Cup race, Burke loses ground

RUHPOLDING, Germany — Emil Hegle Svendsen of Norway won his second straight biathlon World Cup race by shooting cleanly in the 15-kilometre sprint.

Svendsen covered the distance in 39 minutes 19.5 seconds to leave World Cup leader Evgeny Ustyugov of Russia trailing by 5.1 seconds on Saturday. The Russian had one miss in four rounds through the shooting range.

Simon Eder of Austria was third, 9.9 seconds back, while Jean-Philippe Le Guellec of Shannon, Que., was 22nd in 40:50.9.

Ustyugov leads the overall standings with 412 points. Svendsen has moved up to second with 384.

In the women's 12.5-kilometre mass start, World Cup leader Helena Jonsson of Sweden was the only one to shoot cleanly among the top finishers and beat four Germans.

Jonsson needed 40:58.7 to cover the distance and left Simone Hauswald 23.1 seconds behind. Magdalena Neuner was third, 35 seconds behind after five missed targets.

Zina Kocher of Red Deer, Alta., was 17th in 43:29.8.

Source:AFP

ASTON VILLA v Blackburn: John Carew doubtful for Carling Cup clash


Aston Villa striker John Carew is a doubtful starter for the Carling Cup semi-final second leg meeting with Blackburn at Villa Park on Wednesday.

The Norway international suffered a knee injury during training on Monday and is battling to be fit to face Sam Allardyce's side.

Midfielder Nigel Reo-Coker is still sidelined with the ankle problem which caused him to miss Sunday's goalless home draw with West Ham in the Barclays Premier League.

Manager Martin O'Neill is again likely to operate with number two goalkeeper Brad Guzan which has been his policy in the majority of cup fixtures this season.

Provisional squad: Friedel, Guzan, Cuellar, L Young, Beye, Dunne, Collins, Warnock, Milner, Downing, Petrov, A Young, Sidwell, Delph, Agbonlahor, Carew, Heskey, Delfouneso, Clark, Albrighton.

Source:dailymail.co.uk/

Norway should be Iceland’s aid

Professor Oystein Noreng of the Norwegian School of Management argued in his column for Dagsavisen this weekend that Norway should support Iceland financially, and potentially even enter into monetary union with Iceland and jointly co-manage fish stocks.

In his column, Professor Noreng begins by stating his opinion that Iceland is not responsible for paying for the failure of Icesave in the UK and Netherlands due to the fact that it never offered a state guarantee. He added that when Lehman Brothers went under, US funds were insured but not those held by foreigners, including Norwegian local governments – but the American government was not pressured to pay the money back.

The Icesave affair has become so overblown, he believes, because Gordon Brown wanted a crisis to make him look strong before this May’s elections.

Whether right or wrong with the above controversial claims, Professor Noreng then goes on to say he believes there are three main ways for Iceland to recover from its current dire financial situation.

The first is through the IMF route with possible EU membership as well. The second is with help and co-operation from Norway. And the third is with help and co-operation from Russia.

“The IMF has for decades been responsible for a tight market-liberal line, inspired by the United States, and has been a scourge for many developing countries,” he argues.

Russia has the money to help Iceland and would in turn strengthen its position in the North Atlantic as well as becoming a close trading partner. This could be good for both Russia and Iceland, but should be avoided from a Norwegian point-of-view.

Norway is one of the world’s leading creditors and also has the money to help Iceland back to its feet. Iceland would have to clean up its entire financial sector in exchange, including possible prosecutions.

In the long run, Professor Noreng would like to see Iceland adopt the Norwegian krone as a means of stabilising its economy and increasing the size of Norway’s ‘domestic’ market. Deeper union between the countries could become a sort of mini-EU potentially including Greenland and the Faroe Islands as well, which would benefit all when dealing with the EU, Russia, the USA and other international players.

Source:icenews.is/

Nationwide 4G/LTE rollout for Teliasonera in Norway and Sweden

During 2010, TeliaSonera expects to offer its customers 4G coverage in the 25 largest municipalities in Sweden alongside the four largest municipalities in Norway, including Oslo. Ericsson (NASDAQ: ERIC | Quote | Chart | News | PowerRating) has been selected as the sole supplier of the common core network as well as providing LTE radio access.

The Nordic region has had a tradition of being at the forefront of telecommunications development. With TeliaSonera's 4G/LTE, this region is again in the lead. TeliaSonera now offers the consumers a next generation broadband network with wireless access to interactive and capacity-demanding services such as real-time web, online gaming, social media collaboration and video conferencing.

Lars Klasson, Senior Vice President and Chief Technology Officer, Business Area Mobility Services at TeliaSonera, says: "We have chosen Ericsson to deliver TeliaSonera's 4G core network and further radio network rollout in Sweden and Norway based on their high quality technology and competitive offer. Our customers are the first in the world to use commercial 4G services. The use of mobile broadband in the Nordic is exploding and we offer 4G to meet the demand for high speed and capacity" Mikael Backstrom, President Ericsson Nordic and Baltics, says: "As we move into next generation mobile networks with increased data traffic, securing network quality will be vital. We have delivered our latest solutions and gained TeliaSonera's confidence in our ability to provide leading technology and services. We will work just as hard to secure a smooth rollout and support TeliaSonera in introducing new consumer services." Supplied by Ericsson, TeliaSonera recently launched the world's first and largest LTE service in Stockholm. Ericsson has signed commercial LTE contracts with four major operators to date, including Verizon Wireless and MetroPCS in the US, NTT DoCoMo in Japan and TeliaSonera in Sweden.

LTE, the next generation of mobile communication technology, enables the fast transfer of huge amounts of data in an efficient and cost-effective way, optimizing the use of the frequency spectrum. With increased speed and decreased latency, consumers can enjoy whatever service is available online (real-time web, online gaming, social media collaboration and video conferencing) effortlessly and while on the move. LTE will meet the demands of new and enhanced internet applications of the future.

Ericsson continues to pioneer wireless technology and is leading the development of LTE. Together with NTT DoCoMo, Ericsson initiated LTE standardization at the international standardization body 3GPP in 2004, and has made the largest amount of approved contributions to the group. Ericsson also expects to hold 25 percent of all essential patents for LTE, making it the largest patent holder in the industry.(C) 2010 Al Bawaba (www.albawaba.com)

For full details on (ERICY) ERICY. (ERICY) has Short Term PowerRatings at TradingMarkets. Details on (ERICY) Short Term PowerRatings is available at This Link.

For full details on LM Ericsson Telephone Company (ERIC) ERIC. LM Ericsson Telephone Company (ERIC) has Short Term PowerRatings at TradingMarkets. Details on LM Ericsson Telephone Company (ERIC) Short Term PowerRatings is available at This Link.

Source:tradingmarkets.com/

Concern over situation in East Jerusalem


Foreign Minister Jonas Gahr Støre, who is on a visit to the Middle East says Norway is concerned about developments in East Jerusalem. The Palestinian population is subject to ever-increasing pressure, he says. - The status of Jerusalem must be resolved to ensure lasting peace between Israelis and Palestinians, and this can only be achieved through negotiations, said Mr Støre.
Monday the Foreign Minister had talks with Palestinian leaders and with Lutheran Bishop Monib Younan about the situation of the Palestinian population of Jerusalem.

- Evictions, demolitions, the separation barrier and the ongoing establishment of new settlements are changing the demographics and geography of East Jerusalem, and thus also the basis for a negotiated solution, the Norwegian Foreign Minister said. -I am concerned that these changes, which have accelerated in recent months, will make it more difficult to get new, genuine negotiations off the ground.

Norway considers the Israeli presence in East Jerusalem to be in violation of international law, as does the entire international community.

“We do not recognise Israel’s annexation of Palestinian East Jerusalem,” said Mr Støre.

The Foreign Minister also visited the Augusta Victoria Hospital, which receives Norwegian support. It provides specialist medical services to the Palestinian population, but due to the Israeli closure regime, the Palestinian people in the West Bank and Gaza no longer have free access to the hospital.

- Jerusalem is a holy city for billions of people who adhere to the three monotheistic world religions. Respect for each other’s faith and holy sites is a prerequisite for peaceful co-existence. Jews, Muslims and others must all have the right to live here, said the Norwegian Foreign Minister.

(NRK/Press release)

Source:norwaypost.no/

Nordic Combined: A second win for Moan

Norway's Magnus Moan won the second Nordic Combined event in as many days at Chaux-Neuve, France on Sunday, in a sprint finish against World Cup leader Jason Lamy-Chappuis of France.
Austria's Mario Stecher finished third. Lamy-Chappuis remains at the top of the World Cup rankings, with Austria's Felix Gottwald second, while Moan's two victories have propelled him into third place overall.

Cross Country: Hattestad second
Biathlon: Relay Silver for Norway
Dakar Rally: Ullevaalseter in second
Biathlon: Another gold for Svendsen
Cross Country: Bjørgen is back
Nordic Combined: Season's first for Moan
Nordic Combined: Season's first for Moan
Biathlon: Relay 3rd for Norway
Biathlon: Double for Norway
Alpine skiing: Norwegians made history
Ski Jumping: New Holmenkollen Hill ready on time
Rally Dakar: Ullevålseter in second
Biathlon: New top placing for Bjørndalen
Tour de Ski: Northug second
Tour de Ski: Northug second
Nordic Combined: Moan 2nd at Val di Fiemme
Nordic Combined: Moan 2nd at Val di Fiemme
Nordic Combined: Moan 2nd aat Val di Fiemme
Biathlon: Flatland third at Oberhof
Norway wins Biathlon relay

Source:norwaypost.no/

U.S., Norway deny funding allegations

Less than two weeks ahead of the much awaited January 26 Sri Lanka Presidential election, the United States (U.S.) and Norway — the latter acted as the official facilitator of talks between the Government and the Liberation Tigers of Tamil Eelam till the early 2009 — have become the centre of a controversy.

On Saturday the missions representing Washington and Oslo here issued two separate statements vehemently denying charges that they were funding the bid of the opposition consensus candidate retired General Sarath Fonseka to oust the incumbent President Mahinda Rajapaksa who is seeking a second term two years ahead of his term.

The reference was to charges levelled by Mohamed Muzammil, a legislator of the ruling combine United People’s Freedom Alliance (UPFA) that opposition attempted to bribe him with Sri Lanka 30 million rupees ($2,65,000) to back the retired General and the money was supplied by the U.S. and Norwegian embassies.

The charges against the two countries have not come as a surprise to Sri Lanka watchers as both them were perceived to be at loggerheads with the Mahinda Rajapaksa Government on some of the contentious issues like the conduct of the Eelam War IV and the subsequent policies on re-settlement of nearly 3 lakh war displaced and the approach towards a political solution to the ethnic conflict.

Washington had tried unsuccessfully several times to pressure Colombo to halt the military operations against the LTTE on the ground that it could involve fate of large number of civilians caught in the cross-fire between the security forces and the Tigers. Norway was the official facilitator of talks between the Government and the LTTE and brokered the 2002 Cease Fire Agreement (CFA). Rajapaksa Government de-recognised Norway as the facilitator early 2009 after the Sri Lankan Embassy in Oslo was attacked by suspected LTTE members.

The admission that the policy makers in Washington have been over-zealous in their dealings with their interlocutors in Colombo came in a candid bi-partisan Senate Foreign Relations Committee headed by John Kerry in the second week of December. The crux of the 14-page report is that those dealing with Sri Lanka have tended to be confrontational and thus missed the wood for the trees.

Calling for a policy shift to safeguard and further the strategic American in the regional the paper argues that it was time for Washington to keep a fine balance over track record of Colombo on human rights record and humanitarian issues triggered by the 34-month war.

It goes on to say that while the Sri Lankan government has been widely criticised for its handling of the war against the Tamil Tigers fighting for a separate State for the ethnic Tamil minority in northern Sri Lanka, the government has also achieved a measure of progress in resettling the conflict’s displaced and rebuilding the war-shattered east of the country. “With the end of the war, the United States needs to re-evaluate its relationship with Sri Lanka to reflect new political and economic realities. While humanitarian concerns remain important, U.S. policy toward Sri Lanka cannot be dominated by a single agenda. It is not effective at delivering real reform, and it shortchanges U.S. geostrategic interests in the region.”

“But Sri Lanka is too important a country to be isolated from the West. Sri Lanka is located at the nexus of crucial maritime trading routes in the Indian Ocean connecting Europe and the Middle East to China and the rest of Asia. The United States, India, and China all share an interest in deterring terrorist activity and curbing piracy that could disrupt maritime trade,” the report had said.

The supposed policy shift of Washington was watched with interest as political and diplomatic observers here were intrigued over the obsessive pursuit of Sri Lanka-related issues by Washington at a juncture when Mr. Obama is grappling with crucial issues such as Afghanistan, Pakistan, Iraq, North Korea and Iran.

Two significant events marked 2009 in the U.S. vis-à-vis Sri Lanka. On October 21, the State Department gave the Congressional Appropriations Committee a document titled ‘Report to Congress on Incidents During the Recent Conflict in Sri Lanka’. The 68-page State Department report lists 170 alleged incidents and acknowledges that it does not provide, nor is it intended to be, a comprehensive portrayal of the conflict.

On October 28, on the basis of the State Department report, the U.S. authorities summoned Sri Lanka’s then Chief of Defence Staff Sarath Fonseka and now, the main opposition Presidential candidate against President Mahinda Rajapaksa, for questioning on November 4. General Fonseka, who led the war against the LTTE as the Army chief, is a U.S. Green Card holder and was on a private visit, using his diplomatic passport, to see his daughters in the State of Oklahoma.

The general was told by the Attorney that his statement during the scheduled November 8 interview could be used as possible evidence against Defence Secretary Gotabaya Rajapaksa over charges of excesses by the security forces and the LTTE during the 34-month war. Washington dropped the idea after Colombo took serious exception and let the General return to the island without being questioned. In what was seen as an exercise to minimise any adverse impact of the State Department report on Eelam War IV, President Rajapaksa on November 6 appointed a five-member “independent committee” to study the issue comprehensively and formulate by December 31 recommendations for his consideration on the charges of human rights violations as recounted in the report to the U.S. Congress on October 22. The group was constituted a day after the U.S. House of Representatives, in an uncommon move, approved a non-binding resolution urging Colombo to guarantee the safety and quick release of nearly 3,00,000 Tamils and other war-displaced people.

It is against this backdrop that the pro-active role of U.S. mission in Colombo in the last few weeks is being watched interest by observers. The mission in its latest statement said, “We will work with whoever wins the election to strengthen our longstanding partnership and we will maintain our support for a peaceful, prosperous and democratic Sri Lanka,” it said.

The pro-active attitude of the U.S. mission on the crucial Presidential election, mainly a contest between Mr. Rajapaksa and the former Army Chief, was evident on January 12 when the mission chose to issue a press statement expressing concerns over ‘escalating violence’ in the run up to the election after the first death since the campaign was launched nearly two months ago was reported.

The mission statement read, “The United States is deeply concerned by the escalating violence surrounding the upcoming presidential elections, particularly reports of today’s fatal shooting. We urge the appropriate authorities to conduct a full investigation of this and other acts of violence and to protect those exercising their democratic right to support the candidate of their choice. “This is the first nation-wide election in a peaceful, united Sri Lanka in several decades. We hope that the election is conducted freely, fairly and without violence.”

Keywords: Mahinda Rajapaksa, Sarath Fonseka, campaign, Cease Fire Agreement, LTTE, Eelam War IV, United People’s Freedom Alliance, UPFA

Source:beta.thehindu.com/