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Norway wealth fund CEO Nicolai Tangen presents the results for 2022, at a news conference in Oslo, Norway January 31, 2023. NTB/Heiko Junge via REUTERS/File Photo Acquire Licensing RightsNEW YORK, Nov 8 (Reuters) - Norway's $1.4 trillion sovereign wealth fund is using artificial intelligence to help manage its investments, its CEO Nicolai Tangen said in an interview at the Reuters NEXT conference in New York. The fund invests the Norwegian state's revenues from oil and gas production in equities, bonds, property and renewable projects abroad. It is the world's largest sovereign wealth fund, holding stakes in more than 9,200 companies globally and owning 1.5% of all listed stocks. "We are using it (AI) now in how we deploy the capital," Tangen said.
Persons: Nicolai Tangen, NTB, Heiko Junge, Tangen, Sam Altman, Altman, Lananh Nguyen, Chizu Organizations: REUTERS, Reuters NEXT, Companies, Reuters, reuters, Thomson Locations: Norway, Oslo, New York
Europe's protracted battle with extreme weather conditions comes shortly after official data showed July was the hottest month in history. To be sure, the climate emergency — which is primarily driven by the burning of fossil fuels — is making extreme weather and its impacts more frequent and more intense. People stand at an overflooded petrol station in Gjovik on August 11, 2023 after extreme weather with heavy rain hit south-east Norway. This gives us the long-term context for the increasing occurrence and severity of such extreme weather and extreme events." On the same day, France issued an extreme heat warning for four regional departments in the southern regions of Rhone, Drome, Ardeche and Haute-Loire.
Persons: Angelos Tzortzinis, Alvaro Silva, Heiko Junge, Silva, Christophe Archambault, Nero, sweltering, Fabrice Coffrini Organizations: Sikorsky, Afp, Getty, EDF, Turkish, Meteorological Organization, Firefighters, Reuters Locations: Acharnes, Athens, Europe, Greece, French, Italy, Norway, Gjovik, Alexandroupolis, France, Rhone, Drome, Ardeche, Haute, Loire, Bordeaux, Sardinia, Dardanelles, Switzerland
The movies, which feature ambushes, looting and a drunken captain, are far from real life, according to shipping veteran Ralph Juhl. The crew on board an oil tanker operated by Hafnia. Where the ship goes depends on where the demand for oil is and Dixon has sailed to every continent bar Antarctica, he said. An aurora borealis light display in the southern part of Norway, one of the natural spectacles seen by oil tanker captain DSA Dixon during his seafaring life. Oil tanker crew prepare mooring ropes to secure a bunker barge to their vessel for refueling.
Norway wealth fund posts record $164 bln loss
  + stars: | 2023-01-31 | by ( Victoria Klesty | ) www.reuters.com   time to read: +2 min
[1/3] Norway wealth fund CEO Nicolai Tangen presents the results for 2022, at a news conference in Oslo, Norway January 31, 2023. The previous largest loss was 633 billion crowns in 2008. The loss ends a record-breaking streak for the fund, where annual returns exceeded one trillion crowns in each of the three years from 2019 to 2021, amounting to more than four trillion crowns combined. Reuters GraphicsStill, despite the record loss, the value of the fund rose overall, by 89 billion crowns or $8.9 billion year-on-year, partly due to the weak Norwegian currency and partly due to record 1.1 trillion crowns of cash inflows into the fund. The inflows in 2022 were nearly three times the previous record, of 386 billion crowns, set in 2008.
Norway wealth fund posts record $164 billion loss
  + stars: | 2023-01-31 | by ( Victoria Klesty | ) www.reuters.com   time to read: +3 min
[1/3] Norway wealth fund CEO Nicolai Tangen presents the results for 2022, at a news conference in Oslo, Norway January 31, 2023. The previous largest loss was 633 billion crowns in 2008. It ends a record-breaking streak for the fund, where annual returns exceeded one trillion crowns in each of the three years from 2019 to 2021, amounting to more than four trillion crowns combined. Still, despite the record loss, the value of the fund rose overall by 89 billion crowns or $8.9 billion year-on-year, partly due to the weak Norwegian currency and a record 1.1 trillion crowns of cash inflows. The inflows in 2022 were nearly three times the previous record, of 386 billion crowns, set in 2008.
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