Norway oil fund drops 2 Israeli companies

OSLO: Norway's Finance Ministry says the country's oil fund has divested from two Israeli companies involved in building settlements in the West Bank.

The ministry said on Monday that the 2.8 trillion kroner ($440 billion) sovereign wealth fund has excluded from its portfolio construction company Danya Cebus Ltd. and its majority owner, Africa Israel Investments Ltd. Danya Cebus has built Israeli homes in the West Bank.

The ethical council that monitors the fund's investments warned that the fund risked ``contributing to serious violations of individual rights in situations of war and conflict'' by investing in the Israeli companies.

The fund also excluded Malaysian forestry company Samling Global Ltd. for contributing to illegal logging.