Norway wealth fund puts Bombardier, Adani Ports on its watch list –

A general view of a container terminal is seen at Mundra Port, one of the ports handled by India’s Adani Ports and Special Economic Zone Ltd, in the western Indian state of Gujarat April 1, 2014. REUTERS/Amit Dave

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March 8 (Reuters) – Norway’s sovereign wealth fund has put Canada’s Bombardier , India’s Adani Ports (APSE.NS) and South Korea’s Hyundai Glovis (086280.KS) on its watch list for possible exclusion from investment due to ethical concerns.

Norway’s $1.3 trillion wealth fund, which invests the state’s revenues from oil and gas production for future generations, follows an ethical mandate set by parliament.

Norges Bank, which manages the fund, said in a statement on Monday that Bombardier was placed on the list due to “the unacceptable risk that the company contributes to or is responsible for gross corruption”. The fund has a 1.2% stake in the Canadian company, according to Refinitiv data.

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