Facing US sanctions, the International Criminal Court (ICC) was on Thursday awarded the European Union’s top rights prize, in a show of support that risks upsetting President Donald Trump. “The European Union is built on respect for multilateralism and international institutions, and this prize recognises the important work of the court in upholding international law and justice,” said European Parliament chief Roberta Metsola in announcing the award.The ICC thanked the European Parliament for giving it the Sakharov Prize “at a time when the Court and its officials face unprecedented challenges”.”AgainstRead More

Norway’s sovereign wealth fund, the largest in the world, reported a loss of 278 billion kroner ($29.7 billion) in the third quarter, as rising interest rates hammered its bond holdings. Norges Bank Investment Management (NBIM), which manages the $2,3 trillion fund, said the accounting return for the period was a negative 0.5%. Its fixed-income portfolio, which accounts for 25.8% of overall holdings, delivered a negative return of 3.5%, driven by a global bond market rout as major central banks, including the U.S. Federal Reserve, raised rates amid mounting inflation andRead More