Swedish pension giant shuns Israeli arms maker http://www.middle-east-online.com/english/?id=38133

STOCKHOLM - The biggest Swedish pension fund said Monday it had barred Israeli arms maker Elbit Systems from its investment portfolios on ethical grounds.

Following the lead of Norway's state oil fund, Foersta AP-Fonden said it had banned investment in Elbit because it had built and was operating a surveillance system for an illegal barrier between Israel and the occupied Palestinian territories.

"The Ethical Council recommended that Elbit Systems Ltd should be excluded from each portfolio because it deems that the company can be linked to violations of fundamental conventions and norms," it said in a statement.