Tag: divestment

  • Danish student protest in support of Gaza successful, Copenhagen university agrees to divestment

    Danish student protest in support of Gaza successful, Copenhagen university agrees to divestment

    Copenhagen University has decided to stop investing in companies operating in Israeli settlements, Reuters has reported.

    Amid student protests pressuring the campus to cut financial and institutional ties with Israel, the University of Copenhagen says that it will stop investing in companies doing business in the occupied West Bank.

    The university has announced that it will, as of May 29, divest its holdings worth a total of about 1 million Danish crowns ($145,810) in Airbnb, Booking.com, and eDreams.

    The university also said that it would work with fund managers to manage its investments and ensure they comply with a United Nations list of companies involved in illegal Israeli settlements in the West Bank.

    The University of Copenhagen has a yearly revenue of over 10 billion crowns, some of which is invested in bonds and equities.

  • Here’s why Selena Gomez said sorry to Palestine supporter

    Here’s why Selena Gomez said sorry to Palestine supporter

    Selena Gomez got into trouble after posting an innocuous picture on Instagram.In the picture, there was a Starbucks coffee cup in the background. People got really mad at her because she not only bought coffee from Starbucks but also showed it off on her platform. This upset people because there’s a global boycott against brands connected to or supporting Israel, and Starbucks is one of them.

    But some fans got upset, as Starbucks had been boycotted by supporters of the Palestinian cause and labour unions alike. One person criticized her for not knowing about the campaign against Israel called Boycott, Divestment, and Sanctions (BDS).

    People who support the BDS campaign are asking others to stop supporting Starbucks as Israel continues genocide in Gaza. One fan commented, “She really deserves all the hate she can’t be that stupid,” saying that Selena Gomez can’t really be unaware that Starbucks is connected to Israel’s controversial apartheid of Palestinians.

    In reply, the singer directly addressed the criticism. She admitted she didn’t know about the issue and said sorry if she upset anyone. She responded to the comment, saying, “I did not know. So apparently I am that stupid. I’m sorry.”
    The criticism shows how much the BDS movement is growing. They want companies and people stop supporting Israel because of the conflict with Palestine.

    After Israel started a military operation on October 7, which led to the deaths of many Palestinians, people criticized Gomez for not showing support. When she said that one post wouldn’t make a difference, she faced a lot of criticism. Then, her makeup brand’s Instagram page posted about the crisis in Gaza and said they wanted to help. They also shared the donations they made to organizations like the International Red Cross/Red Crescent Societies – Magen David Adom and Palestinian Red Crescent Society.
    However, one X user pointed out how Gomez was still “both siding” the situation, especially given that Magen David Adom is Israel’s National Emergency Pre-Hospital Medical and Blood Services Organization. “She’s donating to Magen David Adom who support the IDF and the killing of Palestinian kids,” said the user of the site formerly known as Twitter. “This is a ‘both sides’ post. Why are you donating to MDA which is literally supporting the IDF? Supporting both sides is not activism.”

  • Shell Pakistan’s parent company to exit ownership, announces sale of stake

    Shell Pakistan’s parent company to exit ownership, announces sale of stake

    Shell Pakistan Limited (SPL) announced on Wednesday that its parent company, Shell Petroleum Company Limited (SPCo), has communicated its intention to divest its ownership stake in SPL. The notification was conveyed by SPCo to the Board of Directors of Shell Pakistan Limited during a meeting held on June 14, 2023. The announcement was promptly disseminated to the Pakistan Stock Exchange (PSX) by Shell Pakistan.

    The potential sale of shares is contingent upon a targeted sales process, the completion of binding documentation, and obtaining the requisite regulatory approvals. It should be noted that SPL operates as a subsidiary of Shell Petroleum Company Limited, United Kingdom, which is itself a subsidiary of Royal Dutch Shell Plc—a globally renowned energy and petrochemical conglomerate.

    Shell Pakistan Limited engages in the marketing of petroleum products, compressed natural gas, and a diverse range of lubricating oils. While this development signifies a change in ownership, Shell Pakistan has emphasised that its ongoing business operations will remain unaffected and continue as usual. The company remains fully committed to ensuring the provision of safe and reliable services to its valued customers and partners.

    In the previous month, Shell Pakistan Limited released its financial results for the first quarter of 2023, which were significantly impacted by the prevailing economic crisis in the country. The company reported a substantial loss of Rs4.6 billion, in contrast to a profit after tax of Rs2 billion in the corresponding period last year. This downturn can be attributed to the unprecedented devaluation of the Rupee, escalating inflation, and broader macroeconomic uncertainties.