Norway

Norway wealth fund to back call for Microsoft human rights report at AGM

The world's largest sovereign wealth fund owned a 1.35% stake worth $50 billion in Microsoft as of June 30, according to fund data, its second-largest equity holding overall, after Nvidia

Norway transport firm tightens security after Chinese buses found hackable

A leading Norwegian public transport operator has said it will introduce stricter security requirements and step up anti-hacking measures after a test on new Chinese-made electric buses showed the manufacturer could remotely turn them off. Transport operator Ruter said test results published last week showed that Chinese bus maker Yutong Group had access to their control systems for software updates and diagnostics. In theory, this could be exploited to affect the bus," it said. The tests with buses driven in underground mines to strip away external signals were conducted both on brand-new Yutong buses and on three-year old vehicles from Dutch bus manufacturer VDL, the company said. It said the tests showed that the Dutch buses didn't have the ability to conduct over-the-air software updates, while the Chinese-made buses did. Yutong did not immediately respond to requests from The Associated Press on Wednesday seeking comment. The Guardian newspaper, which reported on the issue,

Norway halts ethical divestment rules for $2.1 trn sovereign wealth fund

Oslo pauses its ethics council's work amid political backlash and US pressure, reshaping how the world's largest investor approaches ESG

Norway fund to vote against Tesla's $1 trn compensation for Elon Musk

Investors in the electric-vehicle maker will decide on November 6 whether to approve the package, likely the largest-ever CEO compensation agreement

Venezuela shuts embassy in Norway after Machado wins Nobel Peace Prize

The Nobel Peace Prize is awarded by an independent committee appointed by Norway's parliament, which is not related to the Executive's foreign affairs policy

Trump asked Norwegian minister about Nobel Peace Prize during tariff talks

US President Donald Trump mentioned the Nobel alongside tariff talks with Norway; multiple governments have recently voiced support for his nomination

Delhi's Holambi Kalan e-waste plant to double capacity after Norway study

Delhi's first E-Waste Eco Park in Holambi Kalan will now be twice as big and powerful, Environment and Industries Minister Manjinder Singh Sirsa said. Initially designed to process 51,000 metric tonnes of e-waste annually with an investment of Rs 150 crore, the Holambi Kalan plant will now be built to handle 1,10,000 MT per year, covering almost twice the area and with nearly double the capital expenditure, according to a government statement. The decision comes after Sirsa's August 4-5 inspection of the Revac facility in Norway's Revetal, regarded as one of Europe's most advanced and environmentally compliant e-waste plants, it said in the statement. Sirsa said the upgraded project will adopt a global zero-waste model, ensuring no air, water, or radiation pollution, with advanced scrubbers, in-house water purification, concretised flooring, and complete material recovery. "Our goal is integrated progress where clean industry fuels economic growth and safeguards the environment," h

India ratifies trade deal with EFTA, eyes boost in exports, investment

India on Tuesday submitted the ratification document of the free trade agreement with the four-European nation bloc EFTA to Norway. The pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), will be implemented from October 1, Commerce and Industry Minister Piyush Goyal has said on Saturday. "India deposited the Instrument of Ratification of the TEPA between India and EFTA today at the Ministry of Foreign Affairs of Norway, which is the depository entity of TEPA," according to a post by the Indian Embassy in Norway on X. The two sides signed the agreement on March 10, 2024. Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products, such as Swiss watches, chocolates, and cut and polished diamonds, at lower or zero duties. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.

Held 3 meetings in 35 days with EU official to push FTA talks, says Goyal

Commerce and Industry Minister Piyush Goyal has held three meetings within a short span of 35 days with the European Commissioner for Trade Maros Sefcovic with an aim to give an impetus to the reposed negotiations for a free trade agreement. Goyal said on Thursday that India has already signed similar agreements with four-European nation bloc EFTA and the UK. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Now, India is in the process of concluding the negotiations with the 27-nation bloc European Union. "We have held three meetings in 35 days. It shows our shared commitment for the FTA... we are trying to do it faster," Goyal told reporters here. The minister is here on a two-day visit. He is meeting leaders and businesses to boost trade and investments between the two countries. The first and the second meetings between Goyal and Sefcovic were held on May 1 and May 23 in Brussels, while the third meeting concluded on June

Denmark takes Arctic Council chair at a time when Trump eyes Greenland

Denmark on Monday takes over the Arctic Council's rotating chairmanship from Norway at a time when Arctic security tensions are fraught and US President Donald Trump is seeking to annex Greenland. Denmark chose to name Vivian Motzfeldt, Greenland's foreign affairs minister, to be the new chair of the council, the eight-nation grouping of countries that border the Arctic. Denmark has rebuffed Trump's talk of buying the strategic Arctic island, a semi-autonomous territory of the kingdom. During Norway's two-year turn at the helm of the Arctic Council, the intergovernmental body was beset by strain over how to deal with Trump and Russia's war in Ukraine. Russia is the biggest Arctic nation and was the chair of the council before Norway. It was one of the few settings where Western countries and Russia worked together closely, but the other seven countries decided to pause their work with Russia in the council shortly after Moscow launched the full-scale invasion of Ukraine in February

India third most dangerous country to drive, Norway safest: Report

South Africa has been named the world's most dangerous country to drive in the annual report put together by a US-based driver training company based on research in 53 countries. India, at 49th place, was listed among the bottom five with the US ranking 51, making it the third most dangerous country to drive, according to Zutobi.com, the international driver's education company with courses in multiple countries. For the fourth year in a row, Norway is the safest country in the world for driving, while South Africa maintained its last position in the list for the second consecutive year. The Zutobi statement said it analysed countries based on indicators including motorway speed limits, blood alcohol concentration limits for drivers and road traffic death rates, to determine the world's safest and most dangerous countries to drive. The average number of estimated road traffic deaths per 1,00,000 across all countries has decreased since the previous year from 8.9 to 6.3, while there

Norwegian firm refuses fuel to US warships over Trump's snub to Zelenskyy

The move follows Ukrainian President Volodymyr Zelenskyy's recent visit to the White House, where he had a hostile conversation with US President Donald Trump and Vice President JD Vance

TCS extends partnership with Norway's DNB Bank ASA for next 5 years

India's largest IT services company Tata Consultancy Services (TCS) on Friday announced an extension of its partnership with Norway's largest financial services group, DNB Bank ASA, for an additional five years. It, however, did not divulge the financial details of the extended contract. With the renewed pact, TCS will continue as DNB's strategic partner, supporting the bank's digital modernisation, while enhancing cost efficiency targets, according to a release. TCS will also deploy next-generation technology for DNB's modernisation initiatives by maintaining and developing new applications, strengthening security capabilities, and providing insights on next-generation technologies, including Artificial Intelligence (AI) and quantum computing. Elin Sandnes, Group EVP of Technology and Services at DNB, said that the group already has a longstanding and proven relationship where TCS has helped enable some of the biggest transformations and innovations over the past twelve years. "W

In Norway, nine out of ten new cars sold in 2024 were fully electric

Fully electric vehicles accounted for 88.9% of new cars sold in 2024, up from 82.4% in 2023, data from the Norwegian Road Federation (OFV) showed

Trump, not yet in office, already a figure in global economic policy

The Fed cut rates as expected on Wednesday amid a busy year-end run of central bank meetings from Ottawa and Frankfurt to Tokyo and London

Norway-India ties at their very best and growing: Norwegian envoy Stener

Norwegian Ambassador to India, May-Elin Stener expressed support for the 10-point peace plan and said that India is contributing towards conflict resolution just like Norway

Norway planning to ratify India-EFTA free trade agreement next year

Norway on Sunday said that it plans to ratify the India-EFTA free trade agreement next year, the commerce and industry ministry said. India and the four-nation EFTA (European Free Trade Association) bloc inked the agreement, officially dubbed as Trade and Economic Partnership Agreement (TEPA), on March 10 this year. However, it needs ratification from the four countries for its implementation. The agreement came up for discussions during the India-Norway Business Forum which was held in Mumbai. May-Elin Stener, Ambassador of Norway to India, termed TEPA a landmark in bilateral relations and highlighted its potential to further enhance trade and investment between the two nations. "She noted Norway's plans to ratify TEPA by 2025 and emphasized areas of focus, such as renewable energy, maritime industries, climate, and sustainability," the ministry said. The ambassador also announced that Norway will host the Indo-Nordic Summit in 2025. In the deliberations, many Norwegian companie

India, Norway to discuss ways to increase trade, investment ties on Monday

India and Norway will on Monday discuss ways to enhance trade and investments ties between the two countries, an official statement said on Saturday. The talks will be held between Commerce and Industry Minister Piyush Goyal and Norwegian industry delegation led by May-Elin Stener, Ambassador of Norway to India. The India-Norway Business Roundtable will be be held in Mumbai. "Minister Goyal is expected to hold discussions on key opportunities and trends for further Norwegian investments in India, and potential areas of collaboration," the commerce and industry ministry said. A significant focus of the discussion will be on the recent Free Trade Agreement (FTA) between India and the EFTA countries, which holds immense potential for both nations, it said. "India is particularly keen on attracting USD 100 billion in investments from the EFTA countries, as outlined in the agreement," it added. It said the two sides will assess the opportunities in investment partnerships in logistics

Norway's Equinor, Shell plan to form UK oil and gas joint venture

Joint venture will be based in Aberdeen, Scotland, and will be set up to sustain domestic oil and gas production and security of energy supply in Britain, Equinor said

Rising sick days are costing European businesses billions every year

As companies struggle with chronic shortages, critics blame an overly generous welfare system, where spending on health-related benefits outranks other developed nations