Page 2 - Norway

Can recognition by European nations bring Palestine closer to statehood?

"We're not going to allow the possibility of the two-state solution to be destroyed by force," said Pedro Sánchez, the Spanish prime minister

Israel plans to ban diplomatic visits and visas for Norway, Ireland, Spain

Norway, Ireland, and Spain announced on Wednesday their countries' intentions to formally recognise a Palestinian state in the coming days

'Watch': Israel shares new video of 'cruel' Hamas as global support weakens

Israel-Hamas are locked into the Gaza war, in which 35,000 people have died so far. Releasing a new video, Israel urged the world 'not to look away' while directing its attention to 'cruelty' of Hamas

Norway further tightens its restrictions on the entry of Russians

Norway on Thursday said it will further tighten its restrictions on the entry of people from Russia, saying those with tourist visas issued by Norway before regulations were tightened in 2022 or issued by another European country will be barred from entering the Scandinavian country as of next week. Justice Minister Emilie Enger Mehl said the tightening was a response to Russia's illegal war of aggression against Ukraine. Norway has a 198-kilometer (123-mile) -long border with Russia in the Arctic. Last week, Aftenposten, a major Norwegian daily, said Norway's domestic security agency, known by the acronym PST, was worried that Russians involved in intelligence gathering were entering at the sole border crossing at Storskog near the town of Kirkenes. Inger Haugland, head of counterespionage for PST, said Wednesday that "Russia now sees itself benefiting from carrying out sabotage in European countries in order to weaken Ukrainian defense capabilities. He gave no further details. O

Two-state solution for Palestine should come through direct talks: Biden

Sullivan called Israel's decision to withhold funds from Palestinian authority 'wrong', noting that withholding funds destabilises the West Bank and undermines the search for security

Norway, Ireland and Spain recognise a Palestinian state in a historic move

Norway's prime minister says Norway is formally recognising Palestine as a state. Norwegian Prime Minister Jonas Gahr Store said on Wednesday, There cannot be peace in the Middle East if there is no recognition. Gahr Store said the Scandinavian country will recognise a Palestinian state as of May 28. Several European Union countries have in the past weeks indicated that they plan to make the recognition, arguing a two-state solution is essential for lasting peace in the region. Norway which is not a member of the European Union but mirror its moves, has been an ardent supporter of a two-state solution between Israel and Palestine. The terror has been committed by Hamas and militant groups who are not supporters of a two-state solution and the state of Israel, the Norwegian government leader said.

Spain, Ireland, Norway to recognise a Palestinian state. Why it matters?

Spain, Ireland and Norway said on Wednesday that they would recognise a Palestinian state on May 28, a step toward a long-held Palestinian aspiration that came amid international outrage over the civilian death toll and humanitarian crisis in the Gaza Strip following Israel's offensive. The triple and almost simultaneous decisions may generate momentum for the recognition of a Palestinian state by other EU countries and could spur further steps at the United Nations, deepening Israel's isolation. Malta and Slovenia, which also belong to the 27-nation European Union, may follow suit. Some 140 of 190 represented in the UN countries have already recognised a Palestinian state. Here's a look at how and why the new European announcements could be important: WHY DOES IT MATTER? The 1948 UN decision that created Israel envisaged a neighbouring Palestinian state, but some 70 years later control of the Palestinian territories remains divided and bids for UN membership have been denied. T

Adani Ports & SEZ shares stable a day after Norway's Norges Bank exit

Norges had cited Adani's investment in a port in Myanmar for its decision

Norway excludes Adani Ports from govt pension fund over ethical concerns

US defence contractor L3Harris Technologies and China's Weichai Power have also been excluded

Red Sea crisis to cause 15-20% industry capacity loss, says Maersk

According to Maersk, the effects of the situation in the Red Sea are widening and continuing to cause industry-wide disruptions

UBS gets backing for capital plan, Ermotti pay from Norway wealth fund

The move could come at a cost for shareholders, who could see their holdings diluted in a crisis

Norges Fund Investment Bank of Norway supports ICICI Securities delisting

Amid Quantum Mutual Fund voting against the proposed delisting of ICICI Securities, the largest public shareholder Norges Fund Investment Bank has voted in favour of the proposal of the stock broking arm of ICICI Bank. The foreign fund, which holds nearly 3.25 per cent stake in ICICI Securities, voted in favour on Thursday, the first day of e-voting, as per the information posted on the website of Norges Fund Investment Bank. The e-voting will remain open till March 26. The move of the Norway-based Norges Bank provided a shot in the arm of ICICI Securities' plan to delist itself as it needs two-thirds of the public shareholders' support to pass the resolution. However, Quantum Mutual Fund, which holds a 0.09 per cent stake in ICICI Securities, voted against the resolution on Thursday. Quantum Mutual Fund opposed the delisting as it did not find the swap share ratio lucrative to the shareholders of ICICI Securities. As per the scheme of arrangement, shareholders of ICICI Securitie

Duty concession on gold imports from Switzerland under EFTA on table

India may give quota-based duty concession on gold imports from Switzerland under the proposed free trade agreement with the four European nation bloc EFTA, sources said. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Sources also said that India has sought an investment commitment of USD 50 billion during the first ten years after the implementation of the agreement and another USD 50 billion over the next five years from the member countries of the bloc. Import duty concession on gold was a major demand of Switzerland from India in the agreement. Gold accounts for about 80 per cent of India's imports from Switzerland. New Delhi has extended 1 per cent duty concession to domestic importers on a specified quantity of gold under TRQ (tariff rate quota) in a trade pact with the UAE. "Similar duty concessions are also being worked out under the EFTA agreement," one of the sources said. An email query to the commerce ministry o

Sweden joins Nato bidding farewell to more than 2 centuries of neutrality

Sweden's last war ended in 1814, and when the rifles and cannons it aimed at Norway fell silent, the once-warring power would not take up arms again. For the next two centuries, Sweden embraced a policy of neutrality, refusing to take sides in wars or join any military alliance. It was a stance that kept peace at home and contributed to the country becoming a prosperous welfare state and humanitarian superpower. This remarkably long era of nonalignment is coming to a close as Sweden joins NATO. The ceremonial formalities are expected soon, after 18 months of delays while Turkey and Hungary held up ratification and sought concessions from other members of the alliance. Sweden is now leaving 200 years of neutrality and nonalignment behind us," Swedish Prime Minister Ulf Kristersson said after Hungary's Parliament gave its approval Monday, overcoming the final hurdle. "It is a big step. We must take that seriously. But it is also a very natural step that we are taking. Sweden, like ..

Deepak Fertilisers ties up with Norway's Equinor for long-term LNG supply

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) on Monday said it has entered into a long-term agreement with Norway's Equinor for supply of Liquefied Natural Gas (LNG). In a regulatory filing, DFPCL said the a long-term LNG contract will strengthen its value chain from gas to ammonia to various downstream fertilisers, industrial chemicals, and mining chemicals. This end-to-end tie-up shall establish a strong long-term foundation for all of DFPCL's product segments. "This agreement is for annual supplies of up to 0.65 million tonnes over a period of 15 years, beginning 2026. The tie-up provides room for trading some LNG parcels in the growing demands in India as well as accommodating DFPCL's growing captive needs," the company said. The LNG will be delivered to the west coast of India, the company said. Equinor, erstwhile Statoil, is among the established leaders in the oil & gas sector over the last 50 years, with a market cap of USD 75 billion wherein majority ...

World's largest cruise ship begins its maiden voyage from the Port of Miami

The world's largest cruise ship is set to begin its maiden voyage Saturday as it gets underway from the Port of Miami. Royal Caribbean's Icon of the Seas, which runs nearly 1,200 feet (365 metres) from bow to stern, is leaving South Florida for its first seven-day island-hopping voyage through the tropics. The ship was officially christened Tuesday with help from soccer legend Lionel Messi and his Inter Miami teammates. Icon of the Seas is the culmination of more than 50 years of dreaming, innovating and living our mission to deliver the world's best vacation experiences responsibly," Royal Caribbean Group President and CEO Jason Liberty said earlier this week. She is the ultimate multigenerational family vacation, forever changing the status quo in family travel and fulfilling vacation dreams for all ages on board. When the Icon of the Seas was first revealed in October 2022, the ship spurred the single largest booking day and the highest volume booking week in Royal Caribbean's .

'Free trade agreement talks between India, EFTA bloc at advanced stage'

Negotiations for a free trade agreement between India and the four-nation EFTA bloc are at an advanced stage as both sides have reached a shared understanding on key issues, a senior official has said. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. India and the EFTA have been negotiating the pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), since January 2008 to boost economic ties. "Following extensive negotiations, a shared understanding has been achieved on key issues during the ministerial meeting. Ongoing efforts are now focused on shaping the convergence that has emerged," the official said. Commerce and Industry Minister Piyush Goyal held a meeting recently with Swiss Federal Councillor Guy Parmelin in Mumbai. Parmelin, in a social media post on X, has said that officials are working around the clock to settle last details so that it can be signed as soon as possible. "At the last-minute ..

Reliance Industries sells REC Solar Norway to Elkem ASA for $22 million

Reliance Industries Ltd on Monday said it will sell REC Solar Norway AS to Oslo-listed Elkem ASA for around USD 22 million. REC Norway is a wholly-owned unit of REC Solar Holdings and is involved in the manufacturing of kerf-based polysilicon in the Scandinavian country. In October 2021, a unit of Reliance acquired Norway's solar panel manufacturer at an enterprise value of USD 771 million as the Indian oil-to-retail conglomerate sought to extend its dominance into alternative energy. "REC Solar Holdings AS, a step-down wholly-owned subsidiary of Reliance Industries Ltd (RIL), has informed that it has, on January 14, 2024, entered into a share purchase agreement with Elkem ASA for the sale of its 100 per cent equity stake in REC Solar Norway AS for an aggregate cash consideration of USD 22 million," RIL said in a stock exchange filing. Founded in 1904, Elkem ASA is a silicon-based material provider, and listed on the Oslo Stock Exchange. "REC Norway, a wholly-owned subsidiary of R

Russia to deploy newest howitzers close to borders of Finland and Norway

Earlier in December, Russia's TASS state news agency reported that single Coalition-SV howitzers had already been deployed to the frontline in Ukraine

Tesla faces inquiry by Norway's safety regulator over suspension failures

A decision is expected by Christmas. The agency has the authority to order a recall if an automaker refuses