Oslo - Norwegian energy giant Statoil Hydro's third-quarter net income fell 57 per cent, the group said Monday, citing a stronger US dollar rate that pushed up tax rates.

Net income for the quarter was 6.3 billion kroner (937 million dollars), compared to 14.6 billion kroner in the corresponding business period of 2007.

Net operating income increased 31 per cent to 47 billion kroner, while turnover was up 35 per cent to 170 billion kroner, the group said.

Oslo - Georgian President Mikheil Saakashvili held talks Wednesday with Norwegian Prime Minister Jens Stoltenberg that touched on Tbilisi's aim of joining NATO in future.

The two also discussed developing energy cooperation and Norwegian support for various reform programmes, Stoltenberg told a joint news conference.

Concerning Georgia's prospects of joining NATO, Stoltenberg said "the door is open," citing the decision taken by NATO leaders at a summit in Bucharest in April.

"What we are discussing is the timetable, the development and reforms that are needed in Georgia," Stoltenberg said, adding that NATO and Georgia were in "close dialogue."

Oslo - Norwegian telecommunications group Telenor shares dropped Wednesday after the group unveiled plans to expand into India in connection with its third-quarter report.

The group's share price was off some 15 per cent at midday on the Oslo bourse, since the Telenor management said it would need a cash injection of 12 billion kroner (1.7 billion dollars) for the pending expansion into India.

Telenor planned a rights issue - a way of issuing new shares - next year, chief executive Jon Fredrik Baksaas told analysts after announcing that Telenor had signed a deal to secure a 60-per-cent controlling stake in Indian group Unitech Wireless.

Oslo  - The Norwegian central bank on Wednesday cut its lead rate a further 0.50 percentage points to 4.75 per cent.

Oslo - British actor Michael Caine is to co-host the upcoming Nobel Peace Prize Concert along with US actress Scarlett Johansson, organizers said Wednesday.

Caine, a two-time Academy Award-winning actor, appeared with Johansson in the 2006 movie The Prestige.

He was knighted in 2000, the same year he won an Oscar for best supporting actor for Cider House Rules.

Oslo - Norwegian telecommunications group Telenor on Wednesday posted an increase in pre-tax profit and sales for third- quarter of 2008 and unveiled plans to expand into India.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were 10 billion kroner (1.44 billion dollars), compared to 9.48 billion kroner in the corresponding business period of 2007.

Sales increased year-on-year from 26.6 billion kroner to 27.6 billion kroner, the group said.

Chief executive Jon Fredrik Baksaas said Telenor had 159 million mobile telephone subscriptions at the end of the quarter.

Baksaas said the business environment was "currently more turbulent, and we foresee a period with lower global growth."