Norway

Norwegian central bank cuts lead rate to 2.50 per cent

Norway, OsloOslo- The Norwegian central bank on Wednesday cut its lead rate a further 0.50 percentage points to 2.50 per cent, in line with market expectations.

The new cut takes effect Thursday, the central bank said.

"Global economic growth has weakened further since December," Norges Bank Governor Svein Gjedrem said in a statement referring to when the central bank announced its previous cut.

"The international downturn seems to be having a broad impact and is likely to be deeper than previously expected," he added.

Moan beats Koivuranta for fifth Nordic combined win of season

Anssi KoivurantaFrance - Magnus Moan of Norway made up a huge deficit on Finland's World Cup leader Anssi Koivuranta to claim his fifth season victory in Nordic combined skiing on Saturday.

Trailing Koivuranta by almost two minutes after the morning ski-jumping portion, Moan passed his rival in the closing stages of the
10-kilometre cross-country pursuit to win in 26 minutes 6.8 seconds.

Moan has now won three of the last four races, five in the season and a dozen overall.

Koivuranta trailed by 9.2 seconds and German Bjoern Kircheisen placed third with a deficit of 32.9 seconds.

State pension fund drops US group and Canadian mining group

Oslo - A US company that makes cluster weapons and a Canadian mining group with operations in Papua New Guinea have been dropped by Norway's state pension fund, the Finance Ministry said Friday.

A special ethics panel had advised the government to sell its holdings in US group Textron Inc Corporation that makes cluster weapons. Stakes in nine other cluster weapon makers have previously been shed.

"We cannot participate in the funding of this type of production," Finance Minister Kristin Halvorsen said in a statement.

Oslo in December hosted the signing of an international treaty banning cluster weapons.

Norwegian police stage 90-minute strike

oslo, norwayOslo - Norwegian police officers Thursday staged a nationwide strike in protest against changes in regulations for working hours.

The 90-minute strike was called by the Norwegian Police Federation.

Union leaders said they were angered that they were not allowed to take part in negotiations concerning changes to working hours, and that police officers were forced to have shorter time off periods posing a possible threat to their health.

In the west coast city of Bergen, police officers called for Justice Minister Knut Storberget to resign, local media reported.

Norwegian police union to strike

Norwegian police union to strikeOslo - Norwegian police officers were to stage a brief nationwide strike Thursday in protest against regulations for working hours, the main police union said Wednesday.

The Norwegian Police Federation and justice ministry have failed to settle differences over new regulations concerning working hours and time off.

The union was also angered that they were not allowed to take part in negotiations concerning these changes.

Norwegian Olympic ski-jump champion faces four-month ban

Norway, OsloOslo- Olympic ski-jump champion Lars Bystoel of Norway faces a four-month ban after testing positive for doping, the agency Anti-Doping Norway said Wednesday.

The agency's disciplinary body recommended the ban after a test conducted in connection with a competition at the end of November
2008 revealed traces of cannabis.

A panel in the Norwegian Olympic and Paralympic Committee and Confederation of Sport has yet to confirm the ban, a spokesman for Anti-Doping Norway told Deutsche Presse-Agentur dpa.

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