Stockholm - Swedish banking group Swedbank on Monday said it planned to raise 12.4 billion kronor (1.51 billion dollars) by issuing new shares.

Swedbank is one of Sweden's four major banking groups. In recent weeks, Swedbank has been in the sights of analysts over its presence in the Baltic region where economic growth has slowed to standstill and fears of loan losses have increased.

According to the bank, existing shareholders including insurance and savings group Folksam, savings bank foundations, over 60 savings banks, as well as the Swedish national pension funds AP1 and AP2 had underwritten 100 per cent of the issue.

The new issue was pending approval at an extraordinary general meeting due November 25.

Stockholm, Oct 26 : A team of archaeologists digging near the planned expansion of a roadway in Sweden have uncovered 1,700 year old artifacts made of wood, making them some of the oldest man-made wooden objects over discovered in the country.

According to a report in The Local, the find was made near Alvangen in western Sweden and provides additional clues about how farmers in the region lived during the Iron Age.

“We’ve found hundreds of wooden objects, including a wooden wheel. We’re coming much closer to the people of the Iron Age with this find. We’re really getting up close and personal,” said Bengt Nordqvist, an archaeologist from the Swedish National Heritage Board.

Stockholm - Doctors at a Swedish hospital said Friday they have successfully conducted surgery to fit a Swedish patient with a temporary artificial heart.

The operation - the first of its kind in the Nordic region - was conducted October 15 at the Sahlgrenska University Hospital in Gothenburg, in western Sweden.

The 31-year-old male patient was reported to be in stable condition, but remained in intensive care, said Dr Asa Haraldsson, a member of the team that conducted the operation.

Dr Ulf Kjellman, who performed the surgery, said both sides of the patient's heart had been failing. He added the patient had not been responding to treatment and other vital organs were threatened without the procedure.

Stockholm- Italian author Roberto Saviano, who has been threatened for his writings on the mafia, has been invited to give a lecture at the Swedish Academy, a spokesman for the body that selects the Nobel literature prize said Friday.

The academy decided on the invitation at its weekly meeting on Thursday, Odd Zschiedrich, administrative coordinator at the academy, told Deutche Presse-Agentur dpa.

Stockholm - Swedish heavy-vehicle maker Volvo on Friday reported a 37-per-cent drop in pre-tax income for the third quarter of 2008, citing the economic downturn in key markets.

Pre-tax income was 2.89 billion kronor (370 million dollars), compared to 4.57 billion kronor in the corresponding period 2007 for the Volvo group, excluding the Ford-owned car division.

Net sales were up 2 per cent to 69.6 billion kronor, while net income fell 36 per cent to 2 billion kronor.

Stockholm - The Swedish Academy that selects the Nobel literature laureate is reportedly split over how to respond to death threats against Italian best-selling author Roberto Saviano.

Saviano's book, Gomorra, has angered the mafia, or Camorra, in Naples, and he has been forced to live under police protection. A week ago he said in a newspaper interview that he was considering leaving Italy.