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BLOOMBERG Norwegians registered a higher share of electric cars in March than ever before, helped by a new monthly record in the Nordic country for Tesla Inc’s Model Y. Almost 87% of the 19,366 cars sold in March were electric, the Norwegian Road Federation OFV said. Diesel and gasoline cars accounted for 2.7% of sales during the month, OFV said, ...

BLOOMBERG Volvo AB’s second-largest shareholder Geely said while it’s not currently planning any changes to its position, “anything is possible” in future. Zhejiang Geely Holding Group Co, controlled by Chinese billionaire Li Shufu, is in “good dialog” with Volvo, Hans Oscarsson, the head of Geely’s Sweden branch, said in emailed comments ahead of the world’s second-biggest truckmaker’s annual general meeting. ...

BLOOMBERG London initial public offerings (IPOs) have slumped to a 14-year low, far outpacing declines seen in New York and in Europe, as the UK capital struggles to attract new listings and its shares trade at a steep discount to international peers. Just three tiny firms have listed in London this year, raising only about $14 million combined, the lowest ...

BLOOMBERG Finland became the 31st member of the North Atlantic Treaty Organization (Nato), completing a tumultuous process of accession sparked by Russia’s invasion of Ukraine that upended the European security landscape. In a bittersweet moment, Finland gained Article 5 security guarantees and deterrence, but was forced to leave its close neighbour Sweden behind on the doorstep of the Nato. Foreign ...

BLOOMBERG India rejected attempts by China to claim some parts of Indian controlled territories, highlighting yet another flash-point between the neighbours. “Arunachal Pradesh is, has been, and will always be part an integral and inalienable part of India,” said a statement of the Ministry of External Affairs. Beijing issued maps and names of 11 places as part of its southern ...

BLOOMBERG  Credit Suisse Group AG Chairman Axel Lehmann apologised to shareholders for failing to stem a loss of trust in the bank that he said had built up well before he took over. “We failed to stem the impact of legacy scandals, and counter negative headlines with positive facts,” Lehmann said in remarks prepared for the bank’s annual shareholder meeting ...

BLOOMBERG  Yibin City Commercial Bank Co is considering a Hong Kong initial public offering that could raise about $200 million to $300 million, according to people familiar with the matter. The Chinese lender is working with CCB International Holdings Ltd and ICBC International Holdings Ltd to prepare for the first-time share sale, which could take place as soon as this ...

BLOOMBERG  Toss Bank is considering raising funds from private investors in a fresh round that might boost the South Korean digital lender’s valuation to as much as $3 billion, according to people familiar with the matter. The Seoul-based company is working with a financial adviser to raise $300 million to $500 million, the people said. Both new and existing investors ...

BLOOMBERG  Sri Lanka held its benchmark rate at a two-decade high to keep Asia’s fastest inflation in check while supporting economic recovery after the nation secured a $3 billion International Monetary Fund (IMF) bailout. The Central Bank of Sri Lanka kept the standing lending facility rate unchanged at 16.5%, according to a statement on its website. Seven of eight economists ...

BLOOMBERG  China’s yuan has replaced the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow. The yuan surpassed the dollar in monthly trading volume in February for the first time, and the difference became more pronounced in March, according to data compiled by Bloomberg ...