Norway’s €900bn sovereign wealth fund has proposed overhauling how its holdings are placed across the globe, calling for a shift away from Europe.

Norway’s government has boosted the amount of oil money it will spend this year to a record level, dipping deeper into its sovereign wealth fund to ward off a recession.

The leader of Norway’s right-wing Progress Party today said former party member Anders Behring Breivik’s anti-Muslim views are “perversely unique” and not in any way linked to her party.

Norway’s prime minister today said fighting climate change would be a priority in his second term after his left-leaning government beat a splintered opposition to win re-election.