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Global car makers show off hundreds of vehicles in China's commercial hub Shanghai on Monday, as the world's biggest auto market continues to attract despite a sharp deceleration in sales growth. On the sidelines of China's premier auto show, foreign car makers admitted an economic slowdown in the world's second largest economy had taken its toll, but said the market was simply too big -- and important -- to ignore. "The market will increase less than in former years, but still much higher than in any other relevant automotive market in the world," President and CEO of Volkswagen Group China, Jochem Heizmann, told reporters on Sunday. Vehicle sales in China reached 23.49 million last year, well ahead of the United States, which it overtook in 2009.
NICOSIA, Cyprus (AP) — The election for the Turkish Cypriot leadership will go to a second round after none of the candidates managed to garner enough votes Sunday to avoid a runoff, authorities said, as talks to reunify the ethnically-split island of Cyprus are expected to resume next month.
Finland's conservative Prime Minister Alexander Stubb conceded his left-right government's defeat in Sunday's general election at the hands of the opposition Centre Party, after a campaign dominated by the country's struggling economy. Centre Party leader Juha Sipila, a 53-year-old IT millionaire and newcomer to politics, is widely expected to become Finland's next prime minister. The rightwing eurosceptic Finns Party surged in late ballot counting on Sunday evening and was seen becoming the country's second-biggest party, garnering 38 seats. Stubb's conservative National Coalition Party was meanwhile expected to win 37 seats and the Social Democrats 34 seats.