More queries over Statoil in Angola

Oil Minister Tord Lien is under pressure to account for how Statoil has monitored hundreds of millions of kroner it's been forced to pay in return for winning rights to operate an Angolan oil field. PHOTO: Berglund

Oil Minister Tord Lien and Foreign Minister Børge Brende both face more questioning by the Parliament’s disciplinary committee over Statoil’s controversial operations in Angola. The committee wants to know what happened to NOK 420 million Statoil paid to finance construction of a research center that’s never been built. Norwegian media reported over the weekend that the parliament’s […]

New Statoil cuts worry suppliers and employees

Even though Norway’s state oil company Statoil reported some large losses on Thursday, its share price soared because investors hailed the company’s plans to sharply reduce planned investments. That worries both suppliers and employees, who fear the consequences. Statoil’s operating results for the fourth quarter of last year were almost cut in half from the year […]

Secret Swiss accounts about to go public

Norwegians won’t be able to stash away money in secret Swiss bank accounts for much longer. An agreement recently signed by Finance Minister Siv Jensen and Switzerland’s ambassador to Norway formalizes the sharing of bank account information between the two countries, and record numbers of Norwegians already are reporting their overseas wealth to tax authorities. The […]

DNB blasted for closing branches


DNB’s announcement on Wednesday that it plans to close more than half its branch offices, and lay off 600 employees, has set off protests from the large national labour organization representing many bank workers. Finansforbundet claims both DNB and its major shareholder, the Norwegian state, are acting irresponsibly. DNB became the second bank this week to […]

Corruption rears its head once again

Jotun is one of Norway's most international companies, as evidenced by a large Jotun billboard that greets arrivals in Labuan, East Malaysia. The Norwegian paint giant has made its presence known in Malaysia, along with other places, for several decades. PHOTO: Views and News

Norway is generally viewed as a non-corrupt country, but over the past few years, nearly every large Norwegian company has had to grapple with the problem. The biggest cases have involved Yara International, Telenor and Statoil, with the latter currently embroiled in more questions about its dealings in Angola. Now corruption seems to be spreading in […]

Job cuts spread to west coast bank

Sparebanken Vest, a regional bank serving customers mostly in western Norway, announced on Tuesday it will be shutting down branches and laying off as many as 100 employees. Bank officials say the advent of online banking services has sharply reduced the need for bank offices. Norwegians have responded in great numbers to the banks’ calls to […]

Oslo’s grand old lady gets a facelift

The Grand Hotel's main entrance has been closed recently, with signs billing its current renovation as the beginning of a "a new era." PHOTO:

Oslo’s Grand Hotel has housed countless Nobel Peace Prize winners, dignitaries and entertainers over the years, but fewer are likely to be checking in this winter. Parts of the legendary hostelry have been closed and its entrance blocked off since Christmas, as the historic building undergoes major renovation. The hotel, owned by Norwegian real estate investor Christian Ringnes, is […]

Ryanair cleared for new OSL take-off

Ryanair, the low-fare Irish airline that’s threatening to stop flying from the Rygge Airport in Moss, appears poised to start flying new routes out of Oslo’s main airport at Gardermoen (OSL) instead. Ryanair reportedly has turned down slots offered from this spring at OSL, but has an option to start them up from September 1. Ryanair itself […]

Another oil rig company cuts up to 200 jobs

Citing an “extremely demanding” market, Songa Offshore announced on Monday that it would reduce staff by as many as 200 people. The move makes Songa the latest company in Norway to cut jobs in the face of sharply lower oil prices and reduced oil company investment. Songa Offshore called the job cuts a “very important […]

Ryanair to drop flights from Rygge

Ryanair won't be taking off from Norway's Rygge Airport in Moss, south of Oslo, after November 1, if the government goes through with a new airline seat tax. PHOTO: Ryanair

UPDATED: Cut-rate airline Ryanair is following through on its threat to stop flying from the private- and county-owned Rygge Airport in Moss, south of Oslo. The Irish airline has complained mightily about the Norwegian government’s plan to impose a new airline seat tax this spring, as part of efforts to meet climate goals. Local newspaper Moss […]