Yara ‘surprised’ by collapse of merger talks

The new acting chief executive of Norwegian fertilizer firm Yara International said he was “surprised” that CF Industries of the US has suddenly backed out of talks aimed at merging the two firms. Torgeir Kvidal thinks CF cut off the talks too early. “This was surprising,” Kvidal told newspaper Dagens Næringsliv (DN) Friday morning after […]

Industrialist Mohn paid most tax of all

Bergen industrialist and philanthropist Trond Moe is opening up his wallet again, this time to help fund a social democratic "think tank" on the left side of Norwegian politics. PHOTO: Wikipedia Commons/Flickr

Industrialist Trond Mohn of Bergen, known for being one of Norway’s biggest philanthropists, also paid the most tax of any other Norwegian last year. Kjell Inge Røkke paid the next-largest amount, on a much bigger net worth but listing zero in actual income. Mohn paid NOK 135.55 million (nearly USD 21 million) in taxes to […]

New restrictions limit tax snooping

Norwegian tax authorities publicly released the country’ so-called “tax lists” on Friday, revealing what every single taxpayer in the country reported as their taxable income, net worth and how much tax they paid last year. Some have equated the practice to “having your pay slip hung up in the company canteen,” but this year the authorities introduced […]

Chess Olympiad forced into bankruptcy

Norway’s Chess Olympiad, which played out in the northern city of Tromsø last August, faced several problems including legal challenges from the international chess federation, a rowdy federation election and the deaths of two players, apparently from stress. Norwegian Chess Champion Magnus Carlsen didn’t perform well, either, and now the organization behind the event is being […]

Statoil’s CEO quits to take new job

Statoil boss Helge Lund on board the drilling rig "Ocean Vanguard" last month. He has little understanding for those who want to reduce drilling on the Norwegian continental shelf. PHOTO: Statoil/Øyvind  Hagen

UPDATED: Helge Lund, who has led Norway’s largest company Statoil for the past decade, abruptly left his post on Wednesday to take over as boss of BG Group (formerly British Gas). Lund’s resignation was voluntary, and Statoil’s board immediately appointed his successor. “I could have continued for a period, but there is a time for everything,” said […]

Huge new oil find as firms cut jobs

Lundin, a privately owned Swedish oil company, has been active in Norwegian waters in recent years. PHOTO: Lundin Petroleum

Oil company Lundin Petroleum announced a huge new oil and gas discovery  in the Barents Sea on Tuesday that renewed hopes for the oil industry and the economy of Northern Norway. The discovery comes just as many companies have been cutting jobs because of low oil and gas prices and earlier drilling disappointments. “This is a […]

New power cables abroad ‘will boost prices at home’

An announcement on Monday that state power network operator Statnett has won approval to build new electricity cables to Germany and the UK means electricity prices in Norway are likely to rise, according to analysts. The government, however, thinks the new undersea cables will make better use of Norway’s power system. Norway’s possibilities for exporting electricity […]

Population growth turns towns into cities

The constant influx of new residents to the Oslo area, already the fastest-growing metropolitan area in Europe, will turn neighbouring small towns into regional cities, according to plans proposed by top politicians in Oslo and Akershus counties. Newspaper Aftenposten reported over the weekend that towns targeted include Ås, a rural community south of Oslo that’s […]

Conference lands Haakon in trouble

Crown Prince Haakon, who is celebrating his 40th birthday this weekend, managed to avoid a traffic fine in California in May. PHOTO: kongehuset.no

UPDATED: Crown Prince Haakon, heir to the Norwegian throne, has been accused of overstepping the bounds of his mostly ceremonial role and ignoring his political neutrality. His decision to arrange a conference that questions both business and tax policies has even led to calls for his abdication, but the monarch-to-be seems to have no regrets . “By arranging […]

Government geared for budget debate

Progress Party leader Siv Jensen, now Norway's finance minister, wants to get a grip on easing sales restrictions at the state wine and liquor monopoly, Vinmonopolet. PHOTO: Fremskrittspartiet

NEWS ANALYSIS: Finance Minister Siv Jensen was ready on Wednesday to roll out her first state budget to Parliament on behalf of Norway’s still-new conservative government. Leaks have been few, but the budget is bound to give the Members of Parliament a lot to argue about throughout the autumn, not least looming tax breaks. That’s what […]