Labour defiant as economy recovers

Labour Party leader Jonas Gahr Støre is currently doing well in the polls, even though it's harder for him to find fault with the current conservative government coalition's economic policies. PHOTO: Arbeiderpartiet

NEWS ANALYSIS: Thursday’s decision by Norway’s central bank to scrap another interest rate cut illustrates how the country is recovering from the economic shock of lower oil prices. The recovery is arguably not good for Jonas Gahr Støre’s opposition Labour Party, which is constantly trying to find fault with the conservative government’s expansive economic policies that seem […]

Fredriksen still the richest Norwegian

John Fredriksen

He doesn’t officially live in Norway anymore, but legendary shipowner John Fredriksen remains the country’s richest man, according to the annual list of wealthy Norwegians compiled by magazine Kapital. Fredriksen, now age 72, was listed as having a net worth of around NOK 92 billion (USD 11.3 billion). Fredriksen, who started out as an errand […]

Airlines also charge more for flights bought abroad

Both Scandinavian Airlines (SAS) and Norwegian Air charge passengers on flights originating in the US more than they do on flights originating in Norway. The practice of “price optimalization” isn’t unique to the popular Norwegian shipping line Hurtigruten after all. Norwegian Broadcasting (NRK) reported last week how it can be much cheaper to buy Hurtigruten […]

Still no change in key interest rate

Norway's currency, the "krone," was being "blown in all directions" again this week, but likely in a weaker direction. PHOTO: newsinenglish.no

Norway’s central bank (Norges Bank) seemed to follow the advice of a vast majority of local economists on Thursday in deciding to keep its key policy rate unchanged at 0.5 percent. The bank’s governor also suggested the rate was likely to remain steady, downplaying early predictions of another decline to stimulate the economy or even an increase to curb […]

Tesla owners sue over lack of horsepower

More than a hundred Norwegian owners of the Tesla Model S P85D are suing the producer of the popular electric car. They’re seeking an upgrade of their cars instead of any rebate. “The car is great,” Tesla owner Frode Fleten Jacobsen told newspaper Dagens Næringsliv (DN). “It’s just that I was tricked into paying extra […]

Oil workers strike over ‘dirty deal’

Commuting by helicopter is part of life for offshore oil workers, like disembarking here from a flight to Statoil's Snorre A platform in the North Sea. PHOTO: Statoil/Harald Pettersen

More than 300 offshore oil service workers were called out on strike Wednesday, amidst reports that nearly 38,745 jobs in their sector have disappeared in the past two years. The workers’ union nonetheless deemed a strike necessary, claiming they couldn’t accept “a dirty deal” offered by employers’ organization Norsk Olje og Gass. The tone between […]

Oil minister must explain himself

PHOTO: EBM/OED

The leader of the one of the Norwegian coalition government’s own support parties is demanding an explanation on the floor of Parliament from Oil Minister Tord Lien, over how the waters off Lofoten, Bjørnøya and Møre wound up in the government’s controversial 24th oil exploration licensing round. Lien has claimed it was simply a mistake […]

Another 300 workers idled in the oil industry

Aker Solutions is furloughing another 100 employees, while rival FMC Technologies is also letting go 200 of its workers in its subsea service operations. The reason, as with earlier layoffs, is the slowdown in offshore activity following the dive in oil prices. Both companies cited a seasonal slowdown as well, with little activity after the summer months. Aker, […]

Tourists pay more on Hurtigruten

The Hurtigruten vessel "MS Richard With" is a sistership of the stricken "MS Nordlys," but hasn't been taken out of service. PHOTO: Hurtigruten

Officials at Norway’s famed coastal voyage Hurtigruten were being hit by a wave of criticism on Monday over how they set their fares. Passengers from abroad have been charged much more than Norwegians, especially those buying tickets shortly before departure, and tourism experts fear the practice will worsen Norway’s reputation for high prices. It took a couple […]

Fishing boats haul in unusual catches

There’s been some unusual fish swimming in Norwegian waters lately, and fishing boats off both the southern and northwestern ends of the country reported some unique catches this past week. Newspaper Firda and Norwegian Broadcasting (NRK) told the ultimate “big fish” story on Monday for Tore Hillersøy and his crew off the coast of Ålesund. They […]