SAS’ losses delay new routes

Scandinavian Airlines (SAS), which reported another round of heavy losses this week, probably won’t be introducing new long-haul flights from Norway during the next year as planned. Cutbacks are now expected to delay any new non-stop flights to the US by at least a year. Newspaper Aftenposten reported that new routes, due to be announced […]

Oslo Stock Exchange rebounded

After weeks of turbulence caused by falling oil prices, falling interest rates and a dive in the value of the krone, Norwegian shares rallied on the Oslo Stock Exchange Thursday. Trading settled down on Friday, but investors gave the exchange a welcome boost near the end of the week. Thursday ended as the best single […]

Norway’s tallest building may rise at Fornebu

Industrial firm Aker and its owner, Norwegian tycoon Kjell Inge Røkke, have proposed construction of Norway’s tallest building at Fornebu, the area west of Oslo that formerly housed the capital’s airport. Fornebu has since has been converted into a commercial, residential and recreational center, and Aker wants to crown it with a 40-story multi-use tower. Local […]

Norway can win on its weaker krone

Officials at biochemical producer Borregaard have reason to smile, as the company profits on Norway's weaker krone. Here, they were celebrating the opening of a new addition to its biogas factory last week. PHOTO: Borregaard

Norway’s oil sector may be slumping along with oil prices, but lots of other Norwegian companies are benefiting from the recent plunge in the value of the country’s currency, the krone. All the talk of an economic slowdown after years of unprecedented prosperity may also renew the fortune of the country’s conservative minority government. The […]

Pilots warn skies becoming unsafe

PHOTO: Samferdselsdepartementet/Olav Heggø

A group of pilots protested in front of Norway’s Parliament this week, demanding a return to more airline regulation. They fear that a trend allowing airlines to avoid national labour laws and employer taxes can ultimately result in serious airline accidents. “Developments in the airline industry have now reached a point where it’s necessary to sound the […]

‘Still no crisis’ as krone falls again

200 krone bill

Norway’s krone plunged on Tuesday, a day that currency brokers were referring to as “historic” for Norwegian exchange rates. The dive was blamed on another fall in oil prices, but economists at Norway’s biggest bank claimed the country’s economy remains far from any crisis. The day was nonetheless dramatic for currency traders. “We are seeing a massive weakening of […]

Oil sector cutbacks hit hotels

Hotel room revenues fell by 22.4 percent in Stavanger last month. Norway’s oil capital has been experiencing an increase in hotel capacity just as diving oil prices spur cutbacks in the oil business that makes up the hotels’ biggest market. Newspaper Dagens Næringsliv (DN) reported that hotel room capacity in the Stavanger region has grown by 18 […]

Platou millionaire faces charges over au pair contracts

A wealthy Norwegian businessman who reportedly has a fortune of at least NOK 148 million (around USD 20 million) has been charged by police for supplying authorities with incorrect information regarding contracts for two au pairs from the Philippines who were working in his home. Newspaper Dagens Næringsliv (DN) reported they were paid the equivalent of NOK 41 (USD […]

Fur industry set to get another chance

Conditions for animals at Norwegian fur farms have been hotly debated. PHOTO: Nettverk for dyrs frihet & Dyrebeskyttelsen Norge

A government commission that’s been studying Norway’s controversial fur industry recommends developing it in a “sustainable” manner, instead of shutting it down. The commission handed over a report on Monday that defies a majority in Parliament that wants the government to consider phasing out the industry entirely. Late last week, a majority in Parliament voted […]

Spies drawn by Norway’s wealth

Housing construction continued through the winter, but most of the new units built in Oslo are small urban apartments in high-priced areas like here at Tjuvholmen. Demand is high for row houses and affordable single-family homes, especially for young buyers with children. PHOTO: Views and News

Norway’s emergence as a wealthy country, with one of the biggest and most powerful investment funds in the world, is being cited as one of the reasons that spies are targeting Norwegian government and business leaders. More reports on Monday of advanced spying equipment detected in and around Oslo puts Norway on the list of countries […]