Telenor admits to weak management

Telenor's new CEO seems eager to clean up the mess created by Telenor's investment in VimpelCom, and VimpelCom's expansion into Uzbekistan, which has prompted a major corruption investigation. PHOTO: Telenor

Large Norwegian telecoms firm Telenor was back in the media glare on Friday, after an internal investigation into its handling of possible corruption revealed some serious management “weaknesses.” Telenor has shared its findings with government officials and state economic crime unit Økokrim, and two top executives who were suspended last fall have been terminated. Telenor announced Friday morning […]

Tax crunch time as deadline looms

Finance Minister Siv Jensen (left) and state Tax Director Hans Christian Holte look over the new electronic Business Tax Return with Grethe Holterhuset, who helped launch the latest attempt at tax simplification in Norway. PHOTO: Thomas Brun/NTB

Hundreds of thousands of Norwegians are likely to be devoting at least part of this weekend to the annual ritual of filing their income tax forms by midnight April 30. It’s become so electronically easy, though, that tax officials worry too many taxpayers aren’t bothering to check their returns at all. Tax forms in Norway have become increasingly automated in […]

Unemployment rate steady at 4.6 percent

Norways’s state statistics bureau SSB (Statistics Norway) announced a seasonally adjusted unemployment rate on Thursday of 4.6 percent for February. SSB’s numbers showed that around 130,000 people are now wholly without work, roughly the same as in November of last year. State broadcaster NRK reported that the unemployment rate thus appears to have stabilized, after a […]

DNB’s board still under scrutiny

PHOTO: newsinenglish.no

The much-criticized board of Norway’s biggest bank, DNB, survived at least one shareholder’s attempt that it be all but overthrown this week. Both board leader Anne Carine Tanum and four other members were re-elected, but only pending the results of investigations into whether the board has shirked its responsibilities. At issue is DNB’s highly controversial operations […]

Billionaire family active in tax havens

One of Norway’s most prominent families, with a fortune built on shipowning and shipping operations, reportedly has set up no less than 42 companies in tax havens. Leif Ø Høegh, speaking on behalf of the Høegh family, claims there have been no attempts, however, to hide family fortunes from tax collectors. “It’s clear that that we’re […]

Tesla has trouble paying its bills

Tesla founder Elon Musk posed with Norwegian Transport Minister Ketil Solvik-Olsen at a transport industry conference in Oslo just last week. Musk is also the man behind the successful PayPal online bill-paying service, but now his electric car dealership in Norway is having trouble paying its bills. PHOTO: Samferdselsdepartementet

Last week, the founder of the highly successful electric car company Tesla Motors was posing with government officials in Norway. This week comes news that Tesla Motors’ unpaid bills in Norway have exceeded NOK 2 million (USD 249,000), and that it’s been saddled with a very poor credit rating. The Norwegian automobile news website Bilnytt.no reports that […]

Profits predictably plunged at Statoil

PHOTO: Statoil/Harald Pettersen

Norway’s largest company Statoil, battered by the fall in oil and gas prices, saw profits plummet once again during the first three months of this year. They were down by more than two-thirds, but not much worse than analysts had expected and the company is making more moves to diversify into renewable energy. Statoil reported […]

Soap factory down the drain in Kristiansund

More than 100 years of making soap in Kristiansund were washed down the drain on Tuesday, when the board of the Lilleborg cleaning products unit of industrial firm Orkla decided to shut down its Ello factory in the city on Norway’s northwest coast. Around 60 people will lose their jobs when production of Ello’s soap brands such […]

Farmers gear up for a new fight

Norway's small farms and rural landscapes are attractive but expensive to maintain, with taxpayers and consumers paying high prices to support local agriculture. PHOTO: Views and News

Norwegian farmers were preparing for another fight with the government this spring over how much subsidy and protection they can continue to receive. The farmers are also angry over a government proposal to allow more small farms to be sold off as holiday properties, instead of restricting them to full-time residents who’ll work their land. The farmers’ two […]

Hotel strike set to spread on Saturday

Norway’s biggest trade union federation, LO, vowed on Monday to support a strike by hotel and restaurant workers in Norway, with labour officials accusing the employers’ organization of “cynical” methods of trying to force a settlement. The strike is set to spread on Saturday morning, with nearly 2,500 more workers to be taken off the […]