AirAsia to take on Norwegian Air

Fresh from the success of being named the world's best low cost airline for the 6th consecutive year in the annual Skytrax World Airline Awards, AirAsia founder Tony Fernandes (centre) said he would take on Norwegian Air and begin budget Asia to Scandinavia routes. PHOTO: AirAsia

UPDATED: AirAsia, one of the world’s largest low-cost carriers and fastest growing airlines, announced on Wednesday it planned to operate long-haul flights from Bangkok to Scandinavia. It was a direct challenge to Norwegian Air, which on Thursday reported an operating loss instead of the expected profit in its quarterly report. AirAsia’s founder Tony Fernandes secured […]

Norwegians spend billions on holiday

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Travel-happy Norwegians are spending nearly three times as much money on foreign holidays this year than they did just a decade ago. As international airline traffic literally soars from Norwegian airports, 25 percent of those traveling say they’ll spend more this year than last, when they collectively splurged around NOK 90 billion (USD 15 billion) […]

FpU weighs in on Sunday trading

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The Progress Party’s youth organization Fremskrittspartiets Ungdom (FpU) took aim at the food barons behind Norway’s grocery chains, accusing them of having ulterior motives and protecting their own interests in opposing wider Sunday trading. FpU leader Atle Simonsen said retail giants NorgesGruppen and Reitangruppen which own Norway’s largest supermarkets also own the convenience stores which […]

Teen hacker believed to have planned new attack

Police think that a 17-year-old Norwegian who last week pulled off one of the most massive cyber attacks in Norway ever was planning a new attack when they arrested him in his room at home in Bergen. His computer was seized to preserve evidence and his home raided. More than a half-dozen police investigators and […]

State faces losses on Aker Solutions

Industrialist Kjell Inge Røkke at his unusual press conference in 2009, when he mocked the state for challenging his Aker company's decision to sell a unit with risky assets to Aker Solutions. Five years later, Aker Solutions is having to take heavy losses on the assets. PHOTO: newsinenglish.no

A decision by Norway’s former left-center government to invest in offshore firm Aker Solutions, controlled by Labour Party  supporter and industrialist Kjell Inge Røkke, has ultimately led to losses. On Friday, Aker Solutions revealed what many had feared for years: Heavy write-downs tied to its troubled unit Aker Oilfield Services that will likely result in a quarterly loss of around […]

‘Diaper mafia’ hits and runs to border

PHOTO: newsinenglish.no/Nina Berglund

Disposable diapers are one of the few items that are cheaper in Norway than in other countries, and that’s resulted in what some retailers claim is a rising trend of apparently organized raids on their supplies. They believe a “diaper mafia” is systematically buying up all their packages of diapers, and transporting them out of the country for […]

Teenager set off major cyber attack

A 17-year-old boy from Bergen on Norway’s west coast has been arrested and charged for a massive cyber attack earlier this week that crippled the websites of major banks, airlines, telecoms and finance firms. He had also impersonated the hacker group Anonymous Norway, claiming it was behind the attacks when it wasn’t. The teenager, who in […]

Profits shrink at ‘Moods of Norway’

Norwegian fashion retailer Moods of Norway continued to expand for the 10th year in a row last year, but none of its founders took out any dividends, reports newspaper Dagens Næringsliv (DN). That’s because profits fell more than 60 percent despite a 3.3 percent rise in revenues. DN reported that the retailer known for its […]

Local newspaper logs rare gains

At a time when the so-called “media crisis” is resulting in staff- and cost-cutting at newspapers all over Norway, one small local paper continues to do well and has handed out bonuses to all staff members. Hallingdølen, which serves readers in the mountain valley of Hallingdal, is bucking the trend and reaping the rewards of recognition last year. […]

DNB ‘most solid’ but shares suffered

Norway’s largest bank, DNB, has reported more huge profits in its second quarter and described itself as one of the world’s “most solid” banks. That didn’t stop investors from dumping shares, though, with the value of DNB’s stock diving 3.5 percent on Thursday. DNB’s shares were recovering on Friday, up 1.1 percent by midday, after analysts said […]