‘Hytte’ sales pick up with economy

Norwegians still love having a hytte, their own holiday cottage in the mountains or by the sea, and prices are picking up. A sure sign of the current winter holidays in Norway have been all the ads for vacation properties with ski trails nearby. “All signs are pointing upwards in our market, and have been […]

Bribery indictments hit Tine, Tetra Pak

A long-time purchasing director for Norway’s dominant dairy cooperative, Tine, has been indicted on charges he knowingly accepted bribes and then tried to hide it from the rest of Tine’s management. He now must defend himself against charges of aggravated corruption. An official of the packaging firm Tetra Pak Norge, which supplies drink cartons to […]

Police raided brokerage firm

Investigators from Norway’s economic crimes unit Økokrim have raided the offices of brokerage firm Nordic Securities in Oslo and Bergen, and charged several people working for the firm. They acted after state financial authority Finanstilsynet filed a complaint, and arrests were made last week. Newspaper Dagens Næringsliv (DN) reported Wednesday that authorities claim the brokerage firm […]

Ski resort to demand use of helmets

The Hovden Alpinsenter ski resort in the mountains of Southern Norway is set to become the first in the country to require use of helmets on its downhill slopes. Insurance companies are rejoicing and hope other alpine resport make helmets mandatory, too. “We’re doing this because we see that helmets are very important as a […]

Postal service profits on service cuts

Norway’s postal service (Posten Norge) is a shadow of its former self, after a wave of post office closures and major cuts in delivery service. It is, however, earning money. Posten reported pre-tax profits last week of NOK 248 million in the fourth quarter, compared to a loss of NOK 167 million in the same […]

OSL Gardermoen sets a new record

Oslo’s main airport at Gardermoen, OSL, opened expanded terminals last year and they’ve been well used already. Airport officials reported over the weekend that traffic through OSL last year set another record. A total of 27 million people traveled through OSL in 2017, an increase of 1.6 million from 2016. Those traveling to and from […]

Oslo wins another Michelin star

Not only are Norwegian athletes raking in honours at the Winter Olympics, the country’s chefs are doing rather well, too. When the Michelin Guide handed out its stars on Monday, all five of Norway’s winners kept theirs while a new Oslo restaurant won one, too. Björn Svensson stuck again. The formerly Swedish chef who landed […]

Expansion looms for former Olympic ski resorts 

Investors have big plans for the two Norwegian ski resorts Hafjell and Kvitfjell. The new owners claim it will represent the biggest investment since both were first developed for the Olympics at Lillehammer in 1994. Newspaper Dagens Næringsliv (DN) reported that state-owned Investinor sold its 49 percent stake in Alpinco, the company that owns and […]

Stock market slide hits the Oil Fund

Norway’s central bank (Norges Bank) once again gathered 300 of the country’s most powerful people Thursday night, to listen to its chief’s annual perspectives on the economy. Øystein Olsen warned that recent declines in stock markets around the world can weaken Norway’s enormous piggy bank known as the Oil Fund. What goes up must come […]

Loss sends Norwegian Air shares into a dive

Shares in Norwegian Air were crashing on the Oslo Stock Exchange Thursday after the airline reported a large loss for the fourth quarter that was nearly double what analysts had expected. Newspaper Dagens Næringsliv (DN) reported that a poll of eight analysts had predicted a loss of between NOK 600 million and NOK 1 billion. […]