Krone expected to rise against dollar

Norway’s central bank refrained once again from raising interest rates on Thursday but now states that it’s “likely” to do so in September. That in turn can boost the value of the country’s currency, the krone, which already is expected to strengthen significantly against the US dollar next year. Newspaper Dagens Næringsliv (DN) was even […]

Telenor hit with enormous fine

Norway’s top state competition regulator slapped leading telecoms firm Telenor, which remains majority-owned by the Norwegian state, with a fine of NOK 788 million (USD 97 million) on Thursday. The authorities claim Telenor abused its market power by preventing competitors from establishing a third mobile phone network in Norway. Telenor disagrees and is expected to […]

Jensen keeps mortgage rules strict

Finance Minister Siv Jensen has decided to extend some strict mortgage rules imposed last year on capital requirements and fewer tax breaks for investors. The goal is to keep speculators from driving up real estate prices in an already hot housing market. Analyses from financial authorities and the central bank show that the rules imposed […]

Norwegian takeover can threaten SAS

Norwegian Air founder and CEO Bjørn Kjos remains keen to hang on to the airline he’s nurtured over the past 15 years. A possible takeover by Lufthansa, however, would likely hurt Norwegian Air’s main rival, Scandinavian Airlines (SAS), while also creating a new giant low-fare carrier in Europe. Shares in Norwegian Air Shuttle (NAS) remained […]

Now Lufthansa is eyeing Norwegian

UPDATED: Stock in Oslo-based Norwegian Air was taking off once again on Monday, after Lufthansa said it was evaluating a possible takeover of Norwegian Air. Norwegian Air’s founder and boss Bjørn Kjos confirmed he’s had direct contact with his counterpart at Lufthansa over “interest” that can pit the giant German carrier against the Spanish and […]

Huge new contracts fuel the oil industry

Just two weeks after a huge new drilling rig for Norway’s state-owned oil company was completed and towed away from Aibel’s yard in Haugesund, Equinor (formerly Statoil) was busy handing out billions of kroner worth of more contracts. The new wave of work for the oil service business confirms that Norway’s oil age is far […]

Oslo still expensive in world rankings

The latest survey of the world’s most expensive cities for companies sending employees abroad places Oslo in ninth place, and Stavanger in 12th. Copenhagen was the only other Scandinavian city to hit the list of the 20 most expensive cities in which to live. The survey, compiled by consulting and advisory firm ECA International, calculates […]

IAG boss still wants Norwegian

Shares in Norwegian Air jumped again after the chief executive of International Airlines Group (IAG) said he still wants to buy the Oslo-based airline. Willie Walsh claimed he remained “open-minded” about Norwegian, sending stock in its parent company Norwegian Air Shuttle (NAS) up both on Thursday and again on Friday. NAS still isn’t trading anywhere […]

More expansion at OSL Gardermoen

Norway’s gateway airport, OSL Gardermoen, is calling in construction crews again. Just a year after opening its new terminal, airport officials see a need to expand the eastern pier that handles flights bound for destinations outside the so-called “Schengen area” of Europe. “Traffic to and from countries outside Schengen has shown considerably larger growth than […]

Conventional phones phased out

Norwegian telecoms firm Telenor has begun phasing out permanent land-line telephones around the country that aren’t run through fiber cables. The vast majority of Norwegians have moved on to mobile phones and rid themselves of conventional phones already. “In 2001 we had around 2 million land-line customers,” Arne Quist Christensen of Telenor told website Nettavisen. […]