Pay gap persists between men and women

Women in Norway continue to earn just 86 percent of what men in Norway take home in terms of average monthly earnings. The latest figures from 2016, compiled by statistics bureau SSB, indicate that the pay gap has narrowed, however, and pay growth for women has been a bit higher than for men since 2000. […]

Aker Solutions wins new Statoil contracts

Aker Solutions emerged as the first big winner this week of contracts tied to development of Statoil’s long-delayed oil field Johan Castberg off the coast of Northern Norway. Aker Solutions, controlled by industrialist Kjell Inge Røkke, will deliver the subsea system to the field and design the top deck of the floating production and storage […]

Oil minister feels some heat

Norway’s Oil & Energy Minister Terje Søviknes may well be looking forward to some time off during the Christmas holidays. In the past few months he’s been under pressure on a variety of fronts, not long after a fall that left him on crutches. It hasn’t been the best of times for Søviknes, whose Progress […]

‘Crazy,’ but the oil will keep gushing

NEWS ANALYSIS: It’s been less than two weeks since a major lawsuit popularly called “The People vs Arctic Oil” drew to a close in Oslo. Statoil didn’t wait for a verdict to move forward on Tuesday with more Arctic oil development that environmentalists promptly called “crazy.” As Norway’s oil minister also moved to open new […]

Krone falls further against the dollar

It cost as much as NOK 8.32 to buy one US dollar on Monday, after the Norwegian krone fell to its weakest point since the finance crisis. Higher oil prices are no longer enough to keep the oil-producing country’s currency strong. The krone has been weak all autum and especially the past few weeks. Analysts […]

Oil Fund targets tax dodgers in portfolio

Norway’s enormous sovereign wealth fund known as the Oil Fund is once again flexing its financial muscle around the world, pouncing this time on companies like Nike and Apple. It dislikes how such multi-nationals in which it invests have been avoiding taxes in countries where they do business, even when the practice is legal. Oslo […]

Housing prices keep sliding, debt rising

State financial authorities at Finanstilsynet report that housing prices are likely to keep falling through 2018 before they start rising again. Prices have fallen more than 10 percent in Oslo since April. “This is a natural chill in the market after the strong price growth we had last year,” said Morten Baltzersen, director of Finanstilsynet, […]

Exam crashed for 2,700 students

The computer system at Norwegian business school BI crashed when 2,700 logged in at the same time to take a scheduled exam on Wednesday. After weeks of studying and preparation, the exam was effectively cancelled. The problem affected BI’s operations in Oslo, Bergen, Troundheim and Stavanger. At precisely 1pm, the students in economics sat in […]

Statoil takes over troubled Total oil field

French oil company Total has become the latest foreign firm to cut back in the Norwegian sector of the North Sea. Norway’s state-controlled oil company Statoil is taking over Total’s ownership stakes in the troubled Martin Linge project and the Garantiana oil discovery. “We have concluded that we can handle the risks that lie in […]

Lobbyists target new cut-rate hair-cutter

Lobbying forces led by Norway’s national employers’ organization NHO are promoting new regulations that could snarl the business plan of the cut-rate hair-cutting chain called Cutters. NHO usually supports innovative business ventures like Cutters, but the popular and fast-growing chain poses new competition for the full-service and much more expensive hair salon branch that NHO represents. The […]