Housing prices shoot up yet again

Oslo keeps growing, but now more work immigrants are heading for western Norway where job prospects are better. PHOTO: newsinenglish.no

As Norway’s residential real estate market continues to boom despite the country’s recent economic slowdown, nowhere is price growth higher than in the capital of Oslo. Demand is so high that average prices in September were up 20 percent in three east-side neighbourhoods. Economists don’t think the government went far enough in addressing the price […]

Budget blasted as not ‘green enough’

Liberal Party leader Trine Skei Grande shared her dream of a new government coalition over the weekend that would have the Liberals replacing the Progress Party. It was quickly shattered. PHOTO: Venstre/Jo Straube

Norway’s conservative minority government was immediately attacked after rolling out its new state budget for 2017. Government ministers were once again accused of “greenwashing” the budget, and the leader of one of their support parties in Parliament said she couldn’t back it without major changes. Liberal Party leader Trine Skei Grande had already demanded “the greenest budget […]

Oil fuels a New Deal for Norway

Finance Minister Siv Jensen presenting the government's state budget proposal for 2017 in Parliament on Thursday. Once again, Norwegian Broadcasting (NRK) carried it live on national television. PHOTO: NRK screen grab/newsinenglish.n

Norway’s Finance Minister Siv Jensen unveiled what she called a “responsible” state budget for 2017 on Thursday “that will steer us through a demanding time.” It calls for pulling more money than ever before out of the country’s huge Oil Fund, to pump up spending on measures aimed mostly at preserving and creating new jobs. “We are fortunate, […]

Highlights of the proposed state budget

Norway’s state budget is considered the country’s most important document in terms of steering Norwegian politics and the country’s economy. Its formal presentation by the government in power, just after the ceremonial opening of Parliament, stirs enormous interest and media hype every year, and means a lot for everyone living and working in Norway. This year’s […]

Brokers busy as ‘hytte’ sales boom

Kroderen in background / eie.no

With the sun shining brilliantly and most schools closed this week for the annual autumn holidays, thousands of Norwegians have flocked to their cabins known as “hytter.” In another sign of economic optimism, they’re also buying and selling such vacation properties like mad, with brokers reporting the strongest sales and highest prices ever. Christian Haatuft, a real […]

US Embassy building to be preserved

The US Embassy building in Oslo will be vacated early next year and put up for sale, but it will be subject to historic preservation orders. PHOTO: newsinenglish.no

The US government plans to sell the embassy building it’s occupied across from Norway’s Royal Palace since 1959, when its new, larger and more secure embassy compound finally opens after New Year. City officials in Oslo are already signaling, however, that the building itself will be placed under historic preservation orders. “It’s only when the […]

Better numbers can cheer government

The price of a barrel of Norway's North Sea crude oil broke through the USD 50 mark this week, as displayed here in the window of an Oslo energy firm. It kept rising, passing USD 51 on Tuesday, and that's good news for the Norwegian economy as it recovers from the oil price dive two years ago. PHOTO: newsinenglish.no

As the price of Norway’s crude oil broke through the USD 50 mark this week, the value of the country’s currency also rose. Finance Minister Siv Jensen woke up Wednesday morning to some disappointing public opinion poll results, but can be cheered by other important numbers that back up predictions of economic recovery and suggest […]

State ensures development of new gas field

After some skeptical oil companies gave up plans to develop Norway’s Dvalin gas field in the Norwegian Sea, Norway’s state-owned oil company Petoro stepped in to make the investment and do the work, reports newspaper Dagens Næringsliv (DN). Petoro, which runs the state’s own offshore oil interests, thus saved the development that Oil & Energy Minister […]

Norwegian Air cancels flights again

Norway’s autumn holiday week got off to a bad start for those hoping to take off with Norwegian Air over the weekend. The airline cancelled four flights on Saturday to two of holidaymakers’ most popular destinations, Alicante and Malaga in Spain. The airline, which had a wave of cancellations right when the summer holidays were […]

Fuel taxes spark new budget battle

The biggest  confusion is over what will happen with plans to expand the E18 highway west of Oslo. PHOTO: Arbeiderpartiet

Norway’s minority government coalition is poised for yet another battle over the state budget in Parliament, also with its two support parties. This time the battle will be over fuel taxes and the costs of driving, with the conservative government parties proposing a non-negotiable overall decrease that’s not likely to satisfy either the Liberals or the Christian […]