Record numbers reveal hidden fortunes

More than 500 Norwegians admitted to tax authorities last year that they had stashed fortunes abroad, to avoid Norway’s controversial tax on net worth. The value of their overseas holdings was nearly double that reported in 2015. Tax authorities, in an effort to prod Norwegians into revealing overseas bank accounts and other assets, have had an amnesty program […]

Labour downplays EU membership

Norway’s Labour Party, which has long favoured membership in the European Union (EU), has struck a more neutral tone in its new party program rolled out this week. Labour’s leader, Jonas Gahr Støre, claims it’s only a sign of adapting to the times. The party, though, has been reaching out to centrist parties in the hopes of forming […]

Taxes can usher in sharing economy

A government-appointed commission has cleared the way for the sharing economy to spread in Norway, as long as new services like Airbnb lodging and Uber transport are taxed. The commission believes such services provide more competition and offer more choices for consumers, but labour unions and not least the taxi industry raised immediate objections. The commission’s report may, as newspaper Aftenposten […]

Strike averted among airport ground crews

Late-night negotiating during the weekend averted a strike by airline ground crews at four Norwegian airports. Flights were thus taking off as scheduled on Sunday, and both airlines and passengers were relieved. “It was tough but we had a good tone throughout it all,” negotiations chief Bente Ørberg of the workers’ union Junit told news bureau […]

Labour Party, LO support Color Line workers

Norway’s Labour Party and the country’s largest trade union confederation, LO, are backing demands by the Norwegian Seafarers’ Union that the government drop plans to let Color Line re-flag to the Norwegian International Ships Register (NIS). The move would allow Color Line to replace as many as 700 workers on board its cruise ferries Color […]

Stocks up, trade down with Trump

The so-called “Trump effect” is boosting some businesses in Norway, but troubling those involved in international trade who rely on long-term export income. The Oslo Stock Exchange has jumped since US real estate tycoon and showman Donald Trump became president, but his protectionist attitudes are also fueling the most trade uncertainty in years. Newspaper Dagens Næringsliv (DN) reports that […]

Rights sold to arthritis medicine

A Japanese pharmaceutical company has bought the rights to commercialize a new medicine developed by Norwegian researcher and doctor Anita Kåss that’s showed promising results in treating arthritis, rheumatism, psoriasis and MS.  The director of the hospital where Kåss works in Skien, Betanien, claimed the deal was the largest licensing agreement ever entered into by a […]

Rolls-Royce cutting staff again

Rolls-Royce’s marine division in Norway has offered all 1,650 of its employees severance pay packages if they volunteer to give up their jobs. It’s the first step in efforts to cut staffing because of poor market prospects. “We don’t see any immediate improvement in the market now,” Rolls-Royce’s resturcturing director, Jan Petter Hagen, told newspaper […]

Color Line sails into choppy seas

The Norwegian cruise-ferry company Color Line has run into some choppy seas over its own efforts to chop crewing costs. The government is offering to ease costly regulations by allowing two of Color Line’s vessels to switch flags to the more liberal Norwegian International Ships (NIS) Registry, but labour unions are complaining that as many as 700 workers on […]

Johaug clothing sales halted in Finland

Doping-charged skier Therese Johaug hasn’t only lost this season’s potential winnings on the ski trails, she’s also losing money on sales of her line of clothing. “In Norway, sales are still good, but we have chosen to pull out of Finland,” said Øystein Bråta, director of Nordic operations for Active Brands, which owns the Johaug […]