Huge suit against DNB can proceed

Norway’s consumer council (Forbrukerrådet) won a green light on Friday to move foward with a massive class-action lawsuit against Norway’s biggest bank, DNB. The council, on behalf of DNB customers, is demanding that the highly profitable state-controlled bank refund NOK 690 million in fees charged on its investment funds. “We are happy and relieved,” Jorge Jensen, […]

Climate law passed as more oil urged

Despite all the concerns about the climate and carbon emissions, the International Energy Agency (IEA) urged Norway this week to keep expanding its offshore oil and gas exploration and production. Norway’s state-owned oil company Statoil, meanwhile, has cut carbon emissions by 80,000 tons, and Parliament agreed Friday to cut all emissions in Norway by 40 […]

Trawler freed from arrest in Russia

A Norwegian trawler held in Murmansk for allegedly catching shrimp illegally in Russian waters was finally sailing home on Friday. The vessel Remøy was released from three weeks in custody after Norwegian and Russian officials came to terms over what amounted to a clerical error. The drama was set off because Norwegian fishing officials had failed to check off a […]

Norway defies US’ climate withdrawal

Disappointment and no small portion of defiance were characterizing Norwegian officials’ reaction to US President Donald Trump’s confirmation that he was pulling the US out of the UN agreement aimed at halting climate change. Now Norway, which worked hard to help get the agreement ratified in Paris 18 months ago, will view the EU and China […]

Home prices cool, ‘but not enough’

Norway’s notoriously high housing prices, especially in the Oslo area, are showing signs of flattening out in the midst of an unprecedented homebuilding boom. That’s expected to further cool off the red-hot real estate market of the past several years, but experts warn it’s still way too expensive for far too many to buy a […]

Farmers win more subsidy, protection

Norwegian farmers have proven themselves once again to be among the most powerful political lobbyists in the country. Now they have succeeded in blocking government efforts to reform agriculture and limit their subsidies, by gaining support from opposition parties and even the government’s own two support parties in an election year. After weeks of noisy protests […]

Ministers agree to fight illegal fishing

National fisheries ministers from all over the world were in Oslo this week to unify in the fight against illegal fishing, estimated to be worth more than NOK 190 billion a year. Norway has played an active role in getting an agreement against illegal, unregistered and unreporting fishing into place. “Illegal fishing poses a threat to […]

Cash survives, in new updated style

Serious, official efforts to turn Norway into a cashless society have been put on ice, just in time for the country’s central bank to roll out its much-hyped new currency in updated syle. Norges Bank has been making it clear that Norwegian currency will remain legal tender, despite tax authorities’ and some politicians’ efforts to do […]

Trawler remains trapped in Murmansk

The Norwegian owner of the fishing trawler Remøy has called its arrest in Murmansk and the subsequent idling of its crew “surreal,” and they refuse to pay around EUR 9 million for its release. The vessel was still stuck in the Northern Russian port city this week after it was seized on May 11. Russian […]

Business schools win spots on new list

The Economist magazine has ranked master’s degree programs in management for the first time, and both of Norway’s major business schools won spots in the Top 40. Norwegian business school BI was ranked as best in the Nordic countries. News bureau NTB reported that the Bergen-based business school NHH (Norges Handels Høyskole) also did well, ranking […]