Warnings issued over interest rates

The folks working inside Norway's central bank, "Norges Bank," have decided to keep interest rates steady. PHOTO: Norges Bank

High debt levels in Norway combined with a sudden spike in interest rates could quickly hit the country’s economy harder than cutbacks in the oil industry have. Bankers, economists and financial planners warn Norwegians against being blind to the prospect, even though the central bank’s board is expected to keep rates stable at its next meeting on […]

Conflicts spread with hotel strike

Striking hotel workers aren't backing down from their demands for negotiations at the local level and for higher pay for their lowest-paid colleagues. PHOTO: newsinenglish.no

UPDATED: Tempers rose in line with the warm temperatures outdoors during the weekend, as the numbers of striking workers at Norwegian hotels expanded along with their accusations of alleged strike-busting. While tourism industry officials fretted over the strike’s effect on Norway’s reputation as a travel destination, other strikes also loom in the weeks ahead. The strike against hotels and […]

Statoil cuts oil production in Alberta as fire rages

Norwegian oil company Statoil has cut oil production at its controversial oil sands project in Alberta, Canada because of the massive forest fire raging in the nearby area. More than 80,000 people have been evacuted from the closest city, Fort McMurray, as the fire remained out of control. A Statoil spokesman told TV2 that its oil sands […]

Cruise calls decline in Oslo this summer

As summery weather settled over much of southern Norway during the weekend, it seemed only natural to see cruiseships sailing into Oslo as well. A total of 81 cruiseships are now expected to call at Oslo this summer, but that’s a sharp declne from recent years. News bureau NTB reported far fewer cruiseships will be tying up […]

No bus strike but more hotels hit

Bus fares may increase for senior citizens in the Oslo area, if Ruter follows the local cinema operator in doing away with discounts for retirees. PHOTO: Samferdselsdepartement/Olav Heggø/Fotovisjon

Negotiators for unions representing bus drivers and the organization representing their employers managed to avert a major strike on Thursday, after eight hours of overtime talks. There’s still no sign of settlement in the nationwide strike by hotel and restaurant workers, though, and it’s set to spread even more next week. A bus strike would have […]

State slashes farmers’ demands

PHOTO: Landbruks- og matdepartementet

Norway’s long-powerful farm lobby got another smack from the conservative government on Wednesday, and the mudslinging has begun. Farmers’ representatives accused the government of “actively reducing the ability to produce food in Norway,” while the government claimed its new offer of state support would still effectively give farmers much bigger pay raises than the vast majority […]

Statoil postpones helicopter cuts

Helicopter transport to offshore oil and gas installations like Statoil's  Gudrun platform continued to dominate the news in Norway on Wednesday, following Friday's fatal crash. PHOTO: Statoil/Harald Pettersen

Top executives at Norwegian oil company Statoil have responded to workers’ concerns and even fears over their helicopter transport to North Sea oil and gas fields. After Friday’s fatal crash of a helicopter near Bergen, Statoil has decided to delay implementation of proposed cutbacks in its helicopter program that were aimed at making it more […]

Parliament set to agree on tax reform

After years of political quarreling, Norway’s conservative minority government coalition has come to terms with the opposition in Parliament on more tax reform. The goal is to ease the tax burden on business, with the hope of creating more jobs, while taxpayers in general may also get some relief. News bureau NTB reported Wednesday that the government […]

Oil Fund may challenge high executive pay

Norway’s huge and powerful sovereign wealth fund may finally start wielding its investment clout to challenge the exhorbitant salaries paid to top corporate executives. It remains unclear, however, how many tens of millions of dollars or pounds an executive can be paid before the so-called Oil Fund votes against it. It was only a few weeks ago that […]

‘Dramatic’ cuts at TV2

Bosses at Norway’s national commercial television channel, TV2, feel forced to cut costs by NOK 350 million (USD 43 million), to cope with a rapidly changing media market. All employees will be offered severance packages. TV2’s chief executive Olav T Sandnes had claimed in December that “we will clearly define the positions we will win, what […]