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Wednesday, April 24, 2024

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New restart for Norway’s government

NEWS ANALYSIS: Norwegian Prime Minister Jonas Gahr Støre had to replace more of his ministers this week, after yet another one let him down. He clearly hopes his new line-up can remain intact until next year's national election, which...

‘Krone’ weakens again but Norway secures its use for cash payments

The value of Norway's historically weak krone sank again heading into the weekend, but Norwegians have at least been assured of legally being able to spend their kroner in cash form. Despite the government's constant push towards digitalization, it's...

Frustrated farmers roared into town

NEWS ANALYSIS: Norway should have avoided noisy demonstrations by angry farmers like those seen around Europe this spring, since one of the country's most farmer-friendly parties shares government power. Sloppy politics and endless demands by farmers already wallowing in...

Labour union leader claims ‘big victory’

After months of heated debate over record-high executive compensation and an unwillingness to share company profits with workers, Norwegian union leaders have been fighting back. They scored what's being called "a big victory" on Sunday, after industrial employers finally...

Surprise jump in housing prices

Real estate officials seemed as surprised as everyone else, when they analyzed new average prices for March and found them to be up by 5.9 percent over the same month last year. More potential buyers have also been turning...

New car sales crash

Sales of new cars in Norway last month were down 50 percent from March of last year, sinking to their lowest level in 15 years.  Only 9,750 new cars were registered nationwide, down from around 19,000 in March 2023. "New...

Norway’s currency weakens again

UPDATED: The value of Norway's currency, the krone, fell once again at the end of the country's long Easter holiday. The latest decline came on Monday, when financial markets remained open in most of the rest of the world,...

Housing market waits for rate relief

Homeowners trying to sell their homes may need to be even more patient, after Norway's central bank decided against lowering interest rates any time soon. Most economists think rates have topped out, but rate relief isn't expected until the...

Sharper ‘exit tax’ draws both praise and complaints

Norway's left-center government is trying to crack down on wealthy Norwegians who move abroad mostly to avoid the country's controversial annual tax on net worth. Anyone relocating to Switzerland or other countries with a lower tax burden will now...

Inflation down but outlook unclear

Economists have been speculating for weeks over whether interest rates will rise or fall during the next several months. Norway's inflation rate has eased, but it remains more than twice what the central bank wants and the krone is...

New trade deal with India draws cheers

Norway's national employers' organization NHO was jubilant after the government announced a new trade deal with India over the weekend. It will mostly eliminate customs duty on Norwegian exports over the next five to nine years. India will also...

Salmon death toll spikes at fish farms

Norway's Institute of Marine Research has reported a dismal and "dizzying" number of salmon that died at Norwegian fish farms last year: 65 million. That's up 27 percent from the year before. "It's a very high number, almost dizzying," researcher...

‘Housing market is back,’ maybe

Real estate market analysts were surprised when new figures for January home sales showed an unusually high rise in average prices. That sparked new optimism, but the number of actual sales declined. The nationwide average for prices was up 3.4...

Fish farming fouls fjords, and now faces fines

NEWS ANALYSIS: Norway's huge fish-farming industry has become almost as controversial as the country's oil and gas. Salmon producers in particular have long been accused of endangering wild salmon, but now Norwegian media have also reported how some fish...

Interest rates stable, for now

Norway's central bank opted against raising its key policy rate on Thursday, even though inflation is still high and the country's currency, the krone, remains historically weak. The krone has nonetheless strengthened by more than expected in recent weeks,...
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