Norwegians earning less and spending more

Norwegians haven’t saved so little of their household income since 2010, according to new numbers compiled by state statistics bureau SSB (Statistics Norway). The numbers from the second quarter of this year worry economists. They indicate that Norwegian households only save 5 percent of their household income, down from 7.1 percent in the first quarter […]

Norwegian glaciers keep shrinking

A total of 326 square kilometers of Norwegian glaciers have disappeared during the past 30 years, according to new figures in a doctoral thesis delivered at the University of Oslo. The figures were compiled by its author and researcher Solveig Havstad Winswold at the university’s Institutt for geofag. Winswold studied maps published between 1947 and […]

Interests rates to remain low

Norway’s central bank board agreed once again on Thursday to leave its key policy rate at 0.5 percent. Interest rates haven’t been raised or lowered since March of last year, when there was a quarter-point reduction. Central bank boss Øystein Olsen said there was no need for any change right now, as Norway recovers from an […]

Oil Fund passes ‘new milestone’

Norway’s huge sovereign wealth fund known as the Oil Fund surpassed a market value of a trillion US dollars this week, at around 2am on Tuesday September 19 to be exact. It was the first time the fund hit the record level, and its chief executive allowed himself to be impressed. “I don’t think anyone […]

Probe launched into small plane crash

Aviation experts were continuing an investigation into what caused a small two-seater plane to crash into a field at Furnes in Ringsaker on Tuesday, just short of the runway at the Hamar airport. Both people on board were killed. Police received the first calls about the crash at 4:45pm. The plane was described as a […]

School ordered to refund students’ fees

A private communications school that overcharged tuition and landed in various other trouble was ordered on Wednesday to refund nearly NOK 30 million to former students. The crushing verdict against the former Westerdals School of Communication was handed down by the Oslo City Court. “All the students are overjoyed,” their representative Erling Løken Andersen told state broadcaster […]

Women win another World Cup qualifier

Norway’s women’s national football team seems to be on a new winning streak of sorts, rolling over Slovakia Tuesday night on home turf in Sarpsborg. The women beat Slovakia by a score of 6-1, even without their star player Ada Hegerberg. “I think we played a fantastic first half,” the women’s head coach Martin Sjögren […]

Norske Skog rescue plan wins some nods

Norwegian investor Christen Sveaas seemed to be getting a good reception for a rescue plan he and the board of Norske Skog presented for the troubled forest products company on Monday. His potential replacement as board leader, Sven Ombudstvedt, was positive. “In this proposal we have a little something for everyone,” Sveaas said when presenting […]

Authorities crack down on seatbelt avoidance

Bus passengers in Norway are being advised to buckle their seatbelts, especially this week when state authorities have warned they’ll be launching nationwide controls. Those found without buckled seatbelts can be hit with a fine of NOK 1,500 (USD 192). Thousands have already experienced surprise inspections, like those on board a Nordfjordekspressen bus in Sogn og Fjordane […]

‘Enormous’ interest in old embassy building

Real estate brokers in charge of selling the former US Embassy building in Oslo have received numerous bids for the property. Prices offered suggest the building can sell for as much as a half-billion kroner (USD 64 million). The embassy sits on a prime location just across from the Royal Palace park and the Nobel […]