Banks team up on new mobile pay system

Around 100 Norwegian banks have joined forces with Norway’s largest bank, DNB, to use DNB’s new mobile payment system known as Vipps. Among them are the SpareBank1 alliance and several other small savings banks, which will become minority owners of the system DNB recently developed to pay via mobile phones. Newspaper Dagens Næringsliv (DN) reported that […]

DNB ‘shamed’ again over Dakota pipeline

Major Norwegian bank DNB is fending off more trouble over its involvement in the highly controversial Dakota Access Pipeline project in the US. An equally controversial decision by new US President Donald Trump to restart work on the pipeline has put DNB’s financing of it in question once again. Newspaper Dagsavisen reported just before the weekend that environmental […]

Sami still standing with Standing Rock

News this week that US President Donald J Trump plans to defy Native Americans and resume construction of the disputed Dakota Access Pipeline has prompted Norway’s indigenous people, the Sami, to reaffirm their support for the Standing Rock Sioux Tribal Nation. Sami from all over Norway along with Sweden and Finland have gathered in Trondheim […]

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 […]

Pipeline protests reach Parliament

SEE THE VIDEO: Protests in Norway against construction of the controversial Dakota Access Pipeline in the US have not subsided. Scores of protesters gathered in front of the Norwegian Parliament Thursday evening, shortly after Greenpeace Norway presented a demand backed by 420 organizations in 50 countries that Norway’s biggest bank and many others immediately suspend funding for the […]

DNB funds sell off their pipeline stakes

Investment funds managed by Norway’s biggest bank, DNB, have sold off stakes in companies behind the controversial Dakota Access Pipeline in the US. The bank is still involved in financing the pipeline but continues to “evaluate” whether to withdraw from that as well. DNB’s information director Even Westerveld confirmed to newspaper Aftenposten on Friday that its […]

Norway’s pipeline stakes deepen

Not only are Norway’s huge sovereign wealth fund and its biggest bank involved in the controversial Dakota Access pipeline, its largest life insurance firm and pension fund for local government- and other employees also has stakes in it. So does Norway’s second-largest bank, Nordea. Kommunal Landspensjonskasse (KLP) confirmed on Tuesday that it has invested in four […]

Oil Fund and DNB ‘re-think’ pipeline

Stung by harsh criticism over their involvement in the controversial Dakota Access Pipeline project, Norway’s huge Oil Fund and its biggest bank are both signaling a re-evaluation. DNB issued a press release on Sunday stating its concerns and raising the possibility that it will, as protesters demand, withdraw its financing. “Our policy is clear, that we only […]

Customers to DNB: ‘Shame on you!’

Nearly 4,000 Norwegians had signed a petition as of Friday afternoon that protests the financing of a controversial oil pipeline in the US by Norway’s largest bank, DNB. Several say they’re closing their accounts at DNB, while the bank contends it hasn’t experienced any major customer flight. “Shame on you, DNB!” wrote customer Karen Inga Vars on the […]

45,000 bank cards may be cancelled

Several Norwegian banks have been told that they should cancel bank cards held by around 45,000 Norwegian customers, because they may be subject to a massive international swindle. Several banks have already begun informing customers that their current debit and credit cards will be cancelled and replaced. “We’re talking about a swindle involving millions of kroner, so […]