Property tax bills spark more outcry

Several cultural institutions and humanitarian organizations are the latest to be hit by new property tax bills from the City of Oslo that they claim can threaten their operations. Taxpayers in other cities and towns around Norway are also receiving shocking bills, many in areas where the local economy is thriving and the local government has […]

Conservatives gain on Labour’s loss

NEWS ANALYSIS: Prime Minister Erna Solberg’s Conservative Party has scored a major gain in the latest public opinon poll, which also logged the worst showing for the Labour Party since Jonas Gahr Støre became its leader. The Conservatives are clearly riding a new wave of support tied to their annual national meeting last weekend, even though critics […]

Interest rates stay low

The board of Norway’s central bank, Norges Bank, opted once again to keep its key lending rate low and unchanged at 0.5 percent on Thursday. The bank itself now predicts that interest rates will remain low for several years ahead. “Monetary policy remains expansive and supports restructuring of the Norwegian economy,” central bank chief Øystein Olsen […]

‘Norway Creates Jobs in the US’

Norwegian Foreign Minister Børge Brende flew to Washington DC this past week with a bold and unusual message for the new US Trump Administration and Republican politicians who support it. Armed with statistics compiled with the help of the Norwegian Embassy in Washington, Brende intended to prove how a foreign country like Norway doesn’t threaten to take jobs […]

Norway’s Oil Fund just keeps growing

Analysts and politicians weren’t expecting much, but Norway’s huge sovereign wealth fund known as the Oil Fund logged a good year last year. It ended up with a 6.9 percent return, much higher than the 2.7 percent logged in 2015, and grew in overall size by a dizzying NOK 447 billion (USD 54 billion). Some […]

Overall pay growth lowest since the war

Higher prices in Norway cut into the modest pay raises received by Norwegian workers last year. That led to a large decline in purchasing power that labour unions want to correct this year. After the last two years of economic downturn and lots of job cuts in the important oil and offshore industries, both labour […]

Bank boss had to alter annual address

Norway’s central bank boss Øystein Olsen had to make some last-minute changes in his important annual address on the economy Thursday evening. Just hours before he took the podium, government leaders announced they were finally going along with something he’s recommended for years: putting new limits on the use of Norway’s oil revenues. Olsen, governor of […]

Government reins in Oil Fund use

Prime Minister Erna Solberg and Finance Minister Siv Jensen, who have transferred more money from Norway’s Oil Fund to the state budget than any of their predecessors, now propose tying such withdrawals in the future to “more realistic,” and lower, expected returns. That can further limit the use of Norway’s oil revenues, and they also want to […]

Statoil optimistic in a new oil market

After years releasing a lot of bad news, the chief executive of Norway’s biggest and arguably most important company now seems defiantly optimistic. Statoil CEO Eldar Sætre even had his closest associates laughing last week, just before they all had to release some of the poorest results in the company’s history. They’re all confident that the […]

Telenor, Statkraft cut hundreds of jobs

Norwegian power company Statkraft and state-controlled telecoms firm Telenor announced more major jobs cuts on Thursday. At Telenor, the cuts were blamed on the ongoing shift to new technology. That’s what’s often leading to job losses these days, as opposed to trade issues and cheaper overseas production. The new job cuts come just a day after […]