Battle flares over control of SSB

Finance Minister Siv Jensen and the woman Jensen hired to run state statistics bureau SSB, Christine Meyer, squared off at a parliamentary hearing on Wednesday. Meyer claimed Jensen forced her out of SSB last fall, in an illegal move to exert political control over SSB, while Jensen claimed Meyer had ignored several warnings about making […]

Seafood sales set another record

Consumers around the world seem to have an insatiable appetite for Norwegian salmon and other seafood. Producers all along the coast exported NOK 94 billion (USD 12 billion) worth of seafood in 2017, setting another record after years of stunning growth. “It was the year of all years,” claimed Norway’s national seafood council. Its numbers […]

Oil and krone fuel thousands of jobs

Norway has suddenly found itself enjoying the economic effects of stronger oil prices and its weaker currency, the krone (crown). Just three years after the Norwegian economy went into crisis mode, when oil prices collapsed, a recent economic paradox is now expected to create thousands of new jobs in 2018 despite another fall in the […]

Year ended with upbeat statistics

The Christmas and New Year holidays are supposed to be a time for thoughtful assessments of the year that’s passed and the one that’s about to begin. New statistics show that Norwegians have more reasons to wave their flag and cheer their good fortune as they head into 2018. Despite all the news about political […]

Hint of higher rates boosts the ‘krone’

UPDATED: Norway’s krone has been through another period of extreme weakness during the past week, but it gained strength on Thursday. The boost came after the country’s central bank hinted that it may raise interest rates sooner than expected, and then that rates may rise faster. Norges Bank’s Executive Board decided to once again keep […]

‘Crazy,’ but the oil will keep gushing

NEWS ANALYSIS: It’s been less than two weeks since a major lawsuit popularly called “The People vs Arctic Oil” drew to a close in Oslo. Statoil didn’t wait for a verdict to move forward on Tuesday with more Arctic oil development that environmentalists promptly called “crazy.” As Norway’s oil minister also moved to open new […]

Krone falls further against the dollar

It cost as much as NOK 8.32 to buy one US dollar on Monday, after the Norwegian krone fell to its weakest point since the finance crisis. Higher oil prices are no longer enough to keep the oil-producing country’s currency strong. The krone has been weak all autum and especially the past few weeks. Analysts […]

Oil Fund targets tax dodgers in portfolio

Norway’s enormous sovereign wealth fund known as the Oil Fund is once again flexing its financial muscle around the world, pouncing this time on companies like Nike and Apple. It dislikes how such multi-nationals in which it invests have been avoiding taxes in countries where they do business, even when the practice is legal. Oslo […]

Housing prices keep sliding, debt rising

State financial authorities at Finanstilsynet report that housing prices are likely to keep falling through 2018 before they start rising again. Prices have fallen more than 10 percent in Oslo since April. “This is a natural chill in the market after the strong price growth we had last year,” said Morten Baltzersen, director of Finanstilsynet, […]

Krone’s latest dive ‘unique, strange’

Norway’s currency, the krone, has been caught in another puzzling downward spiral this week that’s left analysts groping for explanations. Despite more positive economic indicators, the Norwegian krone fell to one of the lowest levels ever against the euro on Wednesday and remained weak on Thursday. After trading at an already relatively weak level of […]