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Thursday, September 19, 2024

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Still no interest rate relief in Norway

Many other countries have been lowering interest rates, but Norway's central bank has decided to buck the trend once again. Its policy rate was kept at 4.5 percent on Thursday, and probably won't be cut until early next year...

Inflation rate lands at 2.6 percent

Norway's state statistics bureau SSB reported Tuesday that prices in general are up 2.6 percent since September last year. Food prices, meanwhile, have risen another 4.5 percent, but were slightly down from August. Food prices usually fall in September, when...

SAS strike over, workers won

Flight attendants at Scandinavian Airlines (SAS) had to go on strike for them, but have now won many of the standard pay and benefits held by other workers. That prompted them to call off the strike they'd called last...

Airport projects boost costs

Avinor, the state-owned company in charge of running Norway's airports, faces higher costs for technology improvement projects that have left it with budget overruns. It thus needs more money from airport users and the state. Newspaper Dagens Næringsliv (DN) has...

Struggling SAS faced new strike

NEWS ANALYSIS: Millions have been spent on lawyers' fees, consultants, executive pay and other costs tied to Scandinavian Airlines (SAS)' emergence from bankruptcy protection, while Norwegian flight attendants claim they haven't had a raise for 12 years and work...

‘Weak krone can be good for the economy’

Norway's weak currency, the krone, has made it much more expensive for Norwegians to travel abroad and boosted the price of imports. The chief economist for Norway's largest trade federation LO, however, doesn't think it's all that bad. "It means...

Grocery giants hit with huge fines

The Norwegian Competition Authority has finally cracked down on the highly profitable companies that control 95 percent of Norway's notoriously high-priced grocery stores. Rema, Coop and NorgesGruppen were slapped with fines totalling NOK 4.9 billion on Wednesday, after being...

Widerøe allies itself with Lufthansa

Widerøe, Norway's short-haul airline that serves many small airports around the country, has signed a new agreement with the large German airline Lufthansa. It will allow Widerøe passengers to fly on to Lufthansa's international destinations on one ticket. The so-called...

Strike threat looms at SAS

Flight attendants at Scandinavian Airlines (SAS) are threatening to go out on strike later this week, if their demands for better pay and working conditions aren't met. The airline and the flight attendants' union were heading into mediation on...

Weak krone sparks debate

Norway's unusually weak currency, the krone, strengthened a bit on Monday but remains a problem that's made many Norwegians feel poorer. The government refuses, though, to set up a so-called "krone commission" that could bind the krone to the euro,...

Norwegians still shopping in Sweden

Norwegians spent NOK 583 million more shopping in Sweden during the first half of this year than they did last year. That's up nearly 13 percent from cross-border spending during the same first-half period last year, as Norwegians seek...

No change in interest rates, for now

Norway's central bank (Norges Bank) announced on Thursday that it had decided keep its policy rate unchanged at 4.5 percent, and that it's likely to stay there "for some time ahead." That was in line with most economists' expectations,...

Stock market slump hits Oslo, too

The Oslo Stock Exchange (Oslo Børs) closed Friday afternoon after its worst day since March of last year. Its main index ended at 1408.9, down 2.94 percent. That was the biggest decline logged in one day for 17 months, even...

Norwegians bemoan weak kroner

It's been costing Norwegians more than 14 of their kroner to buy just one British pound this week, more than NOK 12 to buy a euro and more than NOK 11 to buy a US dollar. That's further boosting...

Norway logs another huge trade surplus

While many countries struggle with trade deficits, Norway managed to log its third-highest trade surplus ever earlier this month. The country's exports were valued at NOK 365 billion more than imports during the first six months of this year,...
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