Unemployment falls but job fears loom

The latest numbers from state welfare agency NAV show 83,000 fewer job seekers in June than in May, and Norway’s official unemployment rate fell to 4.8 percent. Hard-hit hotel- and travel businesses still fear the worst, though, and warn of a new wave of terminations later this summer. “The numbers of people without jobs continue […]

Bankrupt shipyard may be saved

All 430 workers at the bankrupt shipyard Kleven Verft in Ulsteinvik have been routinely terminated, but many may get their jobs back and everyone is due to finally be paid what’s owed them on Friday. Bjørn Åge Hamre, the lawyer who’s now serving as administrator of the yard’s estate, hopes all the terminations are temporary. […]

Oil Fund weathers stormy first half

Norway’s Oil Fund ended a stormy first half of the year with just as much value as it had before having to face crises tied to the Corona virus, the economy and its own future leadership. The fund is still worth a dizzying NOK 10,340 billion, up more than NOK 250 billion since the end […]

Airlines pressured to issue refunds

Norwegian aviation authorities are finally adding to the pressure on airlines to refund tickets for flights that were cancelled. Scandinavian Airlines (SAS) and Norwegian Air stand accused of breaking a law that orders them to refund flight cancellations within seven days. Thousands of customers along with travel agents and tour operators have instead been waiting […]

El-scooters overrun summer in the city

They seem to be everywhere again, rolling out of control in Norwegian cities and then literally being dumped on sidewalks, in parks and even in people’s yards. Local politicians are being accused of shirking responsibility for regulating the popular electric scooters as complaints rise. Now even one of the biggest players in Oslo, Voi, is […]

Norwegian Air sues Boeing

After years of problems with its Boeing 787 Dreamliners and 737 MAX jets, Norwegian Air has decided to sue the Seattle-based aircraft producer. The suit comes just after Norwegian also cancelled its entire order for 92 more of the MAX jets. “We still want to reach a commercial agreement,” Geir Karlsen, finance director for Norwegian, […]

Telenor fined for exploiting its role

European regulators are punishing Norway’s state-controlled telecoms giant Telenor with a hefty fine of NOK 1.2 billion (USD 125 million) for misusing its market dominance to put pressure on the profit margins of other operators. Telenor promptly announced Tuesday that it would appeal. “We are very surprised over both the conclusion of ESA (the European […]

Housing prices expected to soar

A Norwegian researcher specializing in the housing market thinks Norway may see the strongest price growth since 2017. It’s already been holding up well during the Corona crisis and demand is now predicted to outpace supply. Homebuilding came to an abrupt halt when the crisis first hit Norway last winter, and closed borders disrupted the […]

Airlines fire, but also re-hire

Oslo-based Norwegian Air is calling 600 laid-off employees back to work in July and rival Scandinavian Airlines (SAS) won’t rule out the same. On Monday, however, SAS sent out termination notices to nearly 1,600 of its employees in Denmark and still thinks it will have to fire a total of 5,000 throughout Scandinavia. More than […]

New oil fields open, demand wanes

It didn’t take Norway’s Oil & Energy Minister Tina Bru long to launch the country’s 25th licensing round for more oil exploration and potential production, after Parliament settled on how far north such activity can take place. It remains unclear, however, whether the oil companies will express as much interest as before. The opening of […]