‘Much lower growth’ in oil investments

The chief economist for the Norwegian national employers’ organization NHO is the latest to issue a sobering outlook that may only cheer anti-oil climate activists like Greta Thunberg: Norway’s economic growth will slow down, Øystein Dørum predicts, mostly because of “much lower growth in oil investments, and then a decline.” Dørum, who worked many years […]

Thunberg shames Solberg on climate

Prime Minister Erna Solberg was smiling as she posed at the opening of the UN Climate Change Conference. Now, however, she’s accused of ignoring the conference’s “call to action,” with young Swedish activist Greta Thunberg publicly accusing Solberg of violating UN rules against endangering the lives of children around the world. “Your government continues to […]

Bergensbanen remains Norwegian

After losing the first two rounds of new competition over train lines in Norway, the country’s own state railway has managed to retain the rights to run the main line between Oslo and Bergen. It was a great relief to the former Norges Statsbanen (NSB), now controversially known as Vy. It will be in charge […]

Economic upturn will ‘soon be over’

Norway’s currency remains historically weak, the housing market has cooled off,  concerns are rising about the future of the oil industry and investments are due to slow down. Norway’s state statistics bureau SSB (Statistics Norway) now thinks those trends will continue through next year, meaning that the country’s long-running economic upturn is about to end. […]

Parliament reacts to PST’s illegalities

The disciplinary committee of the Norwegian Parliament looks set to call in for questioning both the head of Norway’s police intelligence unit PST and the country’s justice minister. They’re ultimately responsible for how PST illegally gathered huge quantities of information from airline passenger lists and then stored it, in what’s been dubbed the latest “scandal” […]

Household debt continues to rise

Norway’s financial authority (Finanstilsynet) is worried about new figures showing how Norwegians’ household debt remains high and keeps rising. The most vulnerable are both young first-time home buyers with large mortgages and senior citizens who’ve borrowed against their equity. The annual figures released by the regulators now show total debt as a portion of gross […]

More arrests for king crab crime

Police have conducted more raids against a criminal network suspected of illegally trapping king crab and selling the crabs nationwide. The network is believed to have generated tens of millions of kroner in illegal revenues. Several locations in eastern Finnmark were targeted between Thursday evening and Friday morning. Norwegian Broadcasting (NRK) reported Friday that several […]

Two injured in platform explosion

Two workers on Equinor’s Heimdal platform in the North Sea were injured, one of them seriously, when a gas cannister exploded late Thursday. The two were flown by helicopter to hospitals in Stavanger and Bergen. A spokesman for the state oil company Equinor told newspaper VG that the accident occurred around 6pm Thursday. The cause […]

DNB suffers its own ‘Black Friday’

The much-hyped phrase “Black Friday” has taken on an entirely new meaning for Norway’s biggest bank, DNB. Investors dumped DNB shares, and buyers got some deep discounts, after state officials launched an investigation into alleged money laundering involving the state-owned bank, DNB’s shares fell 4 percent when the Oslo Stock Exchange opened Friday morning. By late afternoon […]

Norwegian Air cuts long-haul routes

Oslo-based Norwegian Air announced on Wednesday that it’s dropping its long-distance routes from Stockholm and Copenhagen to the US and Thailand. The move is part of the airline’s efforts to restore and sustain profitability. The long-haul routes from both Sweden’s gateway airport Arlanda (ARN) and Denmark’s Kastrup (CPH) will be grounded after this year’s winter […]