Central bank raises interest rates

Interest rates rose another quarter-point on Thursday, after Norway’s central bank decided that it was time to gently step on the country’s economic brakes. Norges Bank‘s governor, Øystein Olsen, also warned that another interest rate hike looms later this year. “Our current assessment of the outlook and balance of risks suggests that the policy rate […]

Pork industry’s secrets revealed

Norwegian farmers’ carefully cultivated image of taking good care of their animals in almost idyllic settings was shattered Wednesday night. An NRK documentary revealed widespread animal abuse among those raising pork, along with cynical attitudes among farmers who were well aware they were violating Norway’s animal welfare regulations, and seemed immune to the suffering they […]

Battle flares over popular North Cape

Norway’s North Cape is one of the country’s foremost tourist attractions where visitors have long had to controversially pay for access to the Arctic plateau. Now coastal voyage line Hurtigruten is challenging the Scandic hotel chain’s operating monopoly on the North Cape, through a complaint to the European Free Trade Association’s surveillance authority ESA. Conflicts […]

Norwegian Air’s chief ready to retire

Speculation has been swirling for months over when the 72-year-old founder and chief executive of Norwegian Air would finally step down. Now Bjørn Kjos seems more keen to relinquish control, in an interview conducted during the Paris Air Show this week. “I really hope they (the board of holding company Norwegian Air Shuttle) find someone […]

New DNB boss defends court appeal

Kjerstin Braathen, the new chief executive of Norway’s biggest bank DNB, has spoken warmly of how important customers are. She’s prepared, however, to meet representatives for thousands of them in court after the bank decided to appeal its loss in the country’s biggest class-action suit ever. “It’s never nice to meet our customers in court,” […]

Two East Barents wells come up dry

State-owned oil company Equinor is disappointed while climate activists are relieved: Norway’s Petroleum Directorate has reported that a second well drilled by Equinor and its partners in a once-promising portion of the eastern Barents Sea was “classified as dry,” and has now been “permanently plugged and abandoned.” The failure to find oil in the well drilled […]

Swedes win rights to major train lines

Norway’s much-criticized state railway, recently ridiculed when it changed its name to Vy, has now lost the rights to run seven train lines including the main line between Oslo and Trondheim (Dovrebanen) and the country’s most northerly line (Nordlandsbanen). Sweden’s SJ Norge won the new state contract to take over responsibility for passenger transport, also on […]

Leak may have set off hydrogen explosion

A preliminary report on the hydrogen explosion at a filling station in Sandvika earlier this month ties it to a leak in a high-pressure storage tank. The report was conducted by security consultancy Gexcon for Nel ASA, the company that developed the technology at the filling station. Police have said their own report on the […]

‘Norway buys itself out of climate vow’

NEWS ANALYSIS: The timing was ironic at best: Norway’s state-owned oil company Equinor announced a new oil and gas discovery in the Norwegian Sea on Monday, just as the government was vowing to cut carbon emissions by 40 percent by 2030. The government’s deal with the EU, however, will allow Norway to account for some […]

Hydrogen blast probe ‘may take months’

Norwegian police still aren’t offering any preliminary findings into their investigation of a major explosion at a hydrogen filling station just west of Oslo last week. The blast, meanwhile, has brought most of the hydrogen vehicle industry in Norway to a standstill. “It tends to take a relatively long time when we need to write […]