Norway sues US over ‘illegal’ import tax

It’s highly unusual for allied nations to sue one another, but Norway is joining the European Union (EU) in filing a legal complaint against the US’ Trump Administration over its new customs duty on steel and aluminum. Norway claims the import tax violates the rules of the World Trade Organisation (WTO). US President Donald Trump […]

Norway cut losses in tax evasion scam

Investors and banks reportedly have managed for years to avoid paying tax on dividends in several European countries including Norway. The alleged swindle could have cost Norwegian taxpayers alone as much as NOK 350 million. An investigation conducted by cooperating European media revealed on Thursday that the alleged swindle may have cost several European countries’ […]

More new currency notes set to sail

Norway’s central bank is due to formally launch its new 500- and 50-kroner notes into circulation on Thursday. The new bills, issued in order to introduce more security features to prevent counterfeiting, carry on Norges Bank’s maritime theme that shines through them all. The NOK 50-note literally shines with its image of the Utvær Lighthouse […]

Analysts mixed on stock market fall

The Oslo Stock Exchange was battered this week like other stock markets around the world, following Wednesday’s dives in the US and Asia. One major Norwegian investor advised against doing any “bottom fishing” just yet. “Rising uncertainty tied to trade wars, rising interest rates and rising oil prices can accelerate the fall,” Jan Petter Sissener […]

Housing prices are down nationwide

Average prices of both new and used homes fell in Norway last month, another sign that the country’s once-red-hot residential real estate market has cooled off. While many cite a better balance between supply and demand, it’s not good news for builders of all the housing projects now underway. “It seems like there’s been a […]

Giant skyscraper plan meets fury

Local opposition is strong to wealthy Norwegian industrialist Kjell Inge Røkke’s plans to build a skyscraper at Fornebu in Bærum, west of Oslo. Residents literally in the shadow of the 60-story building are already calling it Norway’s version of Trump Tower. “We are outraged over these plans,” Anne Greve, deputy leader of an organization representing […]

Funding sinks for a ships’ tunnel

More than 100 years of hopes and plans for a unique tunnel for ships off Norway’s West Coast are now desperately treading water. No funding at all was allocated for the project in the conservative government’s state budget proposal for next year. The long-discussed tunnel would allow fishing boats and other vessels to avoid sailing […]

Hydro ‘closer to solution’ in Brazil

Norwegian aluminum firm Hydro may be able to resume production at its huge but deeply troubled plant in Brazil, reports Oslo newspaper Dagens Næringsliv (DN), after authorities granted permission to use some new technology. Hydro still needs additional authorizations, however, before its Alunorte plant can start up again at 50 percent. Hydro announced last week […]

State budget aims for political appeal

Finance Minister Siv Jensen presented the conservative Norwegian government coalition’s state budget proposal on Monday that seems to offer something for everyone. While Jensen stressed that “it’s good for the country,” it was widely viewed as especially good for the small Christian Democrats party that will ultimately decide the fate of both the budget and […]

Royals are finally invited to China

The Chinese government kept Norwegian officials in suspense, but have finally followed through on a promised invitation to King Harald and Queen Sonja. The royals will leave next week for a week-long state visit, their first to China in 21 years. It confirms how a diplomatic freeze between Norway and China has thawed, even though […]