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Monday, May 23, 2022

Business

Suddenly cash was king again

Norwegians' aversion to using cash wound up costing merchants dearly and frustrating customers this week. When electronic payment systems suddenly broke down all over the country on a traditionally busy shopping day, cash reigned as the only way of...

Central bank delays interest rate hike

Norway’s central bank decided against raising its key policy rate by another quarter-point on Thursday. Even though interest rates are still expected to rise, the bank’s monetary policy committee didn’t think the time was right just now. “As we see...

Sanctions snarl ship’s sailings

While Norway's coastal shipping and cruise line Hurtigruten has been plagued by Corona virus-related problems, its new domestic competitor is caught up in trouble linked to Russia's war on Ukraine. The new Havila Capella remained at the dock in...

Farmers demand more than ever

Norway's constantly complaining farmers have made a shocking demand for state subsidy and other support, but may be able to get it. The Labour-Center government made lots of promises to them during last year's election campaign, and is now...

Norway closes borders and harbours to Russian transport

IT WOULD HAVE BEEN UNTHINKABLE just two months ago, given years of border cooperation between Russia and Norway - but then Russia invaded Ukraine, another of its neighbouring countries. Now the Norwegian government has finally decided to follow the...

More drama flies around SAS

Scandinavian Airlines (SAS) has cancelled as many as 400 flights this month, either because of a lack of crews to fly them or too few passengers, and now faces a threatened strike by unhappy pilots in Norway, Sweden and...

Lofoten wants to impose ‘tourist tolls’

Lofoten, Northern Norway's wildly popular and scenic chain of islands, thrives on tourists but also faces lots of expenses to accommodate them all. A local tourist tax was foiled by state authorities a few years ago, but now local...

Bittersweet comeback for sugar taxes

Norwegian health authorities want state politicians to reimpose the country's controversial taxes on sugar. That would boost prices on all food and drink that contains sugar and, argue opponents, simply send more Norwegians over the border to shop in...

Stock exchange takes a dive

Norway's stock market was battered on Monday along with many others around the world. The Oslo Stock Exchange (OSE)'s main index fell 2.99 percent, making it one of the worst trading days of the year so far. The OSE's main...

Metro line to Fornebu stalled

It took more than 20 years for Oslo-area politicians to finally agree on building a long-awaited metro line to the rapidly redeveloping Fornebu area west of downtown. Now the project's future is up in the air, because of huge...

Alcoholic drinks may carry cancer warnings

Norwegian health authorities are recommending that all beverages and other products containing alcohol be slapped with warnings that they could cause cancer. The warnings would be similar to those that have long dominated packs of cigarettes and other tobacco...

State extends electricity subsidies

Norwegians reeling from the highest monthly electricity bills ever will continue to get financial assistance from the state government, some of it even sweetened. The Labour, Center and Socialist Left (SV) parties agreed on Tuesday to extend support until...

Workers win more purchasing power

Norwegian labour leaders and industrial employers were heaving sighs of relief on Saturday, and probably getting some badly needed sleep. After marathon mediation that ran 23 hours into overtime, they managed to ward off a major strike late Friday...

Banks start raising mortgage rates

It didn't take long for Norway's commercial banks to boost their lending rates after the central bank, Norges Bank, raised its policy rate again on Thursday. First out was Sparebank1 Nord-Norge, which followed along with a quarter-point rise. News service...

Labour talks drag on, conflicts loom

State mediation is continuing between one of Norway's largest industrial trade union federations and the employers' organization Norsk Industri, after initial negotiations between the two broke down last week.  Now some worry that conflicts within labour organizations can be...

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