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Weak krone keeps Norwegians home

More Norwegians will be competing with all the tourists pouring off cruiseships and flying in to Norway for holidays this summer. Norway's weak currency makes traveling abroad much more expensive than usual, and the central bank opted against raising...

Hotel rates jump in Norway

Norway is an expensive country but used to be known for its relatively low rates for electricity and hotel rooms. That's no longer the case. Hotel room prices have soared this year, up as much as 34  percent in...

No punitive ‘toll’ on Chinese electric cars

Norway won't be following the US and EU in imposing punitive customs duty on electric cars imported from China. Finance Minister Trygve Slagsvold Vedum of the Center Party said the Labour-Center government has neither plans nor desire to increase...

Musk loses some respect in Norway

UPDATED: He used to be the darling of both government- and business leaders in Norway, but Tesla founder and billionaire Elon Musk has steadily been losing his appeal and even angered former supporters. His aversion to organized labour has...

Minister fails to curb executive pay

Executive pay and bonus deals have risen so high in Norway that they've drawn public scorn and been branded as "perverse" by labour union officials. Now they've sparked political drama, after defiant corporate boards have refused to follow new...

Inflation declines, but food prices rise

Norway's consumer price index (CPI) fell for the fifth month in a row in May, aided by a sharp reduction in electricity rates and new car prices. The country's notoriously food prices, though, rose yet again and are likely...

DFDS sells its Oslo cruise-ferries

Danish shipowning company DFDS is selling its cruise-ferry operations between Norway and Denmark, marking the end of an era for what's fondly called danskebåten (the Danish boat) among Norwegians. The ships have been carrying passengers, vehicles and some cargo...

Housing prices rise again

Despite all the concerns over higher interest rates, housing prices in Norway rose again in May. Real estate brokers are reporting more homes on the market and lots more interest from would-be buyers. Norway's national real estate organization, Eiendom Norge,...

Unemployment rises but more Ukrainians hired

A total of 119,000 people in Norway are now officially unemployed, pushing the country's unemployment rate up to 4 percent last month. That's still considered relatively low, though, and more Ukrainian refugees have found work. The latest numbers from state...

Lower inflation unlikely to lower interest rates

Norway's inflation rate dipped to 3.6 percent last month, but few economists think that's enough of a decline to prompt a reduction in Norwegian interest rates. Core inflation, which measures price hikes excluding energy rates and government-imposed fees, remained...

Revised state budget raids Oil Fund again, and wealthy regions

Norway's left-center government wants to spend an extra NOK 20 billion this year to further boost defense, send more financial aid to Ukraine and Gaza, and improve hospital care. In order to that, the Labour and Center Parties are...

Thousands of Ukrainians enter Norway’s job market

After losing their jobs, homes and parts of their country to Russian invaders, thousands of Ukrainian refugees in Norway are now emerging from both personal trauma and "introduction programs" aimed at helping them adjust to life in Norway. Their...

Egg shortage continues, food prices rise as farmers seek more funding

Norway's powerful farm lobby is once again demanding far more state funding than even the current farmer-friendly government is offering. That sets the stage for more organized protests, at a time when consumers face empty egg shelves and rising...

Housing market perks up

More sellers and buyers entered Norway's weak housing market last month, and real estate brokers claim it picked up after a very chilly winter. More people are attending open houses, they claim, and there's a better balance between supply...

Weak ‘krone’ didn’t spur rate hike

Norway's central bank kept interest rates steady on Friday and several economists no longer think they'll be lowered later this year. Others think the country's weak currency, meanwhile, is undergoing an identity shift, from being a "petro-krone" to one...

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