Plans approved for huge wind energy project

Norway’s Oil & Energy Ministry approved development plans on Wednesday for Equinor’s wind power project Hywind Tampen in the North Sea. It’s billed as the largest such project in the world, with construction due to start in 2022. Oil & Energy Minister Tina Bru claimed it was “an historic day” and that the Hywind Tampen […]

Market slides amid oil price drama

The last day of trading prior to Norway’s five-day Easter holidays ended with the Oslo Stock Exchange’s main index falling 1.34 percent, to 734.38. The Norwegian market once again was influenced by an oil price drama that wasn’t resolved by closing time, and also involved controversial calls for tax breaks from the country’s biggest and […]

Tax filing deadline nears

Hundreds of thousands of Norwegians are likely to spend at least some of the Easter holidays preparing their tax returns. Fully 2.8 million are in line for refunds likely to total nearly NOK 34 billion. Norway’s highly automated and simplified tax system means that the vast majority of employees can just glance over all the […]

Cash support wins Parliament’s nod

Business owners all over Norway heaved a collective sigh of relief on Tuesday, after Parliament approved its largest package of expenditures ever. They involve emergency measures aimed at warding off bankruptcies during the Corona crisis, including cash support to businesses forced to close. “It’s the largest commitment the Parliament has ever made,” Tryvge Slagsvold Vedum, […]

Hurtigruten extends its halt in cruise operations

Norway’s famed coastal voyage firm Hurtigruten announced Monday that it’s extending its cruise operation shutdown to six weeks. “The consequences of the Corona virus are affecting everyone, and hitting us in Hurtigruten hard,” stated the shipping line’s CEO Daniel Skjeldam. It’s current pared-down ferry and passenger transport operation between Bergen and Kirkenes will continue, but with […]

Norwegian Air fires hundreds in Sweden

Around 800 Norwegian Air employees based in Sweden were all given notice on Monday that they’ve lost their jobs. It’s the latest dramatic news from an entire aviation industry grounded by the Corona virus crisis with no new income flowing in. Norwegian Air has been caught up in a crisis of its own, and is […]

Norwegian’s long-haul routes at risk

Analysts following the ongoing drama around Oslo-based Norwegian Air now think the deeply troubled airline will have to drop the long-haul routes that put it deeply into debt. With an Easter deadline for a rescue plan approaching, time was running out over the weekend for Norwegian to get its creditors on board. State officials have […]

Business booms at Vinmonopolet

After cross-border shopping in Sweden, tax-free stores and local bars and restaurants were all shut down in the Corona crisis, Norwegians have been flocking to the state-controlled wine and liquor chain Vinmonopolet. Business is so strong that customers often have to line up to enter in controlled allotments. State broadcaster NRK reported Friday that sales […]

Grocery stores fend off Easter crowds

Grocery chains are using the familiar tone of Norway’s mountain safety guidelines in a campaign to reduce crowds and prevent hoarding ahead of the country’s lengthy Easter holidays. With Norwegians ordered to stay home this year, to limit Corona virus infection, they’ll have to stream to grocery stores in the cities instead of skiing in the […]

Calls go out for a new ‘Corona tax’

As Norwegian leaders prepare to pull billions out of their country’s huge Oil Fund, to cover the extraordinary costs of the Corona virus crisis, several economists think they have a better idea. They’re promoting a new “Corona tax” instead, as part of a collective solution to a common problem. “I think that would be a legitimate […]