Sporting goods chain to fade away

Sports retailer Gresvig has long been one of the dominant retailers in Norway, with its G-sport and G-Max chains highly visible all over the country. Now they’re being shut down following large losses, with most being moved over to the Intersport chain. Newspaper Dagens Næringsliv (DN) reported just before the weekend that G-sport and G-Max […]

Historically weak krone recovers a bit

It’s been 17 years since it cost more than NOK 9 to buy one US dollar, but that’s how weak the krone was through the weekend. It regained some strength on Monday, but not much, and now interest rates may not be raised after all. As the krone traded at around NOK 8.97 late Monday […]

Russia won’t let Hurtigruten sail

Russian authorities have spoiled some exclusive Arctic cruise plans for passengers on board one of the Norwegian shipping line Hurtigruten‘s newest vessels, the MS Spitsbergen. After initially seeming to welcome more cruise traffic in Russian waters, the Russians have suddenly denied the vessel entry. “We’d had a good dialogue with Russian authorities for a long […]

Trondheim parks el-scooter rentals

Officials in the central Norwegian city of Trondheim have become the first to respond to mounting concerns and complaints about electric kick scooters that have filled streets and sidewalks all over the country this summer. They’re prohibiting scooter rentals from September 1, until new safety regulations are in place. “We haven’t had rules for this […]

Interest rates steady, shares recover

The executive board of Norway’s central bank kept its key policy rate unchanged at 1.25 percent on Thursday. The Oslo Stock Exchange, meanwhile, seemed to be recovering from a sharp decline on Wednesday. “The upturn in the Norwegian economy is continuing broadly as expected in June,” the bank board stated, while “underlying inflation has been […]

Oslo ‘to be emissions-free by 2030’

Norway’s municipal election campaign is underway, with incumbent politicians in Oslo promising that they’ll make the Norwegian capital emissions-free by 2030. Critics question whether that’s realistic. Oslo’s Labour Party-led government coalition that includes the Socialist Left and Greens parties invited reporters and others on a tram ride Friday, during which they announced ambitious goals. All […]

Oil price rollercoaster worries analysts

Oil prices revived a bit heading into the weekend on Friday but after dipping below the USD 60 mark earlier in the week, some analysts think they can fall some more. That’s not the best news for an oil-producing country like Norway. “It’s now a bear market,” wrote oil analyst Helge André Martinsen of DNB […]

Oslo set to refund some property tax

The City of Oslo, which lost a key portion of a lawsuit filed by more than 1,000 property tax payers, is now poised to refund NOK 388 million to 55,000 of its residents. Officials promise no city services will be cut in return. The Labour Party-led city government in Oslo was simply too quick to […]

Seafood exports set new record

Norway’s weaker currency is good for exports, and likely helped seafood producers set a new record in July for the value of their shipments abroad. News service NTB reports that Norway exported 164,000 tons of seafood last month, worth NOK 7.8 billion (USD 876 million). Even though the size of the shipment was lower than […]

‘Food production must be changed’

Norwegians must join the rest of the world in eating less meat, and stop developing untouched natural areas, declared Norway’s government minister in charge of climate and environmental issue on Thursday. Ola Elvestuen was reacting to the UN Climate Panel’s report that calls for radical changes in how food is produced. The report stresses that […]