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 […]

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 […]

Oslo Stock Exchange tops all the others

The Oslo Stock Exchange (Oslo Børs) has provided better returns for investors this year than any other stock exchange in the world. The small but financially mighty bourse reflects the effect rising oil prices have had on the resurgent Norwegian economy, and even the economic redevelopment of the neighbourhood surrounding it. Surrounded by a fenced-in […]

Interest rates begin to creep upwards

The executive board of Norway’s central bank cautiously raised interest rates on Thursday for the first time in seven-and-a-half years, but not as much as predicted. An increase was widely expected and even viewed as good news because it’s a sign of renewed strength in the Norwegian economy, while some economists question whether the rise […]

Employers plan to hire more workers

Employment prospects are looking up again in Norway. A new survey shows that many companies are planning to do more hiring by the end of the year, while employers in four out of five reagions in Norway plan to increase staffing. “Employers looking for new talent will need to prepare for tough competition,” Maalfrid Brath, […]

Oil industry meets amid new ‘bonanza’

Thousands of oil industry players from all over the world are in Stavanger this week for the latest Offshore Northern Seas (ONS) exposition, and the mood could hardly be better. It was only fitting that the price of a barrel of North Sea crude jumped back up to USD 76 this week, adding to optimism […]

Rates kept stable as growth slows

Norway’s central bank (Norges Bank) opted against raising interest rates on Thursday, while economists warned of weaker economic growth and “deep concern” about US President Donald Trump’s trade wars. A rise in interest rates still looms in September. The central bank’s executive board stated that the current “upturn” in the Norwegian economy that began when […]

Oil industry faces labour shortage

The rapid recovery of Norway’s oil industry is suddenly leaving some offshore oil and oil service companies short of workers. State welfare and employment agency NAV reports that a labour shortage is beginning to resurface in several sectors, with the decline in unemployment greatest among engineers and information technology experts. Unemployment in Rogaland County on […]