Norway should be cash-free by 2020

Finance industry organization Finans Norge said Norwegian consumers should only be paying by card, netbank or on mobile phones within six years. The group argued a cash-free society would reduce the risk of robbery, make it easier to crack down on financial crime, and save cash handling expenses. Norwegians are increasingly using less and less […]

Brokers urged to take ‘pappaperm’

Norwegian politicians and large financial firms reacted strongly this week to revelations that many independent brokerage firms dissuade new fathers from taking parental leave. Conservative politicians criticized the smaller firms for their outdated attitudes, while the chief executive of DNB said new parents had a legal right to leave and should not be punished for taking […]

Weaker krone hits holiday makers

July is typically the time when many Norwegians head abroad, seeking sun and relaxation in warmer, cheaper southern European countries. This summer’s holiday may be the most expensive in years, though, after a downturn in oil investments and the likelihood of extended low interest rates drove a 5 percent drop in the Norwegian krone against the euro in […]

Thommessen’s tax haven tangle

UPDATED: The Chief Minister of Guernsey said he’d contact the President of Norway’s Parliament (Stortinget), Olemic Thommessen, after Thommessen went public with his 10-year private battle to access a trust on the Channel Island. It’s highly unusual, and potentially scandalous, for a top Norwegian politician to be involved with a trust in a so-called tax […]

Father’s leave still a burning issue

The debate over paternity leave in Norway continues, also after the election. Now a top finance industry official is urging an incoming Conservatives’-led government coalition to refrain from making any changes in the quota for parental leave targeted at fathers. The head of the finance industry association Finans Norge, Idar Kreutzer (who’s also the former […]