Norway braces for new Brexit chaos

This week’s Brexit drama is once again being followed anxiously in Norway, which struggled with its own EU referendum results in 1994. Now Great Britain is Norway’s single biggest trading partner, and Norwegian seafood exporters in particular don’t want, for example, to see their fish rot in any long lines at customs if the UK […]

Weak ‘krone’ may get even weaker

After more than a week of trading at around NOK 9 to the US dollar, Norway’s biggest bank is predicting that the country’s currency may lose even more value. DNB Markets thinks it will cost NOK 10.20 to buy a euro around Christmastime. The investment banking arm of Oslo-based DNB wrote in its latest economic […]

Brazilian free trade deal ignites fury

The timing could hardly have been worse, or even more internationally and politically embarrassing for the Norwegian government: As fires raged in the Amazon, and just a week after Norway withheld funds because of Brazil’s alleged violations of rain forest preservation, Norway and its fellow members of the European Economic Area have entered into a […]

SSB confirms lower economic prospects

International trade tension and higher interest rates are likely to put a damper on economic activity in Norway, according to state statistics bureau SSB (Statistics Norway). “We have clearly lowered our prognoser,” said SSB researcher Thomas von Brasch after presenting SSB’s latest economic analysis last week. It confirms the concerns of several other analysts and […]

Brexit uncertainty keeps on growing

Norwegian students are the latest group to be warned about the consequences of Brexit.  While businesses and British expats in Norway have been worrying for months, a government minister is flat out advising Norwegian students against beginning any foreign exchange- or other study programs in the UK this fall. “There’s so much uncertainty because of […]

Storm builds around Norway’s EU deal

Complaints from some of Norway’s biggest labour organizations, combined with no small dose of Norwegian populism, have been fueling dissatisfaction over Norway’s trade deal with the EU. Debate has been fueled by both uncertainty over Brexit and new questions over whether Norway should simply join the EU after all, and thus gain a stronger voice […]

Historic visit to firm up UK-Nordic ties

British Prime Minister Theresa May clearly has a staggering amount of things to deal with this week, from presenting her government’s state budget to negotiating the ongoing Brexit drama, but there she was, braving the rain in Oslo on Tuesday and making an historic appearance in the Norwegian Parliament. She’d accepted an invitation to attend […]

Solberg welcomes Theresa May to Oslo

Prime Minister Erna Solberg was ready to welcome her British colleague Theresa May to Oslo on Tuesday. The two planned to discuss Brexit, NATO and Russia during their meeting. May is traveling to Oslo to take part in the Northern Future Forum, which aims to enhance cooperation between the British prime minister and her colleagues […]

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 […]

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 […]