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Economics
| Norway finds Malaysia a good place to invest in |
| [Norwaynews] [10.03.2010, 05:42am, Wed. GMT] |
 Norway considers Malay'sia a worthwhile place to invest, Crown Prince Haakon Magnus said. He added that the business sector was the key element for his three-day visit to Malaysia with Crown Princess Mette-Marit. 'The sizeable business delegation accompanying me on this official visit is substantial evidence that the Malaysian markets are interesting for Norway, and that our countries have mutual interest in strengthening our business relations,' Prince Haakon said at the Malaysian-Norwegian Forum of Competence yesterday. |
 | | | | Siemens wins NOK1 billion wind turbine order in Norway |
| [Norwaynews] [25.12.2009, 09:01am, Fri. GMT] |
| Siemens AS, the Norwegian unit of German electronics group Siemens AG, said today in a statement it has signed a contract, worth up to NOK1bn to supply and operate 43 wind turbines, with Norwegian utilities Jaeren Energi and Nordkraft Vind. “The deals are the first wind turbine contracts, signed by Siemens in Norway and mark the start of a massive wind power initiative,” head of renewable energy at Siemens AS, Tore Tomter, said. The agreements cover delivery of 11 wind turbines for the Nygårdsfjellet wind park in Narvik and 32 turbines for the Hog-Jaeren energi park. Deliveries are due to start in the summer of 2011. |
| | | | Ethiopia, Norway sign $40 mn hydropower accord |
| [Norwaynews] [01.12.2009, 07:55am, Tue. GMT] |
Ethiopian and Norway on Monday signed a $40 million grant agreement to finance Ethiopia’s hydropower projects. According to the agreement, around $35 million of the grant will be utilized to finance the feasibility studies of Mondaya and Bako-Ambo multi-purpose hydropower projects,which are being carried out in the Oromia regional state of Ethiopia. The Ethiopian state minister of Finance and Economic Development, Ahmed Shide and the Norwegian ambassador to Ethiopia, Jens-Petter Kjemprud signed the agreement in Qddis Addis Ababa. |
| | | | Ryanair to open Oslo base |
| [Norwaynews] [24.11.2009, 04:59pm, Tue. GMT] |
Ryanair is to open its thirty-seventh base at Oslo Rygge in March 2010 with three aircraft and 16 new routes (22 in total). Ryanair will offer 100 weekly return flights to/from Oslo Rygge in an investment of over $200m (€133.5m) in the airport. Ryanair’s 16 new routes from Oslo Rygge to Aarhus, Berlin (Schonefeld), Dublin, Dusseldorf (Weeze), Eindhoven, Gdansk, Krakow, La Rochelle, Malaga, Memmingen (Munich West), Palma, Paris (Beauvais), Riga, Wroclaw, Valencia and Venice (Treviso) will increase Ryanair’s traffic at Oslo Rygge to 1.7 million passengers per annum.
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| | | | Tata Power plans JV projects with Norway co |
| [Norwaynews] [04.11.2009, 11:43am, Wed. GMT] |
Tata Power, India’s largest private utility, has planned a joint equity investment of Rs 4,000-Rs 5,000 crore over five years to build joint venture hydropower projects with Norway’s renewable energy firm SN Power. The move signals Tata Power’s interest to increase its presence in hydro power, even as the government eases norms for investment in renewable energy projects. The Tata group company, which has a total hydropower generation capacity of 477 mw , on Friday signed an agreement with Norway’s renewable energy generator SN Power, that will build and operate 2,000 mw by 2015 and 4,000 mw by 2020, in India and Nepal. The company has an independent power generation capacity of over 2,900 mw and plans to add nearly 5,500 mw by 2013.
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| | | | More Economical asylum seekers to Norway |
| [Norwaynews] [15.10.2009, 09:31am, Thu. GMT] |
| So far this year 13,379 asylum seekers have arrived in Norway. This is nearly as many as for the whole of last year, when around 14,400 applied for asylum. 1612 applied in September alone. This is 66 more than in September last year, according to fresh figures from the Immigration Directorate (UDI). Around 14 per cent of the assylum seekers clasify themselves as single minors. Of the near 14,000 asylum seekers who have arrived this year, 24 per cent come from Afghanistan, 15 per cent from Eritrea, 11 per cent from Somalia and 7 per cent from Iraq. |
| | | | Privately financed Norwegian power plant in Africa |
| [Norwaynews] [06.10.2009, 07:28pm, Tue. GMT] |
| Norwegian Minister of International Development, Erik Solheim is this week opening the first Norwegian hydro power plant in Africa financed by private industry. It is located in Kasese, Western Uganda. The plant is built using modern Norwegian technology and expertice. It will increase Uganda's total el-production by seven per cent. This is the first time in history that Norwegian investors build a hydr power plant in Africa. Cooperation between private and public sectors is desicive for development in developing countries. In Africa there is a great need for environmental friendly and renewable energy. I hope for more similar investments, Minister Solheim says. |
| | | | FICCI, Innovation Norway ink 'Bilateral Cooperation Agreement' |
| [Norwaynews] [26.09.2009, 05:41pm, Sat. GMT] |
| Industry body FICCI of India and Norwegian government's Innovation Norway has signed a 'Bilateral Cooperation Agreement' to facilitate, strengthen and diversify industrial cooperation between the firms of the two countries. The agreement was signed yesterday by FICCI Secretary General Dr Amit Mitra and Innovation Norway President & CEO Ms Gunn Ovense. ''The two organisations will ensure the implementation of industrial cooperation agreements, creation of joint ventures, transfer of know-how of technology, license agreements and investments on Indian and Norwegian territories,'' a FICCI statement said. |
| | | | Norwegian Government positive to participate in DnB NOR rights issue |
| [Norwaynews] [25.09.2009, 04:23pm, Fri. GMT] |
| The Norwegian Government will shortly put forward a parliamentary bill to the Norwegian Parliament (Stortinget) proposing the Norwegian State should participate with a proportionate share in the upcoming ordinary rights issue in DnB NOR ASA. This will ensure that the State retains its 34 percent ownership in the company. “The Government is positive to the Board’s proposal for a rights issue in DnB NOR,” says the Minister of Trade of Industry Sylvia Brustad. |
| | | | Iraq's Kurds suspend Norwegian oil operations |
| [Norwaynews] [23.09.2009, 08:09am, Wed. GMT] |
Iraq's self-governing Kurdish region has suspended all of Norwegian company DNO International ASA's oil operations after a regulatory probe in Oslo led to the disclosure of what the Kurds say is misleading information about their dealings with the company. In a release issued late Monday, the Kurdish region's Natural Resources Ministry said it was giving the company six weeks “to remedy to our full satisfaction the damage done to the Kurdish regional administration's reputation” and also sort out its “internal problems with the Oslo Stock Exchange.”
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| 10.8 million passengers flew with Norwegian in 2009 |
| [Norwaynews] [10.01.2010, 04:47pm, Sun. GMT] |
| Norwegian experienced strong passenger growth last year and flew 18 per cent more passengers than the previous year. In total, 63 new routes were established; 30 in Denmark, 18 in Sweden and 15 new routes in Norway. In December, Norwegian transported 815 562 passengers. This is an increase of 163 667 passengers or a 25 percent increase from the same month last year. The traffic figures for 2009 demonstrate that more passengers prefer to travel with Norwegian, said Bjørn Kjos, Chief Executive Officer of Norwegian. |
| | | | Telenor to launch mobile operations in India on Thursday |
| [Reuters] [02.12.2009, 06:16pm, Wed. GMT] |
| Norwegian telecom firm Telenor (TEL.OL: Quote, Profile, Research) will become the 12th operator in the Indian market when it launches its operations on Thursday, a company statement said. Intense competition has been a hallmark of the telecommunications industry in the world's second-most populous country, where it is driving drastic cuts in call charges. Last year Telenor bought into a nascent telecom firm floated by Indian realty Unitech Ltd (UNTE.BO: Quote, Profile, Research), and it will launch its services under the Uninor brand in different parts of Asia's third-largest economy. |
| | | | Age limit on cell phone subscription |
| [Norwaynews] [29.11.2009, 06:33pm, Sun. GMT] |
| From March 1st next year, Norwegian youngsters under the age of 18 will from have to obtain permission from parents before entering into a mobile phone subscription, the Consumer Ombudsman has decided. The decision comes after the Ombudsman has received an increasing number of complaints from parents who object to their children's large phone bills. We must put an end to the practice that youngsters down to the age of 12 are tricked into subscribing to ringing signals and other mobile phone services without the consent of their parents, says Consumers' Ombudsman Bjørn Inge Thon. The cell phone is today much like a credit card, says Thon. |
| | | | Telenor to invest $1b in India |
| [Norwaynews] [13.11.2009, 08:37pm, Fri. GMT] |
| Norway-based Telenor group, one of leading telecom operators in the world, will soon launch its mobile service in India under the brand name Uninor. Telenor has entered India through a joint venture with Unitech Ltd. It has so far invested $500 million in the JV for the 49 per cent stake and will soon bring in another $ 500 million to raise its stake in the JV to 67 pc. Briefing reporters, Telenor Group President and CEO Jon Fredrik Baksaas said “all the money that we are bringing in will be fully invested for the operations of the company.” |
| | | | Norway appoints Johnsen as new finance minister |
| [Reuters] [20.10.2009, 11:30am, Tue. GMT] |
Norway's Prime Minister Jens Stoltenberg picked Labour veteran Sigbjoern Johnsen as finance minister on Tuesday, in an expected cabinet reshuffle following last month's parliamentary election victory by the centre-left. Johnsen, 59, was finance minister between 1990 and 1996, helping steer Norway out of a banking crisis and deep recession. This time, he will be tasked with helping the Norwegian economy recover from the global downturn and scale back record-high government spending launched during the crisis.
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| | | | UK and Norway to explore subsea electricity connection |
| [Norwaynews] [09.10.2009, 05:14am, Fri. GMT] |
| UK electricity network operator National Grid has announced it is working with its Norwegian counterpart Statnett on a possible subsea electricity connection. If the plans to link the UK and Norway’s power grids go ahead, the connection would be the world’s longest subsea electricity cable. A UK-Norway high voltage direct current (HVDC) could connect up offshore wind farms and oil/gas platforms as well. It could form the backbone of a new North Sea ‘supergrid’, say the companies. The connection would allow a two-way flow of electricity between Norway’s existing hydro power plants and the UK’s coal-fired power stations, but in future would facilitate increased wind power capacity. |
| | | | Easier to get work for EEA citizens |
| [Norwaynews] [01.10.2009, 05:07pm, Thu. GMT] |
| Citizens from countries in the European Economic Area (EEA) will from October 1st no longer need a residence permit to take a job in Norway. All they need to do is to register with the police. The new regulations apply to citizens from all EEA nations, except Romania and Bulgaria. The new regulations are part of a new directive which will secure citizens from EU and EEA nations the right of free movement within the region. |
| | | | Norway's StatoilHydro considers new oil ventures in Venezuela |
| [Norwaynews] [25.09.2009, 05:32pm, Fri. GMT] |
| StatoilHydro said on Thursday it was looking for new business in Venezuela after the state-run oil company Pdvsa said the Norwegian oil and gas producer was a candidate for its Junin 10 oilfield project. "We have interests in Venezuela, and we have had for a long time, and we are looking to see if there will be new business opportunities in Venezuela," spokeswoman Mari Dotterud said. On Wednesday, Pdvsa reported that it was still choosing partners for its Junin 10 oil field, after it said that it has awarded the project to France's Total. |
| | | | Norwegian expands flight schedule to Dubai for winter |
| [Norwaynews] [24.09.2009, 05:40am, Thu. GMT] |
Privately-owned low-cost carrier Norwegian will increase its four-days-a week timetable for flights from Scandinavia to Dubai to a daily service during the winter season 2009-10. "This obviously shows the increased interest for the UAE among Scandinavians for both business and pleasure," Erik C. Furu, First Secretary in the Norwegian Embassy in Abu Dhabi, told Gulf News. The carrier, which commenced Dubai flights last autumn, will fly three times weekly from Oslo and Stockholm each and once weekly from Copenhagen starting from October 15. |
| | | | CEO meets UK energy minister in London |
| [Norwaynews] [17.09.2009, 09:22pm, Thu. GMT] |
| Chief executive Helge Lund and UK minister for energy and climate change Ed Miliband met in London on Tuesday September 15, to discuss issues relating to StatoilHydro’s business in Britain. Miliband underlined UK’s good relationship with Norway and StatoilHydro. He stressed the company’s important role as a reliable supplier of natural gas to the UK market. The minister also expressed interest in the Sheringham Shoal wind farm project, writes StatoilHydro on their website. |
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Special Interest
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Akershus
The world's larges tobacco company Phillip Morris International (PMI) is taking the Norwegian state to court. PMI wants the Norwegian ban on displaying tobacco products in stores lifted, Dagens Næringsliv reports. There is no scientific evidence that the ban has any health effect, says PMI communication director Anne Edwards to the newspaper. She points to Iceland, which introduced the ban against the display of tobacco in stores in 2001.
