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Economics   Economics News
Czech Spy found "Working on something big" in Norway ?
[Norwaynews] [15.04.2014, 09:51am, Tue. GMT]
A Czech suspected of being Counter intelligence service Official suffering from “amnesia”, found in a snowdrift in Oslo last December, has began regaining fragments of memory after speaking with his family over the phone. It has come to light that the man, who has gone under the name of John Smith since his rescue, worked for the Czech Interior Ministry. With every turn, the mystery surrounding a 36-year-old calling himself john Smith has deepened, ago it was not ever clear he was Czech, although he understood the language, along with Slovak, Russian and Polish.
 
Economics
Thon Hotels and Glo Hotels join Global Hotel Alliance
[Norwaynews] [11.04.2014, 01:03pm, Fri. GMT]
Global Hotel Alliance (GHA) today announced two new member brands, both from the Nordic region, namely Thon Hotels headquartered in Oslo, Norway, and glo Hotels based in Helsinki, Finland. Together with existing GHA member First Hotels, GHA now has 120 hotels across Norway, Finland, Sweden and Denmark, giving it significant coverage of these important travel markets. Third largest hotel chain and has 9,300 rooms and over 64 hotels in Norway, five hotels in Belgium ' strength, with hotels designed specifically for the business and convention traveller.
 
Incredible Start to 2014 for Norwegian Seafood Exports
[Norwaynews] [09.04.2014, 02:34pm, Wed. GMT]
Norway exported seafood for NOK 16.8 billion in the first quarter of the year. In total, this represents a 25 per cent increase compared to the same period in 2013. The incredible skrei fisheries contributed to a 65 per cent increase in the the export of fresh cod, according to figures from the Norwegian Seafood Council. In the month of March, seafood to the value of NOK 5.6 billion was exported. This represents an increase of 22 per cent or nearly a billion krone compared to last year.
 
Finance Minister wants to close the Ethics Council
[Norwaynews] [07.04.2014, 11:34am, Mon. GMT]
Progress Party-leader and Minister of Finance Siv Jensen has suggested to close the Oil Fund's Council on Ethics. The Liberal Left Party and the Christian Democrats disagree. Neither the Christian Democrats (KrF) or the Liberal Left Party (Venstre) want to support Siv Jensen's proposal to shut down the Council on Ethics. The council is an independent body that evaluates which companies the Oil Fund should invest in.
 
Council reaches sandeel management agreement
[Norwaynews] [26.03.2014, 10:22am, Wed. GMT]
The Council of Fisheries Ministers reached an agreement on the establishment of a total allowable catch (TAC) for sandeel for 2014 in line with the scientific advice. In addition, following the conclusion of the EU-Norway bilateral agreement and the arrangement between Coastal States, a higher TAC of blue whiting is also included in the same agreement (7916/14). This issue of sandeel is of particular importance for Denmark, which is the main stakeholder in the sandeel fisheries.
 
The group of maritime administrations and shipping representatives visits to Norway’s maritime cluster
[Norwaynews] [21.03.2014, 03:20pm, Fri. GMT]
CSG, an informal group of maritime administrations and shipping representatives visited the maritime cluster at Sunnmøre today. In total, the group represented 18 different nations, the company said in its press release. The party consisted of 25 people from the European Commission, several European countries as well as Canada, Japan, the Republic of Korea and Singapore. CSG meets once a year, and this year’s gathering is held in Ålesund and hosted by The Ministry of Trade, Industry and Fisheries.
 
Pilots Union Wants ‘Walmart Of The Skies’ Norwegian Air Banned From US
[Norwaynews] [13.03.2014, 10:48am, Thu. GMT]
An international airline now flying in and out of LAX is offering some of the lowest fares in the world. And while passengers love it, major U.S. airlines and their unions say Norwegian Air is breaking the law and should be banned from the U.S. KCAL9′s Stacey Butler reports the airline just started running international flights from LAX this month, with passengers offered 133 cities to choose from once they get to Europe. Daniel Fahrenkrog was leaving from LAX Wednesday night on his way to Copenhagen, then Paris, then Spain.
 
Posten Norge invests in e-commerce and digital mail solutions
[Norwaynews] [11.03.2014, 01:48pm, Tue. GMT]
Norway’s national postal operator, Posten Norge, has announced it is reorganising its operations to meet a more digital future and will be investing in e-commerce and digital mail solutions. The announcement follows continued declines in letter mail volumes – addressed mail fell by 5.7% in 2013, while the volume of unaddressed mail declined by 7.3%. Despite the drop, the state-owned operator recorded profitability in its mail segment during 2013 due to increased prices for letter services, the retroactive payment of government procurements from 2012 and some cost-cutting measures.
 
Speech at the 30th Interparlamentarian Meeting EU-Norway
[Norway] [08.03.2014, 02:10pm, Sat. GMT]
I am pleased to meet in the European Parliament. Especially in a European election year. These elections matter – also to Norway. The composition of the European Parliament determines policy choices at European level. It has direct consequences for the development of rules governing the internal market – where Norway is fully integrated through the EEA agreement. Indeed, Norway is often called the most integrated outsider. A fitting label. Our most important trading partners are in Europe. In 2013, well above 60 per cent of our imports came from EU member states, and more than 80 per cent of our exports went to the EU.
 
Telenor Norway plans to cut staff by over 10%
[Norwaynews] [07.03.2014, 12:15pm, Fri. GMT]
Telenor Norway plans to cut its headcount by approximately 440 by offering redundancies to all its 4,000 or so staff, reported newspaper Aftenposten on its website. Aftenposten said Telenor Norge CEO Berit Svendsen told Norwegian broadcasting corporation NRK and business newspaper Dagens Naeringsliv that it is planning the reductions as voluntary redundancies. The application deadline is 26 March and departing employees would finish on 01 April. Svendsen also said compulsory redundancies could not be ruled out but they company hoped to downsize via voluntary severances.
 
Marine Minister Addresses North Atlantic Seafood Forum in Norway
[Norwaynews] [05.03.2014, 12:21pm, Wed. GMT]
Ireland's Minister Simon Coveney was guest speaker today at the 9th North Atlantic Seafood Forum in Bergen, Norway. The Minister was invited to speak to open the plenary session of the forum on the importance of seafood for global food security. The Minister was also invited to address the Global Fisheries Policy & Management seminar at the Forum on the new reformed EU Common Fisheries Policy and its impact on the seafood industry. The new Common Fisheries Policy was negotiated to conclusion by the Irish Presidency in 2013. Minister Coveney was the only EU Fisheries Minister to be invited to speak at this prestigious event.
 
Norway voices concern over US/EU trade deal
[Norwaynews] [09.04.2014, 02:36pm, Wed. GMT]
Norway has expressed fears that a probable free trade deal between the United States and the European Union could adversely impact on its fish exports to member states. The country's trade minister, Monica Maeland, has warned that the potential impact could be serious. Only last week Norway announced record seafood exports of 16.8 billion kroners (£1.68bn sterling) for the first quarter of this year.
 
Nordic bank regulators closer to mortgage rule harmony: Norway
[Norwaynews] [08.04.2014, 11:09am, Tue. GMT]
Swedish, Danish and Norwegian financial regulators have moved closer to harmonising mortgage requirements for banks operating across borders in the region, Norway's Finance Minister Siv Jensen said on Tuesday. The rules would force bank subsidiaries in a Nordic countries to set aside capital based on the rules of the host nation in cases when those rules are stricter, rather than on its own domestic regulation.
 
Norway seafood exports boom on $435m salmon sales hike
[Norwaynews] [03.04.2014, 06:54pm, Thu. GMT]
Norway saw its seafood exports boom by 25% in value in the first three months of the year, another record driven largely by a huge increase in salmon sales. The country’s seafood exports topped NOK 16.8bn in the first quarter of 2014, a NOK 3.36bn increase from NOK 13.44bn the same time last year. Much of this hike was driven by salmon sales, which soared by NOK 2.6 billion ($435 million) to NOK 10.7bn over the same period — accounting for 77% of the increase, and 63% of the total export value.
 
Norway expects a 5% to 10% increase in salmon exports to Malaysia
[Norwaynews] [21.03.2014, 03:21pm, Fri. GMT]
Norway expects to increase the volume of its salmon exports to Malaysia this year by 5% to 10% from 1,900 tonnes in the previous year. Norwegian Seafood Council Regional Director South-East Asia, Christian Chramer, said the target would be achieved because of the changing lifestyle of Malaysians. “Apart from healthy lifestyle, the increase in retail growth as well as increasing sushi demand, will also contribute towards higher volume in salmon exports to Malaysia,” he told reporters at the svisit by Norway’s Minister of Trade and Industry, Monica Maeland, to a two-day Norwegian salmon promotion in Malaysia.
 
Norway invests in renewable energy
[Norwaynews] [18.03.2014, 01:02pm, Tue. GMT]
Norway has announced it is to make a major investment in renewable energy, with the European country opening up its sovereign wealth fund to the sector. The news is likely to spark plenty of debate about what the future holds for the renewable energy industry in Norway and the development was immediately warmly welcomed by the World Wildlife Fund (WWF). Nina Jensen, chief executive of the WWF in Norway, stated that the body is "thrilled" Norway has decided to take the lead on renewable energy by making a significant investment in the industry.
 
Norway is the best country in the world for working women
[Norwaynews] [11.03.2014, 01:49pm, Tue. GMT]
Norway, Sweden and Finland are the best countries in the world to live in if you are a woman in the workforce, according to the Economist. The British magazine published a list on March 8, the International Women's Day, which presented the best and worst countries for working women. In the ranking, which only looked at industrialized countries, the magazine has considered data on women's level of education, women's participation in the workforce and in politics, wage differences between genders, the cost of childcare, rights associated with maternity leave, applications to schools that offer economic degrees, and women's representation in management positions and boards.
 
Nordic seminar on the economic benefits of a Cyprus solution
[Norway] [08.03.2014, 02:12pm, Sat. GMT]
Following the recent resumption of the Cyprus peace negotiations Norway together with the Nordic countries have taken the initiative for a Brussels based seminar organised by the Peace Research Institute Oslo (PRIO): “The Cyprus Peace Dividend: A productivity and Sectoral Approach”. The purpose of the seminar which takes place on 6-7 March is to facilitate an experts assessment of the economic benefits derived from a solution to the Cyprus problem. The seminar has as its starting point updated research which aims to quantify the economic prospects of a solution by evaluating how some economic sectors may benefit from a settlement.
 
Telenor Group to invest $1 billion in Myanmar
[Norwaynews] [08.03.2014, 12:04pm, Sat. GMT]
Norway’s Telenor Group has embarked on a $1-billion investment in Myanmar to provide 90 per cent of the population access to mobile coverage, a media report said on Saturday. “We expect to break even within four years,” Sigve Brekkle, head of Telenor Asia, told the Bangkok Post. Qatari firm Ooredoo and Telenor were the winners of 15-year licences in bids last year for mobile services in Myanmar, which currently has about 4-5 million mobile phones for a population of 60 million.
 
Telenor modernises Norwegian fixed access
[Norwaynews] [05.03.2014, 05:29pm, Wed. GMT]
European operator group Telenor has deployed Alcatel-Lucent’s Motive Network Analyser to continuously monitor fixed line broadband connections in Norway as part of a plans to modernise fixed access. According to the vendor, Telenor will acquire improved troubleshooting capabilities when issues arise in the network and optimise each connection to the operator’s 500,000 broadband subscribers.
 
Tele2 confirms Norway exit under consideration
[Norwaynews] [05.03.2014, 08:51am, Wed. GMT]
Tele2 is in the process of evaluating a number of "strategic opportunities" for its Norwegian operations, the company announced. These include entering a strategic partnership, selling Tele2 Norway to one or several parties, or continue growing the business organically as part of the Tele2 Group. ABG Sundal Collier Holding was hired to advise the operator.
 
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