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Norway Heats Up as Wealth Fund Nears $1 Trillion

Business

Category: Financial / Investment

The Labor government, which resigned yesterday, presented what it called a “cautious” budget, saying it would use 135 billion kroner ($22 billion) of Norway’s oil wealth to plug deficits next year, equal to 5.5 percent of mainland gross domestic product. That leaves Solberg’s administration with 54 billion kroner to spend before it breaches the nation’s […]

Source: Bloomberg

Published: October 21, 2018


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Obama Calls Norway’s New Prime Minister

Business

Category: Government

Obama and Prime Minister Erna Solberg spoke by phone. The White House says Obama congratulated Solberg on becoming prime minister and told her that he looks forward to meeting her in person. The two leaders discussed security in the Middle East, including support for destroying Syria’s chemical weapons. Global health and both nations’ efforts to […]

Source: The Washington Post

Published: October 21, 2018


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New Government Unveiled

Business

Category: Government

Solberg, Norway’s second female prime minister, appointed women to half of the cabinet posts, in line with an unwritten rule about gender equality, and for the first time, the top two jobs will be held by women. The new government, promising to lower taxes, reduce the economy’s reliance on the vast oil sector, invest heavily […]

Source: Reuters

Published: October 21, 2018


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Asset Managers Add to Calls for $750B Norwegian Wealth Fund to Invest in Alternative Energy, Infrastructure

Business

Category: Financial / Investment

KLP and Storebrand ASA, with combined assets under management of 780 billion Norwegian kroner ($130.1 billion), have joined several environmental organizations and the Oslo Catholic Church in calling on new Prime Minister Erna Solberg to make the changes to the fund’s structure. Currently, the sovereign-wealth fund—formally called The Government Pension Fund Global—has 35.7% of its […]

Source: The Wall Street Journal

Published: March 10, 2013


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Founded by Røkke, American Seafoods Company Celebrates 25 Years

Business

Category: Seafood

As it grew from a small start-up with just one pollock catcher-processor to a company that today oversees a super-efficient fleet of six catcher-processors – fishing up and down the West coast from Oregon to Alaska – it took on the challenges of an unpredictable industry. Back in the 1970s, the US. industry knew little […]

Source: Norwegian American Weekly

Published: April 10, 2013


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