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NY Reviewer: Equinor to Depart U.S. Lobby Group IPAA over Climate Policy

Business News, Energy,

Equinor will depart industry lobby the Independent Petroleum Association of America (IPAA) over a disagreement about climate policy, the energy generator stated Friday.

The Norwegian firm is undertaking a review of its memberships of sector associations under a settlement with a group of institutional buyers, the Climate Action 100+, signed last April.

Particularly, Equinor cited the IPAA’s support for the U.S. Environmental Protection Agency’s (EPA) reversal of U.S. federal methane laws, which the corporate criticized.

Read entire article HERE.

CNBC: WHO officials enroll first patients from Norway and Spain in ‘historic’ coronavirus drug trial

Business News, Health, , , ,

The first patients in a “historic” drug trial to test treatments for the coronavirus have been enrolled in Norway and Spain, World Health Organization officials announced Friday.

World health officials are testing four of the most promising drugs to fight COVID-19, including malaria medications chloroquine and hydroxychloroquine, an antiviral compound called Remdesivir, a combination of HIV drugs Lopinavir and Ritonavir and a combination of those drugs plus interferon-beta.

Read entire article HERE.

Hellenic Shipping: DNV GL’s remote surveys surge with 15,000 completed since launch

Business News, Shipping & Offshore, ,

DNV GL introduced remote surveys in October 2018. More than 15,000 surveys have been completed remotely since then.
The impact of the global COVID-19 crisis has reinforced the value of DNV GL’s industry first remote survey services. With some 15,000 surveys and inspections undertaken since the launch in October 2018, customers have benefited from greater flexibility and efficiency through the continued digitalization and integration of DNV GL’s class services.

At DNV GL it is vital our customers continue to operate and deliver without disruptions to class services, and at the same time it is essential not to compromise the safety of crews and surveyors. While our offices, surveyors and experts remain to be in operation, remote surveys have provided the flexibility customers need, with global round the clock coverage, and improved efficiency through reduced travel times and increased availability.

Read entire article HERE.

Forbes: How Norway’s Travel Industry Is Coping Amid Coronavirus Lockdown

Airline / Travel, Business News, Entertainment & Lifestyle, ,

Tourism in Norway had been booming for a decade. Overnight stays in 2019 increased for the sixth successive year, hitting a new record of 35.2 million guest nights—a figure that excludes private rentals such as AirBnB and the ever increasing number of day visits from cruise ship passengers. Almost 170,000 people work in the tourism sector in Norway, approximately 6.7% of the country’s workforce. Everyone in the industry had expected another record-breaking year. Then came the emergency coronavirus measures implemented to try and stop the spread of COVID-19.

Since March 16, Norway’s borders have essentially been closed to all non-residents. While domestic travel remains possible, the authorities have strongly advised against all but essential travel. The recent ban on overnight stays in cabins and several municipalities introducing quarantine regulations for anyone returning home has brought the travel industry to an unprecedented halt. With the emergency measures extended until April 13, the industry—and its employees—are facing an uncertain future.

Read entire article HERE.

Reuters: Hedge fund manager to lead Norway sovereign fund after $124 billion loss

Business News, Financial / Investment, , ,

OSLO (Reuters) – Norway’s sovereign wealth fund, the world’s largest, named a London-based hedge fund manager as its new chief executive on Thursday and said it had lost $124 billion (104 billion pounds) this year as stock markets tanked due to the coronavirus pandemic.

Norwegian-born Nicolai Tangen, until now chief executive of AKO Capital, which he established in 2005, will take the helm in September, succeeding Yngve Slyngstad who announced his resignation last year.

“Tangen has built up one of Europe’s leading investment firms and has delivered very good financial results as an international investment manager,” Norwegian central bank Governor Oeystein Olsen said while announcing the appointment.

Read entire article HERE.

Press Release: Biogen Foundation Commits $10 Million to Support COVID-19 Relief Efforts in the US and Around The World

Business News, ,

CAMBRIDGE, Mass., March 16, 2020 (GLOBE NEWSWIRE) — Biogen Inc. (Nasdaq: BIIB) today announced that the Biogen Foundation has committed $10 million to support global response efforts and communities around the world impacted by the COVID-19 pandemic. The funds will be used to address immediate critical needs, with the majority of donations going to support non-profit organizations in the U.S., including Massachusetts and North Carolina, in Italy and in other impacted countries worldwide. This donation will be used to help expand testing options, ease the strain on medical systems, provide training for front line health workers and support access to necessities like food. This adds to the donation made by Biogen China to the Red Cross Society of China.

The company has also provided medical equipment and supplies to Partners HealthCare in Massachusetts, to help diagnose COVID-19 in a greater number of people. Partners HealthCare is one of the largest providers of healthcare services in the Boston area. Biogen will also be supporting Massachusetts General Hospital and Brigham and Women’s Hospital directly as they work on the front line to treat and contain the virus.

“We are deeply affected by the impact of COVID-19 globally and we understand the critical importance of access to testing and other materials to support healthcare providers,” said Michel Vounatsos, CEO at Biogen. “It is vital that we act immediately to support those who are on the front lines caring for the health and well-being in all communities affected around the world. Our hope is that this commitment will support these courageous organizations, and the vulnerable, during this unprecedented time.”

“This pandemic is precipitating a series of unprecedented challenges and it is having a critical impact in our community and on people around the world,” said Anne Klibanski, M.D., President and CEO of Partners HealthCare. “I believe it is how we rise to meet these challenges that defines us.”

About the Biogen Foundation
The Biogen Foundation supports access to science education and to essential human services for children and their families in the communities in which Biogen facilities are located. The Biogen Foundation is committed to sparking a passion for science and discovery, supporting effective science education initiatives and strengthening efforts to make science education and science careers accessible to diverse populations.

About Biogen
At Biogen, our mission is clear: we are pioneers in neuroscience. Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases as well as related therapeutic adjacencies. One of the world’s first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today Biogen has the leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, commercializes biosimilars of advanced biologics and is focused on advancing research programs in multiple sclerosis and neuroimmunology, Alzheimer’s disease and dementia, neuromuscular disorders, movement disorders, ophthalmology, immunology, neurocognitive disorders, acute neurology and pain.

We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media – Twitter, LinkedIn, Facebook, YouTube.

Read original press release HERE.

Market Watch: Ford partners with GE, 3M to build ventilators, COVID-19 protective equipment

Business News, , , ,

A car maker, industrial conglomerate and Post-it Notes maker said Tuesday they are working together to help ease the COVID-19 national emergency, as they look to boost production of equipment to help prevent the spread of the novel coronavirus.

“This is such a critical time for America and the world. It is time for action and cooperation,” said Bill Ford, executive chairman at Ford Motor Co. “By coming together across multiple industries, we can make a real difference for people in need and for those on the front line of this crisis.

Read entire article HERE.

Message from AmCham Board Chair Rajji Mehdwan

AmCham News

Message from AmCham Board Chair Rajji Mehdwan

Dear All,

We are in an exceptional moment of our lifetimes right now. We know that the current situation is very challenging at a number of levels. Of course, first and foremost, for individual patients who are affected and their loved ones. But also, for the entire healthcare system and broader Norwegian fabric of life. Our society is in lockdown, with the strictest and most radical measures Norway has seen in peacetime in place. Our daily lives have been turned upside down – and the coherence of communities has been put to a major pressure test.

Rajji Picture 1

I am aware that many of you have had to make really tough decisions over the last couple of weeks, in order to adapt your organizations and businesses to these unprecedented circumstances. The crisis we are collectively going through will change the landscape for several industries for years to come. 

In this challenging situation – I wanted to take a moment and share my deepest gratitude for all the great work you are all doing to help our society in Norway in our joint battle against the coronavirus. I am so proud and humbled by all that I have heard from Jason and read about your incredible contributions in the press. Thank you!

"“We are a pioneer group of companies in AmCham – the best in our fields for innovation, in science, in technology, in logistics, and in several other important areas…Not one of us can do this alone. It is only together, in supporting each other and our public partners, we will win.”
Rajji Mehdwan
AmCham Board Chair & General Manager, Roche Norge

We are a pioneer group of companies in AmCham – the best in our fields for innovation, in science, in technology, in logistics, and in several other important areas. I am confident with our expertise we can make a tremendous contribution when our community needs us most. Let’s continue creatively finding solutions to problems big and small that will make a difference, with a deep respect and support for our colleagues and friends who have lost their jobs, and our frontline employees who are putting themselves at risk every day to help our community.  

The situation remains challenging and likely will remain so for the foreseeable future. Not one of us can do this alone, it is only together, in supporting each other and our public partners, we will win.  

Thanks for your resilience. I am super proud and honored to have this opportunity to serve you.

Rajji 

AmCham Digital Dugnad

AmCham News

AmCham Digital Dugnad

Inspiringly, AmCham member companies are swiftly ramping-up their respective COVID-19 support programs for Norwegian civil society. This is especially true of our tech industry members – within healthcare, online education, cyber security, and communications support. Joined by member representatives from Microsoft, Cisco, Roche, Oracle, AWS, IBM, and SAS Institute, Managing Director Jason Turflinger thus convened the first AmCham Digital Dugnad call to explore collaborative ways in which member companies can further assist the Norwegian public and SME sectors during this unprecedented time of need.

Current free-licensing, trusted information, eLearning, work from home, and online platform scale-up offerings are being augmented and enhanced by newly spawned alliances like The High Performance Computing Consortium (AWS, IBM, Google, and Microsoft) and Virtual Classroom Live (Cisco and IBM). Across the board, it was agreed that there is a need for increased practical technology assistance and support of Norway’s strained public authorities.

AmCham’s companies stand ready and willing to assist – please CONTACT US for ongoing dugnad coordination!

Digital Dugnad Picture

Bloomberg: After 350% Jobless Jump, Norway Unemployment Is Worst Since WWII

Business News,

Norway’s unemployment rate shot up to the highest level since World War II, as the economic shutdown brought on by the coronavirus sends the richest Nordic economy into shock.

The number of Norwegians seeking unemployment benefits rose almost 350% in the past two weeks, after companies temporarily laid off tens of thousands of workers to cope with the loss of demand triggered by the spread of the virus. Registered unemployment is now 10.4%, which is the highest on record for the measure.

Read entire article HERE.