There has been reporting in the press that we are “threatening” to leave Europe because of the uncertainty over EU-US data transfers mechanisms. This is not true. Like all publicly-traded companies, we are legally required to disclose material risks to our investors. Last week, as we have done in our previous four financial quarters, we disclosed that continuing uncertainty over EU-US data transfers mechanisms poses a threat to our ability to serve European consumers and operate our business in Europe.
All posts by Margrethe Harboe
Norway to launch 1.5 gigawatt offshore wind tender
OSLO, Feb 9 (Reuters) – Norway will launch later this year its first tender for bottom-fixed offshore wind turbines in the southern North Sea, planning to develop 1.5 gigawatt of electricity that will supply the Norwegian mainland, the country’s government said on Wednesday.
Offshore wind is seen as a key new industry offering a potential transition for Norway’s dominant oil and gas sector to a renewable energy future, while building on the existing industry’s technical know-how.
AmCham Nordics Go Live to the White House
AmCham Nordics Go Live to the White House
AmChams Norway, Sweden, Denmark and Finland hosted an exclusive, informative briefing with guest speaker Peter Harrell, Senior Director for International Economics and Competitiveness on The White House National Security Council.
Live from Washington, D.C., Harrell discussed Biden administration transatlantic priorities – focusing on data flows, digital trade tax and regulation, new Trade & Technology Council (TTC) aspirations, continued steel and aluminum disputes, and ambassadorial appointment delays. “We can expect a Privacy Shield negotiation submission from the US within the next couple of weeks,” stated Harrell – with a minimum of two months expected before eventual Brussels approval and final resolution.
Intuitively understanding top of mind concerns for the 100+ pan-Nordic executives on the call, Harrell also provided perspectives on unfolding Ukraine developments.
On behalf of their respective member participants, AmCham directors posed subsequent questions on sustainable investments, 5G, inflation, supply chains, US political balance, and European data localization initiatives vs. old fashioned protectionism. Through each detailed response, Harrell’s mastery of specifics was apparent and enlightening.
About Peter Harrell
Peter Harrell serves as Senior Director for International Economics and Competitiveness on the White House National Security Council (NSC) staff for the Biden administration. Harrell is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). He previously served in the Obama-era state department, from 2012-2014 as a Deputy Assistant Secretary for Counter Threat Finance and Sanctions within the Bureau of Economic and Business Affairs, and from 2009-2012 on the Policy Planning staff.
Peter Harrell
Karen Spens appointed as new President at BI Norwegian Business School
The Board of Trustees has appointed Karen Spens as President for the fixed term period 1 August 2022 – 1 August 2026. Spens comes from the position as rector of Hanken School of Economics.
The Board of Trustees appoints Spens after a unanimous recommendation from the nomination committee. The Chair of the Board, Åse Aulie Michelet, is very pleased that Spens has accepted the position.
“Karen Spens has a long and relevant experience through different leadership roles in academia and has achieved very good academic and financial results. Spens also has a large international network, and she has experience from stays at several universities, amongst others in the USA. In addition, Karen Spens is known to be a committed and development-oriented leader. These are qualities I believe is important to be a good and unifying president for everyone at BI,” says Michelet.
Tilleggsavtalen med USA vil styrke Norges sikkerhet
Tilleggsavtalen om forsvarssamarbeid med USA vil styrke Norges sikkerhet og bidra til en positiv utvikling av vår egen forsvarsevne.
Med utgangspunkt i et sterkt nasjonalt forsvar, er samarbeid med NATO-allierte og våre nordiske naboland nødvendig for å ivareta Norges sikkerhet. Våre sikkerhetspolitiske omgivelser er i rask endring, og det blir stadig mer krevende for Norge å ivareta våre sikkerhets- og forsvarspolitiske interesser. Økt stormaktrivalisering og mer høyteknologiske våpen med større skadepotensiale og lengre rekkevidde er en del av dette bildet. I tillegg blir de tradisjonelle skillene mellom fred, krise og krig mer uklare. Vår evne til raskt å kunne motta allierte forsterkninger har derfor blitt enda viktigere.
Report Launch: Multinational Healthcare Investment in Norway: Fulfilling Potential
Today we proudly launch our Multinational Healthcare Investment in Norway: Fulfilling Potential report, assessing Norway’s ability to grow its engagement within a life-saving – and particularly competitive – global industry. We thank all industry leaders who have contributed with their first-hand insight and healthcare perspectives on Norway’s greatest existing barriers – and most promising recommendations for growth.
Available in both English and Norwegian, the report was authored by Oslo Economics’ Erik Magnus Sæther and his team on behalf of AmCham Norway.
Thank you to AmCham members who supported this publication: Abbvie, Amgen, Biogen, Bristol Myers Squibb, GSK, Janssen, MSD, Pfizer, Roche, Sanofi, Takeda, and Thermo Fisher.
Read the report HERE.
FedEx and Microsoft announce new cross-platform logistics solution for e-commerce
MEMPHIS, Tenn., and REDMOND, Wash. — Jan. 24, 2022 — FedEx Corp. (NYSE: FDX) and Microsoft Corp. (Nasdaq: MSFT) on Monday announced the next solution as part of their multiyear collaboration to transform commerce, supply chains and logistics. FedEx and Microsoft will bring together FedEx network intelligence with capabilities from Microsoft Dynamics 365 to introduce a cross-platform “logistics as a service” for retailers, merchants and brands.
2022 US Economic Outlook
2022 US Economic Outlook
AmCham Denmark members joined their fellow AmCham Nordic colleagues for a 2022 U.S. Economic Outlook featuring the U.S. Chamber’s Senior Economist, Curtis Dubay.
In 2022, the Biden administration and its economic team will focus closely on transatlantic trade and a host of other critical economic issues. As part of the $1.2 trillion Bipartisan Infrastructure Bill, there will be an abundance of U.S. infrastructure project opportunities for specialized Nordic suppliers.
Curtis Dubay - Senior Economist
Garrett Workman - Senior Director, European Affairs
During this virtual session, the U.S. Chamber’s Curtis Dubay told the virtual audience that the U.S. economy was strong, but that rising inflation was a cause for concern. Dubay also discussed how past and future policy initiatives, including the Bipartisan Infrastructure Law, will impact the performance of the U.S. economy in the year ahead.
Additionally, Garrett Workman, Senior Director of European Affairs at the U.S. Chamber, shared key areas of development in transatlantic trade policy.
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Norway wealth fund earns second-highest return in 2021
OSLO, Jan 27 (Reuters) – Norway’s sovereign wealth fund, the world’s largest, earned a return on investment of 1.58 trillion Norwegian crowns ($177 billion) last year, the second highest on record, with the biggest boost coming from tech stocks, it said on Thursday.
The $1.3 trillion fund’s return on investment stood at 14.5% for the year, which was 0.74 percentage point higher than the return on the fund’s benchmark index.
“The good results are mainly due to very strong developments in the equity market throughout the year,” Chief Executive Nicolai Tangen said in a statement.
Rising Leaders: Empowering Your Own Growth
Rising Leaders: Empowering Your Own Growth
Rising Leaders participants and AmCham members were joined by Thomas Enstad, Managing Partner at Hudson Nordic, who provided inspirational insights and tools for presenting oneself while evaluating motivating factors.
Enstad began the discussion by enlisting participant opinions on the qualities that make a good leader. He went on to explain the process that his team undergoes to identify and accentuate the best traits in leaders, enabling them for success.
Executive Presence
Executive presence is the combination of personality and character traits that make a dynamic executive. It’s the ability to inspire others to be assertive in their roles through the consistent demonstration of confidence and clear leadership.
Executive presence can be defined in three aspects: the ability to build trust (Character), establish credibility (Substance), and drive execution through others (Style). Enstad expertly explained the facets of each, then asked Rising Leaders to reflect upon areas they recognized in themselves, where they felt challenged, and how they could improve.
Speaker
Thomas Enstad
Managing Partner
“Within the current great resignation, the more traditionally led organizations have been the hardest hit...the focus has transitioned to become much more human-centric, focusing on employee well-being.”
Thomas Enstad, Hudson Nordic
Outlining a “Personal Development Plan,” Enstad encouraged participants to unleash their true potential by creating opportunities to think about personal goals and ambitions in a structured way.
Organizations are observing a generational shift in leadership; whereas leaders traditionally have focused on external stakeholders, there is now an altered perception of leadership and how we create results. “Within the current great resignation, the more traditionally led organizations have been the hardest hit,” said Enstad. The focus has transitioned to become much more human-centric, focusing on employee well-being, with Enstad noting that female-led companies are better able to retain talent. Further, the pandemic has also contributed to an increased focus on work-life balance.
About the Rising Leaders Program
Rising Leaders, a joint AmCham-US Embassy initiative, brings together entrepreneurs, young professionals, and student leaders in an innovative program that promotes diversity and connects promising talent. Through the program, participants engage international business leaders, learn about AmCham member companies, explore careers, and gain business and leadership skills.
The 2021-2022 Rising Leaders class – comprised of 18 women and 10 men between the ages of 22 and 35 – bring with them experience from healthcare, classical music, urban planning, organizational psychology, immigration, engineering, communications, technology, teaching, economics, finance, and marketing. All 28 program participants have demonstrated leadership, entrepreneurial, and/or business excellence in their educational pursuits and careers thus far.
For more information about the program, or to learn how your organization can get involved, please contact Madeleine Brekke.
Rising Leaders Afterwork with PortalOne
January 3, 2023
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For the last afterwork of 2022 and the program finale, Rising Leaders participants and AmCham members had the opportunity to visit hybrid gaming company and Norwegian unicorn, PortalOne’s brand new offices at Aker Brygge.
Rising Leaders Afterwork with Airthings: From an Idea to a Global Scale Up
November 24, 2022
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Rising Leaders and AmCham members gathered at Airthings’ Oslo headquarters in November. CTO and Co-Founder Erlend Bolle kicked off the meeting with a candid, humorous retelling or the Airthings story, highlighting key moments in their incredible journey from Norway-based startup to international scaleup.
Rising Leaders: External Perspectives with Pablo Barrera Lopez
May 4, 2022
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Rising Leaders participants visited Yara International’s headquarters where they were welcomed by Senior Vice President of Food Systems Transformation, Pablo Barrera Lopez.