All posts by Margrethe Harboe

A Message from the Managing Director – January 2023

A Message from the Managing Director

Happy New Year!

The promise and hope of a New Year are upon us – with all of the commitments, ambitions and responsibilities that we as business leaders necessarily espouse. AmCham’s professional community is stubbornly optimistic in the face of inflationary pressure, talent shortages, ongoing restructuring, finicky markets, continued rate hikes and taxation innovations.

Most regrettably, we are quickly approaching one year since Russia’s full-scale invasion of Ukraine – and nine years since its illegal annexation of Crimea. Supporting our Ukrainian allies, the transatlantic community has reacted and collaborated admirably over the past year. Let’s do our respective parts to ensure that both collective memories and direct assistance don’t again fade.

Jason Turflinger

During 2023, AmCham Norway will simultaneously celebrate both our 25th and 65th anniversaries – dependent upon how one tallies. We will mark these important milestones together with you over the coming year, proudly and pragmatically (think fewer black ties, more surprises during gatherings).

We will also continue celebrating member favorite undertakings like our Sustainability Forum, Mentorship Program, Healthcare Committee, joint Nordic AmChams programming and Thanksgiving Charity, while acting upon the hard choices to reconfigure and reallocate our finite resources where necessary. We will welcome a new member to Team AmCham in the spring, and I know our extended AmCham member and partner family will welcome them warmly.

The AmCham community, as it turns out, is in a steady and prolonged state of expansion. Never have we had more top-level Patrons amongst our membership ranks, and never have we been more selective as to which new member companies can best contribute to our dynamic business association.

Though it’s sometimes simply assumed that AmCham member representatives are good at their jobs, we do not take the opportunity to connect and work alongside you for granted. We look forward to a year of impact, evolution and excellence together!

GE Healthcare Debuts on Nasdaq and Enters S&P 500

General Electric’s healthcare unit is ready to begin its solo flight on the bourses.

In November 2021, the industrial giant decided to break up into three parts. Its healthcare unit, comprising medical technology, pharmaceutical diagnostics, and digital solutions, starts trading on the Nasdaq under the ticker GEHC tomorrow (Jan. 4).

The healthcare unit is the first one to spin out. Next, in early 2024, GE plans to create a new entity by combining its renewable energy, power, and digital into one business.

Read full article.

Flyr applies for Operating License in the US

LONDON – The Norwegian carrier Flyr has applied for an Operating License (OL) in the United States. The carrier earlier announced the lease of one Boeing 737 aircraft to an unknown lessee, however it is unknown whether these two matters are related.


In a press release issued on December 19, new Norwegian Low-Cost Carrier Flyr announces their application for an Operating License (OL) in the United States.


According to the press release, the application comes after increasing demand in the North American aviation-market, crew and aircraft-wise. The airline shows intention of operating non-scheduled charter and wet-lease operations in and out of the U.S.


Flyr CEO Brede Huser, stated the following on the application: “The shortage of aircraft and crew in the North American market increases the demand for charter and wet-lease operations.”

Read full article.

Every Fifth Car on the Road in Norway Is Now Electric

Norway has reached another milestone in electric-vehicle adoption with every fifth car in the country now emission-free.

The Norwegian Electric Vehicle Association estimates that it will take just under two years for EV cars to reach 30% of total, it said in a website statement on Monday. The share rose to 20% from 1/10 in less than 3 years, it said.

Read full article.

Norway’s Hydro plans wind farm to power industrial plants

OSLO, Dec 19 (Reuters) – Norwegian aluminium maker Norsk Hydro (NHY.OL) and two partners said on Monday they plan to build an onshore wind farm costing between 3 and 4 billion Norwegian crowns ($304 million-$405 million) on Norway’s west coast.

The plant, if approved, would have output of 1 terrawatt hour (TWh) of electricity, providing renewable power to existing and future industry in the Hoeyanger and Sunnfjord region from 50 wind turbines.

Read full article here.

Eksfin has provided the seafood industry with NOK 12 billion in financing

Since 2015, Eksfin has contributed NOK 12 billion in loans and guarantees to the seafood industry.

In recent years, Eksfin (Export Finance Norway) has experienced strong growth in the demand for loans and guarantees for the seafood industry. Eksfin, which is a government supplement to private funding, is impressed by the growth of the Norwegian aquaculture industry, especially thanks to innovation and technological development.

Norway’s export industries, including fisheries and aquaculture, need major technological and financial boosts. This means that the industry, the banks and the state must work as a team. Going forward, we still expect to see growth in loans and guarantees for this important export industry. Tone Lunde Bakker, managing director of Eksfin.

Read full article here.

Kongsberg, Raytheon in 128 mln euro deal to deliver naval missile system to Romania

BUCHAREST (Romania), December 13 (SeeNews) – Norwegian defence related systems and products supplier Kongsberg Defence & Aerospace said on Tuesday it has been awarded a 1.35 billion NOK ($135 million/ 128 million euro) contract by U.S.-based Raytheon Missiles & Defense for the delivery of a Naval Strike Missile (NSM) Coastal Defence System to Romania.

The NSM can be launched from both land-and sea-based platforms and is already in use by, or chosen by 11 countries, Kongsberg said in a statement filed with the Oslo Stock Exchange.

“The NSM-based system will provide Romania with the most modern and effective coastal defence available today. The contract also continues the successful cooperation we have with Raytheon Missiles & Defense,” Kongsberg Defence & Aerospace president Eirik Lie said.

Read full article.

 

WTO says Trump’s steel tariffs violated global trade rules

The World Trade Organization ruled on Friday that former President Donald Trump violated global trade rules in 2018 when he invoked national security concerns to justify his tariffs on steel and aluminum products from around the world.

The Biden administration strongly condemned the decision, which it said was further proof that the WTO dispute settlement system is in need of fundamental reform. It also said it would not remove the duties that Trump imposed.

Read full article.

Europeisk kvalitetsstempel til USN Handelshøyskolen

Bachelor i økonomi og ledelse ved USN Handelshøyskolen er akkreditert av EFMD, det europeiske akkrediteringsorganet for handelshøyskoler. – Viktig for hele USN, sier rektor.

– Dette er en stor dag, sier dekan Hans Anton Stubberud og visedekan for utdanning Birger Opstad ved USN Handelshøyskolen.

Det er bare Universitetet i Stavanger som tidligere har fått akkreditert et studieprogram av EFMD (MSc in Business Administration i 2021). I tillegg har NHH og Handelshøyskolen BI akkreditering på institusjonsnivå (EQUIS).

Stubberud og Opstad beskriver akkrediteringen som en anerkjennelse av bachelor i økonomi og ledelse og kvaliteten på studieprogrammet.

– Vi har jobbet målrettet for å få dette på plass og valgte egentlig den vanskeligste veien, nemlig et program som tilbys på alle USN Handelshøyskolens campuser og som undervises på norsk, men med engelske mobilitetsvinduer på alle campusene.

Les hele artikkelen her.

Equinor wins commercial-scale lease in California – deepens leading floating offshore wind position

San Francisco, California – As provisional winner of a lease area on the Outer Continental Shelf off California, Equinor continues to lead the way in growing the US’ offshore wind industry.

Five leases were offered by the Bureau of Ocean Energy Management (BOEM) in thefirst-ever offshore wind lease sale on the US west coast and the first-ever US sale to support commercial-scale floating offshore wind energy development opportunities. With a bid of USD 130 million for 80.062 acres in the Pacific Ocean, Equinor secured a ~2-gigawatt (GW) lease in the Morro Bay area that has the potential to generate enough energy to power ~750 000 US homes.

Read full article.