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Norway’s $1 Trillion Wealth Fund Moves a Bit Closer to Oil Exit
Category: Accounting / Financial
Norway’s $1 trillion sovereign wealth fund cleared a hurdle on its proposed path to exiting oil and gas stocks. The fund won support from key academics at Norway’s top universities, whose responses are part of a hearing process. But more weight will likely be given to the opinion of an expert group, which will give its view […]
Source: Bloomberg
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Preparing to Tighten, Olsen Says It’s Back to ‘Normal’ on Norway’s Krone
Category: Accounting / Financial
Norway’s central bank is revealing how it tried to support its economy at the height of the oil crisis that hit the nation in 2014. It reached for the most powerful tool it had: the nation’s floating currency. In an interview in Oslo on Wednesday, Governor Oystein Olsen said that back then it was clear […]
Source: Bloomberg
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Norway Eases Off Dipping Into World’s Biggest Piggy Bank
Category: Accounting / Financial
Norway expects to withdraw less from its giant sovereign wealth fund this year as a recovery in oil prices is boosting the country’s coffers. Western Europe’s biggest oil and gas producer is turning the page on the oil industry’s deepest downturn in at least a generation after output cuts from OPEC and others, coupled with […]
Source: Bloomberg
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Norway Sticks to Tightening Plan as Rate Held at Record Low
Category: Accounting / Financial
Norway’s central bank kept its signal intact to start raising interest rates in the second half of this year, undeterred by a cooling economic recovery in western Europe’s biggest oil producer. In an interim decision on Thursday, Norges Bank, as anticipated, held its key rate at 0.5 percent. The bank reiterated its message from March that […]
Source: Bloomberg
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Mastercard Pioneers Remote Biometric Card Enrollment with Norwegian Tech
Category: Accounting / Financial
Norwegian company Idex is collaborating with Mastercard to create fingerprint readable credit cards. Mastercard today unveiled a technology advancement for its biometric cards. With biometrics representing the next generation in securing payments, Mastercard developed a way for people to easily and conveniently register their fingerprint onto the biometric card in the comfort of their home. […]
Source: Mastercard
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