NEWS

Financial / Investment

FOREX-Norway’s Crown Leads Charge vs. U.S. Dollar After Cbank Rate Hike

Category: Business News

Norway’s crown led currencies against a struggling dollar on Thursday after the Norges Bank became the first central bank in the developed world to raise interest rates in the post-pandemic era. Norway’s decision to hike interest rates a quarter of a percentage point to 0.25% overshadowed a decision by the Federal Reserve to start tapering […]

Source: Reuters


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KKR to Acquire Norway-based Ocean Yield in €689m Deal

Category: Business News

Global investment firm KKR is investing about NOK7.2bn (€688.6m) to buy Ocean Yield, a Norway-based ship owning company with investments in vessels on long-term charters. Octopus Bidco, a company owned by KKR funds, is offering the Oslo Stock Exchange-listed owner’s shareholders NOK41 for each share. The amount per share being offered represents a premium of […]

Source: IPE Real Assets


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Norway Set for Rate Hike as Economy Accelerates, Statistics Agency Says

Category: Business News

OSLO, Sept 3 (Reuters) – The Norwegian economy is set to grow rapidly in the next several years as it recovers from the impact of the pandemic, setting the stage for an imminent central bank rate hike, Statistics Norway (SSB) predicted on Friday. “The reopening of society is well underway, and the upswing in the […]

Source: Reuters


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Norwegian Government Proposes Overhaul of Petroleum Tax System

Category: Business News

OSLO, Aug 31 (Reuters) – Norway’s government has proposed overhauling taxation of its oil and gas firmsby scrapping some incentives, it said in a surprise announcement on Tuesday, further heating up a pre-election debate over the future of the country’s top industry. If passed by parliament, the proposals would remove deductions that some economists say […]

Source: Reuters


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Banks’ Hidden ESG Risks Exposed in Norway Wealth-Fund Review

Category: Business News

OSLO, Aug 20 (Reuters) – Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, should push firms it invests in to eventually cut their greenhouse gas emissions to nil by 2050, in line with the Paris Agreement, a government-appointed commission said on Friday. Climate risk should also be made a part of the mandate of […]

Source: Bloomberg


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