NEWS

Norway to Tamp Down on Oil Spending After Wealth Fund Deposits

Category: Financial / Investment

Norwegian Prime Minister Erna Solberg is ready to start reining in oil spending after the government began putting money back into the sovereign wealth fund again. The Norwegian government in June made its first deposit into its wealth fund since the end of 2015. Now that the economy is in full recovery and the labor […]

Source: Bloomberg

Published: July 16, 2024

Swedish Economy Set to Slow in 2019 as Norway Takes Lead

Category: Financial / Investment

Sweden’s economic prospects have dimmed in recent months and the country will likely be surpassed by Norway as the fastest-growing Scandinavian economy in 2019, a Reuters poll found on Tuesday. It would be the first time in more than half a decade Sweden failed to top the region’s growth league, although it was still set […]

Source: Reuters

Published: July 16, 2024

Norway Keeps Rates Unchanged on Path to Tightening Next Month

Category: Financial / Investment

Norway’s central bank kept its key interest rates unchanged, setting policy makers up for the first tightening in seven years next month. The bank on Thursday held its benchmark at a record low of 0.5 percent, as anticipated by all analysts surveyed by Bloomberg. “The outlook and the balance of risks do not appear to […]

Source: Bloomberg

Published: July 16, 2024

Norway Makes First Deposit to Huge Wealth Fund Since 2016

Category: Financial / Investment

Norway made the first deposit to its $1 trillion wealth fund in almost three years as climbing oil prices and a recovering economy again swell the coffers of western Europe’s biggest crude producer. The Finance Ministry put 1.9 billion kroner ($230 million) into the fund in June, cutting withdrawals this year to 7.9 billion kroner, […]

Source: Bloomberg

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