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A sigh of relief about the government’s tax policy (post by Helge Singelstad, chairman of Austevoll Seafood ASA) (E24)
It is sad, but for the sake of the companies’ competitiveness, value creation and contribution to society, it is irresponsible if Norwegian owners remain in Norway. The seas
Weakest krone in three years (The online newspaper)
The krone has not been so weak against the euro since the corona pandemic hit its worst. – The krone is one of the currencies in the world that is most closely related to the risk sentiment on the S&P 500. There are several reasons for this. Norway has a small open economy, and this is also because there is usually a positive correlation between the oil price and the stock market, says Østnor. The seas
Double interest rate increase in Europe – took the market to bed (The online newspaper)
The European Central Bank announces on Thursday that the key interest rate will increase by 0.50 percentage points to 3.50 per cent with effect from 22 March. Now the tension is increasing ahead of Norges Bank’s interest rate meeting next Thursday. The seas
– Puts increased pressure on Norges Bank (FInansavisen)
The ECB’s interest rate hike of 50 basis points resulted in a further weakening of the krone. – This certainly puts greater pressure on Norges Bank, says Dane Cekov. The seas
Bank collapses may scare Ida Wolden Bache from interest rate jumps (Online on matter. By editor-in-chief Gunnar Stavrum, Nettavisen)
Bad news for the banks can be good news for your wallet. The seas
Recommends interest rate break (Finansavisen)
– I can’t remember that the warnings have ever been so clear in the past 30 years, says Svein Harald Øygard. Now he calls for a break in interest rates, and believes that fortunes are both lost and created. – We have a solid real economy. It is not a recession, but high employment. Banking crises come with a 10 percent drop in GDP. Now we are around zero. This means that central banks have flexibility. You must not raise interest rates now. Over time you have to, but you just have to watch it a little bit, says Øygard. The seas
Financial veteran Svein Harald Øygard warns after the banking crisis: – The limits of imagination are blown (DN)
The central banks are facing the biggest dilemma in decades, according to Svein Harald Øygard. – The US is completely out of control, he says. The seas
Shouldn’t drop interest rate hikes (Finansavisen)
Things are getting tougher for Norwegian companies, but not so tough that Norges Bank should consider dropping the interest rate hike next week, say the analysts. The seas
Norges Bank survey: Many companies will increase prices “quite a lot” (E24)
The companies in Norges Bank’s regional network foresee a slightly stronger development than they did before Christmas. The majority expect to raise retail prices “quite a lot”. The seas
Activity is leveling off – expect a decline in real wages (Finansavisen)
In the first report of the year from the Regional Network, the participating companies report that activity is leveling off, and that fewer companies have recruitment and capacity problems. The seas
Industri Energi is preparing a strike: – Great distance between the parties (NTB)
The mediation between Industri Energi and the oil service company SLB UK was unsuccessful. The union is now preparing a strike in the company from midnight on March 30. The seas
– Growth in speculation is driving down the oil price (Finansavisen)
Head of analysis for raw materials at SEB, Bjarne Schieldrop, explains that there has been a strong growth in speculative positions in the market and that currently more oil is coming out of Russia than many had thought. The seas
SV peaks will give industry priority over the current (E24)
The heavy industry must be first in the queue to get more electricity, suggests SV tops at this weekend’s national meeting. – Must recognize that all measures are not equally sensible, says Ådne Naper in SV. The seas
– Norway can become Saudi Arabia in offshore wind (Stavrum & Eikeland)
Former Aker CEO Øivind Eriksen and former oil fund manager Yngve Slyngstad are to raise NOK 1,000 billion for pure green investments. They believe that Norway is in a unique situation. If things are done right, Norway can become to offshore wind what Saudi Arabia is to oil. – We have to think big and act now. We are Saudi Arabia in offshore wind, if we want to, says Eriksen. The seas
The government says no to the disputed power cable (VG)
The government rejects NorthConnect’s application to build a new power cable between Norway and Scotland. They say it would have resulted in higher electricity prices. The seas
Dropping the Norwegian-Scottish power cable: – High time (E24)
Industri Energi’s manager Frode Alfheim is delighted that the government says no to the plans for a new power cable to Scotland. – High time that the tenacious cable was sent to the grave for good. The seas
Financial expert on ESG funds: – Reinspikka syringe (The online newspaper)
ESG funds are funds where investments are made in companies that take climate and the environment into account, what social responsibility they have/take, as well as how the company is managed. – A lot of this is total nonsense. It’s a good idea in theory, which has been marketed as a world-saving thing. It is alluring to be able to make money and save the world at the same time. So says editor Robin Wigglesworth for the financial blog “Alphaville” in the Financial Times. The seas
It is easy to fall into the American subsidy trap (comment by Torbjørn Røe Isaksen, society editor, E24)
It is easy to stumble when it comes to the Americans’ massive subsidy package, the IRA. Whether you are a foreign minister or a country. The seas
The European Commission will order oil companies to store CO2 (E24)
By 2030, it will be possible to store 50 million tonnes of CO2 each year on EU territory, if the European Commission gets its way. Offshore Norway believes that the oil companies on the NCS are well underway. The seas
This is how Yara believes that Norway can win the industrial battle with the USA (E24)
The fertilizer giant is not necessarily asking Europe to copy the US in the green industrial race. – We hope that inspiration will be taken, says the Yara boss. The seas
Joins the EU initiative: – Champions League for battery projects (E24)
Five Norwegian battery companies expressed interest in participating in the EU’s battery initiative. Norway is now joining IPCEI EuBatIn. The seas
The food online store Oda is hard on Kiwis: – We had mashed them (VG)
The boss at Oda believes it is a hoax that Kiwi comes out victorious as the cheapest store. The seas
The Norwegian Labor Inspection Authority found violations in seven out of ten inspections (NTB)
The Norwegian Labor Inspection Authority found violations in over 70 percent of the inspections carried out last year. In more than every fourth inspection, five or more violations were found. The seas
Norway provides NOK 2 billion for welfare services in Ukraine (NTB)
Norway is allocating NOK 2 billion in support to Ukraine. The money will help the Ukrainian state to run schools and hospitals and pay pensions. The seas
Now they will hire Norway’s most important bureaucrat (comment by Astrid Meland)
You have hardly heard of him. But the job is said to be more important than that of the governor of the central bank. The seas
The banks’ mismatch (comment by Karl Johan Molnes, Finansavisen)
Before the building, bank head offices were made of marble so that customers would feel their deposits were safe. Now the head offices can look like prisons, because today’s marble is central banks. The seas
High probability of a simple rate hike from the Fed (Finansavisen)
The probability of a double rate hike fell from 68.3 per cent to 0.0 per cent. The seas
– If the Fed is afraid, you should be afraid (Finansavisen)
Steve Eisman believes the US central bank has two potentially bad options for next week’s interest rate meeting. The seas
Scholz: No new financial crisis threat (NTB)
German Prime Minister Olaf Scholz says he does not foresee a new financial crisis after the collapse of Silicon Valley Bank and the turbulence surrounding Credit Suisse. The seas
Industry legend declares: – Globalization in the chip sector is dead. Free trade is dead (DN)
Samsung is to invest NOK 2,500 billion in five ultra-modern computer chip plants in South Korea. The founder of the technology giant TSMC declares globalization in computer chips and free trade dead. The seas
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Also read: This is what the newspapers write about politics on Friday 17 March
Also read: This is what the newspapers write about the stock exchange on Friday 17 March
You can find previous editions her (policy), her (economics) and her (stock market)
