Tagged: economic downturn

Near the bottom of the cycle?

The Norwegian economy remains clearly in recession after four quarters of moderate growth in GDP for Mainland Norway. Increased domestic demand is expected to stimulate growth. But there will not be an appreciable upswing...

Still slow growth in the mainland economy

Gross domestic product (GDP) for mainland Norway increased by 0.1 per cent in the 1st quarter of 2010. Growth in both household and general government final consumption expenditure made a positive contribution, while gross...

Revised National Budget 2010

The Norwegian economy has performed better than most other industrial countries during the financial crisis and global recession. Expansionary monetary and fiscal policies, along with extensive credit and liquidity measures, have helped to mitigate...

Stoltenberg fear new financial crisis

Prime Minister Jens Stoltenberg fear another backlash that could break the world economy. The reason is debt problems in Greece and the fear that the big economic problems will spread to other debt-ridden countries,...

Number of bankruptcies levels off

In the fourth quarter of last year, the number of bankruptcies was 1,183. That was an increase of only 0.7 per cent compared with the same period of the previous year. However, in 2009...

Despite Energy Reserves, Norway Slips Into Recession

The slowdown in global economic activity has tipped Norway into recession, despite the country’s deep oil reserves and strong budget position. Gross domestic product for Norway, excluding petroleum-related activity, contracted by 1 percent during...

Teekay flag-out sparks fear of job cuts

TEEKAY Shipping Norway is set to flag out some or all of its nine Norwegian-registered shuttle tankers, in a move that could cost hundreds of Norwegian ratings jobs.  According to the company, the decision...

Norway to unveil banking support package on Feb. 9

By Aasa Christine Stoltz and Camilla Knudsen OSLO, Feb 5 (Reuters) – Norway’s planned banking support package, due out on Feb. 9, is expected to ease corporations’ access to refinancing but may fail to...

SAS’s Unpleasant Surprise

The Scandinavian airline group posts a wider loss than anticipated and wants investors to buy a new issue of its shares. Partially owned by government? It is proving both a blessing and a curse...