Tagged: Financial crisis

Healthy profits and lower-than-expected write-downs

DnB NOR recorded profits of NOK 1.689 million in the fourth quarter of 2009, up from NOK 1.629 million in the year-earlier period. Profits for the year came to NOK 7.026 million, which demonstrates...

Less foreign tourists to northern Norway

Recent numbers show that foreign tourist have been absent in northern Norway in the first half of 2009. NHO Travel Northern Norway blames it on financial crisis. The number of foreign tourists has gone...

Thriving Norway Provides an Economics Lesson

OSLO — When capitalism seemed on the verge of collapse last fall, Kristin Halvorsen, Norway’s Socialist finance minister and a longtime free market skeptic, did more than crow. As investors the world over sold...

Karmsund shipyard files for bankruptcy

OSLO, March 10 (Reuters) – The Karmsund shipyard in western Norway has filed for bankruptcy, its owner Karmsund Maritime AS said on Tuesday. The unlisted group said its Karmsund Maritime Services AS (KMS) unit,...

Healthy profits for DnB NOR in 2008

On Thursday (Feb. 12) Dnb NOR, Norway’s largest bank, reported a 62 percent drop in fourth quarter net profits, due to volatile markets amid the financial crisis, but said the company’s earnings were “healthy.” “We are satisfied...