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Norwegian crab firm eyes huge potential of Asia markets

king crab

BERGEN: The volumes of king and snow crab available out of Norway may be small, but there’s plenty of money to be made by those companies selling them, as demand from Asian markets heightens. This was the verdict from Erlend Johnsen, sales executive with Honningsvag, Norway-based Cape Fish Sales, speaking at the shellfish session of the recent North Atlantic Seafood ... Read More »

Norwegian cod exports to Portugal rise by 9% in 2016

Norwegian cod exports to Portugal rise by 9% in 2016

OSLO: Norwegian exports of cod to Portugal rose by 9% year on year in 2016 to €271.4 million, totaling 48,603 tons, the Norwegian Fishing Council (Norge) said. Portugal’s national dish is salted cod and there are said to be enough recipes to eat a different Portuguese cod dish on every day of the year. It is traditionally eaten boiled on ... Read More »

Norway plans to scrap airline tax

Oslo Rygge Airport

OSLO: At its national conference, Norway’s governing Hoyre party announced that it plans to scrap a mandatory airline tax connected to last year’s closure of Oslo Rygge Airport. The party wants to replace the flat fee with a new type of tax that would have a “clear environmental effect”. The proposal, which came from the Ostfold division of the party, ... Read More »

Norway February inflation fall to four-year lowest

falls

OSLO: Norwegian consumer prices fell to four-year lows in February, Statistics Norway said, putting pressure on the central bank to maintain an easing bias on interest rates and plunging the crown currency to a four-month low against the euro. Core inflation, which excludes effects of tax changes and energy prices, tumbled to 1.6 percent year-on-year from 2.1 percent in January, ... Read More »

Domino’s takeover Norwegian pizza chain of £4m

Domino’s takeover Norwegian pizza chain of £4m

OSLO: Britain’s biggest pizza delivery firm, Domino’s Pizza Group PLC said that it bought Norwegian pizza chain Dolly Dimple’s from Norges Gruppen for an enterprise value of 4 million pounds ($4.86 million) through its associate Pizza Pizza Norway. Domino’s plans to integrate the Dolly Dimple’s business into their operations in Norway, which currently has 12 operating stores. The combined operation ... Read More »

Norway, UK must have new post-Brexit trade deals

UK-Norway

OSLO: Norway and the UK must enter into new bilateral trade deals post-Brexit that goes well beyond a traditional agreement given the “profound” economic integration between the two countries, including in the energy sector, the Norwegian government said. The UK is increasingly dependent on gas imports from Norway, with pipeline gas supplies in January hitting a new record high, and ... Read More »

Norwegian experts mark trade with China positive

wto

OSLO: Trade frictions between China and the European Union (EU) have their global impact, but Norwegian experts say these frictions could not undermine the relationship between the two sides and overall international trade. They said more transparency and respect of World Trade Organization (WTO) agreements and international regulations will boost cooperation and prevent trade protectionism. China has expressed doubts about ... Read More »

Norway sea food exports declines 19% in February

vn seafood

OSLO: Norway exported 196,000 metric tons of seafood to a total value of NOK 7.5 billion ($889.89 million) in February. This represents a volume decrease of 19% and an increase by value of 6% compared with February last year. ”Salmon prices fell slightly in February, but the average price of NOK 64.11 per kilogram was still NOK9 higher than February ... Read More »

Norwegian GIEK officials discuss trade ties with Tehran

Norwegian GIEK officials discuss trade ties with Tehran

TEHRAN: Officials from Export Guarantee Fund of Iran and Norwegian Guarantee Institute for Export Credits (GIEK) discussed expansion of ties during a meeting held this week in Tehran. The Norwegian export credit agency aims to familiarize itself with Iran’s business ambiance in order to support Norwegian exports. “Several Norwegian firms active in various businesses have shown interest in doing business ... Read More »

Norway Savings Bank invests in Apple Inc.

Norway Savings Bank

OSLO: Norway Savings Bank acquired a new stake in Apple Inc. during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,925 shares of the iPhone maker’s stock, valued at approximately $3,235,000. Apple accounts for about 3.0% of Norway Savings Bank’s holdings, making the stock its 5th largest position. Several ... Read More »

Norway’s €1bn deal with Irish racing tycoons

norway

OSLO: The Norwegian sovereign wealth fund’s €1 billion purchase of a Paris office and retail building from Irish horse-racing tycoons John Magnier and JP McManus was the Oslo-based investors’ largest property deal last year, according to its annual report. The 7,510 billion kroner (€845 billion) Norwegian Government Pension Fund Global, the world’s largest sovereign wealth fund, devoted almost half its ... Read More »

Norwegian Air Shuttle to boost operations in Europe soon

Norwegian Air Shuttle

OSLO: Low-cost carrier Norwegian Air Shuttle is promising to boost traffic at smaller airports on both sides of the Atlantic Ocean when it starts service to Europe this summer from Rhode Island, Connecticut and New York. Norwegian Air announced that it’s opening new flight crew bases and plans to hire pilots and flight attendants at Rhode Island’s T.F. Green Airport ... Read More »

Norwegian authorities looking into Eimskip acquisition of Nor Lines

Eimskip

  OSLO: The Norwegian Competition Authority advised Icelandic shipper, Eimskip, of an objection it has to the company’s acquisition of the Norwegian company, Nor Lines. Eimskip said the advice reflects the authority’s preliminary conclusion and it has 15 business days to present counter arguments before final decision is made. Eimskip entered into an agreement to acquire Nor Lines in November ... Read More »

Norwegian Nel Hydrogen signs contract with California hydrogen fuelling market

Nel logo-h2logic_x2

OSLO: Nel Hydrogen Solutions, a division of dedicated hydrogen (H2) solutions provider Nel ASA, has signed a framework contract representing the company’s largest single order for fuelling stations to date. The deal also “represents the best possible start of entry into the Californian market” for the Norway-based business, according to its CEO Jon André Løkke. Under the framework contract, the ... Read More »

Norway salmon price seen flat to down 1 crown to NOK 61-63 crowns next week

salmon

OSLO: The average price of Norwegian farmed salmon is seen flat to down 1 crown to 61-63 crowns per kilo for deliveries in Oslo next week, industry sources told Reuters on Friday. “So far it’s quiet, and prices diverge. In sum we expect prices to be stable to slightly down, probably around 62-63 crowns in Oslo,” said a producer who ... Read More »

Norway, Cuba eyes for strengthening bilateral relations

Norway, Cuba eyes for strengthening bilateral relations

HAVANA: Cuban Foreign Minister Bruno Rodriguez and State Secretary Laila Bokhari of the Norwegian Ministry of Foreign Affairs expressed the wish of both nations to continue strengthening their relations. During the meeting, held in a cordial setting, both officials debated on the positive state of two-way ties, the Cuban Foreign Ministry reported. Later Laila Bokhari, who is making an official ... Read More »

Kitron’s revenue amounted to NOK 570m in Q4

NORWAY

OSLO: Kitron ASA today reported solid growth, improved profit and increased dividend. Kitron’s revenue in the fourth quarter amounted to NOK 570 million, compared to 525 million in the fourth quarter last year. Operating profit (EBIT) was NOK 34.1 million, compared 33.6 million last year. Net profit amounted to NOK 25.4 million, an increase from 22.6 million. This corresponds to ... Read More »

Norwegian seafood import jumps 73% in 2016

NOREAY

OSLO: The import of Norwegian seafood in South Korea surged last year due largely to increased demand for mackerel, a report said Wednesday. The inbound shipments of seafood from Norway reached 292.8 billion won (US$256.6 million) in 2016, up 73 percent from the previous year, according to the Norwegian Seafood Council (NSC), which cited its latest government statistics. While the ... Read More »

Norway’s Scapa Baltic’s net profit decrease 13% in 2016

net profit decrease

OSLO: Norway’s Scapa Baltic’s net profit decreased by 13 per cent to €72,300, the Kaunas-based company said in its report for the financial year ended Aug. 31, 2016 filed with the Center of Registers. Sales to EU countries last year accounted for 93% of Scapa Baltic’s total sales, of which 72.5%t went to Sweden. The largest increase was in sales ... Read More »

Norwegian DNO plans to increase its production in Oman

Norwegian DNO plans to increase its production in Oman

OSLO: Norwegian oil company DNO plans to bring two oil production wells back on stream in its northern Oman Block 8 license during 2017, nearly doubling daily production at its West Bukha and Bukha oilfields, it announced. DNO’s majority shareholder is RAK Petroleum, of Ras al-Khaimah. According to details, in its interim report for 2016, DNO announced plans to step ... Read More »