iHaveNet.com
Scandinavia & Scandinavian News. Scandinavian News & Current Events | Scandinavia
Online Breaking News Headlines Single Source to Headlines Breaking News Current Events Top Stories. Find out what is happening in News & the World. Check out iHaveNet.com for the latest news & current events articles plus Movie Reviews, Wolfgang Puck Recipes, NFL Previews Analysis and Politics. Your Single Source to News Articles, Current Events & Reviews.
  • HOME
  • WORLD
    • Africa
    • Asia Pacific
    • Balkans
    • Caucasas
    • Central Asia
    • Eastern Europe
    • Europe
    • Indian Subcontinent
    • Latin America
    • Middle East
    • North Africa
    • Scandinavia
    • Southeast Asia
    • United Kingdom
    • United States
    • Argentina
    • Australia
    • Austria
    • Benelux
    • Brazil
    • Canada
    • China
    • France
    • Germany
    • Greece
    • Hungary
    • India
    • Indonesia
    • Ireland
    • Israel
    • Italy
    • Japan
    • Korea
    • Mexico
    • New Zealand
    • Pakistan
    • Philippines
    • Poland
    • Russia
    • South Africa
    • Spain
    • Taiwan
    • Turkey
    • United States
  • USA
    • ECONOMICS
    • EDUCATION
    • ENVIRONMENT
    • FOREIGN POLICY
    • POLITICS
    • OPINION
    • TRADE
    • Atlanta
    • Baltimore
    • Bay Area
    • Boston
    • Chicago
    • Cleveland
    • DC Area
    • Dallas
    • Denver
    • Detroit
    • Houston
    • Los Angeles
    • Miami
    • New York
    • Philadelphia
    • Phoenix
    • Pittsburgh
    • Portland
    • San Diego
    • Seattle
    • Silicon Valley
    • Saint Louis
    • Tampa
    • Twin Cities
  • BUSINESS
    • FEATURES
    • eBUSINESS
    • HUMAN RESOURCES
    • MANAGEMENT
    • MARKETING
    • ENTREPRENEUR
    • SMALL BUSINESS
    • STOCK MARKETS
    • Agriculture
    • Airline
    • Auto
    • Beverage
    • Biotech
    • Book
    • Broadcast
    • Cable
    • Chemical
    • Clothing
    • Construction
    • Defense
    • Durable
    • Engineering
    • Electronics
    • Firearms
    • Food
    • Gaming
    • Healthcare
    • Hospitality
    • Leisure
    • Logistics
    • Metals
    • Mining
    • Movie
    • Music
    • Newspaper
    • Nondurable
    • Oil & Gas
    • Packaging
    • Pharmaceutic
    • Plastics
    • Real Estate
    • Retail
    • Shipping
    • Sports
    • Steelmaking
    • Textiles
    • Tobacco
    • Transportation
    • Travel
    • Utilities
  • WEALTH
    • CAREERS
    • INVESTING
    • PERSONAL FINANCE
    • REAL ESTATE
    • MARKETS
    • BUSINESS
  • STOCKS
    • ECONOMY
    • EMERGING MARKETS
    • STOCKS
    • FED WATCH
    • TECH STOCKS
    • BIOTECHS
    • COMMODITIES
    • MUTUAL FUNDS / ETFs
    • MERGERS / ACQUISITIONS
    • IPOs
    • 3M (MMM)
    • AT&T (T)
    • AIG (AIG)
    • Alcoa (AA)
    • Altria (MO)
    • American Express (AXP)
    • Apple (AAPL)
    • Bank of America (BAC)
    • Boeing (BA)
    • Caterpillar (CAT)
    • Chevron (CVX)
    • Cisco (CSCO)
    • Citigroup (C)
    • Coca Cola (KO)
    • Dell (DELL)
    • DuPont (DD)
    • Eastman Kodak (EK)
    • ExxonMobil (XOM)
    • FedEx (FDX)
    • General Electric (GE)
    • General Motors (GM)
    • Google (GOOG)
    • Hewlett-Packard (HPQ)
    • Home Depot (HD)
    • Honeywell (HON)
    • IBM (IBM)
    • Intel (INTC)
    • Int'l Paper (IP)
    • JP Morgan Chase (JPM)
    • J & J (JNJ)
    • McDonalds (MCD)
    • Merck (MRK)
    • Microsoft (MSFT)
    • P & G (PG)
    • United Tech (UTX)
    • Wal-Mart (WMT)
    • Walt Disney (DIS)
  • TECH
    • ADVANCED
    • FEATURES
    • INTERNET
    • INTERNET FEATURES
    • CYBERCULTURE
    • eCOMMERCE
    • mp3
    • SECURITY
    • GAMES
    • HANDHELD
    • SOFTWARE
    • PERSONAL
    • WIRELESS
  • HEALTH
    • AGING
    • ALTERNATIVE
    • AILMENTS
    • DRUGS
    • FITNESS
    • GENETICS
    • CHILDREN'S
    • MEN'S
    • WOMEN'S
  • LIFESTYLE
    • AUTOS
    • HOBBIES
    • EDUCATION
    • FAMILY
    • FASHION
    • FOOD
    • HOME DECOR
    • RELATIONSHIPS
    • PARENTING
    • PETS
    • TRAVEL
    • WOMEN
  • ENTERTAINMENT
    • BOOKS
    • TELEVISION
    • MUSIC
    • THE ARTS
    • MOVIES
    • CULTURE
  • SPORTS
    • BASEBALL
    • BASKETBALL
    • COLLEGES
    • FOOTBALL
    • GOLF
    • HOCKEY
    • OLYMPICS
    • SOCCER
    • TENNIS
  • Subscribe to RSS Feeds EMAIL ALERT Subscriptions from iHaveNet.com RSS
    • RSS | Politics
    • RSS | Recipes
    • RSS | NFL Football
    • RSS | Movie Reviews

REGIONS:         COUNTRIES:  

HOME > WORLD > SCANDINAVIA

 

Don't Lift the International Ban on Whaling
Bonnie Erbe

The idea sounds positively loony on its face (and it is). But the hope by some anti-whaling countries is that by allowing the three nations that slaughter whales commercially to whale commercially, they can save more whales by persuading those nations to whale in lower numbers. The argument against lifting the ban is that Japan, Iceland and Norway are not trustworthy

Europe U.S. Allies in Europe Begin to Pull Back
William Pfaff

Five NATO governments made it known that they want American nuclear weapons removed from their territory. They include the Benelux three, together with Germany and Norway. The five reportedly will ask that all the European NATO governments endorse their position before a meeting in New York in May.

Swiss fly the first real light aircraft
A Swiss solar-powered plane has made aviation history by flying non-stop solely on solar energy for more than 26 hours including through the night. The Solar Impulse HB-SIA which took off at dawn Wednesday successfully landed at 9 am 0700 GMT on Thursday to the cheers of a crowd of supporters...

Aker Solutions wins drilling riser contract
Aker Solutions has won a contract to supply a further 2 500 feet riser extension to the Dragonquest formerly Titanium Explorer rig which is owned by Valenica Drilling and managed by Vantage Drilling Company Norway Post reported. The contract value for the Norwegian engineering company is approximately 90 million Norwegian...

The udder side of farming
Several dozen Swiss dairy farmers staged a demonstration in the Swiss capital Bern calling for industry heads to help them earn a fair living Swiss info reported. Swiss dairy farmers have demanded better prices on the milk market. They said that BO Milch the industry organisation has failed to curb...

Russian subsea contract for FMC
FMC Technologies has announced that it has signed an agreement with Russian Gazprom Dobycha Shelf LLC for the manufacture and supply of subsea production equipment to support the Kirinskoye field Norway Post reported. According to a press release the award has a value of approximately $190 million in revenue to...

Chinese Icelandic FMs hold talks on bilateral ties
Chinese Foreign Minister Yang Jiechi held official talks with his Icelandic counterpart Ossur Skarphedinsson in Beijing vowing to further expand mutual understanding and push forward bilateral ties up to a new stage Xinhua reported. Calling the two countries good friends and partners Yang said China and Iceland enjoy solid foundation...

Much blubbering over whale hunting
The whale hunting season began after talks at the International Whaling Commission collapsed without agreement. Commercial whaling was banned under a 1986 moratorium. Iceland and Norway continue to be the only European or Nordic two countries that officially authorize commercial whaling and Japan issues scientific permits to its whalers. Iceland...

Swiss celebrate 60 years of Chinese ties
Chinese Vice Premier Li Keqiang met with Swiss Foreign Minister Micheline Calmy-Rey on Monday calling for enhanced exchanges and contacts between the two countries. This year marks the 60th anniversary of China-Switzerland diplomatic ties. Li said the two countries had witnessed smooth progress of bilateral ties over the past 60...

South African partnership for Aker Solutions
The Norwegian engineering company Aker Solutions has announced that it has signed a strategic partnership agreement with South African project house TWP Projects Norway Post reported. A press release stated that the alliance will see the two companies collaborating on large minerals processing and hydro-metallurgical projects in Africa. TWP Projects MD...

Statoil offshore wind project underway
Norways energy producer Statoil has recently installed the first foundations at sea for the new large Sheringham Shoal offshore wind project off the Norfolk coast in Great Britain Norway Post reported. Over the next nine months the lift vessel Svanen will install the remaining 89 foundations ready for the mounting...

Icelands producer price inflation continued to ease in May
The producer price index or PPI rose 21.4% year-on-year in May but slower than a 22.8% growth in the previous month the Statistics Iceland said on Wednesday. Inflation rate slowed for the third straight month. A year earlier the PPI increased 13.9%. Month-on-month the PPI rose 1.2% in May slower...

German utility E.ON AG says it is selling its minority
Stake in Swiss power generator BKW in a deal worth up to €526 million. E.ON has 21% stake of Bern-based BKW FMB Energie AG. It said Thursday it initially will sell about 9% to BKW and another 5% to Swiss energy provider Groupe E SA -- worth a combined €346...

Blessed are the cheesemakers
Cheese has been performing well for Switzerlands beleaguered export industry. Last year exports grew 1.6% to 62 000 tonnes. Exports of Switzerlands iconic dairy product rose 9.9% in the first three months of this year compared with the same period in 2009. However there are signs that the boom is...

Aker Verdal wins major wind project
German Utility Company RWE Innogy has awarded Aker Solutions Aker Verdal yard an EPC-contract for the supply of 48 steel jackets and piles for the Offshore Wind Farm Nordsee Ost project Norway Post reported. The contract value for the North Sea project is approximately €115 million. This contract represents a breakthrough...

Managers pay increasing faster than employees
The gap between the salaries of managers and employees is widening despite the economic crisis according to the employees association Travail.Suisse. In a study published on June 21 The organisation said the difference in salaries had widened by 18% in 2009 and by 70% since 2002 Swiss info reported. The...

This must be underwater love
Norwegian sub sea engineering and contractor companies Acergy SA and Subsea 7 Inc have announced that their Boards of Directors have agreed to combine the two companies Norway Post reported. In a joint press release the two companies stated that the aim has been to create a global leader in...

Russia and Iceland look for warm relations fish
Icelands Minister for Foreign Affairs Ossur Skarphedinsson held talks with Russias deputy FM Vladimir Titov. The pair spoke about Arctic affairs and bilateral co-operation in fishing trade energy and cultural issues Ice News reported last Tuesday. A press release from the Ministry of Foreign Affairs said that Iceland and Russia...

WikiLeaks founder surfaces... in the European Parliament
Julian Assange the founder of the whistle blowing website WikiLeaks went to ground in recent days after it became known that the Pentagon wanted to speak to him. WikiLeaks is preparing to release classified video footage of a US assault on an Afghan village that reportedly led to the deaths...

Iceland votes to create data haven as Wiki Leaks comes under fire
One effect of the Icelandic banking crisis has been to persuade Icelandic lawmakers to vote for a new media haven in Iceland with the worlds strongest press and whistle-blower protection laws and a Nobel prize for for Freedom of Expression. The Althing which is worlds oldest parliament founded in 930...

Brazil puts Switzerland on financial blacklist
The Brazilian government has decided Switzerland is a tax paradise and has placed it on a financial blacklist. The Swiss finance ministry has confirmed reports adding that it had asked the Swiss ambassador in Brazil to express the Swiss authorities surprise to the relevant ministries Swiss info reported. The Brazilian...

Nestlé says Nopresso to Sara Lee
The Swiss-based food and beverage giant Nestle has taken legal action against a United States food group for selling Nespresso-compatible coffee capsules. The Sara Lee Corporation is being prosecuted in France for patent infringement Swiss info reported. We appreciate fair competition said the group adding however that it would always...

Gjoa is go!
After a five-year development period the Gjoa field is approaching start-up. Previous Sunday began the field tow from Aker Solutions Stord Yard of one the most modern platforms built in Norway Norway Post reported. It feels incredibly good to finally send the platform out to the field. Many millions of...

Cold Cuts
According to the state budget which was to be presented to Althingi parliament in the next few days the Icelandic state will cut its budget by $248 million €204 million Iceland Review reported. The state will seek new revenues for $85 million €70 million Euro . The economic situation is...

China Norway to boost military ties
Visiting Norwegian Chief of Naval Staff Rear Admiral Haakon Bruun-Hassen met Chief of the General Staff of the Peoples Liberation Army PLA General Chen Bingde of China to discuss military ties Sify reported. The military relationship is an important part of China-Norway relations and in recent years the two sides...

Egypt Swiss trade ministers discuss expanding economic cooperation
Egyptian Minister of Trade and Industry Rachid Mohamed Rachid discussed with Swiss State Secretary of Economy Affairs Jean-Daniel Gerber ways to expand economic cooperation according to a ministry statement DPA reported. The officials also discussed the status of the stalled WTO Doha Development Agenda on trade liberalisation proposed in 2001 as...

Iceland Express Flies to New York
The airline Iceland Express has begun scheduled flights from Keflavík International Airport to New York four times a week in competition with Icelandair Iceland Review reported. The first flight departed from Keflavík on 1 June. Bookings have been very good. This summer Iceland Express will offer flights to New York...

Swiss cars drink less lose weight
Compact cars which use less fuel are apparently gaining popularity in Switzerland Swiss info reported. For the first time in recorded history the fuel consumption of new cars went down to under seven litres per 100 kilometres in 2009. The exact figure was 6.86 litres per 100 kilometres the Federal...

Statkraft power to Turkish homes
Norways energy provider Statkraft would make its first deliveries of clean and self-made hydropower to the Turkish market last week. The Cakit power plant is Statkrafts first in the country Norway Post reported. Statkrafts venture in Turkey is profitable and contributes to providing Europe with more clean energy. It also creates...

Former Woolies stores help Iceland to win record profits
Food retailer Iceland last Monday reported record results after a major expansion drive as it posted pre-tax profits of GBP 135.4 million up 19.4% on last year Wales Online reported on June 7. Iceland Foods Group the owner of Iceland Foods and Cooltrader opened 74 stores in the last year...

One off the wrist aids Swiss exports
Switzerlands watch exports were up 11.5% in April compared to the same month last year according to the Federation of the Swiss Watch Industry DPA reported. Exported timepieces were worth a total value of 1.2 billion Swiss Francs $1.03 billion the industry group reported with the figure being boosted by higher...

Parliament wants bank charges
The Icelandic parliamentary committee looking into the recent bank crisis has decided to send the state prosecutor a report regarding public officials whom the report describes as incompetent. The move could potentially lead to criminal trials. The move specifically concerns the three former joint governors of the Central Bank of Iceland;...

Hydro to build aluminium recycling plant
Hydro will build Norways largest plant for aluminium recycling at Karmoy. The plant will have an initial capacity of 35 000 million tonnes. The total investment will be approximately 260 million Norwegian crowns Norway Post reported. The new recycling facility will establish 40 new jobs and is planned operative from...

Swiss planes banned from Russian airspace
Swiss International Air Lines has lost the rights to enter Russian airspace. No reason is known but negotiations are continuing Swiss info reported. A spokesman for the airline confirmed a report in the NZZ am Sonntag newspaper that Swiss hasnt been able to fly through Russia since the introduction of...

Investigation into volcanic ash effects
A comprehensive investigation into the medical effects of volcanic ash is now underway in South Iceland. The research is being co-ordinated by Icelands Chief Epidemiologist Haraldur Briem along with local health workers and the lung department of the Landspitali hospital in Reykjavik. We think it is important to find out...

The Doctor will see you now
The nationwide strike by hospital employees has ended after the two sides agreed to a new wage proposal put forward by the national arbitrator in the early hours of 1 June Norway Post reported. The around 1000 striking hospital staff were to come back at work as usual from last Tuesday...

Fule wants improved visas trade
Speaking at the Eastern Partnership Informal Foreign Ministers Meeting Sopot Poland tefan Füle European Commissioner for Enlargement and Neighbourhood Policy said that to move towards the second Eastern Partnership Summit in the first half of next year during the Hungarian Presidency of the EU they must redouble their efforts to...

ORLEN awarded title of Ambassador of the Polish Economy
Polish crude oil refining company PKN ORLEN has been awarded the title of an Ambassador of the Polish Economy in the European Brand category in the second edition of a competition organized by the Business Centre Club under the honorary patronage of the Minister of Foreign Affairs. The organizers have...

Climb every mountain till you find your dream nuclear waste dump
The Swiss based Association for Regional and International Underground Storage has been asked to assist ten European countries in their search for a safe place to store nuclear waste. A 2006 moratorium on the export of nuclear waste the storage of which is the producers responsibility is due for discussion....

Opera and the undersea Thor
President of Iceland Olafur Ragnar Grímsson and Minister of Industry Katrín Júlíusdóttir opened the first Icelandic data center at Steinhella in Hafnarfjördur a neighboring town of Reykjavík Iceland Review reported. An Icelandic company Thor DC is behind the construction of the center and its operations. Thor DC was founded by...

Developing nations look towards Swiss banking
The Swiss private banking sector has been affected by the financial crisis especially when several top banks pulled out of the secretive state. However several new banks from the developing world have begun to move into the private banking sector. Brazils Itau private bank has just applied for a license...

New bottled water plant coming on tap
Icelandic Glacial Waters hopes its new Snaefellsnes factory will be in operation by next year. The planning of the new factory restarted this winter after several delays but when it opens next year it is set to create new jobs for the Snaefellsnes peninsula in West Iceland RUV reports. The...

DCC profits boosted by energy division
Business support services group DCC has reported a 27% increase in pre-tax profits - on a constant currency basis - for the year ending March 2010 after what it called an excellent year RTE Ireland. Pre-tax profits for the year rose to €164.9 million while revenues rose by 10.8% to €6.725...

Finance firm to create 10 Limerick jobs
Neal Kelly from Thomond Asset Management said Our figures forecast for growth are ahead We need more people in our team Our light for the future is green And ten jobs are going to be created instead...

Pfizer out of Pfizz
One of Irelands biggest employers pharmaceutical giant Pfizer announced plans to lay off hundreds of workers here and sell off three of its Irish plants RTE Ireland reported. Pfizer said it plans to cut 275 jobs at its Newbridge plant in Co Kildare as it plans to exit the manufacture...

Government announces new cuts
The Portuguese government recently announced new austerity measures to cut the countrys budget deficit and to calm European concern that it could face a Greek-style debt crisis while Spain was facing a general strike over its own austerity package. The Portuguese measures included tax hikes and budget cuts. Prime Minister...

Iran agrees to make uranium swap in Turkey
Iran signed an agreement to swap its uranium in Turkey for enrichment hoping to avert new international sanctions Foreign Ministry spokesman Ramin Mehmanparast said on 17 May. He said the accord was signed during a meeting hosted by President Mahmoud Ahmadinejad with the leaders of Turkey and Brazil. After lengthy...

Turkey pushes fiscal discipline
Turkeys Economy Minister Ali Babacan said that a new period would begin in Turkey with fiscal discipline measures that will take the country five steps ahead of other countries. Zaman quoted him as saying that the measures in the medium-term economic program that was announced last year had pushed Turkey...

EBRD to allocate €1.5 bln for investments
The Turkish Confederation of Businessmen and Industrialists TUSKON and the Canadian Embassy in Istanbul recently organized the Canada-Turkey Energy and Environment Business Forum. Speaking at the forum European Bank for Reconstruction and Development EBRD Turkey Director Michael Davey announced that the bank had assigned 25% to 30% of its budget...

EBRD helps bolster cotton farmers
The European Bank for Reconstruction and Development recently announced that it will grant € 8.5 million to ECOM a cotton trading company subsidiary of the Swiss-based ECOM Agricultural Corp reads a press release. While diversification of agriculture is a priority for Tajik authorities cotton remains the key crop for the...

UNWTO Secretary-General visits Gorno Badakhshan
The United Nations World Tourism Organization UNWTO Secretary-General Dr. Taleb Rifai on his recent trip to Dushanbe also paid a visit to Gorno Badakhshan according to the Committee for Youth Sports and Tourism Affairs under the Government of Tajikistan. Rifai was accompanied by Chairman of the Committee for Youth Sports...

Statoil signs gas agreement
Norways Statoil has concluded an agreement for the transportation of gas through a pipeline from the Northern Marcellus shale gas area in Pennsylvania PA to Niagara at the US-Canadian border. Statoil Natural Gas SNG a US subsidiary has concluded a transportation agreement with National Fuel Gas Supply Corporation securing Statoil...

EFTA News - New Europe News
EFTA News - New Europe News: The European News Source.

 

Selling America for Designer Boots, Top Hats and Thimbles
Like a near-concluded game of Monopoly, America is selling off its last properties to maintain its lavish lifestyle.

theTrumpet.com: Scandanavia
theTrumpet.com -- Understand your world.

 

The Stigma of Being a Housewife
When the Swedish journalist Peter Letmark tried to track down a housewife for a series on 21st-century parents in the newspaper Dagens Nyheter recently, he failed.

Chinese Separatists Tied to Norway Bomb Plot
Officials said one of the men was a Chinese Uighur, and all three arrested supposedly belonged to a group that advocates separatism in China.

Transocean Is a Driller That Tends to Test the Rules
Transocean, the owner of the Deepwater Horizon rig, has pursued profits while testing local laws, and kept up questionable ties in Myanmar, Iran and Syria.

BP's Shareholders Take It on the Chin
BP investors have already lost $88 billion on paper as oil giant's share price plunges in wake of spill in Gulf of Mexico; financial losses continue to grow; scope and size of BP, along with its stock being so widely held, are causing drop in share price to have effects throughout global investment world as corporations in United States, Norway, Kuwait, China and Singapore all have major stakes in company; announcement that BP would suspend paying dividends for remainder of year and establish $...

2 Norwegians (1 Also British) Are Sentenced to Die in Congo
The two men had been convicted of murdering their driver and trying to murder a witness. They were also convicted of espionage.

Unlocking Access to the Boardrooms
Around a century after women won the right to enter parliaments, they are still greatly underrepresented on corporate boards, according to a preliminary report released at the 20th Global Summit of Women.

German Short-Selling Ban Sows Confusion
Germany’s ban on naked short-selling of a variety of stocks, bonds and default swaps is not unusual, but may not be very effective either.

Russia and Norway Reach Accord on Barents Sea
An agreement resolved a 40-year-old dispute, opening the way for oil and natural gas exploration.

U.S. Leads New Bid to Phase Out Whale Hunting
A compromise deal would limit and ultimately end whale hunting by Japan, Norway and Iceland.

Abuse Case Forced Bishop in Norway to Quit in ’09
In May, the leader of Norway’s small Catholic community resigned. The Vatican on Wednesday said why: he had sexually abused a boy in the early 1990s.

The Hard and the Soft
That Norway won as many gold medals as the United States at the Vancouver Winter Games was no anomaly. Take the story of Jan Baalsrud, for instance.

Fertilizer Maker Buys Rival for $4.1 Billion
The fertilizer industry, hurt by the global recession, is expecting a major rebound in demand in 2010 as farmers rush to replenish their soil nutrient levels.

SAS to Issue Shares, Cut Jobs After Posting Loss for 2009
SAS, the Scandinavian airline group, said Tuesday that it would issue new shares to raise capital and cut 700 jobs after reporting a loss for 2009.

Getting Women Into Boardrooms, by Law
Norway set a legal quota for the percentage of company board members that must be women, and other European nations are following suit.

Iceland Leads Environmental Index as U.S. Falls
Some of the largest economies, including the U.S. and China, scored poorly in a new environmental index.

NYT > Norway

Updated: Oct. 9, 2009

Norway is Europe's largest exporter of oil and gas. The country's carefully managed oil riches has let this fjord-fringed nation of 4.8 million people develop one of the world's most advanced social welfare models and weather the current global financial crisis with nary a wobble.

But the role of fossil fuels in the economy has been a major subject of debate, especially in the run-up to the country's parliamentary election in September 2009, when the country's left-leaning prime minister, Jens Stoltenberg, was re-elected.

Norway is the world's fifth-biggest crude exporter. However the powerful oil and gas lobby has said the future of the country hinges on gaining access to new Arctic areas to replenish dwindling North Sea resources.

Oil and gas pumped from North Sea platforms have made Norway one of the world's most affluent nations. But that wealth has also presented a challenge for sitting governments, who must balance the risk of overheating the domestic economy with Norwegians' high demands on the cradle-to-grave welfare system.

Before the September election, the country's prime minister struggled in a closely fought race despite the relative buoyancy of Norway's economy, with its stock market rising and its unemployment rate hovering at 3 percent, among the lowest in Europe.

Immigration has skyrocketed by a factor of five since the early 1970s - more than 10 percent of Norway's population is of foreign origin. In recent years, the biggest groups of asylum seekers have come from Afghanistan, Iraq, Somalia and Eritrea.

The top challenger to the prime minister, Siv Jensen, the leader of the right-wing populist Progress Party, channeled resentment over immigration, taxes and other contentious issues. Ms. Jenson also wanted to raise spending on hospitals and roads by tapping into the country's robust oil proceeds.

Most of Norway's vast riches from oil and gas are tucked away for future generations in a sovereign wealth fund currently valued at more than 2.4 trillion kroner ($400 billion.) The fund moved toward green investments in 2009, with officials announcing plans to commit about $3.5 billion dollars over a period of five years to companies it deems environmentally sound and engaged in sustainable growth in emerging markets.

As a result of its petroleum fund, Norway can pledge more ambitious reductions than other nations, and then dig deep into its plentiful public savings to buy up larger amounts of international credits to offset its carbon footprint. That frustrates some environmental groups like Greenpeace, which have warned Norway to do more at home rather than pay developing nations to reduce emissions.

In October 2009, the Norwegian government said that by the end of the next decade, it would cut emissions as much as 40 percent from 1990 levels. The offer goes significantly beyond that made by the European Union, which has agreed to cut emissions 20 percent and could go to 30 percent.

Norway would make the cut "if this can contribute to achieving an ambitious climate agreement where the major emission countries take on concrete emission obligations," according to a statement from the governing coalition.

There has been virtually no talk about joining the European Union, which Norwegian voters rejected in referendums in 1972 and 1994, and which on average has been more severely hit by the recession.

 

 

Government urges commission on Roma
A truth commission is one of the proposals the Delegation for Romani Affairs delivered to cabinet minister Nyamko Sabuni on Friday.

Sweden's Dreyer named security body police chief
The Organisation for Security and Co-operation in Europe (OSCE), a European security body, has named Sweden's Knut Dreyer as the new head of its police unit (SPMU), the organisation announced on Friday.

102-year-old seeks to ditch legal guardian
A 102-year-old woman in Halmstad in southwestern Sweden wants to get rid of the legal guardian that the municipality arranged for her against her will when it mistakenly assumed she had no living relatives.

Top cop jailed for sex crimes
Göran Lindberg, once one of Sweden's most senior police officers, has been jailed for six and a half years for a string of sex crimes.

Geely gets second green light for Volvo purchase
A second Chinese government body had approved China's Zhejiang Geely Automobile's plan to buy Swedish automaker Volvo from Ford, the company announced on Thursday.

Sweden reports 3.7% GDP growth in Q2
Sweden's gross domestic product (GDP) grew by 3.7 percent in the second quarter compared with the same period last year, Statistics Sweden (Statistiska centralbyrån, SCB) reported on Friday.

Mankell's bag returned - with women's clothes
Swedish novelist and Ship to Gaza participant Henning Mankell has had his bag returned to him by Israeli authorities - filled with women's clothes.

Chaos reigns in central Sweden after heavy rain
Central Sweden was hammered by heavy rainfall on Thursday, with emergency calls overwhelming rescue services on flooded roads and properties. Several traffic accidents occurred, but no injuries were reported.

Train breaks down from Stockholm to Malmö
A high-speed X2000 train from Stockholm to Malmö experienced an engine breakdown on Thursday afternoon outside Skebokvarn in Södermanland southwest of Stockholm.

Century-old steamers inspire awe and nostalgia
AFP's Francois Campredon savours a bygone era on vintage Stockholm steamer S/S Storskär, which is over 100 years old, as it cruises through the archipelago and the Baltic Sea for an annual summer steamship parade.

Ibrahimović confirms he will stay at Barcelona
Barcelona's Swedish striker Zlatan Ibrahimović quashed rumours on Thursday that he is leaving football club FC Barcelona, saying that he will remain at the club.

Protestors arrested in anti-US demo
Five anti-military protesters have been arrested after breaking into a Swedish Air Force base to demonstrate against joint exercises planned with the US Air Force.

China approves Geely's takeover of Volvo
China's Ministry of Commerce has approved Zhejiang Geely Holding's plans to buy Sweden's Volvo Cars from Ford, a report said on Thursday.

Couple suspected of dog smuggling set free
A man and a woman suspected of having smuggled nine dogs into Sweden were released on Thursday in connection with the detention hearing in Karlskrona.

The Local's Guide to Pride
Scandinavia's biggest gay pride festival starts building to a climax on Thursday. We guide you through the highlights of a long weekend of partying, with just a little politics thrown in.

The Local - Sweden's news in English
Swedish news throughout the day from The Local

 

Finland’s 100,000-Year Plan to Banish Its Nuclear Waste
Onkalo, a tunnel that will hold spent fuel rods 1,600 feet under bedrock in Eurajoki, Finland, is the subject of the documentary “Into Eternity.”

Iceland Leads Environmental Index as U.S. Falls
Some of the largest economies, including the U.S. and China, scored poorly in a new environmental index.

Nokia to Cut Jobs at Finnish Phone Plant
The world’s biggest mobile handset maker is losing ground in the battle for market share with Apple’s iPhone and Research in Motion’s BlackBerry.

Turning Complaints Into Art
In Finland, Japan and other locations around the world, choirs make whining a pleasant sound.

Ransom Sought for Missing Ship
It was not immediately clear if the ransom demand was legitimate, and the whereabouts of the Arctic Sea, its 15 crew members and its cargo of timber remain a mystery.

Russian Navy Joins Search for Freighter
The disappearance of the Maltese-flagged Arctic Sea, with a load of timber and a Russian crew of 15, has raised fears that it was hijacked.

In Finland, a Man of Politics, Without His Cloth
The Rev. Mitro Repo, an energetic Finnish Orthodox priest, won a seat in the European Parliament by bucking strict rules about mixing politics and piety.

In Finland, Nuclear Renaissance Runs Into Trouble
A Finnish project suggests a new generation of reactors will be no easier or less costly to build than in the past.

Porsche Finds Fortune From Unlikely Outsourcing
Instead of outsourcing to cheaper production markets, Porsche has been using Finnish factories, yet it remains profitable.

$2.5 Billion Is Added to Bailout for Iceland
Iceland finally received international backing for its bailout plan on Thursday, as Nordic countries followed up a $2.1 billion loan by the International Monetary Fund.

Finland Sees a Familiar Pattern in Photos From the Georgia Conflict
One of the stranger questions to emerge after the August conflict between Russia and Georgia: Did Russians go to war wearing a camouflage design filched from Finland?

Women Gain in Education but Not Power, Study Finds
A study found that women still lag far behind men in top political and decision-making roles, though their access to education and health care is nearly equal.

Former Finnish President Wins Nobel Peace Prize
Martti Ahtisaari has worked to end conflicts in troubled spots around the world for more than three decades.

N.H.L.’s Diplomats Will Be Carrying Sticks
This week four N.H.L. teams will play exhibition games in Europe, and Saturday’s regular-season openers in Prague and Stockholm are sold out.

Gunman Kills 10 in Attack at a School in Finland
The gunman, identified as Matti Juhani Saari, a 22-year-old student at a trade school in western Finland, killed 10 people before shooting himself.

NYT > Finland

World news about Finland, including breaking news and archival articles published in The New York Times.

 

Cradle-To-Grave System Gets Rocky in Denmark
The credit crunch and a growing public debt problem has fueled a discussion about the paradox of Denmark’s high earners receiving many of the same social benefits as the very neediest citizens.

Cameroon Is Eliminated Just as World Cup Seems Invigorated
For Africans, the test is coming. Will they support the World Cup if they have no countries left in the tournament?

A Quiet Victory for the Netherlands
The Netherlands benefited from an own goal by Denmark, then closed it out with a goal from Dirk Kuyt.

Dutch Find Goals in Unusual Places
The Netherlands won after an own goal by Denmark’s Daniel Agger and a tap-in by Dirk Kuyt.

Dutch Coach Rules Out Key Player for Opener
The injured wing Arjen Robben has joined his teammates in South Africa, but Dutch Coach Bert van Marwijk will keep him out of the team’s opening World Cup game.

A Little Danish Mermaid Comes Up for Air in China
Denmark is moving its best-known national emblem, the bronze Little Mermaid statue, from the location it has occupied since 1913 to Shanghai for the 2010 World Expo.

Europe Finds Clean Energy in Trash, but U.S. Lags
New incinerators convert rubbish into heat and electricity, reducing energy costs while benefiting the environment.

A Guilty Plea to 2 Terrorism Charges
David C. Headley pleaded guilty to helping plan both a terrorist attack in India and a proposed attack in Denmark.

After a Bitter Campaign, Forging an Alliance
President Obama and Secretary of State Hillary Rodham Clinton have formed a surprisingly credible partnership.

Climate Goal Is Supported by China and India
The countries are the last two major economic powers to agree with the aims of the nonbinding agreement.

SAS to Issue Shares, Cut Jobs After Posting Loss for 2009
SAS, the Scandinavian airline group, said Tuesday that it would issue new shares to raise capital and cut 700 jobs after reporting a loss for 2009.

Not Exactly a Danish Grover’s Corners
Henrik Ruben Genz’s diabolical comedy “Terribly Happy” assures us that yes, something is definitely rotten in the state of Denmark.

Pollution-Fighting Businesses Set Their Own Course in Treaty Vacuum
Lacking international leadership, environmental technology firms may focus on local and national markets.

Sites to Refuel Electric Cars Gain a Big Dose of Funds
The infusion of cash is a vote of confidence for Better Place, the closely watched start-up that hopes to create vast networks of charge spots for electric vehicles.

U.N. Official Says Climate Deal Is at Risk
Facing a Jan. 31 deadline, major countries have yet to submit their plans for reducing emissions of climate-altering gases.

NYT > Denmark
World news about Denmark, including breaking news and archival articles published in The New York Times.

 

Lessons Learned From Ash Clouds
Air traffic controllers have put in place new systems to reduce disruption from volcanic eruptions in the future.

Charges for Soldier Accused of Leak
Charges of downloading classified cables stemmed from a case of a leaked video of a helicopter attack in Iraq.

Remains of Bobby Fischer Are Exhumed in Iceland
The remains of Bobby Fischer, the American chess champion, have been exhumed, according to a report Monday in The Reykjavik Grapevine, a magazine.

Icelander’s Campaign Is a Joke, Until He’s Elected
A comedian tapped voters’ anger over the country’s economy, promising free towels and a Disneyland.

Summer of Full Flights and High Fares
Demand for business and leisure travel is expected to be stronger this summer, meaning passengers will be fighting for seats that were cut significantly in the recession.

Britain Joins Ireland to Relax Rules on Ash Clouds
The move came as the airline industry renewed its calls for the European Union to develop more precise criteria for determining no-fly zones.

European Airports Begin to Reopen
London’s Heathrow and Gatwick airports began to reopen, after a new cloud of volcanic ash forced the shutdowns for several hours.

Ash Cloud Shuts Airports in Parts of Europe
Officials temporarily closed airports in the Netherlands and British Isles, including London Heathrow, Europe’s busiest airport.

Forecast for Business Jets: Slow Climb
The ash cloud over Europe has cleared, but doubts still trouble the business aviation industry.

European Countries Are Cautioned to Be Even-Handed in Assisting Airlines
The E.U. proposed moves to help airlines recover from disruptions caused by the volcano eruption but warned against some carriers receiving unfair advantages.

Air Traffic in Europe Expected at Normal Levels
Sweden and Norway said on Thursday they had closed their air space once again because a new cloud of ash from an erupting volcano in Iceland.

In Ash’s Wake, E.U. to Hasten Plan to Merge Airspace
As flights resumed and airlines began to clear the backlog, the European Commission set the stage for a debate over a plan to create a single authority to manage European airspace.

Ash Turns Routine Flights Into Overland Odysseys
Airports rumbled back to life across Europe, but travelers who opted for land or sea journeys told of epic adventures.

Airlines Urge State Aid After Industry Chaos
With air traffic gradually resuming, three airline associations called governments to make a firm commitment to provide financial support to their industry.

New Ash Cloud Adds to Uncertainty of Air Travel
A new cloud of volcanic ash was headed toward the United Kingdom on Tuesday, increasing the uncertainty about the prompt return of air traffic.

NYT > Iceland

Updated: May 17, 2010

Iceland is a small but rugged country far from anywhere that has suffered as severely as any in the developed world at the hands of buccaneering free-marketeers, but which is now slowly digging itself out from the financial wreckage.

Nobody has been able to put an overall price tag on the meltdown, though some estimates run to $10 billion, $30,000 for every man, woman and child in the country. The bank collapse alone is expected to cost taxpayers nearly $3 billion, on top of another $3 billion the government has invested in the new nationalized banks built on the wreckage of the old. More than $5 billion has been pledged to pay out foreigners who deposited money in the collapsed banks, mainly in Britain, whose action in using counterterrorism laws to freeze an Icelandic banks' assets in October 2008 is widely regarded here as having started the collapse.

In April 2010, the country experienced an eruption of a different kind, when a volcano under the Eyjafjallajokull glacier sent a gigantic plume of ash into the sky, disrupting air travel across Western Europe. Sporadic emissions from the volcano threatened to continue for months, if not years.

Read More...

Iceland, unlike many other nations that went mad for credit, still has many things going for it: a low average age of 37, highly educated workers, a nearly positive birthrate, overfinanced pension funds and abundant natural resources. That said, statistics paint the remarkable fiscal challenge Iceland faces. The central bank estimates four out of 10 households took out loans denominated in foreign currencies to buy cars. And 80 percent of Icelandic homes have mortgages with payments either directly linked to inflation or denominated in foreign currencies.

When the krona was soaring, this might have seemed rational. The strong currency, buoyed by artificially high official interest rates, allowed hot money to flow over Iceland like the Gulf Stream that keeps the country temperate. Everyone from American hedge fund managers to Austrian dentists could borrow cheaply at home, or in low-rate currencies like the Japanese yen, and buy higher-yielding Icelandic paper.

When this vast "carry trade" ended, though, the currency crashed and the cost of servicing all those liabilities spiked. So did the prices of imports, which led to inflation. Because many Icelandic mortgages carry payments linked to consumer prices, one in six households now face mortgage payments equal to 60 percent or more of their take-home pay.

Iceland's banks also got into this game, rolling in easy money they then lent to entrepreneurs known locally as "business Vikings." Soaring stock prices also encouraged them to expand their businesses abroad. At its peak, the Reykjavik market's capitalization rose to more than 250 percent of gross domestic product -- making it the most highly valued in the world. Today it's around 16 percent.

The bust led to the ousting of the conservative government that oversaw the boom. It was replaced by a leftist coalition led by Johanna Sigurdardottir, the first woman to lead Iceland's government and the first openly declared lesbian to lead a government in the modern world.

Her fragile government is struggling to balance a recognition of the public's deep bitterness against the need to resolve obligations left from the collapse to move economic recovery along. At the crux of this debate is the Icesave, or "Iceslave," as it is called in Iceland. Icesave accounts were a top-of-the-market gambit by Landsbanki, the most aggressive of the failed Icelandic banks, to raise cash by extending its branch network from tiny Reykjavik to the high streets of London. Britain and the Netherlands partially reimbursed residents who lost money in Icesave, and have demanded $5.3 billion in repayment before the country receives a second badly needed loan from the International Monetary Fund. In an non-binding referendum, 93 percent of voters came out against the payment, but Ms. Sigurdardottir's government has made clear that the debt will be paid.

Eyjafjallajokull had been dormant for nearly two centuries before gently rumbling back to life in March 2010. While the lava caused some local flooding from melting on the glacier, the winds carried the smoke away from Iceland. 

The drifting ash, which can stall jet engines with potentially catastrophic results, disrupted most air travel in Europe for nearly a week, forcing the cancellation of thousands of flights, stranding passengers, damaging the continent's economy and raising questions about the oversight of Europe's air traffic. It was the worst peacetime air travel disruption in history.

A month later, volcanic ash from Eyjafjallajokull resumed its havoc-making, grounding 1,000 flights and delaying hundreds of thousands of passengers in parts of northern Europe. Several of Europe's busiest airports, including London's Heathrow and Schiphol in Amsterdam, were closed for several hours.

The Icelandic Meteorological Office and Institute of Earth Sciences at the University of Iceland said that the volcano, which has been known to erupt continuously for two years, might not go dormant again for some time.

Related Links: Iceland Travel Guide

Hide

 

 

Search Powered By Google

Google Search   

Job & Career Search

career & job search                    job title, keywords, company, location

ADVERTISEMENT

2010 FIFA World Cup

  • "The Champions" Painting by Paul Junior Kasemwana
  • Spaniards Adorned with Medals and Trophy
  • Iniesta Celebrates his World Cup Winning Goal
  • Stekelenburg Shows his Dejection
  • Arjen Robben closes down Xavi Hernandez
  • Sergio Ramos Missed Header Opportunity
  • Iker Casillas saves Arjen Robben shot
  • Navas and Van Bronckhorst Battle for the Ball
  • Spain Celebrates 1-0 Victory
  • Posing with World Cup Trophy
  • Top Marks for South Africa's World Cup
  • World Cup Firsts Recap
  • History of the FIFA World Cup
  • Vuvuzela: Symbol of the 2010 World Cup
  • At Last Americans Becoming Soccer Fans
  • FIFA World Cup Trivia
  • World Cup Soccer Can Have Political Impact

POLITICS FEATURING ARIANNA HUFFINGTON

Subscribe to Politics

Delivered by FeedBurner

 

Politics featuring Arianna Huffington a passionate partisan who doesn't mince words, takes no prisoners in her fight for social justice and freely attacks the conventional wisdom of both Democrats and Republicans and, in the process, gives voice to readers frustrated by politics-as-usual.

Click Here to Continue

WOLFGANG PUCK RECIPES

Subscribe to Recipes

Delivered by FeedBurner

 

Wolfgang Puck Easy-to-Make Gourmet Recipes

Click Here to Continue

MOVIE REVIEWS

Subscribe to Movie Reviews

Delivered by FeedBurner

 

Movie Reviews and Movie Trailers featuring renowned film critic Michael Phillips

Click Here to Continue

Beijing 2008 Summer Olympics

     

    Online Coverage of the Beijing 2008 Summer Olympics.
    Click Here to Continue

Advertisement

ADVERTISEMENT

Job & Career Search

career & job search                    job title, keywords, company, location

Search Powered By Google

Google Search   

Advertisement

Your Ad Here
Your Ad Here
  • HOME
  • WORLD
  • USA
  • BUSINESS
  • WEALTH
  • STOCKS
  • TECH
  • HEALTH
  • LIFESTYLE
  • ENTERTAINMENT
  • SPORTS

World News & International Current Events

  • Services:
  • RSS Feeds
  • Shopping
  • Email Alerts
  • Site Map
  • Privacy