Microsoft to build new search base in Norway

October 1, 2008

Software giant Microsoft said Tuesday it would establish its base for enterprise search technology in Norway, with a main office in Oslo plus offices in Trondheim and Tromsø.

Markets dive on opening, then rebound strongly

October 1, 2008

Share prices on the Oslo Stock Exchange, which logged its worst one-day fall in 17 years on Monday, continued to dive on Tuesday but then sharply rose. Norway's central bank made a new effort to boost liquidity, and the finance minister admitted market turbulence was "stronger than feared."

First snow of the season

October 1, 2008

It's still only autumn, but temperatures fell in the mountains of southern Norway during the night and a low pressure system moved in. That left vast areas white.

Ferry firm set to shut down

October 1, 2008

Kystlink, which ran ferries between Langesund in Norway, Strömstad in Sweden and Hirtshals in Denmark announced Wednesday that it planned to go out of business. Layoffs loom.

Huge cost threatens plans for Winter Olympics in Tromsø

October 1, 2008

A Winter Olympics in Tromsø in 2018 would be twice as expensive as previously thought, according to an official report that three accounting and certification firms were asked to prepare for the state. The price tag may kill what little public and political support there's been for the project.

Money market rates soar

October 1, 2008

Norwegian money market interest rates jumped again on Wednesday, some surging more than 100 basis points from Tuesday, due to persistent tightness in dollar funding.

Deposit insurance fund claimed to be 'strong'

October 1, 2008

Leaders of the state fund aimed at insuring deposits at Norwegian banks say they have adequate reserves to aid or even rescue the banks they were set up to protect.

Housing prices tumble, but home loans harder to get

October 1, 2008

Prospective home buyers are suddenly able to snap up properties at prices below appraisals in Oslo. At the same time, however, banks are finally cracking down and setting higher lending standards. Some borrowers are being told they must be able to tolerate interest rates of more than 11 percent.

Foreign Ministry seeks to halt clothing store's flag abuse

October 1, 2008

Norway's foreign ministry is taking legal action against a German clothing store's use of the Norwegian flag in its logo. The store and its clothing cater to a neo-Nazi clientele.

Authorities launch hotel food poisoning probe

September 29, 2008

Norwegian authorities launched an investigation Monday after scores of guests fell acutely ill during the weekend at a hotel near Oslo's airport at Gardermoen. More than 30 persons had to be sent to hospital.

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