Norway and Poland sign agreement on EEA funds
Norway and Poland have signed an agreement on how Norway's contributions towards the expansion of the EU shall be used in Poland.
Norway and Poland have signed an agreement on how Norway's contributions towards the expansion of the EU shall be used in Poland.
Norway's central bank cut its key interest rate on Thursday by 25 basis points to a new record low of 1.75 percent to spur sluggish inflation in the oil-dependent economy.
Prosecutors have expanded charges against Trond Kristoffersen, one of two defendants in the biggest financial scandal in Norwegian history.
John Fredriksen, best known for being the world's largest tanker owner, has boosted his stake in debt collection agency Aktiv Kapital to nearly 40 per cent.
Norway's central bank cut its key interest rate yesterday by 25 basis points to a new record low 2.0 per cent to spur sluggish inflation in the oil-backed economy.
The state Central Bureau of Statistics (Statistisk sentralbyraa, SSB) released figures on Thursday indicating a rise in the business cycle next year.
The record low interest rate has not, until now, provided Norwegian industry with any really big pay offs, but all the same, the industry leaders are starting to believe again.
The Norwegian Krone has greatly strengthened and has reached its highest level since June. This may force The Norwegian Central Bank to institute new interest cuts if the trend in the foreign exchange market continues.
The Norwegian Central Bank (Norges Bank) reduced the sight deposit rate by 0.5 percentage points to 2.5 per cent effective 18 September.
The overnight lending rate will also be reduced by 0.5 points.
Trond G Kristoffersen, who co-founded the collapsed Finance Credit firm, has been indicted for allegedly swindling Norwegian banks for NOK 1.4 billion. He's also suspected of stashing away funds from Finance Credit.