Norway

Norway’s Finance Watchdog Sees Risk of Sharp Home Price Rise

Norway’s banks may face higher risks from a potential home price rally in a nation with the most indebted households in the developed world, its financial watchdog warned, Bloomberg News reported. The planned easing of lending regulations from January would boost housing valuations, Per Mathis Kongsrud, director general of the Financial Supervisory Authority, said in an interview in Oslo. Should the expected reduction in credit costs turn out steeper than projected, it could lead to “a rather sharp” rise in home prices, he said.
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Norway’s Maritime Hydrogen Fuel Cell Pioneer Teco 2030 Faces Bankruptcy

In a still-evolving financial situation, hydrogen fuel cell pioneer Teco 2030 Is facing a financial collapse after a bankruptcy petition was filed yesterday against the parent company, Maritime-Executive.com reported. Earlier it had been reported that its manufacturing subsidiary was facing a bankruptcy petition and demands from the Norwegian Tax Authority after another of the company’s subsidiaries filed for bankruptcy two weeks ago.
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Norges Bank Holds Key Rate Steady, Says Cut Remains Unlikely This Year

Norway’s central bank held its key policy rate at 4.5% as a weak krone continues to threaten efforts to bring inflation down, the Wall Street Journal reported. The policy rate has been at 4.5% since December 2023 and has helped to significantly dampen inflation from its peak, but a rapid rise in business costs and the krone’s depreciation will likely restrain further disinflation, Norges Bank said. Forecasts presented at its September meeting indicated a gradual reduction in the policy rate from the first quarter of 2025.
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Norges Bank Holds Key Rate at 4.5%, First Cut Expected at Beginning of 2025

Norway’s central bank held its key policy rate at 4.5%, a level that is expected to remain unchanged until the end of the year as a weak krone continues to threaten efforts to bring inflation down, the Wall Street Journal reported. The policy rate has been at 4.5% since December 2023 and has helped slow inflation significantly from its peak, but underlying inflation hasn’t declined to the same extent, while a rapid rise in business costs and the krone’s depreciation will likely restrain further disinflation, the bank said Thursday.
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Norse Atlantic Pares Back Winter Schedule as Cash Runs Low

Norse Atlantic ASA will operate a smaller passenger network over the winter season, dropping all services to Los Angeles and paring back flights to New York as the airline works to preserve cash, Bloomberg News reported. The coming months will be pivotal for the Oslo-based long-haul specialist after it burned through half of its cash during the first half of the year. It’s reduced its airline schedule for the slower season, and will hire out more of its fleet to other airlines to provide steady income.
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