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☆ ‘World’s longest’ purpose-built cycling tunnel opens in Norway
▼ + stars: | 2023-04-18 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

A three-kilometer-long (1.8-mile) cycling and pedestrian tunnel has been blasted through the base of Løvstakken mountain and its makers say it’s the longest purpose-built tunnel of its kind. Ronny Turøy/Bybanen UtbyggingIt takes a little under 10 minutes to whizz through the tunnel by bike and around 40 if strolling by foot. “This makes it more pleasant to use than if one would just walk on asphalt.”The tunnel was constructed in parallel with a new tram line. NCC/Bybanen UtbyggingThe new tunnel came about as a byproduct of Bergen’s second Bybanen tram line, which opened in November 2022. The tram line through the mountain required a parallel evacuation tunnel, so the developers decided to make the new tunnel multipurpose.

☆ Women’s soccer is having a moment — except in the boardroom
▼ + stars: | 2023-04-18 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +9 min

Norway’s Karen Espelund was “appointed” not “elected” to the position due to her role as chair of the Women’s Football Committee, UEFA told CNN Sport over email. Norwegian Football Association President Lise Klaveness told CNN that the popularity of soccer isn't mirrored in female representation at UEFA. We tend to forget that because we compare it to the phenomenon of men’s football,” Klaveness says. The prize money for this year’s women’s World Cup, which kicks off on July 20, will increase by 300% to $150 million, FIFA President Gianni Infantino announced last month. “They don’t really know: What are the differences between men’s and women’s football?

☆ Norway private-sector workers go on strike
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +1 min

OSLO, April 16 (Reuters) - Almost 25,000 private-sector workers in Norway will go on strike with immediate effect after negotiations with employers broke down, and the conflict is set to escalate next week, two major labour unions said on Sunday. Another 16,000 workers are due to strike from April 21 unless an agreement is found, and the conflict could ultimately grow to around 200,000 workers, unions have said, but is not expected to affect Norway's production of oil and natural gas. The Norwegian Confederation of Trade Unions (LO) was negotiating on behalf of 185,000 members, while the smaller Confederation of Vocational Unions (YS) represented a further 16,000 in the talks. The Confederation of Norwegian Enterprise (NHO), representing employers, argued wages should not be allowed to rise to an extent that would risk inflation spinning out of control. Norwegian headline inflation is expected to ease to 4.9% in 2023 from 5.8% last year, according to a key report from a commission with members from labour unions, employers' federations and Statistics Norway.

☆ Haaland at it again as Manchester City cut gap to Arsenal
▼ + stars: | 2023-04-15 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

LONDON, April 15 (Reuters) - Manchester City goal machine Erling Haaland reached yet another milestone in his incredible debut season in the Premier League when his two goals helped his side to beat Leicester City 3-1 and move to within three points of leaders Arsenal on Saturday. With Arsenal in action at West Ham United on Sunday, Manchester City seized their chance to apply more pressure by dismantling 19th-placed Leicester before halftime. City now have 70 points from 30 games with Arsenal on 73. Villa have 50 points, with Tottenham on 53 and fourth-placed Manchester United and Newcastle United both on 56. Newcastle and Manchester United, who face Nottingham Forest on Sunday, have played fewer games than Villa and Tottenham.

☆ Rheinmetall wins subcontractor role on Norway's Leopard tank order
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - Rheinmetall has been hired as a subcontractor in the Norwegian armed forces' order for 54 Leopard 2 battle tanks from Krauss-Maffei Wegman (KMW), the German manufacturer said on Friday. Rheinmetall said the contract was worth 129 million euros ($142.74 million) and could increase by 44 million euros if Norway executes an option to buy an additional 18 tanks. A key subcontractor to KMW, Rheinmetall will supply components such as main armaments, fire control technology and parts of the sensor suite over a period of around four years, it said in a statement. Norway had originally planned to acquire 72 tanks, but in recent months focused on a scaled-down purchase after its chief of defence recommended spending more on helicopters, drones and long-range artillery. ($1 = 0.9038 euros)Reporting by Andrey Sychev, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

OSLO, April 13 (Reuters) - Norway is expelling 15 Russian embassy officials that the foreign ministry said on Thursday were intelligence officers operating under the cover of diplomatic positions, a move which Moscow said it would respond to. The expulsions amount to a quarter of Russian diplomats currently accredited in Oslo, the Norwegian government said. It is the latest instance of a Western nation expelling Russian diplomats since the beginning of Moscow's full-scale invasion of Ukraine last year. So far this year, Estonia, the Netherlands and Austria have also expelled Russian diplomats. The Nordic country still seeks to maintain normal diplomatic relations with Russia, and Russian diplomats are welcome in Norway, Huitfeldt said.

☆ UEFA Champions League: Erling Haaland breaks another scoring record as Manchester City humbles Bayern Munich
▼ + stars: | 2023-04-12 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

The Norwegian superstar found the target yet again on Tuesday as Manchester City beat Bayern Munich 3-0 in the first leg of the Champions League quarterfinal at the Etihad Stadium. It’s yet another chapter in the 22-year-old’s astonishing debut season at City, which currently sees him top scorer in both the Premier League and Champions League. When we have the momentum, we are clinical.”Haaland scores his side's third goal during the Champions League quarterfinal first-leg. Tim Goode/APTuesday’s win was a major statement from City which looks serious about winning its first ever Champions League title this season. We need to understand and swallow this kind of defeat.”Elsewhere, Inter Milan beat Benfica 2-0 in Tuesday’s other Champions League quarterfinal first leg – Nicolo Barella and Romelu Lukaku getting the goals.

☆ Norway's sovereign fund opposes Ferrovial's move to the Netherlands
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

MADRID, April 11 (Reuters) - Norway's sovereign fund will oppose Spanish engineering firm Ferrovial's plan to relocate to the Netherlands at the firm's shareholders meeting to be held on Thursday. The $1.4 trillion fund, which holds a 1.49% stake in Ferrovial, said on its website it will vote against the planned reverse merger through which the company would be absorbed by its wholly-owned Dutch subsidiary FISE. The sovereign fund explained its decision on Ferrovial reminding of its general guidelines on corporate decisions. The Norwegian fund will support all the other proposals made by the board to the shareholders, it said. Proxy adviser Glass Lewis & Co said the proposed reverse merger would not have a significant effect on shareholder rights though it could have "negative reputational impact" in Spain.

EURNOK and inflationGoldman Sachs and UBS said that the rising cost of borrowing would likely support the Norwegian crown. But those daily sales are well down from the 4.3 billion crowns per day the central bank sold in October. "Any budget surplus that was generated from the commodity exports was basically being neutralized by the Norges bank," said Simon Harvey, head of FX analysis at Monex. Much of the crown's fate could also depend on what the U.S. central bank does. If the Fed stops hiking rates, this would likely boost global equities, which have a strong positive correlation to the Norwegian crown.

☆ Man City thrash Bayern 3-0 as Haaland reaches another milestone
▼ + stars: | 2023-04-11 | by ( Lori Ewing | ) www.reuters.com time to read: +1 min

MANCHESTER, England, April 11 (Reuters) - Rodri struck a wonder goal and Erling Haaland set another scoring record as Manchester City beat Bayern Munich 3-0 on Tuesday to continue their quest for a first-ever Champions League title in their quarter-final first leg. Haaland, who scored City's third goal of the night in the 76th minute, has 45 goals in all competitions, a single-season record for a Premier League player. What had been an evenly matched game turned thoroughly in City's favour midway through the second half, and Bernardo Silva scored their second in the 70th minute, heading in a cross from Haaland. The Norwegian got a goal of his own six minutes later, striking from close range. Reporting by Lori Ewing Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

☆ City's Haaland on the same level as Messi, Ronaldo - Guardiola
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +1 min

SOUTHAMPTON, England, April 9 (Reuters) - Manchester City manager Pep Guardiola said striker Erling Haaland is of the same calibre as Lionel Messi and Cristiano Ronaldo after the Norwegian international scored twice in Saturday's 4-1 Premier League victory at Southampton. Haaland scored on a header and remarkable bicycle kick, taking his tally to 44 goals in all competitions this season, with 30 of those coming in the Premier League. His total is now tied for the most ever by a Premier League player in all competitions in a single campaign, equalling Ruud van Nistelrooy in 2002-03 and Mohamed Salah in 2017-18. "We have lived two incredible decades with Cristiano Ronaldo and Lionel Messi, but he is on that level," Guardiola told the BBC on Saturday. The 22-year-old, who joined City from Borussia Dortmund, is now four short of the record of 34 goals in a Premier League season set by Alan Shearer and Andy Cole.

☆ Chess-In Carlsen's shadow, chess awaits a new world champion
▼ + stars: | 2023-04-08 | by ( Hritika Sharma | ) www.reuters.com time to read: +3 min

April 8 (Reuters) - Chess will crown a new world champion when Ian Nepomniachtchi and Ding Liren begin their battle on Sunday in the shadow of incumbent Magnus Carlsen, who voluntarily relinquished the title he held since 2013. Neither has held the world title before - a first for the championship. "I can write my name in history," Ding, the first Chinese player to contest the men's world title, told reporters on Saturday. "For me, this world championship match should include the strongest player on the planet, and this match doesn't. Current women's champion Ju Wenjun is scheduled to play a title match against compatriot Lei Tingjie in July.

☆ Credit Suisse braces for stormy shareholder meeting
▼ + stars: | 2023-04-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Credit Suisse is set for a turbulent annual shareholder meeting Tuesday, after its emergency rescue by UBS two weeks ago left investors nursing heavy losses. Credit Suisse (CS) shareholders are expected to vent their anger over the forced takeover of the ailing Swiss lender by its larger rival. Norges Bank Investment Management, a top 10 shareholder in Credit Suisse, said it would vote against the re-election of Credit Suisse chairman Axel Lehmann and six other directors. Last week Credit Suisse withdrew two proposals up for a shareholder vote from its AGM agenda, saying they were no longer necessary following the planned merger with UBS. He is seen as a safe pair of hands capable of integrating Credit Suisse and salvaging core parts of its business.

☆ I spent 5 nights in a 100-square-foot room designed for solo cruisers. Take a look inside the futuristic studio.
▼ + stars: | 2023-04-04 | by ( Lauren Mack | ) www.businessinsider.com time to read: 1 min

I stayed in a studio that was less than 100 square feet during my six-day cruise aboard the Norwegian Getaway. Lauren MackI booked my six-day trip aboard the Getaway directly through Norwegian Cruise Line just four days before the ship's departure. I reserved the last available studio for $700 (plus an additional $285 for taxes and service charges). Because they're single-occupancy cabins, the cruise line doesn't charge a supplemental fee to stay in them alone. Here's what it was like spending five nights in a studio that measured just under 100 square feet.

Persons: Lauren Mack Organizations: Norwegian Cruise Line Locations: Norwegian

☆ Norwegian wealth fund seeks Credit Suisse boardroom shake-up
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] Chairman of the Board of Directors of Credit Suisse, Axel Lehmann, attends a news conference after UBS's takeover offer, in Bern, Switzerland, March 19, 2023. REUTERS/Denis Balibouse/File PhotoApril 2 (Reuters) - Norges Bank Investment Management will vote against the re-election of Credit Suisse (CSGN.S) Chair Axel Lehmann and six other directors at the Swiss lender's annual general meeting on Tuesday, the Norwegian wealth fund said on its website. "Shareholders should have the right to seek changes to the board when it does not act in their best interest," the Norges wealth fund said ahead of the April 4 meeting. In addition to Lehmann, Norges is also opposing re-election of Credit Suisse directors Iris Bohnet, Christian Gellerstad, Shan Li, Seraina Macia, Richard Meddings and Ana Pessoa. Credit Suisse declined to comment and UBS did not immediately respond to a request for comment.

☆ Haaland's absence fails to stop Man City from hammering Liverpool
▼ + stars: | 2023-04-01 | by ( Lori Ewing | ) www.reuters.com time to read: +2 min

"Nothing changed," Guardiola said after his 100th win at Etihad with City. The club made an exceptional signing with him – he's a world champion alongside Lionel Messi because he has something." His fitness is unclear, although TV cameras caught him on his feet wildly celebrating Alvarez's goal. The City manager pumped his fists wildly after Alvarez's goal and then confronted Liverpool substitutes Kostas Tsimikas and Arthur Melo when they walked by him on the sidelines seconds later. "Manchester City are disappointed to have heard inappropriate chants from home fans during today's game," the team said.

☆ Norway wealth fund to consider investing in unlisted equities
▼ + stars: | 2023-03-31 | by ( Victoria Klesty | ) www.reuters.com time to read: +2 min

OSLO, March 31 (Reuters) - Norway's $1.3 trillion wealth fund, one of the world's largest investors, should assess whether to begin investing in unlisted equities, the finance ministry said on Friday, which would be a brand new asset class for the fund. Managed by a unit of the central bank, it is invested in more than 9,200 companies globally and owns on average 1.5% of all the world's listed stocks. It could be presented to parliament next year, Finance Minister Trygve Slagsvold Vedum told Reuters. Asked whether this could increase the fund's exposure to risk, Vedum said that would be one of the questions to be examined. But when we open for this now, it's just because we want to have a thorough evaluation of that," Vedum told Reuters.

☆ Europe's energy landscape will never be the same, says Norwegian official
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEurope's energy landscape will never be the same, says Norwegian officialAndreas Bjelland Eriksen, Norway's energy state secretary, says the Norwegian continental shelf has become "extremely important" for Europe's energy system.

The Arctic Council was created in 1996 to discuss issues affecting the polar region, ranging from pollution to local economic development to search-and-rescue missions. The Arctic Council comprises the eight Arctic states of Russia, the United States, Canada, Finland, Norway, Iceland, Sweden and Denmark. Russia's possible degree of involvement with the Council once Norway takes over is still unclear. Russian Foreign Minister Sergei Lavrov had earlier extended an invitation to Arctic officials to attend a transition ceremony in Salekhard, Siberia. Russian Arctic Ambassador Nikolay Korchunov, chair of the Senior Arctic Officials on the council, told Reuters the transition would "presuppose active and responsible participation of all Arctic Council member states in this preparatory process."

☆ Weapons firm says it can't meet soaring demand for artillery shells because a TikTok data center is eating all the electricity
▼ + stars: | 2023-03-27 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +4 min

An arms manufacturer complained that TikTok's data center is using all the electricity in the region. However, in the area of Norway where Nammo operates, its defense work gets no priority over any other users of electricity. The energy company told the FT that it has no spare capacity for Nammo to hike its output as it has been promised to TikTok. It found that data centers can often require the "same amount of energy as a large town," and could account for "29% of electricity demand in Ireland by 2028." TikTok also has plans to build what will be the largest data center campus in Norway by November 2023.

☆ Norway wealth fund to vote in favour of UniCredit remuneration plan
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +1 min

OSLO, March 26 (Reuters) - Norway's $1.3 trillion sovereign wealth fund, one of the world's largest investors, will vote in favour of the UniCredit (CRDI.MI) remuneration package, it said on Sunday. The Italian bank is due to hold its annual meeting of shareholders on March 31. Orcel's current pay package of up to 7.5 million euros ($8.06 million) a year makes the former head of investment banking at Swiss lender UBS (UBSG.S) one of Europe's best paid bank executives. The Norwegian fund owns 2.65% of UniCredit's shares, worth some $728 million, at the end of 2022, according to fund data. ($1 = 0.9301 euros)Reporting by Nora Buli, writing by Gwladys Fouche, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.

☆ Inside Ukraine’s scramble for “game-changer” drone fleet
▼ + stars: | 2023-03-24 | by ( Max Hunder | ) www.reuters.com time to read: +10 min

It is hoping that domestic drone makers like AeroDrone will help it meet its ambitious goals. The government is now working with more than 80 Ukraine-based drone manufacturers, Ukraine's Defence Minister Oleksii Reznikov told Reuters. RUSSIAN TERRITORYThe range and potency of Ukraine's drones is a sensitive issue. Danilov, the national security council head, acknowledged Ukraine’s reliance on other countries for more high-tech drone components. "We are trying to fulfil our needs in this sector with domestic production, but we realise that it's unlikely we will be able to fulfil everything," he said.

☆ Norway wealth fund to vote for labour rights motion at Starbucks AGM
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Starbucks coffee shop is seen in downtown Los Angeles, California, U.S., June 29, 2022. REUTERS/Lucy NicholsonOSLO, March 23 (Reuters) - Norway's $1.3 trillion wealth fund, one of the world's largest investors, will vote in favour of a shareholder motion calling on Starbucks (SBUX.O) to report on how it respects labour rights, the fund's manager said on Thursday. The Norwegian fund owns 1.05% of Starbucks' shares, worth $1.2 billion at the end of 2022, according to fund data. Norges Bank Investment Management (NBIM), which operates the Norwegian wealth fund, said it would vote in favour of commissioning a third-party assessment of Starbucks' commitment to freedom of association and collective bargaining rights. "Freedom of association and the right to collective wage bargaining are fundamental employee rights - and human rights," they said.

☆ Dollar edges lower ahead of Fed, BOE
▼ + stars: | 2023-03-21 | by ( ) www.cnbc.com time to read: +2 min

The dollar edged lower and sterling fell on Tuesday as traders reckoned banking stress would keep the Federal Reserve and the Bank of England from hiking rates much further, or at all, later in the week. But European banks rallied on Tuesday for a second consecutive day eased some of those fears following UBS Group's state-backed takeover of Credit Suisse. The dollar has followed those expectations lower, though general nervousness in financial markets has tempered selling. The greenback ticked about 0.51% higher to $1.0774 per euro , while the dollar index, which measures the U.S. currency against six peers, was 0.15% lower at 103.10. The Norwegian crown rose 0.35% to 10.6120 per dollar, after falling last week to its lowest level since early October.

☆ Equinor sees "a lot of interest" in long-term gas deals, CEO says
▼ + stars: | 2023-03-17 | by ( Nora Buli | ) www.reuters.com time to read: +1 min

Companies Equinor ASA FollowBERGEN, Norway, March 17 (Reuters) - Equinor (EQNR.OL) has seen significant interest among gas buyers in Europe for entering into long-term supply contracts lasting between three and 10 years, the Norwegian company's CEO told Reuters on Friday. "Long-term contracts for us means three to 10 years and we see that there is a lot of interest for long-term contracts at the moment," Equinor CEO Anders Opedal told Reuters. The visit underlines the importance of the relationship between the European Union and non-EU Norway when it comes to energy, Opedal said. "It shows how important it is that we focus both on security of supply and the security on the installations," he said. Troll alone supplies 11% of all gas consumed in the EU, according to Equinor.

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