The Norwegian company, Erimsa, part of the Chinese multinational Blue Star, has made an investment of EUR €2.2 million in the municipality of Bóveda de Río Almar (Salamanca).

The aim of this project is to produce 100,000 tons of quartz, and up to an additional 200,000 tons of aggregates for the construction industry.

The plant is located in the district of Peñaranda de Bracamonte and will create more than 50 direct jobs. It will also enable the annual production of 100,000 tons of quartz and up to 200,000 tons of aggregates for sustainable construction projects.

The new site will be operational from 1 April, and will increase the annual production of quartz by 65% compared to the facilities the company has worked in since 1996.

The company, which operates in Castilla y León and Galicia, employs more than 235 workers directly, and will be exporting the entire amount of metallurgical quartz it processes.

NCC has been commissioned to construct a new ferry harbor, as well as two new bridges, in Larvik, 120 kilometers north of Bergen.

The order is valued at approximately SEK 250 million and will be registered among orders in the first quarter of 2013.

The project is part of the refurbishment of the ferry service between Lavik and Oppedal, which in turn is part of the E39 expressway and the most important link between the north and south parts of Western Norway.

“This will be a central part of the refurbishment of the road and ferry network in this part of Norway, where we already have several other road and tunnel projects in progress,” says Henning Simonsen, District Manager at NCC Construction Norway.

The project comprises a new harbor area in Lavik, a new section of the E39 expressway near the beach area and a new bridge and intersection to public highway 607. In addition, the existing E39 through Lavik will be repaired. All this entails 1,8 kilometer of road, including 760 meters of new pedestrian and cycle paths. Parking spaces will also be built at the harbor area.

The project is scheduled for completion in August 2015.

The project will be registered among orders in the NCC Construction Norway business area.

Norway performs exceptionally well in overall well-being according to ranking among the top countries in a large number of the topics in OECD’s Better Life Index.

The index is based on 11 topics the OECD has identified as essential in the areas of material living conditions and quality of life. With its low unemployment rate and high level of tertiary education and income, Oslo figures centrally in the high overall Norwegian ranking.

Read mote here

Source – Oslo Teknolpol IKS

Leading Norwegian clothing retailer is aiming for 210 stores in Finland by the year 2015.

Norway’s leading clothing retailer Varner-Gruppen is expanding its operations in Finland. According to Varner-Gruppen’s CEO Marius Varner, the time is right for the company to focus specifically on the Finnish market.

Varner-Gruppen is aiming to have 100 Dressmann stores, 30 Carlings stores, 50 Cubus stores, and 30 Bik Bok stores in Finland by the year 2015. The latest Bik Bok store opened in the Kamppi shopping centre in Helsinki on 29 November 2012 and is aimed at fashion conscious young women.

Increased profits expected

According to Varner-Gruppen, its operating income in Finland increased from NOK 471.8 million in 2010 to NOK 524.5 million in 2011. The number of stores also increased from 71 in 2010 to 97 in 2011. The increase in operating income was due to Cubus’ entry into the market with 11 stores during 2011.

The company’s operating profit in Finland was NOK 18.2 million in 2011 and a significant improvement in operating profit is expected in 2012. Varner-Gruppen has 12 chain store concepts with a total of 1244 stores in 8 countries.

Sources: Varner-Gruppen

Upon launch, broadband Internet users in the Nordic countries can subscribe to Netflix and instantly watch a wide array of Hollywood, local and global TV shows and movies; many with high definition video and Dolby Digital Plus surround sound.

Netflix has revolutionized entertainment by giving people a choice to enjoy what they want to watch from its broad selection, when they want to watch it, where they want to watch it for one low monthly price over a wide-range of Internet-connected devices. These devices include PCs, Macs, Smart TVs, game consoles, Blu-ray disc players, smartphones and tablets.

Now the world's leading Internet subscription service for TV and movies, Netflix has been streaming to millions of U.S. members since 2007, adding Canada in 2010, Latin America in 2011 and the UK and Ireland in early 2012. Using the unique Netflix recommendation engine, each member is presented a personalized list of TV and film titles to enjoy from the Netflix library.

About Netflix

With more than 27 million streaming members in the United States, Canada, Latin America, the United Kingdom and Ireland, Netflix, Inc. (NASDAQ: NFLX) is the world's leading internet subscription service for enjoying movies and TV programs. For one low monthly price, Netflix members can instantly watch movies and TV programs streamed over the internet to PCs, Macs and TVs. Among the large and expanding base of devices streaming from Netflix are the Microsoft Xbox 360, Nintendo Wii and Sony PS3 consoles; an array of Blu-ray disc players, internet-connected TVs, home theatre systems, digital video recorders and internet video players; Apple iPhone, iPad and iPod touch, as well as Apple TV and Google TV.

No other innovation convention in Europe has got as many separate events, involving as many people and organisations, for as many days as Oslo Innovation Week.

During the week of 15-19 October 2012, about 45 different events focused around innovation and growth will take place in the Oslo city region.

OIW is organised for the seventh time this year. To have five full days filled with various events at different locations is unique, and up to 5000 people are expected to take part in the activities. More than 100 organisations and businesses are involved in making it all happen.

The theme for this year’s convention is attractiveness for the capital region. The main aim of Oslo Innovation Week is to build bridges between entrepreneurs, investors and knowledge environments in order to promote and create new business and growth.

Oslo Teknopol is secretariat to Oslo Innovation Week. See also www.oiw.no

The Norwegian health industry has flourished in the recent years, especially in the fields of pharmaceuticals and biotechnology, with the main industry players, Photocure, Algeta and Clavis, situated in the Oslo region.

The health industry is one of the industries with highest potential, and according to a 2011 survey conducted by The Research Council of Norway, the majority of Norwegian managers believe that biotech will become as important in the future as the oil and gas industry is today.

According to a national analysis, A knowledge-based Norway, the Norwegian health industry scores high in science and innovation attractiveness – important factors in global competitiveness. One of the reasons for the high score in science and innovation is explained by the highly innovative diagnostic firms with more than 50% of firms reporting product innovation. Diagnostic and treatment firms are also dedicating substantial resources and personnel to R&D.

Furthermore, the economic activity in the Norwegian health industry is highly concentrated in the Oslo region, where the emerging health clusters are situated; Oslo Cancer Cluster, Oslo Medtech and Nansen Neuroscience Network.

The analysis also mentions health related biotechnology as the largest opportunity in the future.

By the end of April, NOK 297.5 billion had been paid in taxes in Norway. This is an increase of 10.2 per cent from last year. NOK 73.1 billion has been paid in taxes on extraction of petroleum.

The sum of petroleum taxes consists of NOK 27.7 billion paid in ordinary petroleum tax and NOK 45.4 billion paid in special income tax on petroleum extraction. These sums have increased by NOK 5.4 billion and NOK 9 billion respectively from the corresponding period last year.

With the exception of petroleum taxes, the tax equalisation contributions to the central government paid through the non-personal taxpaying arrangement has been the most important source of income in April. NOK 24.5 billion was paid this month and the total for this year now stands at NOK 50.9 billion.

Including petroleum taxes and ordinary taxes to municipalities, counties and the central government, taxes paid through the non-personal taxpaying arrangement total NOK 129.9 billion from January through April 2012. This represents an increase of 14.5 per cent from the corresponding period of 2011.

NOK 167.3 billion has been paid through the advance tax arrangement so far this year including NOK 31.5 billion in member contributions and NOK 46.3 billion in employer contributions to the National Insurance Scheme. The sum of these contributions has increased by 7.3 per cent from the four first months of 2011.

Source – Statistics Norway

Liquidity squeeze as business debt write-offs escalate - Research by leading European credit management services company, Intrum Justitia, shows that European businesses are being severely squeezed by liquidity problems.

57% of businesses claim to have problems with liquidity due to late payments, an increase of 10% in the last twelve months. The Intrum Justitia European Payment Index 2012 (EPI 2012) also shows the debt written off by European businesses reaching a record high of €340 billion.

The EPI 2012 survey of more than 7,800 European businesses in 28 countries shows that the European economy is a mixed picture – both in relation to problems with liquidity and written-off debts. Germany and the Nordic countries show considerable strength, whereas other countries, primarily in South and East Europe, are facing great problems.

“The fragmented picture that appeared in last year’s EPI has even been reinforced this year. Alarmingly high shares of businesses in countries such as Greece, Portugal and Spain have problems with liquidity due to late payments. Written-off debts also continue to rise in several countries. In Greece, Bulgaria and Romania, more than one out of every €20 in sales is written off as bad debt. Larger economies such as the UK and Poland are also displaying surging debt write-offs,” comments Intrum Justitia CEO, Lars Wollung.

The prolonged economic and financial difficulties are starting to take a toll. 55 percent of businesses claim that the recession has lead to problems with liquidity, a 17 percent rise over the previous year.

The eighth edition of the EPI also shows that businesses are trying to handle the liquidity problems by decreasing the contracted days to payment. On average, the number of contracted days to payment in business-to-business payments has decreased from 36 to 32 days. The average number of days in payment delay remains at 20 days.

“Businesses in Europe are trying to cope but are caught in a vicious circle trying to pay their invoices as late as possible and trying to get paid as early as possible”, says Lars Wollung.

The measures taken by European and International bodies to stall the international financial crisis in general and the Euro crisis specifically have to a large extent focused on saving the banks and the financial system. The survey, however, shows that 47 percent of business in Europe claim to have less confidence in banks being able to support them, whilst only 5 percent claim to have more confidence. This indicates that only a small fraction of financial help actually reaches the businesses.

“A working financial system is vital for the economy as a whole, but if the vast sums spent on saving the banks never trickle down to the businesses that produce goods and services, the road to economic recovery will be a long and rough ride. Businesses’ low confidence in banks is very troubling. An even more striking insight is that only three out of ten businesses are confident that governments will be able to support them,” says Lars Wollung.

With low confidence in banks’ and governments’ ability to support them, businesses in Europe are left on their own. Nor does the situation appear to offer any hope of improvement in the near future – 94 percent of businesses see the risks from their debtors increasing or remaining at the same level in the next 12 months. Intrum Justitia therefore suggests the following ten steps to help businesses help themselves:

1. Create and implement a solid credit policy to manage your risks and increase revenue
2. Follow up on every step in your credit management process
3. Make sure you identified the customer you are doing business with
4. Make a clear agreement with your customer stating all conditions for your business
5. Integrate sales, marketing and financial department in avoiding defaults
6. Implement customer address checks regularly
7. Monitor economic & industry information, and the solvency of key customers
8. Implement swift reminders and possibly charge default interest
9. Always extend and balance your customer structure
10. Never, ever wait, always take immediate action to get paid

Download EPI 2012 Europe Map

Download EPI Tables 2012

About the European Payment Index
The survey was conducted simultaneously in 28 countries between January and March 2012. The survey was conducted in written form and more than 7,800 companies responded. This is the eighth year that Intrum Justitia has run the survey. 

The questionnaire was translated into the respective national languages. Dispatch and return of the questionnaires were carried out on a decentralized basis by the countries concerned, whereas the analysis was carried out centrally in accordance with predetermined guidelines. All information has been verified and uncertainties were not included in the evaluation. Furthermore, not all anonymously sent questionnaires were taken into account for the evaluation. Companies in England, Wales, Scotland and Ireland were questioned online by a specialized company (BING Research). Bulgaria, Slovenia and Romania were researched by the countries and double checked against a separate on-line survey by a specialized company (BING Research).

The Norwegian Government has proposed to Parliament (Storting) the establishment of a new state-owned company to manage the Norwegian state-funded export credit scheme.

The name of the new company is to be Eksportkreditt Norge AS (Export Credit Norway).

The company will be organized as a state-owned limited liability company and is to be established by 1 July 2012.

- Export Credit Norway will be established in order to ensure a robust and competitive export financing scheme for Norwegian industry. The loans will be financed by the state, which ensures companies’ access to credit in situations where credit is not available in the capital markets. All loan applicants who meet the requirements will be offered loans, says Minister of Trade and Industry, Trond Giske.

Export Credit Norway is to provide loans for export financing in the form of state-subsidised CIRR loans and CIRR-qualified market loans on commercial terms. CIRR loans are loans granted to borrowers for financing of export projects on terms compliant with the OECD “Arrangement on Officially Supported Export Credits”. The rate of interest is fixed on conclusion of the agreement, while the loan is normally disbursed somewhat later. Before drawing on the loan, the borrower may choose to take advantage of either the previously fixed CIRR interest rate or the current market rate. Loans at the current market rate are referred to as CIRR-qualified market loans.

Export Credit Norway will take responsibility for the whole process associated with sale and promotion, processing of applications, granting, disbursing and following up loans. Loans provided by the company will be owned by the government and recorded in the government balance sheet. The company will receive grants from the government for its entire operations.

The grants will be specified by the Storting in the annual budgets. All loan applicants who meet the requirements will be offered loans, and there will be no limit concerning large exposures.  It is proposed that further rules concerning the company’s activities and the relationship to other legislation be provided by law.

(Press release)

Boeing’s new long-haul aircraft, the 787 Dreamliner, visits Norway and Scandinavia for the first time on May 1.

The visit is a part of the aircraft’s world tour – The 787 Dream Tour – where Norwegian’s future customers and partners have the opportunity to experience the airplane up close. Norwegian currently has – as the only Scandinavian airline six Dreamliner on order.

The aircraft lands at Oslo’s Gardermoen airport on Tuesday May 1; during the three-day visit, media, Norwegian’s contacts and close partners will get a tour of the plane.

”We look forward to the Dreamliner visit, not least to show off the latest and most technologically advanced aircraft in modern aviation. This is an aircraft for the future, with a high passenger comfort and lower operational costs. The low fuel burn makes this aircraft the most environmentally friendly option for our long haul operation.,” said CEO Bjørn Kjos.

Facts about the 787 Dreamliner

20 percent less fuel per passenger compared to aircraft of similar size

25-30 percent lower NOx emission than comparable aircraft

Low cabin noise

Larger windows

Higher cabin humidity – less dry air

The aircraft’s makes the turbulence less noticeably

The 787 can fly more than 1,000 kilometers farther than competing aircraft

The Internet economy is growing more than 10 percent per year in the G-20 nations.

No one—no individual, business, or government—can afford to ignore its ability to deliver more wealth to more people more broadly than any economic development since the Industrial Revolution.

This report quantifies the Internet’s economic impact. Read more at Boston Consulting Group – The Connected World

Spin-offs from the oil business are moving north along the Norwegian coast. Increased activity offshore means higher revenues for the coastal towns.  

We have taken the pulse of Norway's newest oil port, Sandnessjøen in the northern Helgeland region.

Read The Norwegian Continental Shelf No.1-2012

Nearly fifty per cent of Norwegian industrial firms believe they will have higher income in 2012 than last year, despite uncertainty and unrest in the international economy, according to TNS Gallup.

According to the poll, 45 per cent of the 1478 companies asked replied that they will earn more money in 2012 than the year before.

Sixteen per cent believe they will earn less.

Asked about expected turnover, the result is the same: 48 per cent believe in an increase, Aftenposten reports.

The world’s biggest producer of offshore supply vessels opens their first office outside of China in Fosnavåg, Sunnmøre.

Sinopacific Shipbuilding Group establishes a Norway office. The shipbuilding giant is one of China's largest privately owned shipbuilding groups, with revenues of more than 1.4 billion Euros.

Sinopacific Shipbuilding group is the world's biggest producer of offshore supply vessels, and will in 2011 deliver 29 such ships, more than all the Norwegian shipyards combined.

Through the Norwegian company Sinopacific Norway the shipbuilding group will have an important channel into the innovative maritime cluster in Sunnmøre, and to the offshore sector in Europe.

Source - Nortrade

Norge står som vanligt emot den globala lågkonjunkturen bäst. Norsk BNP-tillväxt väntas bli 2,2 procent 2012 och 2,5 procent 2013, meddelar SEB.

I linje med andra centralbanker sänker Norges Bank räntan i slutet av året och ligger därefter still under större delen av 2012 för att sedan försiktig höja. Förutsättningarna för god tillväxt beror på finanspolitiskt utrymme. Politiken för dock med sig risker för alltför snabb kreditexpansion och stigande huspriser.

Läget i Danmark är mer bekymmersamt och utvecklingen påverkas starkt av tillväxtutsikterna i eurozonen och fortsatta svagheter på bostadsmarknaden. Tillväxten väntas bli 1,0 procent 2012 och 1,4 pro-cent 2013.

Finland påverkas också negativt av den globala inbromsningen, men det finns inget behov av ytterligare budgetbesparingar. ECB:s räntesänkningar och en svagare euro hjälper Finland som väntas få en tillväxt på 1,2 procent 2012 och 2,0 procent 2013.

Estland, Lettland och Litauen står inför en tydlig exportledd inbromsning. Stålbadspolitiken har varit smärtsam men trovärdig och framgångsrik. BNP-tillväxten hamnar i regionen 2-4 procent 2012 respektive 2013. En försiktigt ökande inhemsk efterfrågan, bland annat med hjälp av stärkt köpkraft för hushållen när energi- och matprisinflationen avtar, ger tillväxtstöd men förbättringen på arbetsmarknaden går långsamt och Baltikum undgår inte Europas lågkonjunktur. Strukturproblem på arbetsmarknaden och en alarmerande demografisk utveckling utgör hot mot de tre ländernas långsiktiga tillväxtförmåga.