Today in Norway: A roundup of the latest news on Friday
Pilots' strike caused heavy losses for SAS, Norwegians return to Sweden for cheap groceries, a new energy price record, plus other news from Norway on Friday.
Heavy losses for SAS due to strike
Scandinavian Airlines has posted crushing third-quarter results — a deficit of 1.4 billion Swedish kroner before tax. The company says strikes contributed a billion kroner to those losses.
An influx of cash from an American investor in August provided a lifeline for the struggling airline, which the Norwegian state previously provided with crisis loans.
The strike in July led to the airline cancelling over 4,000 flights, disrupting 380,000 passengers.
Border shopping in Norway back to pre-pandemic levels
Norwegians are heading to neighbouring countries for cheaper groceries at levels seen before the pandemic, the latest figures from Statistics Norway.
Cross-border trade was more or less prohibited when Norway introduced strict border measures in March 2020. Border restrictions due to the pandemic would continue in one form or another until November 2021.
During April, May and June, Norwegians spent 3.6 billion kroner during shopping trips to neighbouring countries.
“This was the first quarter that was not marked by travel restrictions in connection with the corona outbreak since the end of 2019. Cross-border trade has quickly recovered to the same level as in the years before the pandemic,” Kristin Aasestad at Statistics Norway said.
Many in eastern Norway will head to Sweden for cheaper goods and a more varied selection.
Mortgage rates could hit 5 percent by next summer
Mortgage interest rates could rise to 5 percent, two percentage points higher than current levels, by next summer, according to a new forecast.
Interest rate broker Thomas Nordvang at Sparebank 1 Nord-Norge told Norwegian newswire NTB that it is widely expected that mortgage rates will rise sharply.
Last week, Norges Bank said it expected mortgage rates to hit four percent by the end of the year.
Energy prices set new records on Friday
Once again, southern and western Norway will see new price records on Friday.
In southwest Norway, there will be an average price of 6.25 kroner per kWh and a maximum price of 6.97 kroner per kWh.
Southern-eastern and western Norway will see an average price of 4.72 kroner per kWh, and a maximum price of 5 kroner, according to energy price exchange Nord Pool.
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Heavy losses for SAS due to strike
Scandinavian Airlines has posted crushing third-quarter results — a deficit of 1.4 billion Swedish kroner before tax. The company says strikes contributed a billion kroner to those losses.
An influx of cash from an American investor in August provided a lifeline for the struggling airline, which the Norwegian state previously provided with crisis loans.
The strike in July led to the airline cancelling over 4,000 flights, disrupting 380,000 passengers.
Border shopping in Norway back to pre-pandemic levels
Norwegians are heading to neighbouring countries for cheaper groceries at levels seen before the pandemic, the latest figures from Statistics Norway.
Cross-border trade was more or less prohibited when Norway introduced strict border measures in March 2020. Border restrictions due to the pandemic would continue in one form or another until November 2021.
During April, May and June, Norwegians spent 3.6 billion kroner during shopping trips to neighbouring countries.
“This was the first quarter that was not marked by travel restrictions in connection with the corona outbreak since the end of 2019. Cross-border trade has quickly recovered to the same level as in the years before the pandemic,” Kristin Aasestad at Statistics Norway said.
Many in eastern Norway will head to Sweden for cheaper goods and a more varied selection.
Mortgage rates could hit 5 percent by next summer
Mortgage interest rates could rise to 5 percent, two percentage points higher than current levels, by next summer, according to a new forecast.
Interest rate broker Thomas Nordvang at Sparebank 1 Nord-Norge told Norwegian newswire NTB that it is widely expected that mortgage rates will rise sharply.
Last week, Norges Bank said it expected mortgage rates to hit four percent by the end of the year.
Energy prices set new records on Friday
Once again, southern and western Norway will see new price records on Friday.
In southwest Norway, there will be an average price of 6.25 kroner per kWh and a maximum price of 6.97 kroner per kWh.
Southern-eastern and western Norway will see an average price of 4.72 kroner per kWh, and a maximum price of 5 kroner, according to energy price exchange Nord Pool.
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