Today in Norway: A roundup of the latest news on Wednesday
New regulations to limit foreign tour busses, tens of thousands of bank customers overcharged in fees, and other news from Norway on Wednesday.
Big changes to the tour bus industry
Starting from January 1st, 2024, significant changes are set to affect the tour bus industry in Norway.
In an official press release, the Norwegian Ministry of Transport announced strict limitations on foreign bus companies conducting passenger transport on Norwegian roads.
Under the new regulations, foreign bus companies will only be allowed to provide passenger transport services for a maximum of 20 consecutive days and a total of 30 days throughout the calendar year.
These measures aim to create a level playing field in the industry and prevent social dumping.
Norwegian Transport Minister Jon-Ivar Nygård said the guidelines would promote fairness within the sector but also ensure that domestic transportation services in Norway are conducted in compliance with established standards.
Over 40,000 Norwegian bank customers overcharged in fees
A recent report from the Financial Supervisory Authority of Norway (Finanstilsynet) has uncovered an issue that has affected more than 40,000 bank customers in Norway.
According to the report, they have paid excessive collection fees to various Norwegian banks.
Norwegian banking giant Nordea alone has identified 26,000 cases of such overcharging within its operations in Norway, the bank told the newspaper Dagens Næringsliv.
The current estimates point to the fees totalling several tens of millions of Norwegian kroner.
Fortunately, affected customers have a path to get their money back. Those who have paid inflated fees are entitled to reimbursement, covering reminder fees, out-of-court costs, and the associated interest charges.
Sparebank 1 SR-Bank increases interest rate
Sparebank 1 SR-Bank announced changes in its interest rates, the newspaper E24 reported on Tuesday.
In this adjustment, mortgage interest rates will experience a moderate increase, with the maximum rise being 0.15 percentage points.
At the same time, the bank is boosting interest rates on all savings accounts by 0.25 percentage points, according to the bank's statement.
"We see that the expected development in the bank's borrowing costs allows us to hold back somewhat on our home mortgage rates, while we choose to raise the rates on our savings accounts more. We know that many of our personal customers are feeling the increased rates, and we will follow them up closely going forward. We encourage customers who need to make a financial plan to contact the bank," SpareBank 1's Roger Lund Antonesen said on Tuesday.
Norway boosts aid to Afghanistan by 70 million kroner
Norway has announced an increase in its support to Afghanistan, with an additional 70 million kroner in funding, the Norwegian news bureau NTB reported on Tuesday.
The increased support is allocated to the UN High Commissioner for Refugees and the UN Food Program. These funds are specifically aimed at aiding Afghans who have returned to Afghanistan from Pakistan.
With this latest contribution, Norway's total humanitarian aid to Afghanistan for the year stands at 320 million kroner, the Ministry of Foreign Affairs said via its website.
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Big changes to the tour bus industry
Starting from January 1st, 2024, significant changes are set to affect the tour bus industry in Norway.
In an official press release, the Norwegian Ministry of Transport announced strict limitations on foreign bus companies conducting passenger transport on Norwegian roads.
Under the new regulations, foreign bus companies will only be allowed to provide passenger transport services for a maximum of 20 consecutive days and a total of 30 days throughout the calendar year.
These measures aim to create a level playing field in the industry and prevent social dumping.
Norwegian Transport Minister Jon-Ivar Nygård said the guidelines would promote fairness within the sector but also ensure that domestic transportation services in Norway are conducted in compliance with established standards.
Over 40,000 Norwegian bank customers overcharged in fees
A recent report from the Financial Supervisory Authority of Norway (Finanstilsynet) has uncovered an issue that has affected more than 40,000 bank customers in Norway.
According to the report, they have paid excessive collection fees to various Norwegian banks.
Norwegian banking giant Nordea alone has identified 26,000 cases of such overcharging within its operations in Norway, the bank told the newspaper Dagens Næringsliv.
The current estimates point to the fees totalling several tens of millions of Norwegian kroner.
Fortunately, affected customers have a path to get their money back. Those who have paid inflated fees are entitled to reimbursement, covering reminder fees, out-of-court costs, and the associated interest charges.
Sparebank 1 SR-Bank increases interest rate
Sparebank 1 SR-Bank announced changes in its interest rates, the newspaper E24 reported on Tuesday.
In this adjustment, mortgage interest rates will experience a moderate increase, with the maximum rise being 0.15 percentage points.
At the same time, the bank is boosting interest rates on all savings accounts by 0.25 percentage points, according to the bank's statement.
"We see that the expected development in the bank's borrowing costs allows us to hold back somewhat on our home mortgage rates, while we choose to raise the rates on our savings accounts more. We know that many of our personal customers are feeling the increased rates, and we will follow them up closely going forward. We encourage customers who need to make a financial plan to contact the bank," SpareBank 1's Roger Lund Antonesen said on Tuesday.
Norway boosts aid to Afghanistan by 70 million kroner
Norway has announced an increase in its support to Afghanistan, with an additional 70 million kroner in funding, the Norwegian news bureau NTB reported on Tuesday.
The increased support is allocated to the UN High Commissioner for Refugees and the UN Food Program. These funds are specifically aimed at aiding Afghans who have returned to Afghanistan from Pakistan.
With this latest contribution, Norway's total humanitarian aid to Afghanistan for the year stands at 320 million kroner, the Ministry of Foreign Affairs said via its website.
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