Doublethink: the Two Faces of Norway's Foreign and Development
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Strategy 2022 Strategy 2022 Laid Down by the Executive Board
STRATEGY 2022 STRATEGY 2022 LAID DOWN BY THE EXECUTIVE BOARD One Bank The strategy for the period to 2022 marks a new contribute to cost-efficient solutions and under- chapter in Norges Bank’s more than 200-year- line the Bank as a single organisation. At the long history. The Storting (Norwegian parliament) same time, the two operational areas will retain has passed a new central bank act, thereby their distinctive professional characteristics and establishing the framework for the Bank’s tasks responsibility for performance. and activities ahead. In following up these changes, it is now natural The main features of Norges Bank’s activities are for the Executive Board to present a compre- retained in the new act. While our mission hensive strategy for the whole of Norges Bank remains the same, the Bank’s independence has that provides guidance for the organisation over been more clearly defined. Our responsibility as the next three years. In addition, the Executive manager of the Government Pension Fund Global Board has approved a strategy for management (GPFG) is now enshrined in law. At the same time, of the GPFG, in accordance with the Bank’s the governance structure of Norges Bank has mandate. been changed as the Storting has established by statute an expert committee for monetary policy As a nation, we increasingly depend on the world and financial stability. The Executive Board will around us. The global backdrop is characterised continue to be responsible for overall governance by turbulence and uncertainty associated with of the Bank, tasks within the payment system, trade barriers, the risk of a global downturn and and management of the GPFG and the Bank’s geopolitical instability. -
71877/687532 09/5380- 18.09.2014
A ROYAL NORWEGIAN MINISTRY OF HEALTH AND CARE SERVICES EFTA Surveillance Authority Rue Belliard 35 B-1040 Brussel Your ref Our ref Date 71877/687532 09/5380- 18.09.2014 Response from the Norwegian Government to the EFTA Surveillance Authority’s letter of formal notice - legislation on private import of alcohol 1. INTRODUCTION Reference is made to the EFTA Surveillance Authority’s (“the Authority”) letter of formal notice to Norway for maintaining in force certain legislation on private import of alcohol, dated 18 June 2014. The letter was forwarded from the Norwegian Ministry of Finance to the Norwegian Ministry of Health and Care Services, which is responsible for the Norwegian legislation on alcohol. By the Authority’s e-mail of 3 July 2014, an extension of the deadline for Norway’s response was granted until 18 September 2014. On behalf of the Norwegian Government (“the Government”), the Ministry of Health and Care Services hereby gives its response to the letter of formal notice. The Government respectfully submits that the Norwegian requirement on functional and structural separation between the undertaking selling the alcoholic beverages and the undertaking delivering the beverages does not violate Article 11 and/or 36 EEA. The Government refers in this regard to its letters of 21 August 2012, 20 December 2012 and 24 January 2014, as well as to its letter of 21 December 2009'. In addition, the Government would like to make the following remarks. 1 Complaint concerning the import an distribution of alcohol in Norway, case 67389/539008. See the remarks on question 4 and 5.___________________________________________________________ Postal address Visiting address Telephone* Departement of Public Our officer POBox 8011 Dep Teatergt, 9 +47 22 24 90 90 Health Hege Christina 0030 Oslo Vat no. -
1 Introduction
Brussels, 18 June 2014 Case No: 71877 EventNo:687532 Dec No: 22lll3lCOL Ministry of Finance Postboks 8008 Dep N-0030 Oslo Norway Dear Sir or Madam, Subject: Letter of formal notice to Norway for maintaining in force certain legislation on private importation of alcohol 1 Introduction In Norway, retail sale of alcoholic beverages may only be undertaken by the State monopoly AS Vinmonopolet ("Vinmonopolet"). However, a private person in Norway may import alcoholic beverages without the assistance or involvernent of Vinmonopolet into Norway, if it is intended for private use. Such importation may take the form of the importer carrying the beverages over the border himself, or he may have the goods delivered by a transport company authorised to deliver alcohol into Norway. The transport company delivering the alcoholic beverages to the private importer can only provide the transport service; it cannot have any other involvement in the sale as such, and must be independent from the seller. The Authority understands that it is not necessary that the buyer himself contracts with the transport company. It is permissible for the buyer to enter into one single contract with the seller, for the sale and delivery of alcoholic beverages (and, thus, a seller abroad may offer alcoholic beverages with home delivery in Norway). But the seller must then outsource its deliveries into Norway to an independent transport company, whose advantage from such sales must be limited to normal remuneration for the transport service. The EFTA Surveillance Authority ("the Authority'') considers that this requirement of functional and structural separation between the undertaking selling the alcoholic beverages and the undertakings delivering the beverages violates the EEA rules on free movement of services and free movement of goods, as set out in Articles 36 atdlor 11 of the EEA Agreement, in so far as alcoholic beverages come under the product scope of the Agreement. -
Norges Bank Norway
Norges Bank Norway Active This profile is actively maintained Send feedback on this profile Created before Nov 2016 Last update: Mar 23 2021 About Norges Bank Norges Bank, established in 1816, is the central bank of Norway. The bank does not offer any banking services to the general public. Its mandate is to promote economic stability in Norway. Norges Bank has executive and advisory responsibilities in the area of monetary policy and is responsible for promoting robust and efficient payment systems and financial markets. Norges Bank, via its subsidiary Norges Bank Investment Management, manages Norway's foreign exchange reserves and the Government Pension Fund Global, also known as the Oil Fund, which was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. This is the largest sovereign wealth fund in the world. Website http://www.norges-bank.no Headquarters Bankplassen 2 0151 Oslo Norway CEO/chair Øystein Olsen Chairman Supervisor Annual report Annual report 2020 Ownership Norges Bank is owned by the Norwegian state. Complaints and grievances Sustainability Voluntary initiatives Norges Bank has committed itself to the following voluntary standards: Extractive Industries Transparency Initiative Principles for Responsible Investment (PRI) United Nations Global Compact Investment policies Norges Bank Investment Management's webpage on corporate social responsibility can be accessed here. Exclusion of companies Elco, Ashtrom Group, Electra and Oil & Natural Gas Corp. Exclusion due to unacceptable risk that -
Exporter Guide Norway
THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Voluntary - Public Date: 3/1/2018 GAIN Report Number: NL8008 Norway Post: The Hague Exporter Guide Report Categories: Beverages Dried Fruit Exporter Guide Fishery Products Raisins Retail Foods Snack Foods SP1 - Expand International Marketing Opportunities Special Certification - Organic/Kosher/Halal Tree Nuts Wine Approved By: Susan Phillips Prepared By: Marcel Pinckaers Report Highlights: This exporter guide provides practical tips for U.S. exporters on how to conduct business in Norway. Although a small market, Norway relies heavily on imports. There are export opportunities for U.S. exporters of specialty foods, wine, craft beer, seafood, tree nuts, food preparations and dried fruit. Especially well-known brands and products from the United States fare well in this affluent market. Introduction Norway is located in Northern Europe and is a part of the Scandinavian Peninsula. The majority of the country shares a border to the east with Sweden while its northernmost region is bordered by Finland to the south and Russia to the east. Norway's extensive coastline is facing the North Atlantic Ocean and the Barents Sea. Map of Northwest Europe With 324 thousand square kilometers, Norway belongs to the top ten largest countries in Europe. Norway is also one of the most sparsely populated countries in Europe and has a coastline ten times its length. Norway’s population is 5.2 million and the vast majority live in urban areas. Almost one million people live in its capital Oslo. -
On Institutions – Fundamentals of Confidence and Trust
ON INSTITUTIONs – FUNDAMENTALS of CONFIDENCE AND TRUST A COLLECTION of ARTICLES BASED ON PRESENTATIONS AT A SEMINAR ARRANGED BY NoRGES BANK AND THE NoRWEGIAN ACADEMY of SCIENCE AND LETTERS ON 12 NoVEMBER 2013 NoRGES BANKS SKRIFTSERIE OCCASIONAL PAPERS NO. 47 Norges Banks skriftserie / Occasional Papers can be ordered by e-mail: [email protected] or from Norges Bank, Subscription Service P.O.Box 1179 Sentrum N-0107 Oslo ©Norges Bank 2013 The text may be quoted or referred to, provided that due acknowledgement is given to the authors and Norges Bank. Views and conclusions expressed in this paper are the responsibility of the authors alone. Previously issued in this series: (Prior to 2002 this series also included doctoral dissertations written by staff members of Norges Bank. These works are now published in a separate series: ”Doctoral Dissertations in Economics”.) Nr. 1 Leif Eide: Det norske penge- og kredittsystem, Oslo 1973, No. 25 Ingunn M. Lønning: Controlling Inflation by use of the utgått, erstattet med nr. 23 Interest Rate: The Critical Roles of Fiscal Policy and No. 1 Leif Eide: The Norwegian Monetary and Credit System, Government Debt, Oslo 1997 (Doct.d.) Oslo 1973, replaced by No. 23/24 No. 26 ØMU og pengepolitikken i Norden, Oslo 1998 Nr. 2 En vurdering av renteutviklingen og rentestruk turen i No. 27 Tom Bernhardsen: Interest Rate Differentials, Capital Norge, Oslo 1974 Mobility and Devaluation Expectations: Evidence from No. 3 Arne Jon Isachsen: The Demand for Money in Norway, European Countries, Oslo 1998 (Doct.d.) Oslo 1976 No. 28 Sentralbanken i forandringens tegn. -
Innhold • Karl Johan • Nei, TUBFRIM Er Ikke Nedlagt • 3
KILDENTidsskrift for Oslo Guideforening sommernummer 2011 Foto: Wenche M. Wangen Foto: Wenche • • Området rundt Solli plass Innhold • Karl Johan • Nei, TUBFRIM er ikke nedlagt • 3. juni 2011 - Brann og redning 150 år. • Tøyengata – et nyrikt stykke Norge • Kvinnedag, Rogstad og Bonnevie i jubileumsåret 2011 • Skjulte Grosch-skatter i Storgata • Østensjøvannet • Intervju med ordføreren • Alnaelva, en av Oslos viktigste, men ”glemte” elver. • Uret ved Universitetsplassen • Guidefi losofi – et hjertesukk • Statuene på Universitetsplassen • Ekeberg – Oslos viktigste fjell • Akershus slott og festning • Hvordan Frammuseet ble til og Framkomitéens rolle. • Norrøn mytologi – Skiguden Ull • Statsbesøk på Fram. • Munch på Tøyen – en sjokkerende beretning • Kirkerovet i Mariakirken i Oslo høsten 1529 • Munch i Universitetets Aula. • Eksplosjonsulykken i Kings Bay-gruven på Svalbard • Navnet er Operatunnelen • Politiske ettervirkninger av Kings Bay-ulykken 1 1 STYRET I OSLO GUIDEFORENING INNHOLDSFORTEGNELSE Styret i Oslo Guideforening Marie B. Berg Arild Eugen Johansen Kirsten Elmar Mikkelsen Norges Guideforbunds landsmøte/årsmøte 2011 ..........................................................................................................................................................................5 2010/11: (nestleder) (styremedlem) (varamedlem) Tøyengata – et nyrikt stykke Norge av Tone Huse. Wenche M. Wangen .....................................................................................................................................6 -
General Information About Vinmonopolet in Norway
GENERAL INFORMATION ABOUT VINMONOPOLET IN NORWAY Vinmonopolet is a monopoly situation in charge of the retail distribution of wine, spirits and strong beer in Norway. The products Vinmonopolet distribute are purchased from licensed suppliers which are called Grossister. LaMarc Wines holds a required license and agreements to act as a supplier to the monopoly. The organization have about 300 stores in Norway, in four different size categories. The population of Norway is approximately 5,2 million people. Vinmonopolet has approximately 18 000 products in its product range at this stage, and every year they purchase about 300 new products. Most of the products are purchased via the normal tender procedure, where Vinmonopolet announce a tender request and different products submitted will be judged on quality in relation to price in a blind tasting session. The volumes required for a product varies a lot, depending on the price, distribution and idea with a listing. Overall Vinmonpolet purchases more products and smaller volumes than what Systembolaget (Swedish monopoly) usually purchases. The Norwegian retail alcohol monopoly is as the other Scandinavian monopolies very pro organic products, and this we believe will be a trend that we will see more of within the next 5 years period. INFORMATION ABOUT VINMONPOLET AND THE TENDER SYSTEM As the monopoly tendering system is pretty complicated and difficult to understand, we´ve tried to summarize the process. For us it is very important that the producers we represent understand the procedure and by doing so participate with us in an ongoing, proactive work. Many producers today misunderstand the procedure due to unclear information from Scandinavian partners and we really want to avoid this. -
Digital Leaders in Norway 2019
Digital Leaders in Norway 2019 This study evaluates 78 leading Norwegian companies’ digital maturity across six dimensions: digital marketing, digital product experience, e-commerce, e-CRM, mobile and social media. It also includes a separate evaluation of 11 public organizations. www.bearingpoint.no digitalleaders.bearingpoint.com/norway Table of contents Editorial 3 Norwegian companies need Objectives and study sample 4 Research summary 6 to improve to keep up with Key findings 8 their European peers. We Digital Leaders at a glance 10 encourage them to take Dimensions of digitalization Digital marketing 14 a strategic approach to Digital product experience 16 digitalization, focus on the E-commerce 18 E-CRM 20 customer journeys and start Mobile 22 Social media 24 turning data into value. Industries Summary 28 Telecom 30 Retail 31 Food retail 32 Passenger transportation 33 Media 34 Insurance 35 TV & broadband 36 Bank 37 Energy 38 Consumer products (food) 39 Public sector Digital Leaders in Norway 2019 Purpose and selection criteria for the public sector 42 Summary of findings 44 Key findings 46 Dimensions of digitalization Digital presence 50 Digital experience 52 e-CRM 54 Mobile availability 56 Social media 58 Digital Leaders in Europe Summary 62 Top 10 European companies 64 European Digital Leaders by 66 digital dimension Summary What Norwegian companies could learn 72 from global forerunners Appendices All rankings 78 BearingPoint on digitalization 84 Authors 85 Editorial Digital leaders are customer-centric, focused on providing excellent customer journeys. They manage to turn data into value, and they have a digital leadership that ensures the right priorities, capabilities and momentum. -
The Petroleum Fund Mechanism and Norges Bank's Foreign Exchange Purchases for the GPFG
No. 14 | 2012 Economic commentaries Market Operations and Analysis The petroleum fund mechanism and Norges Bank’s foreign exchange purchases for the GPFG Ellen Aamodt* *The views expressed in this article are the views of the author and do not necessarily reflect the views of Norges Bank The petroleum fund mechanism and Norges Bank's foreign exchange purchases for the GPFG Ellen Aamodt, Market Operations and Analysis, Norges Bank Markets and Banking Services. The Norwegian government receives substantial revenues from the petroleum sector. These revenues are in both foreign currency and Norwegian kroner. Some of the oil revenues are absorbed in the Norwegian economy by being used to finance the nonoil budget deficit. The remainder is transferred to the Government Pension Fund Global (GPFG). Because the GPFG is invested in its entirety in foreign currency, the government's NOK revenues for the GPFG must be exchanged for foreign currency. Norges Bank performs the task of purchasing foreign exchange for the GPFG for the Ministry of Finance. This commentary describes how the government's revenues from the petroleum sector are channelled to the GPFG, how portions of these revenues are phased into the Norwegian economy and how Norges Bank calculates the foreign exchange purchases for the GPFG. The commentary also shows the relationship between the petroleum fund mechanism and the NOK exchange rate, and the level of reserves in the Norwegian banking system. What is the petroleum fund mechanism? The Government Pension Fund Global (GPFG) was established in 1990, then under the name “Government Petroleum Fund”. The first transfer to the fund took place in 1996, and as at February 2012, the fund had increased in size to over NOK 3.4 trillion. -
Act on the Sale of Alcoholic Beverages, Etc. (Alcohol Act)
Unofficial version 01.09.2020 Act on the Sale of Alcoholic Beverages, etc. (Alcohol Act) Date ACT-1989-06-02-27 Ministry Royal Ministry of Health and Care Services Last amended ACT-2020-06-23-111 from 01.09.2020 Published ISBN 82-504-1491-8 Entry into force 01.01.1990 Legal area Commercial law ► Import and export Commercial law ► Food and alcohol Short title Alcohol Act – alkhl Table of Contents Act on the Sale of Alcoholic Beverages, etc. (Alcohol Act) ............................................................................... 1 Table of Contents ............................................................................................................................................. 1 Chapter 1. General provisions. ....................................................................................................................... 2 Chapter 2. Import and export ....................................................................................................................... 12 Chapter 3. Sale of alcoholic beverages. ........................................................................................................ 13 1 I. General provisions ................................................................................................................................ 13 1 II. Sale of alcoholic beverages in categories 2 and 3. ............................................................................. 15 1 III. Sale of alcoholic beverages in category 1. ....................................................................................... -
The Krone and the Interest Rate
The krone and the interest rate By Central Bank Governor Svein Gjedrem, Norges Bank, Dagens Næringsliv, 6 July 2001. On March 29, the Government approved a new operational target for monetary policy. Norges Bank shall set the key rate with a view to maintaining low and stable inflation. The inflation target is set at 21/2 per cent. We no longer have a specific exchange rate target for the Norwegian krone. The krone is floating. Nevertheless, developments in the krone exchange rate are still very important when Norges Bank sets the interest rate. This is due to a number of factors: Changes in the krone exchange rate affect prices measured in NOK for imported consumer goods and services. Bearing in mind that imported goods are used in Norwegian production, the rise in prices for imported goods and services combined determine nearly 40 per cent of consumer price inflation. Developments in the krone have an impact on earnings in companies in the internationally exposed sector, which have also traditionally been wage leaders. Changes in the exchange rate affect the competitiveness of Norwegian business and industry as well as demand at home and abroad. Thus, the activity level in the economy is affected. As the Norwegian and international money and capital markets become more integrated, changes in the exchange rate will be increasingly important. Changes in the exchange rate generate wealth gains and losses for Norwegian households and enterprises. The value of the Norwegian krone will vary, as exchange rates do in most countries. There are many reasons for fluctuations in the exchange rate.