Increased imports and exports in Norway

In October, the Norwegian trade surplus came to NOK 26.7 billion; a rise of 1.9 per cent from the same period last year.

The export growth was mainly due to higher prices of both crude oil and natural gas. Several commodity groups accounted for the increase in imports.

Exports of goods, excluding ships and oil platforms, came to NOK 70.7 billion in October, while imports reached NOK 44.0 billion. Compared to October 2010, the import and export rose by 7.7 and 5.5 per cent respectively.

The total export volume of crude oil in October; 37.2 million barrels, was the lowest recorded this year. The export value amounted to NOK 23.5 billion, up 6 per cent from October last year, due to higher prices. At the same time, the export value fell 12 per cent from September to October this year.

The export value of natural gas in October came to NOK 17.8 billion; 9 per cent higher than last year, due to rising prices. The exported volume, on the other hand, fell slightly.

The commodity group including machinery and transport equipment, which are our main import articles, showed an increase of 16 per cent in total, amounting to NOK 16.0 billion. While all types of machinery rose, the imports of telecommunications apparatus and equipment fell by 6 per cent, to NOK 1.6 billion. Passenger cars also showed an upturn of 18 per cent, reaching NOK 2.9 billion.

The import value of manufactured goods and miscellaneous manufactured articles accounted for NOK 6.9 billion and NOK 7.2 billion respectively – up 12 and 7 per cent. Amongst manufactured goods, metals and manufactures of metals showed the sharpest growth, while clothing and professional, scientific controlling instruments took the lead among the manufactured articles.

While food and beverages rose, the imports of inedible crude materials and mineral fuels dropped.

2011-11-16

norwaypost.no

España y Noruega colaboran en el campo de las nuevas tecnologías medioambientales

A través del mecanismo financiero del Espacio Económico Europeo (EEE), España y Noruega van a colaborar en investigación y desarrollo en el campo de las energías renovables. Se dará especial relevancia a la energía hidraúlica, solar, eólica y marina.

El ministro de Asuntos Exteriores Jonas Gahr Støre explica que: “Los fondos del EEE contribuirán a reforzar la colaboración entre Noruega y los países receptores. Facilitamos ese refuerzo mediante este programa de energías renovables, entre otros. España y Noruega hacen buena pareja en el campo de las tecnologías medioambientales”.

Se refiere a que España está entre los mayores y más avanzados productores de nuevas energías renovables.

En total, España recibirá unos 360 millones de coronas noruegas (aproximadamente 46 millones de euros) de los fondos del EEE hasta el 2014. De ellos, unos 140 millones de coronas serán destinados al desarrollo de nuevas tecnologías medioambientales. Innovation Norway contribuirá a sentar las bases de una intensificación de la colaboración entre el tejido empresarial español y noruego y sus centros de investigación junto al Centro para el Desarrollo Tecnológico e Industrial (CDTI) quien gestiona el programa por parte española.

El acuerdo se firmó hoy en Madrid. La igualdad de género es también un área prioritaria en España. El representante de Noruega será el Defensor de la Igualdad de género y la integración. Este programa contribuirá, entre otras cosas, a fomentar la iniciativa empresarial entre las mujeres, la paridad en los consejos de administración, la integración de las mujeres rom e inmigrantes, y a combatir la violencia contra las mujeres. A este proyecto se han destinado cerca de 90 millones de coronas noruegas.

Además de los fondos destinados a energías renovables e igualdad, se han asignado unos 30 millones de coronas noruegas a un programa de becas para estudiantes e investigadores, 35 millones a un fondo para ONGs y 35 millones para proyectos culturales comunes.

Los fondos del EEE son la contribución de Noruega a la reducción de las diferencias sociales y económicas en Europa. Este apoyo debe también servir para reforzar la colaboración entre Noruega y los países receptores. El mecanismo financiero del EEE tendrá unos fondos de 14.000 millones de coronas noruegas (unos 1795 millones de euros) hasta el 2014. De ellos, Noruega aporta un 97%, mientras que Islandia y Liechtenstein asumen el resto.

Source: Real Embajada de Noruega en España

http://www.noruega.es/News_and_events/Mecanismos-de-financiacion-EEE/Espana-y-Noruega-colaboran-en-el-campo-de-las-nuevas-tecnologias-medioambientales/

Economic experts warn of hard times ahead

Finnish economic experts are split into two camps in their predictions on economic trends in the near future. Sixten Korkman, managing director of the Research Institute of the Finnish Economy (ETLA) and Pasi Holm, the head of Pellervo Economic Research predict that the economy will experience negative growth.

Meanwhile, Seija Ilmakunnas, head of the Labour Institute for Economic Research, and Juhana Vartiainen, head of research at Sweden’s National Institute of Economic Research, expect slight economic growth in 2012.

     

The European Commission expects Finland to reach 1.4 per cent growth, whereas the average growth for all countries in the eurozone is forecast at 0.5 per cent. The forecast is based on information that was available before the crises in Greece Italy flared up.

Some experts actually expect the spring to bring new life to the economy, but the growth will be significantly weaker than the Finnish government had previously assumed.

     

The first signs of crisis consciousness are already apparent. The economic journal Talouselämä wrote on Thursday that the Ministry of Finance has urged other ministries to prepare for further cuts in the upcoming framework talks.

“We are currently drawing up various contingency plans, because nobody knows what the economy will look like a month from now”, said Minister of Finance Jutta Urpilainen (SDP).

The framework for state finances for 2013-2015 will be set in March.

     

Prime Minister Jyrki Katainen (Nat. Coalition Party), Finance Minister Urpilainen, and all economic experts interviewed by Helsingin Sanomat agree that the government should not take fright and should not start scaring Finns with upcoming cost cutting measures.

The top ministers in the government insist that heads are cool. No further cost cuts are coming until the late winter.

Urpilainen says that the framework talks in March will be the right time and place to assess whether or not additional measures are needed.

     

Korkman and the other economic experts expect the government to take action in the spring to institute extensive structural changes.

“Working careers need to be extended and the retirement age must be raised for the employment level to rise and for the tax base to grow stronger”, Korkman says.

Vartiainen agrees, adding that Finland needs to recruit more labour from abroad.

     

Pasi Holm sees a need for extensive changes in the government’s policy programme. “The programme is based on an assumption of 2.5 to 3 per cent annual growth, which is not going to happen.”

Seija Ilmakunnas wants to see the framework agreement for the labour market to be put into shape. “After that we need to implement the municipal and service structure reforms. They will bring savings.”

     

Katainen and Urpilainen also emphasise the importance of the municipal reform.

The government programme includes a statement according to which state indebtedness needs to be reduced by 2015.

The way things look now Korkman does not expect this to happen because the economy will be shrinking and unemployment might rise.

     

Sixten Korkman is also worried about a “self-detonating trap” that he says lies hidden in the government programme.

The government has promised to cut spending and raise taxes if the debt does not go down.

“Therefore, the government must deepen the recession by tightening financial policy”, Korkman laments. 

HELSINGIN SANOMAT

INTERNATIONAL EDITION - BUSINESS & FINANCE

http://www.hs.fi/english/article/Economic+experts+warn+of+hard+times+ahead/1135269845729

Forecast for Spanish economy - The Economist

Spain

• Debt will be 68% of GDP by the end-2011.
Deficit falling from 11.1% in 2009 to 9.3% in 2010 and 6.5-7% in 2011.

• It should be held to 75% of GDP by 2016
But still danger of cycle of recession leading to falling revenue and wider deficits.

• But measures have been serious and sufficient political consensus.

© 2011 The Economist Intelligence Unit. All Rights Reserved.

Nokia echa a 3.500 empleados y se disparan sus acciones

Ajustó su plan de reestructuración y el valor de sus acciones se dispararon. El líder mundial de los teléfonos móviles, el finlandés Nokia, anunció hoy que prevé suprimir 3.500 empleos en Estados Unidos, Alemania y Rumanía de aquí a finales de 2012.

"Nokia prevé cerrar sus actividades en Cluj, en Rumanía, a fines de 2011 (...) y cerrar (implantaciones y actividades comerciales) en Bonn, en Alemania, u en Malvern, en Estados Unidos", antes de fines de 2012, anunció el grupo en un comunicado.

Estas nuevas reducciones se suman a los 4.000 despidos y 3.000 supresiones más de carácter externo –que fueron reemplazados por subcontratados- anunciadas en abril pasado en el marco de un amplio programa de restructuración.

"Debemos tomar medidas dolorosas, pero necesarias, para ajustar nuestros efectivos y nuestras actividades", subrayó el director general de la empresa, Stephen Elop, citado en el comunicado.

La nueva estrategia de Nokia tiene como objetivo detener la caída de su cuota de mercado en beneficio de competidores como Blackberry (RIM), iPhone (Apple) y otros celulares que utilizan el sistema operativo Android de Google.

Hasta hace no mucho tiempo, Nokia era el indiscutido líder mundial de los teléfonos móviles, pero ha perdido mucho terreno y hoy solo mantiene un 23 por ciento de cuota de mercado en el segundo trimestre de 2011, según los analistas. Cuando se tiene en cuenta que llegó a tener hasta un 40% en el primer semestre de 2008, la cifra preocupa, en especial a los accionistas e inversores que tomaron muy bien los despidos de hoy. Y aún más el hecho de que Nokia contemple anunciar nuevas limpiezas en 2012.

Las acciones que cotizan en la Bolsa de Nueva York subían el 3,42 por ciento tras el anuncio del cierre de la fábrica en Rumanía y los despidos con los que pretende recortar costos y mejorar su rentabilidad.

Fuente: iEco www.clarin.com

Navantia entrega a Noruega su quinta fragata

La Marina Noruega recibe la quinta y última de las cinco fragatas que se han construido en El Ferrol, KNM Thor Heyerdahl. Diez años de colaboración que han supuesto un salto cualitativo en la colaboración tecnológica e industrial de Noruega y España. Este acercamiento de las marinas de los respectivos países se manifiesta también en la condecoración concedida al Vicealmirante Sanjurjo Jul.

Este proyecto ha sido un importante eslabón en las relaciones entre ambos países desde su inicio en el año 2000.
El acuerdo comercial vinculado a este proyecto ha involucrado a unas cien empresas españolas y doscientas cincuenta noruegas.
La asociación que muchos hacían de España y "playa" se ha visto matizada por la de un país proveedor de alta tecnología.
Toma el relevo un proyecto de colaboración entorno a comunicaciones por satélite.

Offshore Marine 2011

In acknowledgement of the pivotal role offshore shipping plays in both the Norwegian and the global maritime industry, TradeWinds and Nor-Shipping have together established the Offshore Program, comprising two distinct events, TradeWinds Offshore Marine at the Grand Hotel on May 24th and Agenda Offshore 2011, hosted by Nor-Shipping at Lillestrøm on May 25th.

TradeWinds Offshore Marine will focus on four key areas: the global outlook, balanced broking, technology / innovation and the case for investment. With less than four months to go, we are allowing for the possibility that the programme will develop and may be fine tuned to reflect current issues

The Global Perspective

Norwegian offshore has attracted its share of global investors for good reason as the nation’s players have risen from modest beginnings to become world leaders in the sector. Many Norwegians point to innovation as the key, while others say speculative ordering has been the largest factor behind Norway’s success. But what do the international players think? Is Norwegian know how providing the gateway to deepwater riches? But is Norway exporting its offshore advantage to tomorrow’s sector leaders? While the flipside of innovation is huge prices on assets, the flipside of speculation is over-ordering ---- so do the benefits outweigh the damage? A high-level panel of well-known international business leaders, all with various ties to the Norwegian offshore arena, will bring their global perspectives to the sector. A series of short introductions will be followed by an open discussion.

Offshore Marine broker’s panel discussion

Can the present market sustain the idea of a balanced broker bringing a good deal for both charterer and shipowner?

Technology and innovation

Design, building and operating the next generation of PSV’s, AHTS and Subsea
What do charterers want?
How to meet charterers needs before they know.
Getting ideas from the deck to the boardroom and then into new designs.
Innovation and the technology drain
Operating in ice – could Deepwater Horizon play out in the Arctic?
Offshore Marine as an investment

Exploring the right business model for PSV operators
Achieving the right fleet and balance sheet
Shareholder shudders – coining capital for white elephants?
Post 2008 recalculation of risk, is there any financing for smaller, private investments?