Bank of Norway - Factbites

Bank of Norway - Factbites
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Topic: Bank of Norway

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	Forbes.com: DIARY - Day ahead in the FX and debt markets
		Speakers include Riksbank Governor Lars Heikensten and Gunnar Lund, finance minister in charge of European issues.
		European Central Bank Vice-President Lucas Papademos (0815), Bank of Finland Governor Matti Vanhala, Austrian National Bank Governor Klaus Liebscher and Turkish Central Bank representatives (to Nov 13).
		N/A - NORWAY CENTRAL BANK GOVERNOR, Trondheim Norway Norwegian central bank governor Svein Gjedrem speaks at trade association.
	www.forbes.com /markets/newswire/2003/11/12/rtr1144439.html (731 words)

	Norway -- The 2002 Index of Economic Freedom, The Heritage Foundation
		Norway's fiscal burden of government score is 0.5 point better this year, and its wages and prices score is 1 point better.
		Without exemption from the government, no single investor or group of investors may own more than 10 percent of a Norwegian insurance company, commercial bank, or savings bank.
		Under the liberalized regime, branches of U.S. and other foreign financial institutions are granted the same treatment as nationals in Norway." However, "any investorforeign or domesticmust obtain permission/concession from the Norwegian government to acquire more than 10 percent of the equity in any Norwegian financial institution." The government favors
	cf.heritage.org /index/country.cfm?ID=110.0 (895 words)

	Business in MaineToday.com Maine Stock Trends
		Norway Savings is a mutual savings bank, headquartered in Norway, Maine, so there will be no stock in the hands of the public once the deal is completed.
		Norway intends to retain the Coastal Bank name, for the time being, on all of First Coastal's branches.
		The Maine bank managed to persevere, eventually convincing regulators that it could raise the capital necessary to survive on its own, something that was pretty much unheard of among seized banks.
	business.mainetoday.com /news/stocktrends/010409.shtml (895 words)

	DnBNOR.com - About the Group/Board of Directors
		She is a former board member in Union Bank of Norway and Gjensidige NOR and has previously held positions within the retail market.
		Hytta was employed in Fellesbanken in 1968 and has since held a number of positions within the Group, including deputy president in Gjensidige NOR and Union Bank of Norway, managing director of the Oslo/Akershus region in Union Bank of Norway and general manager and operations director in ABC Bank.
		Sund headed the development of the Winter Olympics site at Lillehammer, the development of Norway’s main airport at Gardermoen and the Telenor project at Fornebu.
	www.dnbnor.com /en?p=26403 (1078 words)

	Norway's economic outlook is bright
		Norwegian central bank governor Svein Gjedrem has said Norway will not be "the frontrunner" in raising rates, leaving some doubt in financial markets about whether he means just the U.S. Federal Reserve or also the ECB.
		"I base my assumptions on remarks by the central bank governor that Norway will at least not be in the front when it comes to hiking interest rates in future," Foss said.
		Norway's oil-dependent economy will make a strong recovery in 2004-05 but the central bank will not hike interest rates before the European Central Bank (ECB), Finance Minister Per-Kristian Foss said on Wednesday.
	www.aftenposten.no /english/business/article810968.ece?service=print (258 words)

	Reference.com/Encyclopedia/Bankia bank
		The first bank in Norway to offer no-fee basic consumer banking products, was Skandiabanken AB which introduced its Internet banking solution in April 2000.
		Bankia Bank was established in Oslo, Norway in 2001.
		Bankia offers a self-serve service similar to ING Direct of the Netherlands, where clients do not have access to regular banking services, but are offered a few niche consumer products at very competitive prices.
	www.reference.com /browse/wiki/Bankia_bank (180 words)

	Water temperature and currents in Lake Sperillen, Norway
		The velocities shows a short-circuting of the lake with a current close to the water surface following the right bank, except behind the island on the right bank in the middle of the lake.
		This was caused by the Coriolis force and the temperature stratification of the lake.
		The main findings of the field investigations were the exstence of the current short-circuting the lake.
	www.ntnu.no /~nilsol/cases/sperill (360 words)

	Encyclopedia: Norwegian coins
		Norwegian coins are in 2003 circulated, in addition to Norwegian banknotes, as the standard unit of currency in Norway, the Norwegian krone.
		25 re For detailed information (Bank of Norway): http://www.norgesbank.no/english/notes_and_coins/coins.html
	www.nationmaster.com /encyclopedia/Norwegian-coins (360 words)

	GE Capital Bank
		The brand is used as the name of six banking divisions and subsidiaries in France, Hong Kong, Norway, Poland, Sweden, and Switzerland.
		It is the second bank in Norway to offer US style credit cards, after Bankia Bank ASA.
		GE Capital Bank is a brand of GE Consumer Finance, part of the General Electric Company.
	www.worldhistory.com /wiki/G/GE-Capital-Bank.htm (234 words)

	Norway, ME News
		Governor Baldacci praised Norway Savings Bank today as they signed a participation agreement with the Finance Authority of Maine to begin offering a unique student loan through the Maine Higher Education Loan...
		Local news for Norway, ME continually updated from thousands of sources on the web.
		Sulpice on the Left Bank of the Seine is a regal 17th Century church, but has never been much of a tourist draw.
	www.topix.net /city/norway-me (234 words)

	FDIC: Decisions on Bank Applications - Norway Savings Bank
		Provided Norway meets the foregoing conditions and that there has been no significant alteration to the terms of the conversion transaction (by action of other regulators or otherwise) subsequent to the date of this letter, the FDIC will issue a letter of non-objection to the proposed conversion transaction.
		That Norway provides written evidence that the Plan of Conversion was approved by the affirmative vote of a majority of votes eligible to be cast by its depositors,
		The purpose of the constructive transfers to the interim banks is to more closely parallel Chapter 105, Section 1053 of the Maine Banking Statute, which specifically provides for the chartering of subsidiary savings institutions and the transfer of assets and liabilities.
	www.fdic.gov /regulations/laws/bankdecisions/Mutual/norway.html (234 words)

	Norway Paddling Guide
		Norway is an expensive country, but by spending carefully and avoiding alcohol it's possible to avoid a complete meltdown of the finances.
		Immediately after this drop, find an eddy on the left hand bank, and eddy hop down until the eddies run out, as the next section is portaged on the left to avoid an evil looking waterfall.
		This can all be viewed and walked round if required on the left bank.
	www.s106156335.websitehome.co.uk /norwaycambridge.htm (234 words)

	Norway Provides Grant For ADB Projects - ADB.org
		Norway is a founding member of the ADB and has provided significant contributions to the Asian Development Fund, which provides loans to the Bank's developing member countries at concessional rates, and other trust funds for various development projects.
		The Asian Development Bank and the Government of Norway have recently signed a cooperation agreement to finance mutually agreed technical assistance projects on an untied grant basis.
		Signing the agreement were ADB President Tadao Chino and the Honorable Leif Lunde, Norway's State Secretary for International Development and Human Rights, Ministry of Foreign Affairs, who is the ADB Governor for Norway.
	www.adb.org /Documents/News/1999/nr1999046.asp (229 words)

	Norwaves Volume 3, Number 3, 1995
		THE ROYAL MINISTRY OF FOREIGN AFFAIRS, Oslo Press Division NORWAY DAILY No. 6-10/95 OeW/KJ DATE: 9 January 1995 SETTLEMENT IN REKSTEN CASE (NTB-Friday) A settlement has been reached between Hambros Bank and the Norwegian state in connection with the Reksten affair, and the government will now terminate its hunt for concealed Reksten assets outside Norway.
		He is also critical of the programmes for improving the economic policies of third-world countries backed by the World Bank and the International Monetary Fund.
		The settlement, formally entered into between Hambros Bank and the Norwegian Guarantee Institute for Ships and Drilling Vessels AS (GI), gives the state NOK 300 million.
	www.norwaves.com /norwaves/Volume3_1995/v3nw03.html (3514 words)

	Encyclopedia: GE Capital Bank AB
		They are the second bank in Norway to offer US style credit cards, GE MasterCard, after Bankia Bank ASA.
		It is a leading provider consumer finance products in Norway with more than 300,000 clients and lending of NOK 5 billion, only second to the major domestic bank DnBNOR.
		GE Capital Bank is part of General Electric, based in Stockholm, Sweden.
	www.nationmaster.com /encyclopedia/GE-Capital-Bank-AB (3514 words)

	Santander "buy" newratings.com
		In a research note published this morning, the analysts mention that the company has entered into an agreement to acquire a 100% stake in Bankia Bank, a Norway-based bank focusing on private banking, for approximately 52.7 million.
		The acquisition would strengthen Santander's consumer banking segment in Norway, the analysts say.
	www.newratings.com /new2/beta/article_732850.html (210 words)

	Norway News - Media Monitoring Service by EIN News
		Norway to establish global agricultural seed bank on remote Arctic island
		Norway to build seed bank for key global crops
		Norway hails Sri Lanka, Tamil Tigers pact on tsunami aid.:-
	www.einnews.com /norway (210 words)

	Ships
		"...the City of New York was a stoutly built ex-whaling vessel that had been finished by K. Larsen of Arendal, Norway, in 1885.
		Bought by the City of Oakland in 1928, she was re-christened Bear of Oakland." [Source: State Street Bank] The ship's figurehead is in the office of the Chairman of Boston's State Street Bank.
		Also, she was used to maintain order at Nome at the time of the gold rush in 1899-1900.
	www.antarctic-circle.org /ships.htm (210 words)

	THE CLAIRE FOSS JOURNAL
		China's enormous infrastructure investment has been made possible by what Chinese economists call an "expansive monetary policy": In recent years the People's Bank of China�China's central bank�has been expanding the effective supply of money and reserves of credit (the monetary aggregate known to economists as "M2"), by about 15% per year.
		Infrastructure construction�including transport, energy, water systems, communications, etc.�is laying the foundation for the rapid, sustained expansion of China's economy as a whole, while at the same time stimulating employment and production in industrial sectors supplying the projects themselves, and opening up previously backward regions and resource-rich areas for development.
		The answer, again, is essentially simple: By channeling a large part of the monetary expansion into credits to the productive sector, including agriculture and industry as well as infrastructure, the Chinese government insures that the supply of useful goods and services, produced by the economy, has continued to expand even faster than the effective demand.
	www.cfoss.com /china.html (210 words)

	Bloomberg.com: Europe
		Norway, the world's third-largest oil exporter, has since 1996 put part of its oil revenue into a fund that the central bank invests abroad to avoid stoking the domestic economy.
		When Bondevik took office in after the last election in 2001, the mainland economy, which excludes output from crude oil production and shipping, expanded at an annual rate of 1.1 percent and the central bank's benchmark rate was 7 percent.
		Norway's public spending has increased by 29 percent to 652 billion kroner ($102 billion) a year since the government took power four years ago, according to budget data.
	www.bloomberg.com /apps/news?pid=10000085&sid=aUX_oTtO4jRQ&refer=europe (210 words)

	Sweden Bank Notes
		After conquering Finland late in the 13th century, Sweden, together with Norway, came under the rule of Denmark 1397-1523, in an association known as the Union of Kalmar.
		Sweden, located in northern Europe between Norway and Finland, was found in the 10th century as a Christian stronghold.
		Regained independence in 1523, and became one of the great powers of Europe in the 17th century.
	www.tomchao.com /eu/eu62.html (100 words)

	1905: Norge, Sverige & unionen
		Project 1905 is funded by and collaborates with the company set up to mark Norway's centennial anniversary Hundreårsmarkeringen Norge 2005 as and the jubilee fund of the National Bank of Sweden Riksbankens Jubileumsfond.
		The 1905 website was the brainchild of Project 1905 and has been set up through close collaboration with the National Library of Norway, the National Archives of Sweden and Norway, the Royal Library in Stockholm and many others.
		Project 1905 is supported by Norge 2005 as and the Jubilee Fund of the National Bank of Sweden.
	www.nb.no /baser/1905/om_e.html (100 words)

	MONEY FILE$: GATA ARMY PLAN HISTORICAL BATTLE
		He was elected in an effort to restore credibility and integrity to the position of Bank Governor.
		DW Dr. Klaus Liebscher Governor of the Oesterreichische Nationalbank
		The problem with Japan is that Central Bank Governor Masaru Hayami is what the Wall Street Journal some years ago described as ‘a devout Christian – rare in a nation predominantly Buddhist.
	www.moneyfiles.org /gold5.html (4153 words)

	HyperWar: The Campaign in Norway [Chapter III]
		The safety of Trondheim depended on the two forts, Brettingen and Hysnes, which command the entrance to the fjord on the north bank near Agdenes, some thirty miles northwest of the town: a third fort existed on the south bank, the manning of which was still under active discussion when the Germans arrived.
		The change of plan did not lead to success; the Germans, preparing to enter the fjords of West and South Norway, were favoured by the poor visibility and all made their destinations, though the expedition bound for Bergen escaped our cruisers by a narrow margin.
		Stavanger was in any case unfortified; more remarkable was the taking by surprise of the defended west coast ports, Bergen and Trondheim.
	www.ibiblio.org /hyperwar/UN/UK/UK-NWE-Norway/UK-NWE-Norway-3.html (6888 words)

	Norway oil fund near trillion crown mark
		Norway's petroleum fund, a government controlled fund investing wealth for future generations, grew by 4.8 percent in the third quarter to NOK 988.1 billion crowns (USD 157.7 billion), the central bank said on Tuesday.
		The Government Petroleum Fund, invested in foreign stocks and bonds to save money for when Norway's oil and gas resources run out, grew from NOK 942.4 billion at the end of the second quarter.
		The return on the fund was 1.4 percent in the third quarter, or 0.02 percent below the reference portfolio, the central bank said.The return on bonds was 3.1 percent and on stocks a negative 1.0 percent, it said.
	www.aftenposten.no /english/business/article917808.ece?service=print (178 words)

	Nortrade - News - Petroleum fund shows strong growth
		Norway's national petroleum fund had a 7.7 percent return on investment in the second quarter of 2003, its best performance since 1999, the central bank announced Tuesday.
		The state central Bank of Norway, which manages the fund for the government, said the improved return was due to improved market conditions.
		The value of the fund at the end of the April through June quarter was NOK 775.5 billion (USD 102 billion), including NOK 23.1 billion in surplus revenues transferred by the government.
	www.nortrade.com /news/ShowNews.aspx?id=2545&sectorid=0 (203 words)

	Odin Archive - Norway Daily No. 49/01
		In a report to the Storting the Government has proposed that the Church of Norway shall accept the appointment of homosexuals to ordained positions within the church, and the Workers’ Protection Act be changed to ensure that this right is secured.
		At the end of the year the Government Petroleum Fund had shares in almost 1,800 companies in over 20 countries, and government bonds and bank deposits in as many countries.
		Svein Gjedrem, Governor of the Norwegian Central Bank, is finding it extremely difficult to manage the Government Petroleum Fund’s investments according to a higher moral standard than that which is expressed in the individual countries’ national legislation.
	odin.dep.no /odin/engelsk/nytt/nyheter/032001-990436/index-dok000-n-f-a.html (1770 words)

	MyWestTexas.com - Oil & Gas - 03/07/2004 - Norway's national oil fund posts record profit for 2003
		Norway's national petroleum fund posted a 12.6 percent return on investment during 2003, for its highest profit since investments began in 1996, the central bank announced Wednesday.
		The state Bank of Norway said the return, measured in a basket of international currencies, was boosted by a 22.8 percent gain in its stock portfolio.
		Generally, 30-50 percent of the fund is invested in equities, while the remainder is in government-backed bonds.
	www.mywesttexas.com /site/news.cfm?newsid=11084348&BRD=2288&PAG=461&dept_id=474107&rfi=6 (275 words)

	National Oil Fund Posts 3.8 Pct. Return - Forbes.com
		Norway's national petroleum fund returned 3.8 percent on investment in the second quarter, compared to a decline of 0.2 percent a year earlier, the central bank announced Tuesday.
		The Government Petroleum Fund, measured in a basket of international currencies, grew to 1.184 trillion kroner (US$181.6 billion; euro148.48 billion), an increase of 94 billion kroner (US$14.57 billion; euro11.91 billion) in the April through June period, the Bank of Norway said.
		The fund is invested abroad to avoid overheating Norway's economy, usually with 30 to 50 percent in equities and the remainder in government-backed bonds.
	www.forbes.com /technology/ebusiness/feeds/ap/2005/08/23/ap2188712.html (485 words)

	Alexander's Gas & Oil Connections - Norway’s Petroleum Fund faces challenges
		Bergo told the conference that the return on the Petroleum Fund -- set up in 1990 to transfer Norway’s oil wealth into financial wealth -- “will range between 4 %-5 % of GDP when the bulk of our oil resources have been extracted and converted into financial wealth”.
		“Management of the Petroleum Fund poses challenges,” said the deputy governor of the Norges Bank, Jarle Bergo.
		13-03-03 The central bank has acknowledged that there are “challenges” involved in managing Norway’s EUR 78.7 bn Petroleum Fund -- and that there are demographic hurdles as well.
	www.gasandoil.com /goc/news/nte31471.htm (254 words)

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