The Royal Ministry of Foreign Affairs, Oslo
Press Division

Norway Daily No. 225/00

Date: 22 November 2000

TELENOR SHARES ARE NOT IN DEMAND (Nationen)

According to a survey by Din Mening/Norsk statistikk, only one of ten people plans to invest in Telenor shares. Nevertheless, Telenor and DnB Markets, who are responsible for the sale, are extremely satisfied. "The numbers are good. After all, we aren’t expecting a revolution," says Audun Bø at DnB (Den norske Bank).

STATOIL NOT TO RECEIVE FREE SHARES (Klassekampen)

The EFTA Surveillance Authority (ESA) made it very clear that Statoil may not be given shares in the State’s Direct Financial Interest (SDFI). This means that the Labour Party’s decision to "transfer" shares to Statoil is not accepted policy. "We are willing to pay," says Wenche Skorge, chief information officer at Statoil. State Secretary Bjørg Sandal at the Ministry of Petroleum and Energy also confirms that Statoil will probably have to pay for its shares in the SDFI.

ARE SWEETS AND FIZZY DRINKS DEFINED AS FOOD? (Vårt Land)

The politicians have decided that VAT on food should be cut in half. But they have not yet decided what is to be defined as food. "Anything you can put in your mouth except for alcohol and pills is food," according to Terje Johansen, finance policy spokesman for the Liberal Party. But nutrition experts want sweets, fizzy drinks and snack foods to be exempted from the VAT cuts.

ORKLA IS DIVIDED (Dagens Næringsliv)

"The Orkla board of directors is no longer functioning as a unified entity," says board member Arvid Strand, who represents the employees. It is being said that certain persons, who prefer to remain anonymous, want to hold an extraordinary general meeting to decide whether it will be board chairman Finn Hvistendahl or Jens P. Heyerdahl who will remain in the company.

...AND THE RAIN KEEPS COMING (All papers/NTB)

The first evacuees have now moved into the Civil Defence flood emergency shelters in østfold. In Trøgstad the first landslides have taken place. The roaring waters of the Akerselva river, which runs through Oslo, has now become a tourist attraction, but the river cannot handle more than a few additional centimetres of water. Rain and high winds continue in the entire southeast. In the northwest, a dry autumn has resulted in low water levels, and now 600 000 fish are in danger of "drying up".

WORTH NOTING

• The Christian Democratic Party wants to prohibit divorced parents who have child custody from relocating far away from the parent who does not have custody. The Labour Party and Progress Party, too, are considering proposals that would limit the right of the custodial parent to move. The Single Parents’ Association would prefer the introduction of a public grant scheme that would cover 70 per cent of the travelling costs of a parent who must travel to visit his or her child. ( Aftenposten)
• Here are some of the results of the VAT reform that will go into effect on 1 July 2001: The cost of a normal stamp will increase to NOK 5.40. A visit to a lawyer will be more expensive, but airline tickets in parts of northern Norway will be cheaper. The price of most types of food will also go down. ( Aftenposten)
• Board Chairman Jan Christian Opsahl at the Tomra beverage container recycling company is threatening to move some of the company’s functions abroad. He himself intends to move abroad as soon as possible. Mr. Opsahl is disgusted with the Norwegian system of taxation. ( Aftenposten)
• There are strong indications that Arne Wam will be offered the position of chief executive of the Norwegian State Railways at Friday’s board meeting. The organization’s employees will welcome his appointment. ( Dagsavisen)
• Several Norwegian private schools are now planning to expand their study programmes abroad since the Atlantis Medical College won a court decision against the state over accreditation. The state did not succeed in its claim that legislation regarding the funding and accreditation of private colleges applies only to educational programmes in Norway. ( Dagsavisen)

TODAY'S COMMENT from Vårt Land:

Limited companies are called "limited" for a reason. What is actually limited is the liability of the owners. This arrangement came about to encourage people to invest capital in risky enterprises without being left with full liability for the company’s debts if it went under. But the company’s ethical responsibility is also limited. Shareholders do not have to worry about how profits are earned. Is this morally defensible? When the state or the church is involved, this question is automatically regarded as valid. But shouldn’t others also be conscious of how their money is earned? We see a need for limited companies to take responsibility not only for their economy, but also for the ethical aspects of their activities. We probably also need some form of independent "watchdog" to see to it that shareholders have an opportunity to make ethical choices.