RØKKE SEEKS ALLIES IN BATTLE FOR KVÆRNER (Aftenposten)

Kjell Inge Røkke has not given up the battle for Kværner, and is now searching for another investor with similar views. The idea is for this investor to buy the Kværner shares which the EU refused to let Mr Røkke control. In the spring of 1999 Kværner was in such dire financial straits that chief executive Kjell Almskog was hard pressed to pay the 80,000 people the company employed at that time. Despite massive criticism, Mr Almskog believes Kværner has come a long way in turning itself around, and is calling on Mr Røkke and the other shareholders to give him some peace so he can complete the job.

TØNSETH FIGHTS BACK (Dagens Næringsliv)

Two years after being fired as Kværner’s chief executive, Erik Tønseth is fighting back against the criticism aimed at him by his successor Kjell Almskog. Mr Tønseth rejects outright Mr Almskog’s claims that Kværner was in reality bankrupt when he resigned two years ago, and says that Mr Almskog has been in the job long enough to take responsibility for his own problems.

LINDHOLDT UNDER ATTACK (Verdens Gang)

Norwegian Confederation of Trade Unions (LO) leader Yngve Hågensen has publicly attacked Tore Lindholdt, head of the National Insurance Scheme Fund, for supporting investor Christen Sveaas in the recent battle over the future of Orkla. The attack follows several weeks of intense discussions between trade union representatives at Orkla and senior figures within the LO. "The type of attitude Mr Sveaas represents worries me. He wants to split up Orkla to increase its value to shareholders, but that kind of strategy undermines the long-term perspective and focus on value creation that we believe is necessary," says Mr Hågensen.

NATIONAL INSURANCE SCHEME FUND BETTER THAN STOCK MARKET (Dagsavisen)

The National Insurance Scheme Fund looks like coming out of a turbulent stock market year with a better return on its investments than the Oslo Stock Exchange average. The Fund’s Chairperson Bjørg Ven is again attempting to refute the claim that the Fund is an active participant in the power struggles taking place in Norwegian industry. During the year the Fund’s huge financial resources have grown to almost NOK 127 billion, 20 per cent of which is invested in shares and the rest in interest-bearing securities. Returns on the Fund’s share portfolio are currently 7-8 per cent higher than for the Oslo Stock Exchange’s all share index.

NORWAY RICHER THAN EVER (Dagbladet)

The Government’s tax revenues are far higher than anticipated in last year’s Final Budget Bill. NOK 43 billion more than expected has trickled into the Government’s coffers, NOK 26 billion of which is due to increased revenues from the oil sector, while around NOK 17 billion comes from increased tax revenues from the rest of the economy. "This certainly disproves the claim that the Conservative Party’s proposed NOK 20 billion in tax cuts would be irresponsible," says Per-Kristian Foss (Conservative).

PATENTING GENES CANNOT BANNED (Nationen)

According to the Norwegian Patent Office’s "grand old man", former advisor Per Lossius, Norway cannot use existing domestic patents legislation or international agreements to ban the patenting of human genes. Mr Lossius does not understand why some politicians are up in arms over the fact that the Office has awarded patents for a total of 237 human genes. "The Ministry of Justice has been kept fully informed of the material for which the Patent Office has awarded patents. It knows what is going on," he says to Nationen, adding that all patents are published in the Patent Office’s official journal, Norsk patenttidende, with a nine-month deadline for objections.

BUSINESS SHOULD HELP IN FIGHT AGAINST AIDS (Dagens Næringsliv)

Development Minister Anne Kristin Sydnes wants Norwegian businesses to help in the fight against AIDS. Norwegian companies must show their sense of social responsibility and take care of their own employees in developing countries, says Ms Sydnes, who has put the battle against AIDS at the top of her agenda.

WORTH NOTING

1. Despite its high profile on issues of gender equality, Norway has fallen far behind both the USA and the deeply conservative UK when it comes to the number of women holding top jobs in industry. While around 13 per cent of US and over 9 per cent of British senior executives are women, the figure for companies belonging to the Confederation of Norwegian Business and Industry (NHO) is a measly 6 per cent. (Dagbladet)
2. Norwegian and foreign pharmacy chains are buying up independent Norwegian pharmacies on a grand scale. They are ready to take over operations and establish new outlets when the new Pharmacies Act comes into force in March next year. (Klassekampen)
3. Helga Hjetland, leader of the Norwegian Union of Teachers, and Anders Folkestad, leader of the Norwegian Teachers’ Union, have both called on Labour and Government Administration Minister Jørgen Kosmo to support the introduction of a collective bargaining fee for non-unionized central government employees. The two will raise the issue in a committee that has been formed to look into central government pay structures. (Dagens Næringsliv)
4. Save the Children is calling for legislation to make a police certificate compulsory for anyone, paid or voluntary, who is involved in children’s out-of-school activities. The aim is to weed out people who have been charged with or convicted of child abuse. The Commissioner for Children, Trond Waage, supports the call. (Aftenposten)
5. Clean air and low levels of water pollution make Norway environmentally the best country in the world, according to a recent international survey. (Dagsavisen)

TODAY’S COMMENT FROM DAGENS NÆRINGSLIV

The budget compromise agreed earlier this autumn between the Government and the centre alliance parties has given Finance Minister Karl Eirik Schjøtt-Pedersen and his civil servants a major headache. The Ministry of Finance has still not managed to work out the necessary detailed regulations concerning the business cycle tax or the electricity surcharge, due to problems defining the scope, implementation and consequences of the two measures. The problems currently facing the ministry are indicative of the type of detailed late-night bargaining which was carried out in the Storting this autumn. Enthusiastic politicians made a total of 160 changes to the budget, some of them involving sums as small as NOK 500,000. No wonder it has gone wrong! It is a good thing when politicians are capable of admitting their mistakes. But they should also learn from those mistakes and ensure that the next time they attempt a midnight compromise, they deliver a better piece of political craftsmanship.