Hopes to make a comeback (Aftenposten)

Jens Stoltenberg is proud of what he accomplished during his tenure as prime minister. "We accomplished more in a year and a half than the previous government did in two and a half years," he said. During his final hours in the prime minister’s chair he opened the door to cooperation with the centrist parties and the Socialist Left. Mr. Stoltenberg believes that Labour will return to the government in cooperation with other parties.

Prominent public figures speak out against bombing (Dagsavisen)

Kjell Magne Bondevik is inheriting a controversial war from his predecessors. There is increasing scepticism towards the bombing of Afghanistan in the Norwegian community. Dagsavisen has spoken to a number of prominent public figures within the political, cultural and social spheres, and all of them are critical of the bombing raids. Some were opposed to bombing even before the retaliatory attacks began. Others were originally in favour of military operations, but have become gradually more critical. Everyone agrees that the parties responsible for the terror attacks against New York and Washington D.C. must be punished, but they refuse to accept President George W. Bush’s claim that one is either for the USA or for the terrorists.

Warns against increased spending of oil money (NTB)

The Norwegian Saving Banks’ Association warns that spending a larger amount of Norway’s petroleum revenues would make it more difficult to implement a cut in interest rates. "Norges Bank will only reduce interest rates in October if it regards our budget as responsible," said Einar Forsbak, Managing Director of the Association, to NTB. If the coalition government falls for the temptation of sweetening the fiscal budget by pouring in even more oil billions, the possibility of Norges Bank lowering interest rates will be reduced. However, Mr. Forsbak declines to specify how much the budget must increase if an interest reduction is to be endangered.

Reduction in interest rates within two weeks (Aftenposten)

Managing Director of the Norwegian Savings Banks’ Association Einar Forsbak is sure that Norges Bank will reduce interest rates as early as two weeks from now. "Developments in the Norwegian economy since the terror attacks in the USA indicate that interest rates will be reduced on 31 October, and not in December, as I originally believed," said Mr. Forsbak. He is uncertain whether the reduction will be 0.5 percentage points or 0.25 points. But if Norges Bank Governor Svein Gjedrem chooses the lesser of the two alternatives at the interest rate meeting on 31 October, Mr. Forsbak feels certain that there will be another 0.25 point cut before the end of the year.

Hanssen wants new Agricultural Minister in place on Thursday (NTB)

Minister of Agriculture Bjarne Håkon Hanssen is resigning as of Friday, but he wants his successor in place on Thursday. The reason for this is that on Friday, the same day as the change of government, the EU will issue a report on a possible crossover of mad cow disease to sheep in England. The outgoing Agriculture Minister is worried that his successor may not have enough time to read up on the situation in advance.

Will he break up the company? (Dagbladet)

Players who are closely following the dramatic developments in Kværner believe that the Russian oil baron Mikhail Khodorkovski intends to break up the company. The Russians have had several meetings with Kjell Inge Røkke’s Aker Maritime during the past week. Both of them are drooling over the juicy steaks they hope to carve out of the ailing company. Mr. Khodorkovski’s company, Yukos, wants Kværner Hydrocarbons, while Mr. Røkke’s company, Aker Maritime, has been trying for a long time to acquire Kværner’s petroleum and gas division.

IT shares are climbing again (Dagens Næringsliv)

You would have to use a magnifying glass to see the difference, but the IT index on the Oslo Stock Exchange has climbed by over 20 per cent since 21 September. IT shares continued to rally modestly world-wide yesterday. Now analysts believe that the IT gains may have a spinoff effect in other areas. "There are certain conditions that indicate that the bottom of the market is behind us. We expect the Norwegian market to expand by 15 per cent during the next 12 months," said chief analyst Jens Morten Wembstad at Gjensidige Nor Equities.

Airports may close next year (Aftenposten)

Norwegian Air Traffic and Airport Management (LV) is putting a knife to the Storting’s throat. If LV does not receive an additional NOK 150 million a year, the first airports will start to close next year. The Storting will decide the fate of the most vulnerable airports. The regional airports represent the greatest drain on the LV’s finances. A total of ten airports are in danger of being shut down, with the most likely candidates being Fagernes, Sandane, Namsos, Narvik and Vardø.

WORTH NOTING

• The new government being formed by Kjell Magne Bondevik is getting a varied reception. The private sector is optimistic, and hopes for reduced taxes and reforms in the public sector. Educators are taking a positive view so far, the gender equality director is worried about the future of abortion legislation, and the agricultural community fears the influence of the Progress Party. (Nationen)
• Practical jokes playing on terrorism may result in fines and jail sentences. The two men who sent a "terrorist" letter to Notodden have already been charged by the prosecuting authorities of a violation that could land them in jail. (Aftenposten)
• The new major shareholder in bankruptcy-threatened Kværner, Russian-owned Yukos, is not interested in talking with union representatives. "Now we are just buying shares," said Hugo Erikssen of Yukos Oil. "I am disappointed," said Kværner union representative Rolf Utgård. (Klassekampen)
• Yesterday evening it looked as though Kværner would succeed in arranging loans that could help the company make it through its acute financial crisis. Earlier in the day the Oslo Stock Exchange had regarded the situation as so dramatic that the company was briefly suspended. (Dagens Næringliv)
• Over 7 000 cattle have been tested for mad cow disease by the veterinarian authorities so far this year, but none have been infected. The Norwegian authorities believe that there are no grounds for fearing that Norwegian sheep have been infected, either. The meat industry and sheep farmers feel that Minister of Agriculture Bjarne Håkon Hanssen overreacted when he set off the mad cow alarm this week. (Nationen)

TODAY'S COMMENT from Dagsavisen, Dagbladet, Dagens Næringsliv and Aftenposten:

The Labour Party may be in for a long stay in the ranks of the opposition. If the new government acts according to the wishes of the Progress Party, Labour will remain in the opposition for the entire Storting period. In that case, the general election in 2005 will be the first opportunity Labour will have to return to a government position. If Labour is to win that election, the party must use its years in the opposition to build itself up politically and as an organization. (Dagsavisen) When Jens Stoltenberg handed in his resignation to the King yesterday, one of the least successful periods of the Labour Party’s history came to an end. After a year and a half in power the party suffered a crushing defeat in the election. But the party’s decline has been going on for a long time, and was confirmed for the first time in the local elections two years ago. At that time Labour was in the opposition, and was led by Thorbjørn Jagland. The upward swing after Mr. Stoltenberg took over was short-lived. This makes it apparent that the party’s decline was due to primarily political factors. Changing the party’s leadership did not help. (Dagbladet) The change of government that was finally announced yesterday is basically a good thing. It gives hope of new and better policies for the country as a whole, with more attention being paid to reorganization and less bureaucracy in the public sector, and fewer limitations for those who want to invest their resources and capital in Norway. But it is also a little sad that Jens Stoltenberg will no longer be prime minister. Before he assumed office he seemed promising, and he left behind him a budget that is not at all bad. But during most of his period in government it seemed as though the old Labour viewpoints were still in effect: the public sector exists for the benefit of the public employees, and private companies and entrepreneurs are to be treated as milch cows for the government. (Dagens Næringsliv) Outgoing Prime Minister Jens Stoltenberg is prepared to be the leader of the opposition for four years. Even if it should prove, despite all evidence to the contrary, that his period of banishment is shorter, we can state decisively that Mr. Stoltenberg’s government was merely a parenthesis between two Bondevik governments. The big question, which cannot be answered today, is whether tomorrow’s change of government will also be a parting of the ways in the sense that it marks the end of an era during which Labour could govern alone. The answer to that question is more likely yes than no. (Aftenposten)