Stricter controls on intelligence service (Aftenposten)

According to proposals published in a recent consultation paper, the Government plans to order Norwegian military intelligence to provide more detailed and better information on what they are up to. Among other things the Government has demanded to be informed before operations are carried out abroad. The Government has also said it will allow "surplus information" to be passed on to other government agencies, despite the fact that the Intelligence Service is not supposed to investigate Norwegian citizens. The Intelligence Service will also be instructed to step up its activities abroad.

Residential property tax still not home and dry (Dagsavisen)

It is still extremely uncertain whether the Government will manage to win the backing of a majority in the Storting for its proposed changes to the residential property tax. At noon today the Storting’s Finance Committee is due to present its recommendations for a new residential property valuation system. The Storting will debate the issue on Monday evening, but the differences between Labour Party, the Centre Party and the Socialist Left Party are still too great to ensure a parliamentary majority. The other parties are steering clear of the issue, arguing that they want to abolish the tax on "the benefit of living in one’s own home".

Foreigners welcome (Dagsavisen)

Transport Minister Terje Moe Gustavsen has said that in order to keep air fares down he would give a warm welcome to foreign airlines wanting to establish themselves in the domestic Norwegian market. But at the moment no one is interested in competing with SAS. However, Mr Gustavsen does not see any reason to initiate any special moves to encourage foreign airlines into the country.

Finance Minister to use political clout to stop Finns (Aftenposten)

Finance Minister Karl Eirik Schjøtt-Pedersen is prepared to use all his political clout to pull off a merger between Den norske Bank (DnB) and the insurance company, Storebrand. He has already flexed his political muscles by asking the National Insurance Fund to reject the existing agreement between Storebrand and Sampo, the Finnish financial services company. Aftenposten has learned that if necessary the Government is prepared to do more than simply appeal to the Fund’s board. However, no sources were prepared to say exactly what the Government is planning to do.

Locked in to the Finns (Verdens Gang)

DnB chief executive Svein Aaser’s invitation to Storebrand to start merger negotiations does not have a chance. Storebrand is not allowed to negotiate with DnB. The insurance company’s agreement with the Finnish financial services company, Sampo, means that Storebrand can only consider alternative solutions if a higher bid is offered. "The board is prohibited from taking the initiative to find other buyers than Sampo as long as no better offer has been made," said Storebrand’s chairman, Leiv L. Nergaard.

Groundless fears? (Dagens Næringsliv)

One of the reasons politicians are using to explain their colossal opposition to a foreign acquisition of Storebrand is the fact that the insurance company owns shares in a large number of Norwegian companies. According to Per-Kristian Foss, financial affairs spokesman for the Conservative Party, his main argument against selling Storebrand to the Finns is that he does not want the final word on important ownership issues going to a Finnish company. But both Storebrand and the companies concerned categorically reject the idea that an acquisition by Sampo would change the way Storebrand behaves in the market or its investment priorities.

Huge oil installation taken out of mothballs (Aftenposten)

The world’s largest installation for the joint transport of oil and gas has been in mothballs for five years. The oil industry’s development of oil and gas fields at ever greater depths under the sea has led to the need for new technology, which is why the Foundation for Scientific and Industrial Research (SINTEF) was yesterday able to reopen the huge supply installation which was closed down in 1996. "An increasing number of fields have been opened at much greater depths. The Ormen Lange field, for example, is 1,100 metres deep, and some fields will be operating as far down as 1,500 metres," explained David Lysne, chief executive of SINTEF’s petroleum research operation, SINTEF Petroleumsforskning.

Worth Noting

• Jens Ulltveit Moe, president of the Confederation of Norwegian Business and Industry, has given his backing to DnB’s efforts to take over Storebrand. "We need a strong financial services industry with its head offices in Norway," he said. (Dagens Næringsliv)
• Arild Thoresen, senior union representative at Storebrand, says that a merger with the Finnish insurance company, Sampo, will strengthen Storebrand’s position in rural areas. (Nationen)
• The Braathens family has agreed to stand as guarantor for the financial obligations incurred by Braathens’ subsidiary, Malmo Aviation, to the tune of NOK 1.4 billion. SAS would not have agreed to acquire Braathens without this guarantee. If the worst comes to the worst the sale of Braathens to its arch-competitor SAS could leave the Braathens family facing a loss of over NOK 500 million. Today it is impossible to say whether they will make a penny out of the sale of the family firm. (Aftenposten)
• Norway has the world’s tenth largest fishing industry, according to recent figures from the FAO. Heading the list with the world’s largest fishing industry is China. (NTB)
• The Centre Party and the Liberals have said they will not support the Socialist Left Party’s proposal to give homosexuals the right to adopt. It was only a few weeks ago that both parties’ annual conferences voted to allow adoption by homosexuals. (Aftenposten)
• Women on the run will have the chance to erase their old identities. In addition, it will be more difficult to trace those women who choose only to change their names and move to a secret address, and the alarms they wear will have a wider radius. These are among the measures proposed in a working paper published by Justice Minister Hanne Harlem. (Verdens Gang)

Today’s comment from Verdens Gang

On Monday the battle commences to become part owner in a few drops of black gold brought up from the bottom of the sea. The sale of Statoil shares will be the highlight of the year for small investors and major stock market speculators alike. The part privatization of Statoil will be the biggest thing to happen on the Oslo Stock Exchange this year. Statoil’s flotation has also been noticed internationally. In fact it will be one of the four or five largest flotations in the world this year – which is saying a lot. Six independent stock brokers have estimated Statoil’s value at around NOK 170 billion. It will also give a substantial boost to the Oslo Stock Exchange, which in global terms is tiny. We will keep our fingers crossed for Statoil boss Olav Fjell, and hope he succeeds better than his counterpart Tormod Hermansen did last autumn when Telenor went public.