Norway Financial News

Game software development company Animoca Brands has begun the phased launch of its decentralized chess strategy video game, Anichess, in partnership with Norwegian chess grandmaster, Magnus Carlsen, the company announced today.

Canada is considering imposing a cap on the number of international students due to a housing affordability crisis exacerbated by high demand from foreign students. Immigration Minister Marc Miller recently announced a slew of new requirements for foreign students wanting to come study in Canada including proof of more accessible funds. The previous $10,000 proof of accessible funds has been raised to $20,635, with adjustments based on Statistics Canada's living cost benchmark.

(Reuters) -Iranian-backed Houthi militants in Yemen have stepped up attacks on vessels in the Red Sea, impacting a shipping route vital to East-West trade.

Federal Reserve poised to lead the charge for richer countries. Traders boosted bets on how aggressively the Fed will lower borrowing costs this year after a report showed prices paid to producers continued to fall in December. Even so, the path to taming inflation will be bumpy, as a measure of consumer prices rose by the most in three months. Similar metrics in Norway and Chile eased in December, while Argentina ended the year with inflation above 200%.

“Hy-Box technology is an outcome of extensive research and development pursuits based on reliable scientific analysis and study, which has the potential to accelerate the pace of offering a clean and sustainable alternative to conventional fossil fuels,” said Gaurav Tiwari Tony, who has not only worked on Liquefied Natural Gas (LNG) projects but has also built a Floating Storage Regasification Unit (FSRU)-based LNG terminal. FSRU is a floating vessel that can transport, store, and re-gasify Liquefied Natural Gas (LNG) on-board. He revealed that the new Hy-Box Technology is purely a thermal heat technology where a 200-degree hard rock is used to generate steam in a closed loop, which is then directed to propel turbines to generate green power.

By Khushi Singh, Shristi Achar A and Shashwat Chauhan

Prime Minister Narendra Modi on Wednesday inaugurated the 10th Edition of Vibrant Gujarat in state capital Gandhinagar. Several heads of states and top industry captains attended the inauguration ceremony.  Amid high-pitched investments, we spoke with Finland’s Ambassador to India Kimmo Lähdevirta. Since January 1 this year, those who are interested in travelling to Finland and requiring a Schengen visa, will now need to provide details of more funds to qualify. 

Mint explains the significance: What is a P&I entity or club? A P&I entity or a P&I club is a mutual insurance association that provides risk-pooling information and representation for its members. Unlike a marine insurance company, which reports to its shareholders, a P&I club reports only to its members that include ship owners, operators, charterers, freight folders and warehouses. These act as both insurer providers and insurance receivers for its members and provide coverage for a carrier’s third-party open-ended risks such as damage to cargo, war, and environmental damage such as oil spills.

Sri Lanka's navy said Monday it was joining a US-led maritime taskforce to protect international shipping against attacks by Yemen's Huthi rebels. «We will be joining 'Operation Prosperity Guardian' led by the US Navy,» naval spokesman Gayan Wickramasuriya said, with the deployment of a patrol vessel crewed by more than 100 people. Huthi fighters have launched more than 100 drone and missile attacks on targets in Israel and the Red Sea, disrupting traffic in the key shipping route that carries up to 12 percent of global trade. The Iran-backed Huthis say they are targeting Israel and Israeli-linked vessels to push for a stop to the offensive in the Gaza Strip, where Israel has been battling Hamas militants since October 7. Sri Lankan President Ranil Wickremesinghe has said that Huthi attacks had raised freight costs and were impacting exports of garments and tea. The South Asian island nation is emerging from its worst economic crisis in 2022, when months of street protests led to the ouster of then-president Gotabaya Rajapaksa. The country defaulted on its $46 billion external debt and is now being supported by a $2.9 billion four-year bailout loan from the International Monetary Fund. Wickramasuriya said the move would add no additional cost as the vessel was already patrolling Sri Lanka's vast maritime boundary. The US-led maritime force announced late last month includes Britain, Canada, France, Italy, the Netherlands, Norway and other nations. Last month neighbouring India deployed several warships in the Arabian Sea and Gulf of Aden after a string of shipping attacks, including a drone strike near India's coast that the United States blamed on Iran.

Of the firm's 124 equity categories, 19 returned a net negative performance in 2023, with the bottom ten dominated by Asia exposures.

United Cup opening the season. Sydney and Perth are co-hosting the second edition of the tournament, which sees nations face off in a mixed-gender format. Everyone's eyes will be on Iga Swiatek and Novak Djokovic who are in representing their respective countries. So far, Spain vs Brazil, Canada vs Chile, Poland vs Brazil, Poland vs Spain, Greece vs Chile, Greece vs Canda, Great Britain vs Australia, USA vs Great Britain, USA vs Australia, Italy vs Germany, France vs Germany, France vs Italy, Czech Republic vs China, China vs Serbia, Czech Republic vs Serbia, Netherlands vs Norway, Croatia vs Norway, Croatia vs Netherlands, Poland vs China has taken place.

Finland will have to show more funds in thei bank accouts to be eligible for a Schengen visa. Effective from the new year, the Ministry for Foreign Affairs in Finland has implemented new regulations impacting short-stay travelers requiring Schengen visas. Travelers will now have to show a minimum of 50 euros for each day spent in Finland, marking an increase of 20 euros from the previous requirement. This 66% hike comes in response to escalating living costs, the ministry said. A Schengen visa serves as an entry permit for short-term or temporary visits, granting individuals access to travel within the Schengen area, encompassing multiple European countries. Along with the increased financial requirement, Finland has introduced a new proof of sponsorship or accommodation scheme. This initiative allows visa applicants to use the financial resources of their hosts in Finland to meet the stipulated funds requirement. Under this arrangement, hosts are required to complete the sponsorship form, which the visa applicant must include along with the rest of the application. This provision aims to enhance the transparency and accountability of financial arrangements for those seeking short-term stays in Finland.

By Ruma Paul and Sudipto Ganguly

organisations have so far confirmed to be partners for the upcoming Vibrant Gujarat Global Summit (VGGS) 2024, the state government said on Saturday. The 10th edition of VGGS, based on the 'Gateway to the Future' theme, will be organised in Gandhinagar from January 10 to 12.

Scotch whisky and electric vehicles and mobility of skilled workers are yet to be resolved in the proposed trade pact between India and the UK, and are likely to be taken up in the next round of talks in January, an official said on Friday. India is also considering discussing longer transition period and tax restoration for its exporters once the UK's carbon border tax on imported goods kicks in from 2027, as part of the trade pact. Yet, New Delhi remains hopeful of closing three trade pacts — with the UK, Oman and the European Free Trade Association (EFTA) — early next year, the official said. Iceland, Liechtenstein, Norway, and Switzerland comprise the EFTA. In the negotiations with the UK, the two sides have resolved most of the issues related to rules of origin and intellectual property rights chapters, the official said. The pact has 26 chapters. The UK's demand for liberalisation of norms in services sectors like banking, insurance, and legal, and India's ask for easy movement of professionals are some of the unresolved issues.

Shipping firm Maersk says it is preparing to allow vessels to resume sailing through the Red Sea

Non-commercial traders — a group that includes hedge funds, asset managers and other speculative market players — boosted their bearish bets on the greenback in the week ended Tuesday, according to CFTC data compiled by Bloomberg. More than 39,000 contracts are now tied to expectations the US currency will fall, up more than 10,000 from a week ago when the Fed was preparing to meet, the data show. The currency has suffered a pronounced slump in the wake of that confab, when the Fed released updated economic projections forecasting additional monetary easing next year.

crude oil tanker in the Red Sea reported that it was hit by an attack drone fired by Houthi militants, sending out a distress call to a US warship in the area, the US military said Saturday. According to the US military, they received reports from two ships in the Southern Red Sea that they were under attack. The USS Laboon reported distress signals from a Norwegian-operated chemical/oil tanker and a Gabon-owned, Indian-flagged crude oil tanker. The US military says that the Norwegian tanker, Blaamanen, reported a near miss from a Houthi one-way attack drone with no injuries or damage reported, while the Indian tanker, Saibaba, reported a hit but no injuries.

equities. These institutional investors typically take a long-term view of target markets. Their investment horizon may also offer a perspective to investors concerned over the rising benchmark indices and whether the rally can be sustained in the medium to long term. SWFs typically search for a macro opportunity in an economy. A case in point is India’s electronic manufacturing services (EMS) sector.

According to forecasters, the northern regions are expected to experience 80mph winds while rainy conditions are anticipated throughout the festive period. In contrast, London residents might have a milder Christmas, with forecasted highs of 12C.

Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia. The attacks, targeting a route that accounts for about 15% of the world's shipping traffic, have pushed several shipping companies to reroute their vessels.