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NORWAY NEWS – latest news, breaking stories and comment – NORWAY NEWS
NORWAY NEWS – latest news, breaking stories and comment – NORWAY NEWS
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Srilanka and Norway

Norwegian research vessel to assess Sri Lankan marine stocks in 2017

by Nadarajah Sethurupan August 15, 2016
written by Nadarajah Sethurupan

PM-NorwayNorwegian funded research vessel is to visit Sri Lankan waters next year to carry out a marine stock assessment, Norwegian Prime Minister Erna Solberg said.

This would be the first time an in-depth research on fish stocks and a marine survey covering the entire sea of the country conducted in Sri Lanka, and Norway has consented to extend their support to Sri Lanka in this endeavour.

“Sri Lanka and Norway could work together through our fisheries cooperation on sustainable use of marine resources,” Solberg said.

“We hope that the Norwegian funded research vessel Fridtjof Nansen will visit Sri Lankan waters next year to do a stock assessment.”

The study will be carried out for a period of two years and the data will be used in assessment of fish stocks, especially in submission of recommendation of strategies for fish resources development.

She was delivering the Lakshman Kadirgamar memorial lecture on the theme ‘Sustainable Development Goals: Working together for our Common Good’.

(N.Sethu)

August 15, 2016 0 comments
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Asia and Norway

Norwegian Consortium Holds Oil, Gas Seminar in Iran

by Nadarajah Sethurupan August 15, 2016
written by Nadarajah Sethurupan

colombia-government-farc-close-to-peace-deal-mediator-norwayA consortium of Norwegian knowledge-based companies and academic bodies, organized by an Iranian energy management and consultancy company Energiring, held a seminar on the development of oil and gas upstream sector in Iran last week.

“The seminar focused on the transfer of technical and management knowhow in the upstream sector of the oil and gas industry,” Mohammad Reza Ja’fari-Nasr, an academic figure at the Research Institute of Petroleum Industry, was quoted as saying by Shana.

Boosting extraction rate, smart technologies, technical services, mechanisms of technology transfer and contract model were on the confab’s agenda.

“The seminar was a result of four months of talks between RIPI and Energiring,” he said.

According to Ja’fari-Nasr, Energiring has set up a consortium of knowledge-based companies from the University of Stavanger and Petrad Faculty for the implementation of Iranian oil and gas recovery plans.

The consortium engages in activities such as holding seminars, training courses and workshops, implementing joint applied research projects and providing public and private companies and research institutes with management and technical consultation in the Middle East, especially in Iran.

Boosting Extraction Rate

Referring to Iran’s average extraction rate of 27% from its hydrocarbon reserves, the official noted that Energiring has valuable experience in boosting extraction rate to 60% in Norway.

“In view of the fact that boosting oil recovery by only 1% will earn billions of dollars for the country, the issue is of high priority for the development of Iran’s oil and gas industry,” he said.

Iran has more than 15 shared oil and gas fields, the oil extraction rate of which should be raised to help materialize the country’s goal to reach pre-sanctions oil production level that amounted to about 4 million barrels per day in 2011. Ja’fari-Nasr stressed that although Norway’s oil activities date back to three decades, it has a leading industry in applying cutting-edge technology, including deep-water drilling operations, which can help Iran pump more oil. Iran’s oil industry started activities a century ago.

According to RIPI’s official website, Oeystein Foersvoll, the division manager of the Norwegian Stavanger Offshore Technical College, said on the sidelines of the seminar that the college’s main goal for attending the event is to launch bilateral collaboration and provide consultation for Iranian companies on workforce training, a field at which SOTS has expertise.

August 15, 2016 0 comments
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Srilanka and Norway

Sustainable Development Goals: Working together for our Common Good

by Nadarajah Sethurupan August 15, 2016
written by Nadarajah Sethurupan

PMLakshman Kadirgamar Memorial Lecture 2016 : Speech by Hon. Erna Solberg, Prime Minister of Norway.

Minister of Foreign Affairs, Executive Director, Excellencies, ladies and gentlemen,
Thank you, Dr Panditaratne for giving me this opportunity to speak about sustainable peace and development at this prestigious institute. The topic is very close to my heart as a co-chair of the UN Secretary-General’s Sustainable Development Goals Advocacy Group and as Prime Minister of Norway.

After having spent a few days on holiday in your beautiful country, I have already become very fond of Sri Lanka – its wonderful people, it’s fascinating culture and its magnificent scenery.

norway-pm-met-tna-1024x682Lakshman Kadirgamar, who gave his name to this institute, lost his life in search of a path to peace. This tragedy tells us how costly and difficult achieving peace can be.

Foreign Minister Kadirgamar recognised that significant change was needed to enable Sri Lanka’s communities to live together peacefully. His vision for Sri Lanka was a national identity based on pluralism. He has said that – and I quote: ‘People who live in Sri Lanka are first and foremost Sri Lankans, then we have our race and religion, which is something given to us at birth’.

8d6ffca4845598f9d79a9232e1b56f62_XLThis institute is keeping Mr Kadirgamar’s vision for Sri Lanka alive by providing valuable analyses of the country’s strategic interests in a context of changing global realities.

Since independence in 1948, Sri Lanka has consistently shouldered international responsibilities. It has taken active part in UN norm-setting processes and has provided staff to key UN positions, including several Under-Secretary-Generals. Most notably Sri Lanka has contributed thousands of UN peacekeepers to missions around the world. At present, more than a thousand Sri Lankan troops are serving in UN peacekeeping missions in Haiti, South Sudan, and the Central African Republic.

These are crucial contributions not only to peace, but also to future prospects for development in countries seriously affected by conflict.

At home, Sri Lankan welfare policies have attracted international attention and influenced other countries’ policymaking. Achievements in the areas of health and education were important for Sri Lanka’s progress towards the Millennium Development Goals. Indeed, free education and health services have been provided for decades. These and other achievements provide a good basis for achieving the SDGs.

Education, particularly for girls, is a human right as well as the most effective investment in sustainable development. Women’s full and equal participation at all levels and sectors in society is vital, including in politics and business.

This will boost economic growth, help ending poverty, improve global health, protect our environment and climate and strengthen peace and stability.

As co-chair of UN Secretary-General Ban Ki-moon’s Sustainable Development Goals Advocacy Group, I am pleased that the development priorities of Sri Lanka are in line with the SDGs. As Prime Minister of Norway, I am also pleased that these priorities shape our bilateral development cooperation. Key goals in this respect include:

• SDG 13 on climate action;
• SDG 14 on conservation of the oceans;
• SDG 16 on peace and justice;
• SDG 5 on gender equality; and
• SDG 7 on affordable and clean energy.

First of all, I would like to share my thoughts about why and how the SDGs are a roadmap to the future we all want.
I see the set of SDGs as the main track – not a side track – for addressing the root causes of poverty, conflict, violent extremism, refugee crises, youth unemployment, forced migration and global warming.

These economic, social and environmental problems affect all of us, regardless of where we live – or how we make a living. When it comes to achieving sustainable development all countries are developing countries.

We all need to see the link between the long-term work to achieve the SDGs and the comprehensive action needed to address what is broken in our world.

Our aim is to leave no one behind as we make progress towards the SDGs.

Why is the principle of leaving no one behind so important?

Nelson Mandela has put it best – and I quote: ‘As long as poverty, injustice and gross inequality exist in our world, none of us can truly rest.’

Eradicating extreme poverty, ensuring mothers and children do not die from avoidable complications during childbirth, making sure that everyone is nourished, and gets a quality education – all this is our common responsibility.

So leaving no one behind is the right motto for our efforts.

It is also a smart motto in our highly interdependent world.

If we are to achieve lasting peace, stop forced migration, fight pandemics and stop harmful climate change anywhere in the world, our common SDG efforts must apply everywhere in the world.

This is why we will not leave fragile and marginalised areas and populations behind.

We know from the MDG campaign that reaching the most marginalised is difficult. This is mainly due to problems of access and high costs.

It is often hard to reach people trapped in areas of crisis and conflict for obvious reasons of safety.

And it is costly because a good deal of infrastructure has to be built from scratch in the poorest and most marginalised areas of the world.

This means that people living in these areas miss out on virtually all the development taking place elsewhere in the world, and that they do not enjoy even the most basic rights.

However, this should be taken as a challenge – not a discouragement.

If it takes preventing and stopping wars – if it takes building basic infrastructure from scratch – to reach the most vulnerable, marginalised and destitute, we are going to do just that.
And we are going to do it for our common good.

The SDGs are universal. We all own these goals – and we can only achieve them together. That means that we need a strong sense of ownership, able leadership and innovative public partnerships at all levels.

Ownership is essential. It is human nature to care about what you own.

Besides, ownership of all the goals – not just by leaders, but by everyone – is crucial if we are to mobilise the extra effort required.

There are many good examples of building SDG ownership, such as the SDG consultation processes with relevant stakeholders around the world. These should continue.

Awareness and knowledge are essential for ownership. In Norway, the SDGs are to be included in our school curriculums. Ensuring free media is also an important part of our efforts.

The business sector too is taking ownership of the SDGs, as a growing number of companies align their business strategies with the goals. I have learnt for instance that the Sri Lankan textile industry has initiated energy efficiency efforts.

Today, and every day until the goals are achieved, we must take concrete steps to make the world more sustainable.
This requires leadership in all countries and at all levels of society.

There are already several examples of leadership within the private sector. Now political leaders must cultivate political will. And they must translate political will into legislation, policies and concrete plans.
Then we must finance and implement the plans.

Financing sustainable development requires domestic revenue generation combined with good management of existing resources and improved tax structures that eliminate tax havens.

This is not only a question of global leadership; it is also a question of national and local leadership. At the same time it is a question of international solidarity.

International development aid will be needed in the most vulnerable areas of the world to ensure that no one is left behind.

The 17 goals are interconnected, and many of them require cooperation across national borders.
That means that we will fail or succeed together.

In many areas, business as usual will not do. We must build new and innovative partnerships.

Governments, businesses, civil society organisations and academia must work together to find efficient, sustainable solutions locally, nationally and globally.

The best-known example of an international, cross-sectoral partnership is probably GAVI, the Vaccine Alliance. GAVI was important for the success of the Millennium Development Goals.

Let us find inspiration in the Vaccine Alliance as we form partnerships based on the new goals.

For example, Sri Lanka and Norway could work together through our fisheries cooperation on sustainable use of marine resources (SDG 14). We hope that the Norwegian funded research vessel Fridtjof Nansen will visit Sri Lankan waters next year to do a stock assessment.

I believe equity in education is the key to unlocking opportunities for everybody to enjoy a good life. Worldwide, 37 million children and adolescents are out of school due to crises and conflicts.

In Syria, for example, it is clear that the international community has done too little too late. School provides a sense of normality and hope, and helps build skills that give young people opportunities for the future. It will be even more challenging to build inclusive and sustainable societies if children and young people are denied an education.

The main responsibility for education rests with national governments. Domestic resource mobilisation is therefore crucial. At the same time, aid will continue to play a role, especially in the poorest countries, in fragile situations and for marginalised groups.

When my Government took office almost three years ago, we made education the top priority in Norway’s development policy. We are in the process of doubling aid for education over a four-year period, with particular focus on girls’ education, quality and learning outcomes, vocational training, and education in emergencies and protracted crises.

We have chosen a broad and comprehensive approach, using a variety of channels and partners. We want to spur action at the global, national and local level. Norway is a strong supporter of multilateral institutions including UNICEF and UNESCO. We are doubling our support to the Global Partnership for Education.

A substantial part of our funding is also channelled through civil society. It is important to build accountability and engagement at the community level, and local NGOs have a key role to play, involving parents and local communities.

The downward trend in aid for education over the past years must be reversed. We need a renewed and compelling investment case for education. And we need a financing pathway for achieving universal access to quality education.
This is why I initiated the International Commission on Financing Global Education Opportunities, together with UNESCO General Director Irina Bokova and the Presidents of Chile, Indonesia and Malawi. The Commission was established last summer and is chaired by the UN Special Envoy for Global Education, Gordon Brown.

In September, the commission will submit its report to the UN Secretary-General who has promised that he will act upon its recommendations. I have high hopes that this report will mobilise greater political will and more financial resources.

Reaching SDG 4 – and the other goals – will be a challenge. But the new development agenda also offers a unique opportunity. For the first time in history, we can succeed in providing quality education for all children and young people. Sri Lanka has achieved a literacy rate of more than 92%, gender parity in education, and has put an end to disparity in school enrolment. Here you are ahead of other countries in the region, and can lead the way.

Turning now to health, Norway’s investments in global health in 2016 will amount to 365 million US dollars. Our two main funding channels are GAVI (the Vaccine Alliance) and the Global Fund to Fight Aids Tuberculosis and Malaria. Both organisations are increasing their efforts and resources to help those who are hardest to reach, in line with the principle of leaving no one behind.

In conclusion, I would like to underline that the Sustainable Development Goals are not just a means of fixing what is broken in our world; they will put the world on a new, sustainable path.

It will take a lot of effort to achieve the goals, but this is our generation’s most important task. If we put our minds and resources to it, we can eradicate extreme poverty by 2030.
So let us get to work. In Norway, Sri Lanka – all over the world.

Thank you

August 15, 2016 0 comments
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Srilanka and Norway

Norway, Sri Lanka renew commitment to revitalize relationship

by Nadarajah Sethurupan August 15, 2016
written by Nadarajah Sethurupan

PMNorway and Sri Lanka have renewed their commitment to revitalize the relationship between both countries, the Foreign Ministry said today.

The commitment was made during the just concluded visit to Sri Lanka by the Prime Minister of Norway, Erna Solberg.

The Prime Minister commenced a two-day official visit on 12 August 2016. This official visit took place in her dual capacity as Prime Minister of the Kingdom of Norway as well as co-chair of the Sustainable Development Goals (SDGs) Advocacy Group, an appointment made by the UN Secretary- General, Mr. Ban Ki-moon.

Prime Minister Solberg had bilateral discussions with President Maithripala Sirisena on 12 August and she also called on Prime Minister Ranil Wickremesinghe, and the Leader of the Opposition, R. Sampanthan.

“The official visit of the Norwegian Prime Minister to Sri Lanka reflects the renewed commitment of Sri Lanka and Norway to revitalize a relationship spanning over 65 years. The Prime Minister’s visit follows on the initiatives of Foreign Minister Børge Brende and Norway’s State Secretary Tore Hattrem during their visits to Sri Lanka in January and May-June 2016 respectively, and Foreign Minister Mangala Samaraweera’s visit to Oslo in June 2016,” the Foreign Ministry said.

The discussions held on 12 August focused on strengthening ties between the two countries in all spheres, especially economic and technical cooperation. Norway has agreed to assist Sri Lanka develop its fisheries sector to increase productivity and sustainability.

Ways to further advance the bilateral economic agenda by diversifying areas of cooperation in tourism, aquaculture, renewable energy and education were also discussed. The Norwegian Pension Fund (Sovereign Wealth Fund), which has already invested US$31million in different sectors in Sri Lanka, was invited to further invest in emerging new avenues.

Prime Minister Solberg commended the progress made by Sri Lanka in advancing political and economic reforms and advancing reconciliation since January 2015, including the successful passage of the Office on Missing Persons Bill.

President Sirisena, while apprising Prime Minister Solberg of developments in Sri Lanka since January 2015, thanked Norway for being a longstanding and steady development cooperation partner through NORAD (Norwegian Agency for Development Cooperation) since 1977. President Sirisena congratulated the Norwegian Premier on her appointment as co-chair of the Advocacy Group on the SDGs. The two leaders discussed cooperation in multilateral fora and ways to move forward the SDGs agenda.

In the evening of 12 August, Prime Minister Solberg delivered the Lakshman Kadirgamar Memorial Lecture 2016 on the theme ‘Sustainable Development Goals: Working together for our Common Good’.

Yesterday she visited the Mirissa Fishery Harbour, and then proceeded to visit the Galle Fort.

(N.Sethu)

August 15, 2016 0 comments
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Srilanka and Norway

Intern’l responsibilities crucial : Norwegian PM

by Nadarajah Sethurupan August 13, 2016
written by Nadarajah Sethurupan

03-8-1140x762Norwegian Prime Minister Erna Solberg said today international responsibilities were crucial contributions not only to peace, but also to future prospects for development in countries seriously affected by conflict. Delivering the Lakshman Kadirgamar Memorial Lecture 2016, she said Sri Lanka had consistently shouldered international responsibilities since independence in 1948.

“It has taken active part in UN norm-setting processes and has provided staff to key UN positions, including several Under-Secretary-Generals. Most notably Sri Lanka has contributed thousands of UN peacekeepers to missions around the world.

At present, more than a thousand Sri Lankan troops are serving in UN peacekeeping missions in Haiti, South Sudan, and the Central African Republic,” she said.

Prime Minister Solberg, who delivered her speech on Sustainable Development Goals, said that Sri Lankan welfare policies had attracted international attention and influenced other countries’ policymaking.

“Achievements in the areas of health and education were important for Sri Lanka’s progress towards the Millennium Development Goals. Indeed, free education and health services have been provided for decades. These and other achievements provide a good basis for achieving the SDGs,” she said.

She said education, particularly for girls, was a human right as well as the most effective investment in sustainable development and added that women’s full and equal participation at all levels and sectors in society was vital, including in politics and business.

“This will boost economic growth, help ending poverty, improve global health, protect our environment and climate and strengthen peace and stability,” she added.

(dailymirror)

August 13, 2016 0 comments
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Srilanka and Norway

TNA leader briefs Norwegian PM

by Nadarajah Sethurupan August 13, 2016
written by Nadarajah Sethurupan

norway-pm-met-tna-1024x682A meeting between visiting Norwegian Prime Minister and the Leader of the Tamil National Alliance and Leader of the Opposition R. Sampanthan took place in Colombo yesterday.

Sampanthan brought to the notice of the Prime Minister concerning various issues faced by the Tamil people in the North and East. He pointed out that even though some of the lands had been released by the military in the North and East, the government could have done much more in this matter. He further stated that the resettlement processes too could have been done speedily by the Government.

Speaking on framing the new Constitution and the processes towards it, Sampanthan stressed that the resolution to the national question must be found in the new Constitution. Speaking at the meeting with regard to the Office of the Missing Person’s Bill, Sumanthiran said it’s a positive step the Government has taken in finding the truth which would lead to true reconciliation.

The Prime Minister assured that Norway would continuously and constructively engage with Sri Lanka in supporting to its economic development and also in the reconciliation process.

August 13, 2016 0 comments
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Srilanka and Norway

Norway – Sri Lanka cooperation to increase in energy, fisheries, IT sectors

by Nadarajah Sethurupan August 12, 2016
written by Nadarajah Sethurupan

MS08122016N_1Sri Lanka and Norway will take steps to increase cooperation in several areas, including fisheries, information technology, energy, hydro and solar power as well as oil and gas exploration.

This was revealed during the bilateral discussions held between President Maithripala Sirisena and visiting Norwegian Prime Minister Erna Solberg at the Presidential Secretariat today (12th Aug.).

Ms Solberg expressed appreciation over the steps taken by the current government to strengthen democracy, reconciliation and development.

MS08122016N_2The President said that Sri Lanka would appreciate technical expertise from Norway to develop the fisheries industry in Sri Lanka as there are immense possibilities for growth in both sea fishing and inland fisheries. He said that Sri Lanka seeks foreign investments in export oriented industries such as garments, gem and jewellery, ceramic, plants, timber and medicine. He said that Minister Mahinda Amaraweera would visit Norway next week to discuss ways and means of expanding cooperation in the fisheries sector.

MS08122016N_3Ms Solberg said her government would take steps to bring together potential Norwegian investors and Sri Lankan partners. She added that as Sri Lanka has now reached the status of a Middle-Income Country, the focus would be to assist development and increase cooperation in trade, industry and business.

Norwegian Prime Minister praised the tourism industry in Sri Lanka and said that she had a most enjoyable holiday in the island during the last week. She added that there is immense scope for high growth in the tourism sector.

B37A7158The Norwegian delegation, headed by Prime Minister Erna Solberg included Thorbjorn Gaustadsaether, Ambassador of Norway to Sri Lanka, Lasse Bjorn Johannessen, Director, South Asia, Ministry of Foreign Affairs of Norway, Borge Romsloe, Senior Adviser, Prime Minister’s Office of Norway, Espen Gullikstad, Special Adviser for Sustainable Development Goals and Prime Minister’s Office/Ministry of Foreign Affairs of Norway.

The government delegation was comprised of Ministers Mangala Samaraweera, Mahinda Amaraweera, Ravi Karunanayake, Dr. Sudarshani Fernandopulle, and Secretary to the President P B Abeykoon, Treasury Secretary Dr. H.M.S Samaratunga and Foreign Secretary Esala Weerakoon.

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(N.Sethu)

Maithiri

August 12, 2016 0 comments
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Srilanka and Norway

Norwegian PM calls on Sri Lankan PM

by Nadarajah Sethurupan August 12, 2016
written by Nadarajah Sethurupan

Norwegian Prime Minister Erna Solberg, who is currently on an official visit to Sri Lanka, met Prime Minister Ranil Wickremesinghe at Temple Trees this afternoon.

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(N.Sethu)

August 12, 2016 0 comments
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Srilanka and Norway

Norway Prime Minister meets Sri Lankan President for bilateral talks

by Nadarajah Sethurupan August 12, 2016
written by Nadarajah Sethurupan

MS08122016N_3

Sri Lanka’s President Maithripala Sirisena today received the Prime Minister of Norway Erna Solberg, who is commencing a two-day official visit from today, at the Presidential Secretariat.

The Norwegian leader was accorded a guard of honor and a gun salute, following which the two heads of state held bilateral discussions.

MS08122016N_1

Later today Ms. Solberg will meet Prime Minister Ranil Wickremesinghe. She will also be meeting Foreign Affairs Minister Mangala Samaraweera and Opposition Leader R. Sampanthan.

Solberg has been invited to deliver this year’s Lakshman Kadirgamar Memorial Lecture. It will take place tomorrow at the Lakshman Kadirgamar Institute of International Relations and Strategic Studies. Prime Minister Solberg will visit a Fisheries Harbour project in Mirissa on Sunday where she will meet harbour development committee representatives. She will also visit the Galle Fort, ministry sources said.

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(N.Sethu)

August 12, 2016 0 comments
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Srilanka and Norway

Sri Lankan delegation to attend fisheries exhibition ‘Nor Fishing’ in Norway next week

by Nadarajah Sethurupan August 12, 2016
written by Nadarajah Sethurupan

NorFishingNorway has officially invited Sri Lanka to participate and conduct a discussion on fish exports at the internationally acclaimed fisheries exhibition to be held in Trondheim, Norway next week.

Upon the invitation of the Norwegian government, a delegation headed by the Minister of Fisheries and Aquatic Resources Development Mahinda Amaraweera will be participating in the international trade fair Nor Fishing – 2016 from August 15th to 18th.

The Norwegian Ambassador to Sri Lanka Thorbjørn Gaustadsæther officially invited Minister Amaraweera to participate in the trade fair and make observation in the fisheries industry in a discussion held recently at the Ministry.

Nor Fishing – 2016 will be conducted with the participation of European Union countries and other developed and developing countries of the world. Hence the Minister states that this opportunity would be of immense use for Sri Lanka in winning the international market for fish exports.

The delegation headed by the minister and comprising officials including the Additional Secretary to the Ministry, Director General of NAQDA and the Advisor to the Minister will set off for Norway on 13th August.

(N.Sethu)

August 12, 2016 0 comments
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Srilanka and Norway

Norwegian Prime Minister to be welcomed today in Sri Lanka

by Nadarajah Sethurupan August 12, 2016
written by Nadarajah Sethurupan

vwg151215-014-nyttaarstalenThe Norwegian Prime Minister Erna Solberg, will have her official programme on 12 and 13 August 2016. She is already in Sri Lanka on a private visit.

Norwegian Prime Minister Erna Solberg, who is already in Sri Lanka on a private visit, will have an official Programme at the invitation of the Government on Friday and Saturday, The Foreign Affairs Ministry said in a statement today.

Prime Minister Erna Solberg will be received at the Presidential Secretariat on Friday 12 August and accorded a guard of honour and gun salute, following which she will hold bilateral discussions with President Maithripala Sirisena.

Prime Minister Solberg will also meet Prime Minister Ranil Wickremesinghe, Foreign Minister Mangala Samaraweera and Leader of the Opposition R. Sampanthan.

On Friday 12 August evening, Prime Minister Solberg will deliver the 2016 Lakshman Kadirgamar Memorial Lecture at the Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKIIRSS), at the invitation of the Chairperson and Board of the Institute. This Lecture will be for invited guests.

On 13 August, Prime Minister Solberg will visit a Fisheries Harbor project in Mirissa and meet representatives of a Harbor development committee. She will also visit the Galle Fort.

(N.Sethu)

August 12, 2016 0 comments
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Economics

Yara acquires Tata Chemicals’ urea business in India for $400 million

by Nadarajah Sethurupan August 12, 2016
written by Nadarajah Sethurupan

erez-e1389865210790In the biggest deal-ever in the fertiliser sector, Norwegian chemical company Yara International ASA has acquired Tata Chemicals’ Babrala urea plant and distribution business in Uttar Pradesh for $400 million.

The acquisition is on a debt and cash free basis, including normalised net working capital.

The plant has an annual production of 0.7 million tonne ammonia and 1.2 million tonne urea, and generated revenues and EBITDA of respectively $350 million and $35 million in the financial year ended March 31, 2016.

The plant was commissioned in 1994, and is the most-energy efficient plants in India, the company said in a statement.

”This acquisition represents another significant step in our growth strategy, creating an integrated position in the world’s second-largest fertiliser market. India has strong population growth and increasing living standards, and significant potential to improve agricultural productivity,” said Svein Tore Holsether, President and Chief Executive Officer of Yara.

”This well-operated plant and its highly skilled employees will make an excellent addition to Yara’s global production system,” said Holsether.

The agreement is subject to regulatory approvals in India, a process which is expected to take 9-12 months after which closing of the transaction can take place, the company said.

Yara has operated in India since the 1990s, focusing in recent years on premium product sales in the West and South of the country, delivering strong volume growth and margins well above Yara’s average for the region.

”Our growth in India can be further accelerated with this acquisition, creating a larger market footprint for Yara and enabling increased premium product sales in particular. We will place great emphasis on successful integration of the operations, and will put in place an integration team consisting of highly experienced TCL and Yara employees, the latter from both our existing India operations and our regional management,” said Terje Knutsen, SVP and Head of Yara Crop Nutrition.

August 12, 2016 0 comments
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Economics

Norwegian Air’s Irish unit posts near-$60m loss

by Nadarajah Sethurupan August 12, 2016
written by Nadarajah Sethurupan

2016-08-12_bus_23648595_I1Norwegian Air International (NAI), the Dublin-based carrier whose efforts to launch flights between Cork and America have been stymied by US officials, posted a $59.7m (€53.4m) loss last year.

Total revenue at the airline, which is a subsidiary of Norwegian Air Shuttle, hit $719m (€644m), according to accounts for the Irish carrier.

That included ticket and ancillary revenue of $577.7m and so-called wet lease revenue of $141.2m.

The airline operates services throughout Europe, and also to Asia. The wet lease revenue is turnover NAI generates from leasing its aircraft and crew to group companies.

The airline received an air operator’s certificate from the Irish Aviation Authority in 2014.

But a delay by the United States Department of Transportation in granting NAI a permit to allow it fly to America has sparked a major political row between the US and the European Union.

NAI applied for a permit over two years ago. Earlier this year, the US Department of Transportation signalled it intended to grant the permit. But since then, the process has stalled. It’s likely it will be left to the next the US administration to deal with the matter.

Last month, the EU’s Transport Commissioner, Violeta Bulc, warned US Secretary of Transportation Anthony Foxx that the failure to issue a permit to NAI could damage plans for the proposed EU-US Transatlantic Trade and Investment Partnership.

“At a time when closer bilateral ties are being put into question by many sectors of our societies, we should carefully consider the implications that this long and protracted dispute could have,” she told Mr Foxx.

NAI has established operations in Dublin to benefit from the Open Skies agreement that exists between the United States and the European Union. It enables any airline based in the EU to fly from any location in the EU to any location in the US, and vice versa.

If it secures a US permit, NAI has said it will launch a low-cost service between Cork and Boston initially, and eventually, another to New York.

US aviation unions claim NAI has based itself in Ireland to circumvent more stringent labour rules in Norway, something that NAI has consistently denied. The Irish Airline Pilots’Association has also opposed NAI’s plans to use Ireland as a base to fly to the US from Europe.

The delay by US authorities in issuing NAI a permit has prompted the EU to seek arbitration on the matter.

NAI notes in its accounts that the granting of a permit is thought to be imminent. But the assertion is certainly optimistic.
NAI said that it made a loss last year due to off-off new base set-up costs, as well as aircraft and financing costs, and that it expects to be profitable in future years.

The airline’s fuel costs totalled $153.3m last year, while its operational staff costs were $99.2m.
NAI has 50 of its own employees, who work in administrative roles, and hires operational personnel from group companies.

Catering costs totalled $22.5m, while its airport costs were $106.2m.
Irish Independent

August 12, 2016 0 comments
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Peace Talks

Manila court allows Tiamzon couple, Silva to join peace talks in Norway

by Nadarajah Sethurupan August 12, 2016
written by Nadarajah Sethurupan
Court of Appeals

Court of Appeals

A Manila court on Friday allowed communist leaders Benito and Wilma Tiamzon to post bail and join in the resumption of formal peace negotiations with the government in Oslo, Norway while on trial for a multiple murder case.

Rebel leader Adelberto Silva was also given temporary freedom following a hearing conducted by Judge Thelma Bunyi-Medina of the Manila Regional Trial Court branch 32, according to the rebels’ lawyer Edre Olalia.

The court has set P100,000 bail for their release from detention on charges linking them to the mass grave in Leyte containing suspected victims of communist rebel purge in the 1980s.

Medina also gave travel clearances to former Bayan Muna Rep. Satur Ocampo, Randall Echanis and Rafael Baylosis, who appeared before the court earlier in the day after missing his arraignment in July last year.

The Tiamzons, however, could not walk out of detention yet because the courts handling their other cases have yet to approve their motion for bail.

They are also facing charges of kidnapping with serious illegal detention at the Quezon City Regional Trial Court branch 216, murder and frustrated murder in Laoang, Northern Samar and illegal possession of explosives in Toledo City, Cebu.

“We’re still waiting for feedback from these courts,” Olalia said.

The Tiamzons and Silva are considered consultants by the National Democratic Front, the political arm of the Communist Party of the Philippines, which will resume talks with the government on August 22. — (RSJ, GMA News)

August 12, 2016 0 comments
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Srilanka and Norway

Norwegian PM to undertake official visit in Sri Lanka

by Nadarajah Sethurupan August 11, 2016
written by Nadarajah Sethurupan

Statsminister_Erna_Solberg__HNorwegian Prime Minister Erna Solberg, who is already in Sri Lanka on a private visit, will have an official Programme at the invitation of the Government on Friday and Saturday, The Foreign Affairs Ministry said in a statement today.

It said Prime Minister Solberg will be received at the Presidential Secretariat on Friday and accorded a guard of honour and gun salute following which she will hold bilateral discussions with President Maithripala Sirisena.

She will also meet Prime Minister Ranil Wickremesinghe, Foreign Affairs Minister Mangala Samaraweera and Opposition Leader R. Sampanthan.

On Friday evening, Prime Minister Solberg will deliver the Lakshman Kadirgamar Memorial Lecture-2016 at the Lakshman Kadirgamar Institute.

The Norwegian Premier will visit a Fisheries Harbour project in Mirissa and meet representatives of a Harbour development committee on Saturday. She will also visit the Galle Fort.

(N.Sethu)

August 11, 2016 0 comments
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Economics

Avinor looks to Asia potential

by Nadarajah Sethurupan August 11, 2016
written by Nadarajah Sethurupan

csm_OsloAvinor, the organisation responsible for managing 46 Norwegian airports, including the country’s busiest air gateway in Oslo, has prioritised efforts to improve air connections between Norway and Asia, pointing to potential benefits for both passengers and freight.

As part of this strategy, Avinor appointed Ulv Elbirk in a consultancy role as director Asia route development in a move effective as of August 1.

Based in Hong Kong, he is tasked with attracting the launch of direct air routes from big city destinations in Asia to Oslo in particular.

“Norway is probably one of the last under-served markets in Europe. With vast inbound potential routes, Oslo can become a goldmine for especially Asian carriers,” Elbirk remarked.

The belief is that the Norwegian business community would benefit from quicker access to the major cities of Northeast Asia in particular, and that there exists significant demand for improving transport links and cut the time of travel between Norway and Asia.

This is certainly the case for the huge amounts of seafood exports that are flown out of Norway to Asian destinations.

“Today, much salmon is trucked to other European airports, but for an Asian carrier it can be a vital boost to the route profitability when the whole cargo space on a passenger aircraft is guaranteed full on every flight no matter the season,” a statement from Avinor observed.

August 11, 2016 0 comments
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Politics

Norway has little to lose from having the UK in EFTA

by Nadarajah Sethurupan August 11, 2016
written by Nadarajah Sethurupan

Open_Europe_Norway-EUIn an interview with Norwegian daily Aftenposten, Elisabeth Vik Aspaker, Norway’s Minister for European Economic Area (EEA) and EU Affairs said that:

“It’s not certain that it would be a good idea to let a big country [such as the UK] into this organisation [the European Free Trade Association]. It would shift the balance, which is not necessarily in Norway’s interests.
This was then picked up by The Guardian and other UK outlets suggesting that Norway might veto the UK’s membership of EFTA. The comments are quite strange and somewhat premature given the early stage and sensitive nature of these negotiations.

The first point to make, however, is that it is not even clear if the UK will want to join EFTA (or re-join, as the UK was previously an EFTA member before it joined the EU in 1973). We, along with others, have recommend that it should – partly as a sign of continued engagement with Europe and partly as would be a quick way to secure a free trade agreement with Switzerland and Norway which account for 6% of the UK’s total trade (not a huge amount but together they account for a similar amount of UK trade to China).

Little changes if the UK joins EFTA
Looking at the rest of the Aftenposten article, Aspaker’s concerns seem to relate to the reduced weight of the EEA contingent within EFTA. As a reminder, EFTA is the agreement that governs relations between four countries: Switzerland, Norway, Iceland and Liechtenstein. It has nothing directly to do with the EU. The UK joining EFTA would not automatically mean it would also have to join the EEA. Likewise, the UK’s membership of EFTA would not impact on the make-up of the EFTA Surveillance Authority or EFTA Court, the supranational institutions which police the EEA Agreement but which do not apply to Switzerland.

So if the UK were to join EFTA, what would actually change in practical terms? Not all that much from what I can see. Yes, the UK would be by far the largest member and would therefore dominate intra-EFTA relations. But this would just mean the relations between the UK and the other four states, a small group and not of any great importance to any of its members (their respective relations with the EU are far more important).

One area of concern which was cited by both Aftenposten and The Guardian is that of trade, i.e. that if the UK were to join, EFTA’s other trade agreements, for example with the likes of Canada or Chile, would have to be renegotiated. However, both incorrectly suggest the UK would automatically get access to EFTA trade agreements. This is not the case, as each state has to sign up to these agreements individually (it is not a customs union after all) and the trade agreements are often conducted sector by sector with every EFTA member not necessarily signing up to every sectoral agreement.

For example, EFTA members have different agricultural policies/tariffs/quotas so they may not take the same approach. It is therefore unlikely that the UK would cause any problems for the existing EFTA agreements, and even future agreements can be agreed on slightly separate terms if needs be.

Concerns over the UK joining the EEA are more understandable
One area where it would make more sense for Norway to be concerned by the UK joining EFTA would be if it also joined the EEA and through that impacted on its relationship with the EU, which on the whole is more harmonious than that of the UK. But this would not happen merely by the UK joining EFTA. It would only have a say on EEA related issues if it were actually in the EEA. Decisions between EFTA’s EEA contingent are taken by consensus, so if one country wanted to stall the adoption of EU regulations then it could do so. But as we noted in our recent EEA briefing, this would trigger retaliation from the EU and would mean membership of the single market in that area would lapse until the regulation was approved.

One could imagine a situation where the UK were to block the transposition of new EU financial regulations, thereby triggering the exclusion of the entire EEA from the single market in financial services until it agreed to implement the regulation. But even if the UK joined EFTA, Norway would still have to approve it joining the EEA. It has been suggested (for example by Bruno Waterfield of The Times) that Norway actually wants the UK to join the EEA. They might, although I am not so sure about this for the reasons stated above. But even then, threatening to veto UK membership of EFTA would be a strange way to achieve this objective. Not least because the UK would have first have to join EFTA in order to join the EEA.

Norway can gain from the UK joining EFTA
The final point to make is that, arguably, Norway would gain from the UK joining EFTA. Specifically, the UK accounts for around 16% of total Norwegian trade – more than all the other countries outside of the EU with which it has trade agreements combined. As such, it would be a quick way for Norway to secure a free trade agreement on good terms with a key trading partner. Furthermore, it could also help boost EFTA’s profile and leverage in future trade negotiations (although for the reasons cited above this should not be overdone).

All in all, this is a hard one to understand both in terms of substance and strategy from the Norwegian minister.

(openeurope)

August 11, 2016 0 comments
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Crimes

Zaventem Airport bomb scare was a false alarm

by Nadarajah Sethurupan August 11, 2016
written by Nadarajah Sethurupan
epa05285708 First passenger arrive for check-in at Brussels airport in Zaventem, Brussels, Belgium, 01 May 2016. The departure hall was partially reopened about six weeks after Islamic State suicide bombers killed 16 people in blasts that gutted parts of the building.  EPA/LAURENT DUBRULE

epa05285708 First passenger arrive for check-in at Brussels airport in Zaventem, Brussels, Belgium, 01 May 2016. The departure hall was partially reopened about six weeks after Islamic State suicide bombers killed 16 people in blasts that gutted parts of the building. EPA/LAURENT DUBRULE

Zaventem airport in Brussels experienced a bomb scare on Wednesday evening as two inbound Scandinavian airline planes (SAS) – from Oslo and Arlanda airports – were flagged as carrying explosives.

The two SAS flights were searched but nothing was found and the planes were cleared to resume operations.

It is yet unknown where the intelligence on explosives came from, but Belgian air-traffic control had contacted the SAS pilots to alert them about the situation. Belgium’s federal prosecutors were unable to assess the seriousness of the threat and authorities prepared for the worst before the planes landed.

Zaventem took “several measures.”

At least one of the planes was allowed to land, with passengers disembarking safely. An Air Arabia Moroc flight was diverted to Toulouse for unknown reasons. There were reports of other diversions.

Belgian journalist described how a pilot on his flight warned the passengers there may be a bomb on board 20 minutes before landing.

The same airport was attacked in March, killing 16 people in a coordinated attack against Brussels.

(Belga, Wall Street Journal, VRT,)

August 11, 2016 0 comments
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Economics

Norway’s Yara acquires Tata Chemicals’ urea business for $ 400 million

by Nadarajah Sethurupan August 10, 2016
written by Nadarajah Sethurupan

1458733889-6019Norwegian chemical company Yara International ASA has entered into an agreement to acquire the Tata Chemicals Ltd’s Babrala urea plant and distribution business in Uttar Pradesh for $ 400 million (about Rs 2670 crore) on a debt and cash free basis, including normalised net working capital.

“This acquisition represents another significant step in our growth strategy, creating an integrated position in the world’s second-largest fertiliser market. India has strong population growth and increasing living standards, and significant potential to improve agricultural productivity,” said Svein Tore Holsether, president and chief executive officer of Yara.

The plant has an annual production of 0.7 million tonnes ammonia and 1.2 million tonnes urea, and generated revenues and EBITDA of respectively $ 350 million and $ 35 million in the financial year ended March 31, 2016. The plant was commissioned in 1994, and is the most energy efficient plant in India, with energy efficiency on a par with Yara’s best plants.
“We are impressed with the world-class operations we have seen in Babrala. The workforce is committed to high HESQ standards, and has a solid safety track record. This well operated plant and its highly skilled employees will make an excellent addition to Yara’s global production system,” said Holsether.

Yara has operated in India since the 1990s, focusing in recent years on premium product sales in the West and South of the country, delivering strong volume growth and margins well above Yara’s average for the region.

“Our growth in India can be further accelerated with this acquisition, creating a larger market footprint for Yara and enabling increased premium product sales in particular. We will place great emphasis on successful integration of the operations, and will put in place an integration team consisting of highly experienced Tata Chemicals and Yara employees, the latter from both our existing India operations and our regional management,” said Terje Knutsen, SVP and Head of Yara Crop Nutrition.

The agreement will be subject to regulatory approvals and sanctioning by the relevant courts in India, a process which is expected to take 9-12 months after which closing of the transaction can take place.

(business-standard)

August 10, 2016 0 comments
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Economics

Skanska Invests NOK 360M, about SEK 360M, in Residential Development Property in Oslo, Norway

by Nadarajah Sethurupan August 10, 2016
written by Nadarajah Sethurupan

Skanska_LobbyLogodetailSkanska (STO:SKAB) has bought the development property Sinsenveien 51-53 of Axer Eiendom AS. The net investment for residential purpose amounts to NOK 360M, about SEK 360M, and will be recorded by Skanska Norway in the third quarter 2016.

The property is located in the attractive residential area Løren/Sinsen in central Oslo, Norway, and covers 14,000 square meters. Skanska’s long-term goal is to develop 300-350 apartments in the project, which is planned to be implemented in four phases from 2019 and onwards.

The investment is the single largest Skanska has made in a development property in Norway since 2000.

Skanska Norway focuses on construction and civil engineering operations. The unit has approximately 4,000 employees. In 2015, Skanska Norway reported revenue of about SEK 12 billion. In Norway, Skanska is also active in development of residential, commercial properties and public private partnerships (PPP) projects.

The information provided herein is such as Skanska AB is obligated to disclose pursuant to the EU market securities act (EU) no. 596/2014.

Skanska is one of the world’s leading construction and project development companies, focused on selected home markets in the Nordic region, other European countries and North America. Supported by global trends in urbanization and demographics, and by being at the forefront in sustainability, Skanska offers competitive solutions for both simple and the most complex assignments, helping to build a sustainable future for customers and communities. The Group currently has 43,100 employees in selected home markets in Europe and North America. Skanska’s sales in 2015 totaled SEK 155 billion.

August 10, 2016 0 comments
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Politics

British Embassy in Norway publishes guidance for bereaved UK nationals

by Nadarajah Sethurupan August 9, 2016
written by Nadarajah Sethurupan

Screen Shot 2016-08-09 at 14.41.37The British Embassy in Norway has published fresh guidance for the friends and relatives of UK nationals who have died in the Scandinavian country.

The online document contains advice about death reports and certificates, transportation of the deceased back to the UK, as well as information about inquests.

It also has links to travel advice documents and victim support agencies.

The move comes in the months following a fatal helicopter crash near Bergen, which killed 13 people.

One of the passengers on board was 41-year-old Iain Stuart, a father of two from Aberdeenshire.

The aircraft was returning from a North Sea oilfield.

A guidance note accompanying the document says: “The death of a relative or a friend can be a traumatic experience. When the death occurs overseas, family and friends in the UK can feel additional distress as they are unfamiliar with foreign procedures and perhaps are unable to communicate in the language of the country where the death occurred.

“You may be uncertain about what to do next or who to contact for advice. These notes are designed to help you through the practical arrangements you will need to make.”

August 9, 2016 0 comments
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Sports

Norwegian journalist outshines Usain Bolt by rapping at press conference

by Nadarajah Sethurupan August 9, 2016
written by Nadarajah Sethurupan

1364078320702It is not often that Usain Bolt is outshone at his own press conference but a Norwegian radio journalist and freestyle rapper managed it in Rio on Monday with a performance which left the Jamaican in stitches.

It is not often that Usain Bolt is outshone at his own press conference but a Norwegian radio journalist and freestyle rapper managed it in Rio on Monday with a performance which left the Jamaican in stitches.

After the usual questions about his rivals and the sport’s doping problems, Nicolay Andre Ramm from NRK radio took the microphone.

“I don’t really have a question, I just want to say I really love you man,” he began, before unleashing his party piece.

“I just want to say, Usain Bolt, you’re my favourite guy, I’m loving your moves and your feet and your style. I hope that you win, I hope that you get the gold ring.”

Bolt, filming it on his phone, loved every minute.

“I was scared to hell,” Ramm said afterwards, adding that he often performs raps about Norwegian athletes on his radio show.

It may well have been the best performance of the Games so far.

(bt)

August 9, 2016 0 comments
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Africa and Norway

NMB Bank to benefit from foreign shareholders planned investments

by Nadarajah Sethurupan August 9, 2016
written by Nadarajah Sethurupan

UnknownZimbabwe’s NMB Bank says it expects to benefit from the planned consolidation of African investments by its major shareholders, Netherlands development bank FMO, Norfund of Norway and Dutch multinational bank Rabobank.

The three development institutions, which already have an extensive portfolio of investments in several financial institutions across Africa, plan to pool their investments on the continent under a new investment vehicle to be called Arise.

FMO boosts of a committed portfolio of $10.3 billion spanning 85 countries while Norfund has a portfolio of approximately $1.8 billion, 53 percent of which is in sub-Saharan Africa.

Rabobank is a global leader in food and agri financing. It also holds minority stakes in five banks — Zambia’s Zanaco, Tanzania’s NMB which is the country’s largest bank, BPR in Rwanda, BTM in Mozambique and Uganda’s DFCU.

In a joint statement, the three financial institutions said that the new venture would strengthen and develop effective inclusive financial systems in Africa with a long-term perspective.

Banco Montepio, a Portuguese financial group with banking investments in Africa, is also expected to join the partnership in the near future.

Commenting on the partnership NMBZ chief executive Benefit Washaya said the partnership would enable NMBZ to benefit from a wider network of other African banks that are part of the group.

“For NMBZ, the change will offer several opportunities. The bank will become part of a large pan‑African Bank network. The presence of the new foreign shareholders will assist NMBZ in its quest for much needed lines of credit,” he said.

The transaction is still subject to regulatory approvals.

Washaya made no mention of the expected shareholding structure after the transaction.

Norfund chief executive Kjell Roland said the establishment of Arise would contribute to the financial sector in Africa on a scale far beyond what Norfund could achieve on its own.

FMO chief executive Nanno Kleiterp said Arise would be able to leverage the extensive banking knowledge and valuable agri-banking expertise of its founding partners.

“This partnership will increase the availability of financial services to small and medium enterprises. Above all, it will allow the people in Sub-Saharan Africa to empower themselves by getting bank accounts and taking loans and hence building a better life for their families,” he said.- The Source

August 9, 2016 0 comments
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Media Freedom

Norway’s TV 2 seeks state subsidies for domestic content

by Nadarajah Sethurupan August 8, 2016
written by Nadarajah Sethurupan

dbstatiNorwegian commercial broadcaster TV 2, which belongs to Danish company Egmont, is seeking state support to continue the general broadcasting obligations that it has been carring out since 1992, according to newspaper Dagbladet on its website. It said TV 2’s CEO and chief editor Olav T Sandnes considers this compensation. Dagbladet said it is completely out of step with today’s media developments to think that a commercial television channel needs state funding to keep carrying domestic news, culture and the Norwegian language.

The matter arose when it emerged that TV2 is not claiming public information liability status. Dagbladet said this has come as a surprise to Minister for Culture Linda Hofstad Helleland, who said this is a result of changing technology and media habits. It said the right to information via cable TV is less important than it used to be. It shows that the commercial and economic advantages of being a general, commercial broadcaster are reducing as years go by.

Dagblet said TV2 is a media company rather than a TV channel. It said the battle for the news audience is not between TV2 and NRK’s bulletins, but runs on the internet.

Dagbladet said that in winter, a parliamentary majority had agreed that TV2 should continue as a general broadcaster, and asked the Ministry of Culture to look into providing state aid. It said the existing agreement with TV 2 expires at the turn of the year. The media plurality committee will publish its assessment in March 2017, it added.

August 8, 2016 0 comments
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Srilanka and Norway

Norges wealth fund increases stake in Dialog, EPF reduces

by Nadarajah Sethurupan August 8, 2016
written by Nadarajah Sethurupan

Dialog010Norges Bank has increased its shareholding in Dialog Axiata PLC to 96.6 million shares as of end June, data filed with the Colombo Stock Exchange shows.

Norway’s Norges Bank, which manages the world’s biggest sovereign wealth fund, is now the fifth biggest shareholder in telecommunications company Dialog with a 1.19 percent stake.

The shareholding is up from 28.7 million shares as of end September, 2015.

EPF has reduced its position from 193.8 million shares in March to 180.8 million shares by end June. EPF now has a 2.2 percent stake and is the second largest shareholder.

Norges Bank Investment Management has close to 900 billion dollars invested in global assets, a fund built from the country’s oil revenues.

August 8, 2016 0 comments
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