the Number of employed in the private sector in the united STATES rose by 216.000 people in november, showed figures from ADP Employer Services on Wednesday. According to Bloomberg, it was expected an increase of 170.000. At the same time, however, was also October’s revised down from 147.000 to 119.000.
In addition, did the Chicago PMI a jump in november, but none of the two news led to greater impact on the stock exchanges in New York.
While ten of the ten most traded shares on the Nasdaq fell, and all fell between one and two per cent, it was almost the reverse on the NYSE, where nine of the ten most traded shares ended up.
the Dow Jones ended the day up a marginal 0.01 per cent to 19.123,38 and increased it to 5.5 per cent in november.
S&P 500 fell 0,27 percent to 2.198,81, but ended nevertheless with an increase of 3.4 per cent in november.
the Nasdaq fell 1,05% to 5.323,68 and ended the day up 2.6 per cent in november.
Banks went up Wednesday, at higher interest rates and a near 100 percent probability that there will be a renteheving in the united STATES the 14. December.
Bank of America soared 4.5 percent and J. P. Morgan rose 1.6 per cent. Wells Fargo rose 2 percent and Citigroup ended the day up 1.6 per cent.
oil prices bounced up on the OPEC agreement to cut production. Lettoljen rose 7.7 per cent to 49,01 dollars and Brent ended up 8.1 per cent to 51,5 dollars.
oil-related stocks coasted up and dominated the winner list with the shares, which rose 20 – 40 per cent. The NYSE Arca Oil Index rose 5.5 percent.
Heavy shares of Halliburton ended the day up 11.1 per cent, while Marathon Oil narrow up the whole of 20,1 per cent. Chevron rose 2 percent and ExxonMobil ended the day up 1.6 per cent.
the gold price fell 15,9 dollars to 1.174,9 dollars.
oil prices jumped immediately over two dollars to over to 50.1 per barrel after Iraq’s oil minister Jabbar al-Luaibi stated to Bloomberg that there will be agreement on a cut. It fell later back to around 50 dollars a barrel.
– There is unanimous agreement in the Opec, he said, according to Bloomberg before the summit in oljekartellet started Wednesday. He added that the size of the produksjonskuttet not been determined yet.
the oil market has for weeks been waiting in suspense on whether oljekartellet Opec to get in place an agreement to cut their collective oil production when the member countries meet in the austrian capital Vienna on Wednesday.
Russia “willing to cut”
– Russia is willing to cut oil production and to cooperate with Opec, says Iran’s oil minister Bijan Namdar Zanganeh in advance of the meeting, according to Bloomberg. He says this agreement came after Iran’s president Hassan Rouhani spoke with his Russian counterpart Vladimir Putin recently.
Opec must in the first instance, agree on how the benefits their cut before oljekartellet agree on how oil producers outside Opec, with Russia in the lead, will cut their production.
Optimistic
Oljekartellet, with Saudi Arabia and Iran in the tip, has for months negotiated for an agreement to cut kartellets total oil production to push oil prices up and reduce the profit in the market.
In advance of the meeting they spoke who were present oljeministrene with journalists about their prospects of oljetoppmøtet, and seemed unisont optimistic.
“We have not finalized the agreement, but we are optimistic,” says the iranian oljeministeren Bijan Zanganeh, according to the american news channel CNBC.
the Market responded to the optimism by sending oil prices up over two and a half dollars fatat on Wednesday morning, when the ministers started the meeting was the price of a barrel nordsjøolje for immediate delivery near 50 dollars a barrel.
– Much remains
We should make earnest of our desire to get on space Algae-agreement, ” says Saudi Arabia’s oil minister Ali al-Falih, and states that he hopes that oil producers outside of Opec should cut 600,000 barrels per day. He refers to a preliminary agreement that was negotiated when the Opec countries met in the Algerian capital earlier in the year.
The saudi oljeministeren is somewhat more measured in their comments than their seemingly more optimistic colleagues, but istemmer optimism related to the Russia-cuts.
We are approaching, but much remains to agree on when it comes to fairly distribute the produksjonskuttene. I hope we get it today, he says, according to the news service. He also adds that all kuttløsninger must include countries within and outside Opec.
– the Russians are willing to work with us. There are good chances for an Opec agreement, ” he says, and adds that it will take “all 2017 to get where we want”.
The thorny point
Within Opec characterizes the political opposition, negotiations about the produksjonskutt, and it is particularly Iran and Saudi Arabia which stands as the rake contradictions. The solution seems to be that Saudi Arabia accounts for the major cut in its oil production, while Iran be excluded from the cuts.
shi’ite Iran and sunnimuslimske Saudi Arabia has for many years been in intense conflict with each other. The two oil-rich countries, both founding members of Opec, have been enemies since the iranian revolution in 1979, and the conflict between the two countries has heated up in the last year.
– The difficult point is how the cuts should be allocated within Opec. I’m relatively optimistic, ” says Al-Falih, according to Bloomberg.
Not difficult
Furthermore, writes Bloomberg that Iraq’s oil minister states that the cut will apply in the six months ahead and be monitored by a committee. Also algeria’s oil minister says the country wants to cut its oil production.
Venezuelan oil minister says according to the news service that it “will not be difficult” for Opec countries to land a deal and that Nigeria, Libya and Iran will be except for the cut. Iran’s oil minister confirms that the country should be excluded from the cuts, reports Bloomberg.
Nigeria and Libya has seen its oil production fall dramatically in recent years as a result of political instability. Iran has on its side set its output muted in the years as a result of sanctions linked to its nuclear program. After the agreement to reduce the sanctions against Iran in exchange for to build down the country’s nuclear program were concluded in the last year have Iran’s oil production increased and the country has constantly rejected all of the claims to reduce the production again.
the Number of employed in the private sector in the united STATES rose by 216.000 people in november, showed figures from ADP Employer Services on Wednesday. According to Bloomberg, it was expected an increase of 170.000. At the same time, however, was also October’s revised down from 147.000 to 119.000.
In addition, did the Chicago PMI a jump in november, but none of the two news led to greater impact on the stock exchanges in New York.
While ten of the ten most traded shares on the Nasdaq fell, and all fell between one and two per cent, it was almost the reverse on the NYSE, where nine of the ten most traded shares ended up.
the Dow Jones ended the day up a marginal 0.01 per cent to 19.123,38 and increased it to 5.5 per cent in november.
S&P 500 fell 0,27 percent to 2.198,81, but ended nevertheless with an increase of 3.4 per cent in november.
the Nasdaq fell 1,05% to 5.323,68 and ended the day up 2.6 per cent in november.
Banks went up Wednesday, at higher interest rates and a near 100 percent probability that there will be a renteheving in the united STATES the 14. December.
Bank of America soared 4.5 percent and J. P. Morgan rose 1.6 per cent. Wells Fargo rose 2 percent and Citigroup ended the day up 1.6 per cent.
oil prices bounced up on the OPEC agreement to cut production. Lettoljen rose 7.7 per cent to 49,01 dollars and Brent ended up 8.1 per cent to 51,5 dollars.
oil-related stocks coasted up and dominated the winner list with the shares, which rose 20 – 40 per cent. The NYSE Arca Oil Index rose 5.5 percent.
Heavy shares of Halliburton ended the day up 11.1 per cent, while Marathon Oil narrow up the whole of 20,1 per cent. Chevron rose 2 percent and ExxonMobil ended the day up 1.6 per cent.
the gold price fell 15,9 dollars to 1.174,9 dollars.
just over two years have passed since Saudi Arabia decided to try to squeeze the most possible us shale oil out of the oil market. The aim was also to overtake arch-rival Iran. Despite protests from other OPEC countries decided the world’s largest oljeeksportør to produce for the full, no matter how low the price fell.
In september, warned Saudi Arabia’s retreat. The kingdom gave notice that it was willing to cooperate with other OPEC countries cut production, in the hope of higher price.
3rd-party-bio
the Country had shot itself in the foot. The royal family miscalculated the effects of priskrigen on their own income. The country now experience a severe budsjettkrise.
the Member states of the Organization of oil-exporting countries to reduce production by about five per cent. It is not impressive. But Saudi Arabia’s helomvendig removes a good deal of fear from the oil market.
today, it was agreed the most difficult – how produksjonskuttene to be distributed. Saudi Arabia agrees to take the largest produksjonskuttet. At the press conference, it was also stated that Russia will also reduce its production.
When oil producers are similar in Greece
oil prices bounced in the air as signals of an appointment was stronger throughout the day.
It has great significance for Norway, although it is too early to say anything about the effects on the price of oil on the slightly longer term.
If the finance minister Siv Jensen not had so many other concerns now, she would perhaps have danced for joy. The Norwegian state’s revenues from petroleum activities have fallen from 345 billion in 2013 to 132 billion in 2016, according to the latest estimates.
For Saudi Arabia, it is much more serious.
Estimates of the deficit of the state budget in Saudi Arabia varies between 13 and 20 per cent of GDP. It means that the deficit may be larger than in Greece when eurokrisen broke out in 2009-2010. And the government pays no longer all their bills, again as in Greece.
Kongehusets future may be on the game
A key difference from Greece consists of: the royal family is still creditworthy. A few weeks ago borrowed Saudi Arabia for the first time money. A bond issue of 17,5 billion dollars, the equivalent of just over 150 billion, was booked without any problems.
But with the continued budget deficit in the verdensrekordklassen, would national debt after a few years you could be dangerously great. Some could put a question mark on how much debt the country really can withstand.
Therefore, conducting the state now budget cuts that get sparepolitikken in Europe, even in Greece, to serve as a gentle breeze.
Then we come to the core. For Saudi Arabia, this is not only an economic drama. It is really about the political stability in the country.
Oil price is politics. Especially in Saudi Arabia.
Support for the anakronistiske the royal family rests on a very generous welfare state, without equal in the world. It is this welfare state – subsidies to kongehusets minions – who are now in danger.
Why didnít the masses to continue the uncompromising priskrigen. Also arch-rival, Iran, know the pain from low oil prices.
Such were the member countries of the OPEC again agreed to cooperate.
the united STATES now means more than OPEC
the Question is what long-term effect of the renewed cooperation in the OPEC can have on the price of oil. In the united STATES, there has taken place a oljerevolusjon. Thanks to skiferoljen was the United states ‘ oil production has doubled in just five years, to about the same level as in Saudi Arabia.
Saudi Arabia has underestimated how quickly skiferoljeprodusentene have managed to cut their production costs. Production has not fallen nearly as much as Saudi-Arabia and many others had expected. Why was oljeprisfallet so powerful. In January the price was a short period of time under 30 dollars the barrel. .
the oil market is permanent changed. The point is that it is much easier and cheaper for the manufacturers of skifterolje to turn production off and on than it is for traditional oil producers.
It adds a ceiling for how high oil prices can go in the next couple of years. At an oil price of 60 dollars a barrel, the production of shale oil again go for full. Then there will be, in each case for a period of time, difficult to push the price higher.
the Knowledge of this makes prisoppganen in the course of Tuesday really was moderate. The current price, at 50 dollars, is lower than it was at the end of september.
A new – but short – golden age?
however, We have not seen the full effects of the low oil prices of recent years. Investments in new, traditional oil fields fall like a stone. At the same time goes the old fields out of production. We are talking about large quantities.
It is not at all certain that the production of shale oil can fill this hole. Therefore, it is not impossible that we about a couple of years again, in a shorter period of time, can get an oil price of 100 dollars.
But the chance that such a price will last, drops with weaker growth in consumption and an increased supply of renewable energy. Cheap energy may be the new normal once we pass the year 2020.
For the royal family in Saudi Arabia is the world is never as it once was.
on Wednesday afternoon came the final confirmation that Opec will cut oil production.
When had the price of oil gone up and down like a jojo, from well below 48 dollars a barrel in the morning to over 51 dollars a barrel and back down again at 50. But after the news that Opec had failed to agree, rose again to over 51 dollars a barrel.
Despite much disagreement about byrdefordelingen, therefore, Opec is now cutting production by 1.2 million barrels per day, and puts a ceiling of 32.5 million barrels per day from 1. January.
– There are historic pictures of this, ” says Pareto analyst Trond Omdal to E24.
It is eight years since the last cut in production, and last were the not the cuts, per country, ” he says.
Opec confirms cut
These cuts the most
This is the six member states who sacrifices most of its own production, according to Opecs own calculation:
Saudi Arabia cuts 486.000 barrels per day to 10,06 million barrels per day
Iraq cuts 210.000 barrels of oil per day to to 4.35 million barrels per day
United Arab Emirates cutter 139.000 barrels per day to 2,87 million barrels per day
Kuwait cuts 131.000 barrels per day to 2,71 million barrels per day
Venezuela cuts 95.000 barrels per day to 1,97 million barrels per day
Angola cuts 80.000 barrels per day to 1,67 million barrels per day
An important question is whether the countries actually come to implement the cuts. The organization has established a committee of three ministers to oversee that the members adhere to the plans. – I expect good discipline in Opec, ” says Omdal.
BENEFITS CUTS: This is the Pareto-analyst Trond Omdals table of how the Opec cuts are allocated between the various manufacturers. Indonesia is no longer the Opec member.
Photo: Trond Omdal, Pareto
Iran gets boost
Iran is the only country that gets to increase its production after agreement. The land will get increase by 90,000 barrels per day to 3.8 million barrels per day.
OPEC-tops talked the price of oil up before skjebnemøte
This is very close to flat five per cent cut, says Omdal about the numbers.
But Saudi Arabia, Abu Dhabi (united arab emirates) and Kuwait have given the most. Saudi Arabia has given in to Iran, and more or less given them fripass, ” he says.
Iran gets increase the production its something out from Opecs calculation, but do not put a ceiling on the production of 3,975 million barrels, as it had claimed, says Omdal.
Also, Nigeria and Libya don’t have to cut, something that was expected. Countries have had production problems due to war and unrest.
Iraq released
the Cuts were largely in line with the Omdal had seen for themselves in advance, with Iraq as one exception.
It surprised a tiny bit is that Iraq has not received any special treatment, ” says Omdal.
But Opecs calculation does not go all the way up with the roof the organization has set itself on to 32.5 million barrels per day, according to the Pareto-analyst.
– When I add this in my calculation I come to the 32,7 million barrels per day, ” he says.
It is strange, he adds.
the Days to come will provide ample opportunity for the analysts to dive into the numbers and come up with their interpretations.
Russia cuts
In addition to Opecs cuts have Russia and other non-members also committed themselves to cut 600,000 barrels per day in production, which in the case can contribute to strengthening oil prices. Russia should, according to the Opec cut of 300,000 barrels per day of this.
But Motifs can not convince before he can see which country it is, and that they are really committed.
– It is not very specific, ” he says.
” We know that some countries, such as China, the fall in production. I don’t know if they just enter it in the calculation. Currently we know only about Russia, ” he says.
Other Opec cut
Also the smaller producers in Opec contributes to the agreement according to their ability. This is the Opec countries that will cut at least:
Algeria cuts 50,000 barrels per day to 1.04 million barrels per day
Qatar cut to 30,000 barrels per day to 618.000 barrels per day
Ecuador cuts 26.000 barrels of oil per day to 522.000 barrels per day
Gabon cuts to 9,000 barrels per day to 193.000 barrels per day
Opecs press conference on Wednesday afternoon was delayed for an hour, uncertain of what reason, but eventually came the news the markets had expected.
was scheduled to Opecs secretary general Muhammad Sanusi Barkindo meet the press at 16 together with Qatars energy minister Mohammed Bin Saleh Al-Sada, who is the president of the 171. The Opec meeting in Vienna.
– We are agreed, ” says Al-Sada at the press conference.
– We have come to an understanding that the market must rebalanseres. The to rebalance the market requires bold decisions from Opec, with support from some important countries outside Opec, he said.
Iran
Iraq
Kuwait
Saudi-Arabia
Venezuela
Qatar
Libya
United arab emirates
Algeria
Nigeria
Ecuador
Gabon
Angola
Indonesia walked out of Opec in 2009, restored the membership in January of this year, but is now out again. Gabon went out of Opec in 1995, but went back in July of this year, according to Opec.
Al-Sada confirms that member countries will cut oil production by 1.2 million barrels per day from 1. January. The ceiling in the Opec is on the to 32.5 million barrels per day, ” he says.
Russia cuts also
Of the Opec countries, it is Saudi Arabia that is taking the biggest cut, on 486.000 barrels per day, said Qatars energy minister, who did not go more into the distribution.
Also producers outside Opec will cut production by 600,000 barrels per day. Of this, Russia will cut of 300,000 barrels per day in the reduction. Russia has previously said that it may freeze the production, but would not cut.
Russia supports our point of view, even if the former would just freeze. They bind themselves now to more than that, and decreases with 300,000 barrels per day. Other countries bind themselves too, ” says Al-Sada.
A committee of ministers from Kuwait, Venezuela and Algeria will work together with Opecs secretariat to ensure that the Opec members actually carry out the cuts.
Indonesia, who walked out of Opec in 2009 and again in January of this year, has been suspended from Opec, according to Al-Sada. The reason is that the country is nettoimportør of the oil and can’t participate in the organization’s decision about a cut, ” he says.
oil prices rise
the News from Vienna have affected both currencies, oil prices and stock markets.
the price of oil is up over seven percent in the course of the day, and trades, to around 51 dollars a barrel, from below 48 dollars a barrel in the morning hours.
This is today’s leaks from the Opec meeting
the Rise in oil prices has led to that the Norwegian krone has strengthened against both the dollar and the euro in the course of the day. Wednesday afternoon is a dollar worth 8,51 million.
According to Bloomberg cut Opecs production to 32.5 million barrels per day, but the details are somewhat unclear. The agreement will also involve cuts of 600,000 barrels a day from countries that are not in Opec, writes the news agency.
Arguing about the distribution
Four years of oil prices above usd 100 per barrel from 2011 led to major investments in new production, and it has led to oversupply in the oil market.
HIGHER PRICE: So has the spot price of Brent-oil, developed on Wednesday, after a flood of rumors and reports that the Opec will agree on an agreement about produksjonskutt.
Photo: Infront
in the Autumn of 2014 began the Opec with Saudi Arabia in the tip to produce more, among other things, to oust us shale oil. The price fell as sharply, and reached earlier in the year, a bunnivå below 30 dollars a barrel, the lowest level since the early 2000s.
Opec countries was in september agreed to cut production to between 32.5 million and 33 million barrels per day. The distribution of the cuts between the countries has been the central theme in the negotiations since.
Among other things, Iran and Iraq, both of which are about to increase production significantly, been skeptical of the to limit or cut their production.
higher oil prices will increase the incomes of oil producers both in the middle East, the USA and Norway, and make them better able to finance investments in future production.
Fear skvis
In the long term there is a risk of oil alert. If the sharp fall in investment in the last two years continues, it can lead to that the production is much lower than the demand around 2020, according to The international energy agency, IEA.
IMPORTANT MEETING: the price of oil has risen much Wednesday, on rumours that Opec countries would agree to cut oil production. This is Saudi Arabia’s oil minister Khalid Al-Falih.
Photo: Ronald Zak AP
Then the prices can be sky-high.
the Case continues below the advertisement.
Until further notice, it is still too much oil in the market, and if the price were to rise much from current levels, says America’s oil producers are ready at the pumps.
most oil producers in the middle East have large budget deficit and must borrow money to finance its expenditure.
They therefore want a higher oil price, and that they can get to by cutting production.
Saudi Arabia will need around 92 dollars a barrel to balance its budget, while Kuwait, which is the best way in the middle East, needs an oil price of 57 dollars a barrel to get in balance, according to analysts at Wood Mackenzie.
oil income constitutes 90 percent of the revenue to the saudi government, and these fell by 120 billion dollars, or 54 per cent between 2014 and 2015, according to Wood Mackenzie.
OPEC-tops talked the price of oil up before skjebnemøte
Several questions remain
A number of questions remain after Opecs agreement. One of them is whether the Opec countries will do as they have said, or whether they will fall for the temptation to produce more than they have promised.
another question is how quickly american manufacturers can step up their production of shale oil and replace the barrels as Opec cuts.
the Cut may namely be offset by increased american production in the course of half a year’s time, and in addition it will be able to put a damper on global demand, warned IEA chief Fatih Birol earlier this month.
We can well see, with any delay of six or nine months, that the american shale oil will flow out on the market, ” said Birol at a press conference earlier in november.
ASKER: Nine years after the Prox Dynamics was established, the company is now sold.
The Norwegian droneprodusenten is sold to us FLIR Systems for 132 million dollars, or 1,13 billion. The agreement was formally concluded on Wednesday at Prox Dynamics-the head office at Hvalstad in Asker municipality.
There are two technology leaders that are now joining together. For us this is a milestone, as it marks the beginning of a new commitment within the flying sensors, ” says director Andrew C. Teich of FLIR Systems to Teknisk Ukeblad.
co-Founder and chief technology officer Petter Wall is about 400 million richer today, but have no plans to stop.
On the contrary I’m at least as motivated now as in the past. Now, it is the other who takes over the shop, while I shall concentrate only about the technology, ” he says.
Black Trumpet
While Prox Dynamics develops, builds and sells tiny flying sensors for military use, is FLIR Systems, the world’s largest manufacturer of thermal sensors.
FLIR Systems ceo Andy Teich (t.h) got a Black Horn 2T of Prox Dynamics-founder Petter Muren under overtakelsessigneringen in the day.Photo: Eirik Helland Urke
Dronen was midtlivsoppgradert in 2014 with improved optics and the motor, so that the dronen has far higher speed, lower støysignatur and better vindresistans than the first generation.
at the same time was a new nattversjon was ready. During the development of this (PD-100T) collaboration Prox Dynamics and FLIR closely. In fact, it was here the sensor Lepton was launched, a langbølge-IR camera that only weighs a half a gram.
Now, says FLIR Systems that it is precisely in order to exploit the Lepton that they obtain Prox Dynamics and their unique and revolutionary nano-dronesystem.
the Name Prox Dynamics disappears. Now is this in place FLIR Systems’ Unmanned Aerial Systems (UAS)-business area. However, the operations in Norway continue. FLIR emphasizes that they have plans to invest in further development of the PRS platform in order to provide for the further enhancement of range, flexibility and performance and in addition reduce costs.
the Company has approximately 100 employees in Norway today, of whom 43 work in the production on Eggemoen.
Flying binoculars
The tiny dronen PD-100 Black Hornet is designed to help with reconnaissance for soldiers.
From the PD-100-training on the Back.Photo by: Eirik Helland Urke
Nanodronen is difficult to detect, and flying at a speed of 5 metres per second (18 km/h) and can withstand gusts of 20 knots (10,3 m/s). It can fly up to 1.6 km from the bakkestasjonen and has 25 minutes of endurance.
Photos: Prox Dynamics
Each craft weighs only 17,5 grams and measures 120 millimeters from nose to tail. PD-100s form factor is obviously a strength, whether it is a light utility vehicles or a tank, so there is hardly space for new equipment.
Dronen should be able to be in the air during the two minutes after the box is packed up.
Each system consists of a bakkestasjon with screen, styrekontroller and a “hangar” with two helkoptre. Each drone has the capacity to 20-25 minute flight time before it must home for charging. The hangar serves as battery banks and have the capacity of six recharges.
In virtue of his mobility, only 1.3 kg in total, this is the different equipment that is designed to be at the layer level. Therefore is called dronen like “personal reconnaissance system” (PRS) or “soldier’s flying binoculars”.
– a Superb match
With this acquisition, we are ensuring us a unique UAS capabilities. The way Prox Dynamics has taken advantage of our Lepton-sensor for advanced intelligence, surveillance and reconnaissance fits in our growth ambitions within overvåkingssegmentet, says FLIR Systems ceo Andy Teich.
He points out, moreover, that the Prox Dynamics-team work with a commercial mindset that is a superb match with their own business philosophy they call CDMQ (“commercially developed, military qualified”).
Here is the first Lepton sensor, which was taken in use in the PD-100T. Lepton is now a whole family of sensors.Photos: Per Erlien Dalløkken
According to Teich is today’s Prox Dynamics head office for UAS operations. He does not rule out that the FLIR also can buy other droneprodusenter to the new initiative.
A PD-100 model just after that peter Wall established Prox Dynamics in 2007.Photos: Per Erlien Dalløkken
According to Prox Dynamics ceo Gudmund Kjærheim, has FLIR been on oppkjøpsjakt since January of this year. It started with that Prox Dynamics bought a thousand ekseplarer of Lepton sensor in two years earlier.
FLIR Systems is the world’s largest manufacturer of thermal cameras and their components. The company was founded in 1978 and took the name after the acronym “Forward looking infrared” that are often used on EO/IR cameras from all sorts of suppliers.
FLIR Systems thus has sensors in all sizes, from the world’s smallest in PD-100T to the bigger devices, for example, Flir Star safire 380-HDc, which can now be fitted in Norway’s upcoming AW101-redningshelikoptre.
Further development
Petter, the Wall is now most excited about what the two companies are able to take up of new products. According to him, the merged companies already started to look at optimization and improvements. It they look at is the operation with so-called “gps denial”.
– It is about being less dependent on the satellite and make use of more kamerabasert navigation. This requires, among other things, more processing power, ” he says.
Prox Dynamics AS achieved a profit before tax of 16,6 million of a turnover of 98,5 million in the year-ago quarter. The largest shareholders were the founder Petter Muren through the company Prox AS (35 per cent) and Geir Førre through the company Firda AS (34 per cent).
the Black Hornet is that known pretty spectacular technology. It has through the years given Porx Dynamics much gratisreklame. No later than now in november, when dronen plays the lead role in a new uniforms the US Army is running on most major tv channels in the united STATES (see below).
– We would like to stress that tapspotensial on these loans can be easily underestimated if one only looks at historical losses. This is a market in strong growth, there are many that increases its debt, for example, by pulling on the kredittrammer, and the losses can easily come to appear as larger than they believe if one looks at historical numbers, ” said director Morten Baltzersen in the financial supervisory authority of norway during a press conference Wednesday.
Economic mess
financial supervisory authority of norway presented the report “Financial trends”, and the explosive growth in the consumer loans are among the part of the authority concerns about household finances.
“Even if consumer loans constitute a small proportion of household loans, recording of the personal loans apply individuals large loads. It is important that the lenders do not underestimate the risk of loss”, said the report.
The last few years has the overall forbrukslånet in the Uk increased sharply, and were at the end of the third quarter of 2016 around 86 billion.
This product can easily lead many people out of the economic mess. It is a regard to consumer protection in itself that is important here – although it has only limited importance for financial stability, says Baltzersen.
– Several may get problems
financial supervisory authority of norway also lays emphasis on the fact that the banks must take into account the customers ‘ long-term interest when they lend out money without security with high interest rates.
– Would want to experience financially worse times in Norway, with increased unemployment, more problems to service the loans, said Baltzersen.
In a stress test financial supervisory authority of norway has conducted for banks in Norway, was the breach of contract the greatest personal loan.
There is much that suggests that it is the first thing one will fail. You will attempt to as far as possible to operate boliglånet, said Emil Steffensen, director of the bank and forsikringstilsyn in the financial supervisory authority of norway.
– Ongoing marketing
the Profitability has been very good in forbruksbankene the last few years, which has meant that many new entrants have come and pointed out Baltzersen.
He believes the growth is strong and supports the proposal of the consumer ombudsman to tighten the rules for marketing.
– We believe it is an important proposal for better consumer protection and mitigate the growth in this market, ” said Baltzersen, who described the marketing as “ongoing” and “quite aggressive”.
Several companies have marketed personal loans as equity, which can be prohibited.
During the press conference was Baltzersen’s questions On whether the authority has been cracking down on such marketing, but he did not respond directly on this.
” We are concerned for the growth in consumer loans, and there is a danger that the personal loans is not provided by the mortgage. A gjeldsregister will help to reduce this risk, ” said Baltzersen.
reputational risk
financial supervisory authority of norway also points out that the strong growth in consumer loans constitute a reputational risk both for the banking sector in general and forbruksbankene in particular.
“By an increase in unemployment and necessary consolidation in the household sector, it would be expected an increase in defaults and losses on consumer loans. For banks and enterprises, it will also involve a reputational risk to be heavily involved in the consumer loans”, called it in the accept finanstilsynet’s report.
Baltzersen called the risk of “significant” during the press conference
– Omdømmerisikoen is related to what they can inflict on vulnerable individuals, he said.
was scheduled to Opecs secretary general Muhammad Sanusi Barkindo meet the press on Wednesday afternoon.
It would he do together with Qatars energy minister Mohammed Bin Saleh Al-Sada, who is the president of the 171. ordinary Opec meeting in Vienna.
the Press conference is postponed, but the organisation is expected to confirm that the 14 members agree to cut oil production to 32.5 million barrels per day.
reports Bloomberg, which refers to the delegates at today’s meeting. The information is so far not confirmed from Opecs page.
oil prices rise
the News from Vienna have affected both currencies, oil prices and stock markets.
the price of oil is up over seven percent in the course of the day, and trades to over 50 dollars a barrel from below 48 dollars a barrel in the morning hours.
the Rise in oil prices has led to that the Norwegian krone has strengthened against both the dollar and the euro in the course of the day. Wednesday afternoon is a dollar worth 8,51 million.
Opec should cut production by around 1.2 million barrels per day to 32.5 million barrels per day, according to Bloomberg. The agreement will also involve cuts of 600,000 barrels a day from countries that are not in Opec, writes the news agency.
IMPORTANT MEETING: the price of oil has risen much Wednesday, on rumours that Opec countries would agree to cut oil production. This is Saudi Arabia’s oil minister Khalid Al-Falih.
Photo: Ronald Zak AP
Arguing about the distribution
the Countries were in september agreed to cut to a level of between 32.5 million and 33 million barrels per day, and the distribution of the cuts between the countries has been the central theme in the negotiations since.
Among other things, Iran and Iraq, both of which are about to increase production significantly, been skeptical of the to limit or cut their production.
higher oil prices will increase the incomes of oil producers both in the middle East, the USA and Norway, and make them better able to finance investments in future production.
Fears skvis
If the sharp fall in investment in the last two years continues, it can lead to that the production is much lower than the demand around 2020, according to The international energy agency, IEA.
Then the prices can be sky-high.
Until further notice, it is still too much oil in the market, and U.s. oil producers are standing by the pumps if the price should rise.
most oil producers in the middle East have large budget deficit and must borrow money to finance its expenditure.
They therefore want a higher oil price, and that they can get to by cutting production.
Saudi Arabia will need around 92 dollars a barrel to balance its budget, while Kuwait, which is the best way in the middle East, needs an oil price of 57 dollars a barrel to get in balance, according to analysts at Wood Mackenzie.
oil income constitutes 90 percent of the revenue to the saudi government, and these fell by 120 billion dollars, or 54 per cent between 2014 and 2015, according to Wood Mackenzie.
More questions remain
A number of questions remain after Opecs agreement. One of them is whether the Opec countries will do as they have said, or whether they will fall for the temptation to produce more than they have promised.
another question is how quickly american manufacturers can step up their production of shale oil and replace the barrels as Opec cuts.
the Cut may namely be offset by increased american production in the course of half a year’s time, and in addition it will be able to put a damper on global demand, warned IEA chief Fatih Birol earlier this month.
We can well see, with any delay of six or nine months, that the american shale oil will flow out on the market, ” said Birol at a press conference earlier in november.
Oljegiganter dealer about the important oljeavtale. – This looks very promising, ” says oljeanalytiker Torbjørn Kjus of DNB. – Klin impossible!, says analysis supervisor Bjarne Schieldrop at SEB.
Oljeministrene in oljekartellet Opec are now in negotiations to cut its total oil production in Austria’s capital Vienna.
In advance of the meeting was an optimistic number oljeministre who met the press, and sent oil prices up to 50,5 per barrel just before the clock 12.30 Wednesday, an increase of over three dollars a barrel.
If this doesn’t work hangs it on personal differences or political factors, ” says oljeanalytiker Torbjørn Kjus in the investment firm DNB Markets. He has been waiting in advance that the ministers in oljekartellet in the day to come to an agreement about an agreement.
Oljeanalytiker Torbjørn Kjus and råvaresjef Nils Fredrik Hvatum is excited ahead of the Opec meeting on Wednesday morning. Here pictured on the råvaredesken in DNB Markets. Photo: Fredrik Bjerknes
– Promise
Oljekartellet, with Saudi Arabia and Iran in the tip, has for months negotiated for an agreement to cut kartellets total oil production to push oil prices up and reduce the profit in the market. The optimistic statements sent oil prices up over 50 dollars a barrel, from just over 47 per barrel before eight o’clock on Wednesday morning.
This looks very promising, ” says Kjus, after having seen the oil price jump over two dollars a barrel the statements from the ministers. He particularly points out two statements that helped to push up oil prices, respectively, oljeministrene, respectively, Iran and Iraq.
Iraqi oil minister Jabbar al-Luaibi stated to Bloomberg that there will be agreement on a cut, and said there was “unanimous agreement in the Opec”. Iran’s oil minister Bijan Namdar Zanganeh said on his page that he was an optimist and that Russia, which are not Opec members, stands ready to cut its oil production in cooperation with oljekartellet.
Internal disagreements
Opec must in the first instance, agree on how the benefits their cut before oljekartellet agree on how oil producers outside Opec, with Russia in the lead, will cut their production. In particular, it has been friction between Saudi Arabia, which is considered Opecs most influential member states, and Iran about how the cuts will be distributed and whether or not Iran at all to cut.
It is these internal disagreements that do that råvareanalysesjef Bjarne Schieldrop, SEB does not believe in any kuttavtale.
last night there was no solution for Iran, and Saudi Arabia seemed to stand firmly on their demands that Iran can’t drop away from the cut or produksjonstak. The situation of Iraq was not resolved, and there was strong disagreement among the member states, ” says Schieldrop to DN.
Bjarne Schieldrop, analysis supervisor for raw materials in the SEB. Photo: Carina Johansen
In addition to Iran and Saudi Arabia conflict, he refers to Iraq’s disagreement with Opec about how much the country itself produces. Iraq believes they will cut their production from a level higher than Opec itself estimates.
– If they haven’t fixed it in six months, why would they do it now on this relatively short meeting?, ask Schielrop, and answers his own question:
To solve this floken in a 14-mannsorkester is klin impossible! They may communicate something that looks like a cut, but it is really most in order to save face. They still want to appear as a unified group that has influence in media, politics and the market, ” he says.
When president Donald Trump confirms that Elaine Chao is a new transportminister. In addition, Wilbur Ross Jr. industry, while Steven Terns Mnuchin become finance minister, according to sources.
In a press release, informs the Trumps transition team that Chao is transportminister. 63-year-old has a background as a labor minister and visetransportminister under president George W. Bush.
She has an amazing life story and has helped countless americans in the course of his career in the public sector, ” says Trump.
Chao is married to Mitch McConnell, the Republican leader in the Senate.
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at the same time join several american media that the film producer and financier Steven Terns Mnuchin will be new finance minister. 53-year-old began his career at Goldman Sachs, before he created his own hedge fund, moved to the west coast and created a production company that, among other things, is behind filmsuksesser as X-men and Avatar. The New York Times writes that it is expected that the Mnuchin will be designated Wednesday.
Sources in the Trumps transition team announces otherwise to the Wall Street Journal that the businessman Wilbur Ross, Jr. is minister of commerce. Ross is known for restructuring failed companies in industries such as steel and coal.
Price becomes health minister
The new the appointments and the leaks comes after Trump on Monday chose Tom Price to the health minister. 62-year-old Price is a trained orthopedic surgeon and is one of several doctors in The republican party who have contributed in the work of hashing out the party’s health policy, and especially the Republican alternative to helsereformen called Obamacare.
A spokesman for Trump, Jason Miller, says to CNN that the Prices foremost job is to lead efforts to abolish and find a replacement for Obamacare. He says Obamacare is about to collapse because of increasing costs.
the Left has withdrawn from the budsjettforhandlingene with the coalition parties.
They believe is Right and Progress has not stretched far enough when it comes to suggestions to bring down greenhouse gas emissions.
on Wednesday morning to meet the Christian democratic Party to an extraordinary gruppemøtet in Parliament.
Where they decide what the party should now do: continue budsjettforhandlingene without Left or resign.
the Government is only depending on one of the two centrist parties to have a majority.
Fylkesleder: Must have a thorough debate
Previously central Sector sources said to the newspaper Aftenposten that they consider it unlikely that the party will continue negotiations with the coalition parties alone if the Left switch. This was repeated on Tuesday.
the newspaper Aftenposten asked Wednesday morning several fylkesledere in the Sector if they want to break and follow the Left or continue budsjettforhandlingene.
And if they switch: they Will then recommend the proposed budget as is?
This we need to have a thorough debate about, and is something I can’t say anything about now. We will use the time we have until we must take a stand, ” says Kathrine Skjørshammer, fylkesleder in the Oslo Sector.
Knut Duesund, fylkesleder in Telemark, norway, calls the situation difficult.
But people I have been in contact with are keen to get the budget in place where issues of regional development is the most important.
car taxes had not alone is important enough to break with the coalition parties, believes that the Finnmark Sector.
– It is not important in isolation. It has been an important symbol, ” says fylkesleder Svein Iversen in the Finnmark Sector to the NRK
– Good reasons for both options
Paul Kårbø, fylkesleder Hordaland KrF says there are good reasons to follow the Left, but that there also are good reasons to continue the negotiations.
I have received several inquiries from our members who are very engaged in this. Now there should be group meeting in Parliament, and I assume that there will be a clear recommendation from there to a landsstyremøte which will take place on the telephone, ” says Kårbø.
Ingunn E. Ulfsten, fylkesleder in Akershus KrF is tight-lipped.
– I have a clear opinion about this, but will not comment on the issue now. People are very engaged, I can at least say, ” says Ulfstein.
– We have a cooperation agreement with the coalition parties
Hege Irene Fossum, fylkesleder in Buskerud says the negotiations are not the goal of klimaspørsmålet, but emphasises that there also are many other questions that are important for the Sector.
– There is now an internal process, I will therefore not say anything about what we will recommend. But we have a cooperation agreement with the coalition parties, which applies until the summer, but we also have a negotiated agreement with the Left. So whatever we select it becomes hard, ” says Fossum.
Read the comment to Aftenposten’s political editor Trine Eilertsen: Ultimatumet about car taxes had to end as a historical mistake made by prime minister Erna Solberg
– Not the Progress that has set utimatum
Jon-Olav Strand, 1. deputy chairman of Aust-Agder, says he has full confidence in stortingsgruppen that in the day to discuss the matter.
– This is a situation where the Progress can get gjennnom much of its policy. We are also concerned by the climate, so the Left is. We are not so concerned about the game going on now. We are more concerned about the total for the climate. It is not the Progress that has set the ultimatum. I hope we find a solution, I think it best for the country is to avoid a budsjettkrise.
More important issues
Per Olesen Kvinlaug, fylkesleder in Vest-Agder, as are all the other concerned that this is an internal process.
It is undoubtedly a demanding situation. I was supposed to put that we agreed, all four. But we in the Sector have also a number of other issues that are important to us, as a school, agriculture, volunteer efforts and other issues. But I’ll leave my opinion about what I believe the Sector should now do come up in our internal meetings, so we’ll see what we do.
Can save the government is also in violation
Even if the Sector were to decide not to continue budsjettforhandlingene without sentrumskamerat the Left, it is still possible that it is This which ultimately saves the Government.
If the coalition parties failed to negotiate a budsjettflertall before the case to be in the parliamentary assembly room 5. December, it is likely that the Government sets a kabinettsspørsmål – it will say that it threatens to go off if it does not receive a parliamentary majority.
Then, the situation has evolved from budsjettkaos to this design was proven.
In such a case, other strategic considerations underlie than in budsjettforhandlinger.
His sources have until now said that it is completely open what conclusion the party lands on, if the Government sets a kabinettsspørsmål.
the Prices of homes in sacramento is the same now as five years ago, but now is the market to mend.
– We notice that something happens in the Stavanger area. We have sold four to five homes where the to between seven and nine million in the last two weeks. We have not done for a long time. There are many more people at the viewing also. We put out two new projects in march and april. It is the first time in 2.5 years we have posted anything properly in Stavanger, ” says the boss for Selvaag Bolig, Baard Schumann, to the DN.
Many unsold homes in the Stavanger can be pulled out of balance, he believes.
It was sold much skitboliger in Stavanger for high prices, to put it that way. Homes you don’t buy when there is a great choice. You don’t buy the bakgårdsleiligheten without daylight now. The could you rent out for a fortune to a oljeingeniør, but he has gone home now. It is a part such housing which is not being sold. Thus, it is opening to come with the new housing with better quality, ” says Schumann, to the newspaper.
the Difference between two of the world’s most important interest rates have increased to historically high levels the past few weeks.
Yields on u.s. statslån has risen steeply, while the yields on German statslån has gone the opposite way.
Monday was a difference of nok 2.14 percentage points on interest rates on statslån with ten year terms to maturity of the two nations.
– the Difference between the united STATES and Europe has just exploded in the past and gone to levels we haven’t seen in years and a day, ” says chief economist Bjørn-Roger Wilhelmsen in makrohedgefondet Nordkinn.
Fear and hope
There are more than 27 years since the last time this renteforskjellen was greater. We must all the way back to the time before the reunification between West – and East-Germany in 1989 to find the last time the difference was greater.
Wilhelmsen believes there mainly are two reasons why government bond yields in the two central nations on each side of the Atlantic has gone each his way the last few weeks:
Signals of increased spending on infrastructure and tax cuts after Trump’s election victory has led to hopes of increased growth and higher inflation in the united STATES. In Europe, there is as yet no prospect of an equally strong development, and thus differentiated government bond yields layer.
the Referendum in Italy on Sunday 4. December has raised fears of political chaos in the country. This has led to increased demand for German government debt and pushed yields down.
the Difference in renteutviklingen comes perhaps most clearly to call in loans with shorter maturities. In these loans are caught to the expectations of the very shortest interest rates, which the central banks control, better up than in loans with longer maturities.
the Difference in renteutviklingen come, nevertheless, also evident in loans with longer maturities. But the German tiårsrenter is still clearly higher than they were earlier in the year. This has to do with the fact that the long-term interest rates to a greater extent captures changes in long term expectations for inflation and economic activity. The development this fall indicates that growth – and inflation expectations have risen also in Europe in the course of the autumn, but also more moderate than in the united STATES.
the Interest rate on a statslån reflects the return investors get for lending money to a nation in a given period of time. The ongoing renteutviklingen comes first and foremost up in the secondary market, where shares in the statslån are traded among investors.
If the demand for statslån falls, the price will fall. This leads to the fact that the implicit return on the loan until maturity, i.e. the interest rate, increases. The opposite way will the interest rate fall if the price increases.
the Demand is affected by a variety of conditions, including the short interest rates are determined by central banks, the nation’s various companies ‘ growth prospects, inflation expectations at and any risk related to the nation’s ability to service the debt.
Yields have traditionally been used as a reference for the determination of the interest rates on a variety of types of loans to businesses and individuals.
Interest rates on loans to large nations such as the USA and Germany are particularly central, since these countries are considered as safe tilbakebetalere and has a large lånevolum. Since there are a lot of trade in the loans and the risk of default is considered very low, they can be used as a reference for a practically risk-free interest rate.
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Wilhelmsen believes the increase in markedsrentene this fall can be divided into four phases:
1. interest rates in the largest and most important of the mature economies of the world began to be ticking up even before the u.s. presidential election on the basis of the fact that several indicators showed better outlook for the global economy forward.
2. Donald Trump’s victory in the us presidential election earlier in november led to a sharp rise in u.s. interest rates, but also in Europe and Japan followed interest rates with upwards.
3. After a sudden increase also in Japanese yields, the japanese central bank two weeks ago action behind his promise to not let the interest on the statslån with a ten-year term rise to above zero per cent. Thus stopped the rise in japanese interest rates. Statements from The european central bank ECB made investors more confident that the central bank also in the future will lead an expansive monetary policy and continue to buy government bonds on a large scale in the market. This has stopped the increase in German interest rates.
4. the Fear of political chaos after the Italian referendum in the last few days meant that German interest rates have fallen further, especially for loans with shorter maturities.
Might be upset
Analysts Jussi Hiljanen and Lina Fransson, SEB also points out that the market is now pricing in less risk of weaker economic development and expectations of higher inflation going forward in loans with longer maturities.
– We expect that this process will continue in the coming months, write the analysts Hiljanen and Fransson in an update from SEB on Tuesday.
Also, the SEB-analysts draws up Sunday’s referendum in Italy as an element of uncertainty.
– There is a risk for lower interest rates after the Italian referendum 4. December. Any decline in interest rates should be seen as an opportunity to position themselves for higher interest rates, writes SEB-analysts.
Ole T. Bjørneviks shipowner Boa Offshore AS it continues to lose money. The second quarter of 2016 ended the 315 million in the minus. On Tuesday afternoon the company announced results for the third quarter, which shows an additional loss of nok 87 million before tax. The revenues of 169 million in the last three months, 365 million less than in the same period of last year.
Read also: Bjørneviks company lost 315 million. in three months
Large likviditersproblem
the Crisis in the oljeservicebransjen now affect this Trondheim-based shipping company further negativy. The company says in a stock exchange announcement on Tuesday that the situation is “significantly worse than expected just a few months ago”. Ole T. Bjørnevik will not comment on the case itself, but refers Tuesday afternoon to the managing director of the company.
Trondheimsreder Ole T. Bjørnevik owner Boa Offshore through Taubåtkompaniet AS. Photo: Morten Antonsen
– the Situation in the market collect us and we must initiate a restruktureringsprosess, says managing director Helge Kvalvik in Boa Offshore.
According to the børsmeldingen, the company may run out of money in the course of the next quarter or first quarter of 2017.
– there Is danger of bankruptcy?
We are sitting with a plan we believe is best for our financial creditors and assumes that we reach the goal with it. I have a thousand tasks a day. To spend time on what happens if we do not reach the goal with this plan is wasted energy, ” says Kvalvik.
According to the børsmeldingen is the company’s likviditetsproblem (ability to pay) serious. The company will operate as normal, but during the process they will come to break the payables for the instalments and interest against the obligasjonslångivere.
Read also: Got back down payment
Want to sell two vessels
Both the “Boa Bison” and “Boa Jarl” was built by the former Noryards shipyard in Rissa in 2015. Both vessels were built to take on missions in the oilfields in the north Sea. They will Boa Offshore now get rid of.
the Market for our kontruksjonsfartøy has been significantly worse for us throughout the fall. We work with you to get sold our two vessels, the “Boa Bison” and “Boa Jarl”, but the sales process does not go forward as planned. In addition, we are experiencing a slightly weaker taubåtmarked than what we had seen for us for a short time back, ” says Kvalvik.
– What are the consequences of the economic situation?
– We need to put us down with our financial creditors and find a plan forward. It is what we work with and have a good plan for. In the meantime, go to the company and its operations up to customers as planned, ” says Kvalvik.
Read also: Noryards Fosen owe Bjørnevik over 100 million
Affects the manning at sea
– Will a sale of “Boa Bison” and “Boa Jarl” be a rescue?
I will not comment on the solution or plans. It is the insider information.
– Is the situation serious?
– It says itself, ” says Kvalvik.
the Company has previously carried out job cuts. The restructuring does not nedbemaninnger, but opplagsituasjonen affects sjøansatte, according to Kvalvik.
Boa Offshore has a fleet of just over 40 offshoreskip, barges, and tugs. Per date is three tug boats and three offshore vessels on the way up.
Little evidence to suggest that Frp will meet the main requirement from the Left that the party will come back to the negotiating table, namely, to open up to change the content in can be a problem.
the Parliamentary leader Harald Tom Nesvik says on the contrary that he for his part is hoping This will now negotiate further with the coalition parties to get the country a good budget. This response is in practice a cash no to the Liberal claim, and apparently has Left not achieved what they have been looking for: to push for the Right to go back on their ultimatum.
the right’s decision is, however, only temporary. Would This also break the negotiations in the morning have not only the Right, but also Right, and prime minister Erna Solberg assess the situation again and decide whether they will get the two centrist parties in the meeting, and to resolve on their bilultimatum.
What does This do?
The next day, will This have a very demanding political decision in front of him. Partiledelsen is after all to judge in any doubt about what is the right thing to do for the party both in the short and in the longer term with the thought of next year’s options. In the process, there have been diverging signals about this from the PROGRESS, and this uncertainty still living.
the Background is that the party is being dragged in two directions: On the one hand it will be politically difficult to make alone, to rescue a government which the progress party, after the party’s landsstyre has declared that they will work to obtain a government without the progress party in the next year Stotingsvalg. The party fears that they are perceived as opportunists who can be bought for any “prestestillinger” and confirm ingrained stereotypes about the Sector.
a Doubt in Progress
On the other hand, there is a significant political difference between the Left and the Christian democratic Party. There is no doubt that many in the Sector believe the Left, and Trine Skei Grande itself has responsibility to ensure that the negotiations this time have been unnecessarily difficult. Venstrelederens claims about “the greenest budget” has narrowed down the forhandlingsrommet significantly, also on behalf of the Sector.
There is a widespread perception in the Sector that the party in isolation, could have been agreed on a budsjettforlik with the Right and conservative party. Knut Arild Hareide has a less uncompromising approach to the environmental requirements in the budget than the Trine Skei Grande have, and should Better get a quote on their core business which is regarded as a significant support, it is difficult to say no, and help to ensure that Erna Solberg may have to go as the prime minister.
this design was proven?
If the Progress despite all the doubt should go with the Left and break the negotiations, it is not given that the government Solberg falls. One possibility is that the coalition parties, without having a framforhandlet agreement adds a last “ekstratilbud” before møtestart 5 December and hope this is good enough to salvage a majority in the last hour with the Progress and or Left. One or both of these parties can then explain that they are voting for their own suggestions first, and H and the progress party’s suggested alternative and, without that Erna Solberg is forced to ask a kabinettsspørsmål.
If the parties declare that they will not support the Right and the right’s proposal, has not the government a majority for any budget, and Erna Solberg is forced to ask a kabinettsspørsmål on the budget and notify that her government will resign if it does not achieve a majority. Here, of course, the two possible outcomes. Either bend the Progress and or to the Left of and votes for the budget and the berger government, or they vote against and trigger the government’s resignation.
What is realistic?
A government that is going to have to ask kabinettsspørsmål to survive in the Parliament is a weakened government. The humiliation is further great if only one of the two samarbeidspartiene bends of and provide the government a hardly possible majority. One year before the election, there is a situation Erna Solberg will avoid.
A hardly days before the KrF has decided, is the situation in so way open.
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