Money and FinanceBusiness - Money and Finance  US ambassador to Norway, Benson K.Whitney, has asked Norway to increase its defence budget, and to send special forces to Afghanistan.
Tuesday, 28 November 2006 09:11
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The Norwegian Central Bank will from early next year stop the printing of Norwegian bank notes. The production is too expensive, and will be moved abroad. 
Norway's National Pension Fund - Abroad, formerly known as the National Oil Fund, increased by NOK 207 billion in the third quarter, and is now valued at NOK 1712 billion. 
Norway has agreed to cancel USD 20 million of a total of USD 46 million debt owed by Pakistan to Norway, on condition that the money be used for reconstruction and development. (Photo: Development Minister Erik Solheim) 
As expected, the Executive Board of Norway's Central Bank (Norges Bank) on Wednesday decided to raise the sight deposit rate by 0.25 percentage point to 3.25 per cent with effect from November 2nd 2006. 
As expected the board of the Norwegian Central Bank on Wednesday decided to hold the interest rate unchanged. The key interest rate, the sight deposit rate, thus remains at 3.00 per cent. 
Norway and the EU disagree over Norway's financial contribution to the union. The EU wants more money from Norway when it receives new member nations in January. 
The Norwegian Central Bank has announced that the 10-krone coin showing the profile of King Olav V of Norway will be withdrawn from circulation, effective September 15th. 
