SOCIETY / BUSINESS

Latvia Elected to UN Security Council for the First Time

By
Helena-Reet Ennet
-

NordenBladedt – On Tuesday, Latvia was elected as a non-permanent member of the United Nations Security Council for the years 2026–2027. The decision was made by the UN General Assembly, where Latvia received support from 178 member states. A minimum of 129 votes was required for election.

The Security Council is one of the UN’s most important bodies, responsible for making internationally binding decisions, including those related to sanctions, military interventions, and peacekeeping operations.

The Council consists of 15 members: five permanent members (the United States, the United Kingdom, France, China, and Russia) and ten non-permanent members elected for two-year terms. Each year, five new non-permanent members are elected based on regional representation.

Latvia ran unopposed in the Eastern European group, as Montenegro withdrew its candidacy earlier this year. The group is allocated one seat on the Security Council.

In addition to Latvia, other countries elected this year include the Democratic Republic of the Congo and Liberia from the African group, Colombia from the Latin American and Caribbean group, and Bahrain from the Asian group.

Most of these countries have previously served on the Council—Colombia has done so seven times. Latvia, however, is joining the Security Council for the very first time.

Featured image: NordenBladet

Estlink 3 – New Power Connection with Finland Expected by the End of the Decade

By
Helena-Reet Ennet
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NordenBladet – The planning of Estlink 3, the third electricity interconnection between Estonia and Finland, is currently underway, with several preparatory steps already completed. Although the project is still in its early stages, significant attention is already being paid to cable security and environmental impact.

The cable will come ashore in Aulepa, Estonia, a region known for intensive trawling activity. This is being taken into account during the cable route planning, and adjustments will be made if necessary to minimize the impact on local fisheries and to ensure operational safety. One of the main goals is to place the new connection far enough from existing infrastructure to reduce the risk of simultaneous failures.

According to the Estonian grid operator Elering, the project also takes into consideration the threat of sabotage, which has recently gained attention due to incidents in the Baltic Sea. The cable is planned to be laid deeper into the seabed, and additional protective measures will be tailored to the specific geological conditions.

Estlink 3 – New Power Connection with Finland Expected by the End of the DecadePhoto: Elering

Estlink 3 is being developed in cooperation with the Finnish grid operator Fingrid, which is currently focusing on finalizing the business model before making a more substantial technical contribution. The geological conditions in Finland — granite bedrock interspersed with clay layers — present technical challenges but are not expected to affect the overall timeline. However, they do require more extensive geological studies.

If everything proceeds as planned, Estlink 3 is expected to be completed by the mid-2030s.

Featured image is illustrative: NordenBladet

DOES Ultra-wealth strip billionaires of freedom and even their principles?

By
NordenBladet.com
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DOES ULTRA-WEALTH STRIP BILLIONAIRES OF FREEDOM AND EVEN THEIR PRINCIPLES?

NordenBladet – Wealth and freedom are two fundamental ideas that often go hand in hand in public discourse. A common phrase is: I want to be rich so I can be free. However, the more we examine the lives of the ultra-rich, the more a paradox emerges: the larger the fortune, the more restricted true freedoms become. There are limits where you lose your voice, your identity, and even your life – extreme wealth can lead or even push a person, semi-willingly, into becoming a pawn of manipulation, pressure, and political forces.

Is having too much money like a drug addiction, a playful indulgence in wealth that ultimately distances a person from true freedom? Or should we rather ask whether it is even possible to become mega-rich without compromising morality?

Beyond a certain financial threshold, even the ultra-wealthy start engaging in flattery, suppressing their own opinions, making compromises, playing by the you-scratch-my-back-I’ll-scratch-yours rule, and other constraining behaviors – all in pursuit of even greater gains.

I believe that a person is truly rich and free when they have enough resources but can still say what they truly think, do what they truly want, and do it whenever they choose.

Let’s take an example from the most read and debated trio in Scandinavian media today: Trump-Zelenskyy-Lutnick.

Is billionaire investment banker Howard William Lutnick—CEO of Cantor Fitzgerald and the 41st U.S. Secretary of Commerce—a free man in his words and actions? No, he is not. Psychologically, he is likely just as constrained under President Trump as any regular 9-to-5 worker under their boss. The difference is that many ordinary people comply willingly—some because they don’t know any other way, others because they simply don’t want another way. But Lutnick? He no longer has a choice. He is a businessman who wants to make business great again.

Lutnick’s company is deeply intertwined with the U.S. political and economic elite. By pushing dubious contracts onto Ukraine, he secures early control over its mines and ports. Lithium, iron ore, and other rare metals—the very resources fueling the war in Ukraine—are then handed to him on a silver platter, just as they are to other players in the same game.

Top businessmen love to see themselves not only as billionaires but also as historical figures shaping the world. Did Lutnick believe that by forcing his “peace plan” onto Zelenskyy, he was not tarnishing his reputation but rather positioning himself as a bold peace negotiator and economic rebuilder?

Almost all people are pragmatic and susceptible to manipulation—very few can be TRULY FREE AND RICH at the same time. Many can be free but not wealthy; many are wealthy but not free. Only a rare few have the guts to stand their ground, even against the world’s wealthiest elite—to prioritize their true beliefs and values over money.

Money itself is, of course, not inherently bad. On the contrary, it is an incredibly useful tool that enables societal progress, problem-solving, a comfortable life, scientific advancements, and improved social welfare. However, there is a point beyond which accumulating wealth no longer serves human needs but instead becomes a goal in itself.

Once a person’s income surpasses a certain level, it no longer enhances their quality of life but rather creates new concerns: asset protection, political influence, competition, manipulation, and constant social maneuvering to maintain their position.

Much of the life of the ultra-wealthy revolves around compromise and adaptation. While an ordinary person can freely express their opinions, the ultra-rich must constantly calculate whom they need to please and what consequences their statements may have. The larger the fortune, the more one must participate in the games dictated by political and economic forces, where every decision is weighed not in terms of personal freedom but in terms of profit and influence. This leads to a situation where personal identity diminishes, and the individual becomes a pawn in the hands of political leaders or other powerful economic players.

Ultra-wealth is much like elite sports, where the focus is no longer on health but on results. Professional athletes may appear fit and healthy from the outside, but in reality, there is no top athlete who is truly healthy—they are all broken in some way, either physically or mentally. Elite athletes may seem successful and free, but in truth, they live under constant pressure: injuries, doping, medical manipulation, social expectations, and sponsor demands. Their lives revolve around obedience, dependency, requirements, and restrictions. The same applies to many of the ultra-rich.

I often wonder: money is great, but at such a cost? Why are so many of the mega-rich such spineless, politically correct figures who rarely express their true opinions? The reason is obvious: the greater the fortune, the greater the greed and the stronger the need to protect it. Today’s global economy is built on interdependencies where power and money exist in symbiosis, which can lead people to abandon their fundamental values.

Those who speak too openly face scandals, boycotts, and even financial losses. Thus, the ultra-rich adapt and prefer to quietly accumulate wealth rather than risk their fortunes. Yes, they are in big trouble because they can no longer live independently and honestly without putting their financial empires at risk. Just look at the Russian oligarchs—many of whom are now like blue-collar workers earning minimum wage and carrying 40-year mortgages, terrified of losing their jobs. (In reality, they probably fear for their lives even more than their money at this point.) And perhaps with good reason—most of their wealth is tied to dependencies.

I firmly believe that having less but independent money is far better! Perhaps it’s not even right to say less. Having a lot of money is great too—but it must be independent!

Independence, in general, is a truly valuable thing. Paradoxically, the happiest and freest people are often those who have enough money to live comfortably but not so much that they need to protect their wealth from complex political and economic games.

More independence, more self-sufficiency, and more independent wealth!

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Leaving NATO Would Be a Strategic Catastrophe for the U.S.

By
NordenBladet.com
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NordenBladet – While President Trump has repeatedly criticized NATO and suggested that the U.S. might leave the alliance, the likelihood of such a move actually materializing remains low. There are several key reasons for this:

  1. If the U.S. were to leave NATO, its global influence would significantly diminish.
  2. In 2023, the U.S. Congress passed a law prohibiting the president from unilaterally withdrawing from NATO without two-thirds Senate approval or an act of Congress.
  3. The U.S. military and intelligence community strongly support NATO, as the alliance bolsters America’s global standing and acts as a deterrent against Russia and China.
  4. Polls indicate that a majority of Americans support NATO membership.

The Consequences of a U.S. Withdrawal from NATO

1. The Decline of U.S. Geopolitical Influence

NATO serves as a primary platform for the U.S. to exercise its influence in global politics. Through NATO, Washington largely shapes Western security policies, impacts European military decisions, and maintains control over strategic partnerships. A U.S. departure from NATO would create an opportunity for Europe to become more independent and, if desired, shift its focus towards other geopolitical power centers such as China.

2. Diminished U.S. Authority on the Global Stage

If the U.S. were no longer part of NATO, its voice in Western collective defense matters would be significantly weakened. European countries, which have historically relied on Washington’s leadership, would make more independent security decisions. Nations like France and Germany might pursue their own defense cooperation, leading to a decline in the U.S.’s relevance in global security and eroding its role as the “world’s policeman.”

3. Damage to Trump’s Reputation Domestically and Internationally

  • In Europe: A U.S. withdrawal from NATO could be perceived as a betrayal, particularly among Eastern European nations such as Poland and the Baltic states, which rely on U.S. security guarantees. This could severely damage America’s soft power and credibility, as allies might no longer trust Washington’s commitments and agreements.
  • In the U.S.: While some of Trump’s supporters, particularly those who favor isolationist policies, might applaud a NATO exit as an “America First” victory, most of the U.S. political and military establishment would strongly oppose it. The Senate has already passed legislation preventing a unilateral withdrawal, indicating that even within Trump’s party, the idea is unpopular.

4. Increased Economic and Military Vulnerability for the U.S.

Leaving NATO would not yield the financial benefits some of Trump’s supporters may expect. While the U.S. does contribute more to NATO than most member states, it also gains significant advantages:

  • NATO maintains a U.S. military presence in Europe and ensures strategic alliances.
  • U.S. defense companies benefit from NATO military contracts, arms deals, and infrastructure projects.
  • NATO strengthens America’s global deterrence capabilities. If NATO were to weaken or dissolve, the U.S. would need to allocate additional resources to maintaining its influence in Asia and other regions.

Trump Would Be Undermining Both the U.S. and Himself

If the U.S. were to leave NATO, the consequences would include:

  • A dramatic decline in Washington’s global security influence.
  • Greater independence for NATO allies, which could threaten America’s long-term global dominance.
  • Damage to Trump’s legacy, as he would be remembered as the president who weakened America’s position rather than strengthening it.
  • Increased geopolitical uncertainty, potentially benefiting Russia and China.

Why Does Trump Use NATO Withdrawal Rhetoric?

Neither President Trump nor his advisors are naïve, and his NATO-related threats should not be dismissed as mere impulsive statements. Instead, this rhetoric serves a strategic purpose and has significant implications.

1. Electoral Strategy and Mobilizing His Base

  • Trump’s political brand is deeply tied to the “America First” doctrine, which prioritizes reducing foreign expenditures and focusing on domestic issues.
  • Many of his supporters—especially conservative and nationalist-leaning Americans—believe that the U.S. spends disproportionately on NATO while European nations contribute too little.
  • Criticizing NATO helps reinforce Trump’s image as a political outsider who is willing to challenge the status quo and protect American taxpayers.

2. Pressuring Europe to Increase Defense Spending

  • Threatening to leave NATO may be a negotiation tactic aimed at pushing European nations to allocate more funds to their own defense.
  • Trump has long accused NATO allies of “taking advantage of the U.S.” and has demanded that they meet their pledged defense spending target of 2% of GDP.
  • Historically, this pressure has worked—many European nations, including Germany and France, have increased their defense budgets in response to Trump’s demands.

3. Domestic Political Leverage – Pressuring Biden and the Democrats

  • Criticizing NATO allows Trump to contrast himself with President Biden, whose foreign policy emphasizes strengthening alliances and supporting Ukraine.
  • If Trump can convince voters that NATO is costly and inefficient, he could push moderate Democrats and Republicans to reassess their stance on international military commitments.

4. Trump’s Foreign Policy Approach: Less Globalism, More Deal-Making

  • Trump is not a traditional geopolitician; instead, he views international relations as transactional, favoring bilateral deals over multilateral organizations.
  • Threatening to withdraw from NATO could be a tactic to extract more favorable economic or trade agreements from Europe.

Could the U.S. Actually Leave NATO?

  • The likelihood of Trump following through on his threats is low.
    • Congress has passed a law that prevents the president from unilaterally withdrawing from NATO without congressional approval.
    • Many Republicans, particularly those who support strong transatlantic ties, would not allow Trump to make such a drastic move.
    • The U.S. military and intelligence community are firmly in favor of maintaining NATO membership, as it enhances America’s global standing and deters adversaries like Russia and China.

Trump’s NATO Criticism: A Tactic, Not a Concrete Plan

  • Trump uses NATO criticism to mobilize his voter base and pressure European allies.
  • His goal is to push Europe to increase defense spending and reduce America’s financial burden within the alliance.
  • While a full NATO exit is unlikely, Trump’s rhetoric could weaken alliance unity and credibility.
  • The real risk may not be an outright U.S. departure from NATO, but rather a scenario in which Trump weakens NATO’s decision-making capacity and scales back U.S. involvement.

A U.S. withdrawal from NATO would have profound consequences for both Trump’s legacy and America’s global standing. In short, while Trump may use NATO withdrawal as a rhetorical tool, actually leaving the alliance would be nothing short of a strategic catastrophe for the United States.

Cover Photo: Unsplash

The TOP 25 countries leading the way in Cryptocurrency Ownership

By
Helena-Reet Ennet
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NordenBladet – Cryptocurrencies have taken the world by storm, with a global market value of $4.67 billion in 2022, projected to reach $11.71 billion by 2030, according to a report by Grand View Research. This surge is driven by the increasing adoption of distributed ledger technology and growing acceptance of digital currencies as a legitimate means of payment.

Asia-Pacific’s Crypto Surge

The Grand View Research report highlights that the Asia-Pacific region is at the forefront of cryptocurrency growth, with China, Japan, and South Korea leading the charge. These nations are witnessing a rapid increase in crypto awareness and investments in blockchain technology.

Navigating Regulatory Challenges

While the crypto industry continues to expand, regulatory hurdles are not uncommon. Australia’s Senate Economics Legislation Committee recently rejected a bill proposing licensing systems for crypto-related services, hindering industry growth in the country. Similarly, the UK’s Financial Conduct Authority is poised to introduce strict rules on crypto marketing to protect citizens from illegal activities.

Unveiling Blockchain with Arkham’s Intelligence

Miguel Morel, a 23-year-old entrepreneur, is on a mission to deanonymize blockchain with his startup, Arkham’s Intelligence. His platform aims to shed light on cryptocurrency transactions by linking users’ blockchain identities to their real-world identities. By encouraging transparency and accountability, Miguel hopes to create a mechanism where users are incentivized to share valuable information with the crypto community.

Corporate Giants Driving Crypto Adoption

Established companies like Coinbase Global Inc., CME Group Inc., and PayPal Holdings, Inc. play a pivotal role in shaping the crypto landscape. Coinbase recently obtained approval to offer cryptocurrency futures trading, while CME Group introduced reference rates for Bitcoin and Ethereum, expanding market access. PayPal launched its own stablecoin, PYUSD, facilitating digital asset transactions.

The Global Impact of Corporate Investment

Large corporations wield considerable influence in driving crypto adoption, leveraging their extensive networks and resources for research and development. These investments enhance industry dynamics and build trust in digital assets. Many companies are also launching mobile applications to make crypto usage more accessible.

25 countries Leading in Cryptocurrency Ownership:

To provide insight into the global cryptocurrency landscape, we’ve compiled a list of the top 25 countries with the highest cryptocurrency ownership rates, based on data from Triple A. The rankings are determined by the percentage of each country’s population that owns cryptocurrencies:

25. Nepal (Crypto Ownership 4.43%)
Nearly 4.8% of Nepal’s population owns crypto.

24. Indonesia (4.55%)
Crypto as a payment method is widely accepted in Indonesia, with 4.55% of the population owning crypto.

23. Colombia (4.81%)
Approximately 4.8% of Colombia’s population, or 2.5 million people, own cryptocurrencies.

22. Morocco (4.90%)
Morocco boasts a cryptocurrency ownership rate of 4.90%.

21. Turkey (5.46%)
Turkey has 5.5% of its population, or nearly 4.6 million people, owning cryptocurrencies.

20. Argentina (5.56%)
Argentina has experienced significant growth in crypto ownership, with 5.6% of its population owning digital assets.

19. Russia (5.87%)
Russia counts nearly 14 million crypto owners, making up 5.87% of its population.

18. France (5.90%)
France has 5.9% of its population, approximately 3.4 million people, owning cryptocurrencies.

17. Philippines (6.13%)
Approximately 6.13% of the population in the Philippines owns cryptocurrencies.

16. United Kingdom (6.2%)
In the UK, 6.2% of the population, nearly 4.2 million people, own crypto, primarily among wealthier individuals.

15. Pakistan (6.40%)
Pakistan ranks among countries with high cryptocurrency ownership at 6.40%.

14. Brazil (6.98%)
Brazil has a substantial crypto community, with almost 16 million people, or 6.98% of the population, owning digital assets.

13. India (7.23%)
India ranks 12th in cryptocurrency ownership, with approximately 97.5 million crypto owners. Regulatory uncertainty persists.

12. Thailand (9.32%)
Thailand boasts a high crypto ownership rate of 9.32%, thanks to favorable laws.

11. South Africa (9.4%)
South Africa has a thriving crypto market, with a large middle-class population investing in digital assets.

10. Venezuela (10.30%)
Venezuela is a major crypto market, with 10% of its population owning digital assets.

9. Nigeria (10.34%)
Africa is witnessing rapid crypto growth, with Nigeria ranking high in ownership at 10.34%.

8. Kenya (10.71%)
Kenya has a substantial crypto community, with 10.71% of its population, almost 6.1 million people, owning digital assets.

7. Singapore (11.05%)
Singapore’s crypto ownership stands at 11.05%, reflecting its status as a global financial hub and crypto hotspot.

6. Iran (13.46%)
Iran has a robust crypto market, with 13.46% of its population owning digital assets.

These countries are at the forefront of the global cryptocurrency revolution, showcasing the growing acceptance and adoption of digital currencies on a worldwide scale. As crypto continues to shape the financial landscape, these nations are setting the pace for others to follow.

5. United States (13.7%)
Cryptocurrencies are highly popular in the United States. The government regulations are supportive and there is an exponential increase in the use of blockchain technology.

4. Ukraine (15.72%)
Amidst the Ukraine-Russia conflict, residents of Ukraine turned to foreign currencies and crypto as a safe haven. This has particularly fueled the use of crypto in Ukraine.

3. Saudi Arabia (17.53%)
Saudi Arabia is one of the largest markets for crypto in the world. Almost 17 % of the total population in Saudi Arabia owns crypto.

2. Vietnam (18.73%)
Vietnam ranks high among the countries with the highest cryptocurrency ownership. The rapid digitization of the economy explains the surge in crypto ownership across the country.

1. United Arab Emirates (27.67%)
The United Arab Emirates holds the largest ownership of crypto. The use of cryptocurrency is legal in the country, and government regulations are also favorable towards blockchain technology. Almost 28% of the total population in the country owns crypto.

Featured image: UAE (Unsplash)

Sweden: The weakened Swedish krona raises the prices of wines in Systembolagets

By
Helena-Reet Ennet
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NordenBladet – On September 1, the prices of wines will be increased further in Systembolagets, with some wines the price increase is up to 43%. This is the third time this year that the prices of several popular wines have increased.

At the New Year, the prices of all wines in Systembolaget were increased, this decision was related to the alcohol tax.

In March, several suppliers decided to raise prices due to rising costs.

And now the time is ripe for a price increase again. From September 1, several popular wines will become more expensive. This increase is mainly due to the weakening of the Swedish krona, which makes it more expensive for suppliers to import wine to Sweden.

Systembolaget, colloquially known as systemet or bolaget , is a government-owned chain of liquor stores in Sweden. It is the only retail store allowed to sell alcoholic beverages that contain more than 3.5% alcohol by volume. Systembolaget acts as a portal for private companies selling alcohol on the Swedish market and as of 2023, it represents 1,200 vendors ranging from small local breweries to large scale importers and multinational companies, selling products from a total of over 5,000 producers from all over the world.

Systembolaget also sells non-alcoholic beverages, although this product segment represents less than half a percent of the company’s total sales of beverages. The minimum age to buy alcohol at Systembolaget is 20 years. At Swedish restaurants and bars the legal age to buy alcoholic beverages is 18 years, though bars and clubs may voluntarily set an age limit higher than 18 if they prefer.

Systembolaget’s stores must close no later than 20:00 on weekdays and 15:00 on Saturdays. On Sundays and public holidays all Systembolaget’s stores are closed. Systembolaget’s stores are also closed on Christmas Eve and Midsummer Eve.

Featured image: Unsplash

Norway: Multimillionaire and real estate businessman Bjørn Hanevik was ordered to remove illegal docks and a garage from his property in idyllic Bergen’s Åsane

By
Helena-Reet Ennet
-

NordenBladet – Influential Norwegian investor and businessman Bjørn Hanevik, who works in real estate, hotels, restaurants and finance through his 100% owned company Bergen Harbor group, is at loggerheads with the municipality of Bergen. Bergen municipality’s planning and construction agency started an investigation regarding Hanevik last year. The news was first reported by Bergens Tidende (BT), NordenBladet.ee mediates.

The municipality issued an order to restore the stair structure, reduce the size of the Garage and dismantle two docks, with an area of 110 and 170 square meters.

Hanevik, which has a good position on this stretch of coastline, one of Norway’s most expensive, opposes the claims and claims that nothing has been built illegally.

“The issue is that it was all built in 1981 and 1982. There was correspondence with the owner at that time in the construction matter, which the municipality has not taken into account in this process. For our part, we have only preserved what has existed since the takeover,” Hanevik told Børsen.

Hanevik states that the fight against the municipality’s order has taken a lot of time in the last two years, and the whole requirement came as a shock to him.

According to BT’s information, the demands have led to the case now moving to political consideration. Settebyord advisor Ruth Grung (Ap) also believes that the breakwater should be removed. He justifies it with the protection of the beach area and draws attention to the fact that the docks have no natural connection with the terrain and the property.

Hanevik assures Børsen that he is not satisfied with the situation and wants to cancel all the demands made to him.

“We must achieve the perfect effect. The big question is what happened in 1982 and 1983,” he said.
According to tax records, Hanevik earned NOK 2.9 million in 2021 and had a net worth of NOK 280 million.




COMPLAINT: The luxury property in Åsane at the end of Våganeset is equipped with two docks, a sandy beach and stairs. It is not known how much of it will be left. Photos: Google Earth screenshot

Norway: Many banks are experiencing an increase in applications for deferred loan payments

By
Helena-Reet Ennet
-

NordenBladet – Many banks in Norway, including Sparebank 1 Nord-Norge, DNB, and Nordea, are experiencing an increase in applications for deferred loan payments, also known as “avdragsfrihet.” This surge in requests is due to concerns about rising loan costs caused by recent interest rate hikes.

Deferred loan payments allow borrowers to pay only the costs associated with having a loan and postpone the repayment of the principal amount. It’s intended as a temporary solution to help borrowers navigate financially challenging periods.

Stein Vidar Loftås, Chief Communications, Community, and Sustainability Officer at Sparebank 1 Nord-Norge, noted an increase in the number of avdragsfrihet applications. He explained that some borrowers who are in generally stable financial situations may need temporary relief when unexpected expenses arise, such as car repairs or appliance replacements.

One individual, Runar, sought avdragsfrihet to manage increased loan costs resulting from recent interest rate hikes. He initially requested this option to have more financial flexibility during a challenging period but found it especially helpful as interest rates continued to rise.

High loan costs have become a concern for many borrowers in Norway due to interest rate hikes. Kjersti Haugland, Chief Economist at DNB, explained that avdragsfrihet is one way for borrowers to shield themselves from the impact of higher interest rates. However, she emphasized that borrowers can also consider refinancing their loans or extending their loan terms as options to mitigate the effects of rising rates.

While avdragsfrihet can provide temporary financial relief, it’s essential to understand that it postpones loan repayment rather than reducing the total amount owed. Financial institutions, such as Nordea, have reported a significant increase in avdragsfrihet requests, with contributing factors being post-holiday credit card bills and an uptick in divorces.

Despite the increase in applications, many borrowers have prepared for tougher economic times and have established financial buffers. Loftås noted that most borrowers have calculated their financial limits to be higher than current conditions, indicating that the rise in interest rates may not have drastic consequences for the average borrower. When faced with financial challenges, individuals often make adjustments by cutting non-essential expenses or postponing luxury purchases before considering changes to their home loans.

Rising interest rates in Norway have led to an increase in avdragsfrihet requests from borrowers looking for temporary relief from higher loan costs. While this option can provide short-term financial flexibility, borrowers should carefully consider their financial situation and explore other alternatives, such as loan refinancing or extending loan terms, to manage the impact of interest rate hikes.

Featured image: DBN Bank in Stavanger, Norway (NordenBladet)

Norway: Norgesgruppen earned NOK 1.6 billion before tax in the first half of the year

By
Helena-Reet Ennet
-

NordenBladet – The Norgesgruppen grocery chain earned NOK 1.6 billion before tax in the first half of 2023. Norgesgruppen owns, among other things, the Kiwi and Meny chains. The group had operating income of NOK 54.3 billion in the first half of the year. Last year, the figure was 49.4 billion, they report in a press release.

Profit before tax fell to NOK 1.61 billion, compared to NOK 1.64 billion last year.

“Our investments in price cuts have kept us competitive in a tough market, and we have achieved solid growth in operating income,” says Group CEO Runar Hollevik in Norgesgruppen.

“At the same time, we are able to make our operations more efficient in order to handle the increased costs, which is crucial in the times we are in when everything costs more,” he adds.

Investments in price cuts over a longer period weakened the operating margin by 0.4 percentage points from 3.4 percent to 3.0 percent in the first half of 2023, the company writes.

“The competition for customers in food markets is fierce, but taken as a whole, Norgesgruppen wins customers. Increased costs for important input factors such as goods, packaging and rent also affect results in the first half of the year. So far in 2023, the extraordinary cost increases from the suppliers have also continued.”

Featured image: Kiwi shop in Ål, Norway (NordenBladet)

Finland: Desku — a digital desk that makes everyday life easier for students and school employees

By
Helena-Reet Ennet
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NordenBladet – Various systems play a crucial role in supporting school operations, including the Primus-Wilma student management system and the digital platform Desku. Here’s a brief overview of these systems and their purposes:

Primus-Wilma Student Management System:

The Primus-Wilma student management system serves as a repository for essential student-related information, encompassing details such as student and guardian contact information, attendance records, evaluations, and educational history. Moreover, it acts as a conduit for communication between the home and the school. Parents can access Wilma via the Suomi.fi service, which verifies parental custody rights directly from the population information system. Following this validation, parents gain access to their child’s data on Wilma. The inclusion of the Suomi.fi service enhances Wilma’s information security by ensuring that only authorized individuals can access the student’s information.

Read more about Wilma here:
Finland: Wilma — Most popular teaching, learning and assessment platform

Digital Platform Desku:

Desku is a digital desk designed to simplify the daily routines of both students and teachers. It offers a unified view for distributing services, documents, applications, and electronic learning materials pertinent to school activities. Desku is browser-based, making it compatible with all environments and supportive of all single sign-on services in Finland. Through this digital desktop, users can access the various digital services essential for the school’s daily functioning, all under a single user ID.

You can log in to the Desku website here: Desku.fi

Photo: Desku
Keywords / Tags: Desku, Desku.fi, Opentunti, Opentunti.fi, Opentunti ry, Finland, digilaud, Suomi.fi

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