Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksStilo Share News (STL)

  • There is currently no data for STL

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

FACTBOX-Norway confidence vote may trigger change of government

Mon, 19th Mar 2018 12:42

By Terje Solsvik

OSLO, March 19 (Reuters) - Norway's parliament votes onTuesday on a motion of no confidence in the justice minister,and the centre-right government is expected to resign if it ispassed.

Sylvi Listhaug, of the right-wing Progress Party, has causeda political storm by accusing the opposition Labour Party - thetarget of a 2011 massacre - of putting terrorists' rights beforenational security.

The outcome of the vote will depend on the small ChristianDemocratic Party (CDP), traditionally a supporter of thegovernment, which on Monday held meetings to decide itsposition.

Snap elections are not allowed, and Norway's next is not dueuntil 2021. Conservative Prime Minister Erna Solberg might beable to form a new cabinet, but the task could fall to Labourleader Jonas Gahr Stoere if the CDP switches sides.

Below is a summary of key policy issues:

SOVEREIGN WEALTH FUND: REFORM DELAY?

With more than $1 trillion saved from Norway's oil and gasindustry, parliament faces key questions over how to organisethe fund and whether to allow investments beyond the foreignstocks, bonds and real estate it currently holds.

The government is due to present a white paper on the fundin April but a change of power would almost certainly lead to apostponement.

Parliament must also decide on whether to back the fund'swish to drop the shares of oil and gas companies from itsbenchmark index, though this issue is unlikely to come to a voteuntil 2019 or later.

PRIVATISATION OR NOT?

The Conservatives are open to reducing the state's stakes inseveral companies, notably in telecoms firm Telenor,where it has permission from parliament to cut its holding to 34percent from 54 percent.

Labour said ahead of last year's election it would askparliament to reverse the Telenor sales permit.

A plan to change the name of oil firm Statoil couldbe at stake. The current oil minister backs the board's plan torename the company Equinor, but Labour has voiced scepticism.

TAXES: UP OR DOWN?

The Conservatives seek cuts in taxes for corporations, onpersonal incomes and in wealth and property taxes. They wanttariff cuts to promote free trade.

Labour vowed in last year's general election to raise taxesfor above-average earners and the wealthy by up to $2 billion toimprove public services and reduce reliance on the sovereignwealth fund.

It blamed its defeat partly on the tax strategy, and said itmight be more reluctant to hike income taxes in the future. Theparty has backed a government plan to cut corporate taxes.

OIL AND GAS: TO DRILL OR NOT?

In return for support from the centrist Christian Democratsand the Liberals, Solberg agreed last year to extend amoratorium on oil and gas exploration around the Arctic Lofotenarchipelago for another four years.

If the government collapses, the agreement will be void, andthe fate of drilling in the area, thought to hold vastresources, will ultimately be decided by parliament.

If the Conservatives were to rule alone, Solberg could seekthe support of Progress and Labour to move towards exploration.

This would further sour relations with the two centristparties, so Solberg may instead use the question of drilling asleverage to win continued support.

Labour has sought a compromise that could see some of thearea opened for drilling, but faces a tricky dilemma becauseopposition within the party to Lofoten exploration is growing.(Editing by Gwladys Fouche and Andrew Roche)

More News
19 Sep 2014 11:07

DIRECTOR DEALINGS: Stilo International Chairman Buys 800,000 Shares

Read more
11 Sep 2014 12:05

UK MIDDAY BRIEFING: Next Profits Up Again, But Shares Drop

Read more
11 Sep 2014 10:53

Stilo International drops after earnings slide

Shares in AIM-listed Stilo International took a big hit on Thursday after earnings dropped by around half in the six month period ended 30 June. The firm, which develops content processing technology, posted earnings before interest, tax, depreciation and amortisation (EBITDA) of £48,000 (2013: £97,

Read more
11 Sep 2014 09:27

Stilo International Plunges On Profit, Revenue Declines

Read more
15 May 2014 10:46

Stilo International Trading In Line With Expectations

LONDON (Alliance News) - Stilo International PLC said Thursday trading in the first four months of 2014 has been in line with management expectations, buoyed by a an evolving market and a number of customer wins during the period. In a statement ahead of Stilo's annual general meeting Thurs

Read more
13 Mar 2014 12:19

Stilo International Profit Up As Customer Wins Boost Revenue

LONDON (Alliance News) - Stilo International PLC Thursday expressed confidence for further progress in 2014, as it posted a rise in pretax profit in 2013 with revenues boosted by new customer wins. The software company posted a maiden total dividend for the year of 0.15 pence, including the

Read more
12 Sep 2013 09:50

Stilo Profits Increase On Strong Sales; Declares First Dividend

Read more
12 Sep 2013 07:48

Stilo to pay first and special dividends after profits leap

AIM-listed computer technology provider Stilo International is set to pay its first dividend, along with a special dividend, after delivering an upbeat first half report. The dividend payment will be 0.02p per share, while the special dividend will be 0.1p a share. Pre-tax profit for the period

Read more
24 Sep 2012 16:35

IG Group's COO more than halves stake

Peter Hetherington, the Chief Operating Officer of spread betting firm IG Group has more than halved his stake in the company just a fortnight after it reported a decline in first quarter revenue, as it ran up against strong figures from a year earlier, when markets were particularly volatile. Het

Read more
15 Mar 2012 12:06

Small caps round-up: HMV, Corero, ANGLE ...

HMV Group, the struggling entertainment media seller, has confirmed that it is still pondering what to do with its live music business. HMV added that a number of parties have indicated an interest in acquiring the business. There has been press speculation recently about who might be interested in

Read more
8 Sep 2011 14:27

Stilo looks to e-books as profits rise

Text conversion software specialist Stilo International is planning to invest in "e-book" technology after reporting a sharp rise in pre-tax profits in the half year to 30 June. Sales were flat at £1.1m, but pre-tax profits rose to £92,000 from £50,000 over the same period the previous year. Stil

Read more
8 Aug 2011 12:14

London midday: Stocks tumble as jitters grip markets

London's leading share index has given up a short-lived rally and is posting triple-digit losses as nerves over the global economic situation grip the markets again. Mining giants such as Rio Tinto and ENRC are out of favour, though precious metal miners such as Randgold Resources and Fresnillo are

Read more
8 Aug 2011 11:09

Cisco order boosts Stilo International

Stilo International, a provider of systems that convert text between different computer packages, has won an order for its "cloud content conversion service" with the US IT giant Cisco. Stilo will convert 20,000 of pages in Adobe format into the DITA (Darwin Information Typing Framemaker) standard,

Read more
18 Mar 2010 13:05

Stilo swings to loss

Shares in Stilo dropped after the software firm swung to a loss in what it called a 'challenging' year. The loss before tax came to £379,000 in the twelve month period ended 31 December compared with a profit of £333,000 last time. Sales revenues decreased by 33% to £2.01m. "The general economic o

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.