Everyone in Norway is technically a millionaire, thanks to the country’s massive oil supply.
A preliminary counter on the website of the central bank, which manages the fund, rose to 5.11 trillion crowns ($828.66 billion), fractionally more than a million times Norway’s most recent official population estimate of 5,096,300.
It was the first time it reached the equivalent of a million crowns each, central bank spokesman Thomas Sevang said.
Not that Norwegians will be able to access or spend the money, squirreled away for a rainy day for them and future generations. Norway has resisted the temptation to splurge all the windfall since striking oil in the North Sea in 1969.
Note to self: Obtain Norwegian citizenship.
16:46 // 8 months ago
Protesters toppled a monument to Bolshevik leader Vladimir Lenin on Sunday during the biggest march and rally in central Kiev since President Viktor Yanukovich galvanized his opposition by turning down a trade deal with the European Union.
ICYMI, they toppled the Lenin statue, a pivotal part of the uprising against the government’s decision to align with Russia over the EU. The opposition has called a 48 hour ultimatum to have the prime minister disband the government before marching into his private residence. Watch this set of news.
12:50 // 9 months ago
Marina Lewycka: Protesters in Kiev who want to be free of a stifling past and Russian power may find western politicians are not so different
Interesting angle on the ongoing new revolution brewing in Ukraine over foreign policy with Russia, the EU. It’s really a catch-22 for these demonstrators, protesting against relations with Russia but then, as the writer states, the EU isn’t so great.
14:00 // 9 months ago
More than 100,000 demonstrators chased away police to rally in the center of Ukraine’s capital on Sunday, defying a government ban on protests on Independence Square, in the biggest show of anger over the president’s refusal to sign an agreement with the European Union. Thousands of demonstrators tried to storm the nearby presidential administration building, but were driven back by riot police using tear gas and flash grenades, which produce a loud bang but are not intended to cause injury.
Something to watch. A new crop of anti-government protests has grown in Ukraine after their highly controversial EU/Russia decision.
12:49 // 9 months ago