The child representative believes the Justice Minister has misunderstood the law

Tuesday 3 July 2018

– Custody is a punishment we provide for the most serious crimes. I can not see for myself that in Norway we are going to start distributing custody to children in the early teens, “says childcare representative.

Last week, Dagbladet wrote that ten children under 15 years account for 187 crimes in the capital, according to figures from the Oslo police.

Among the offenses are rape by a child under 14 years of age, firefighting, robbery, threats with knife, helmet, car theft and violence against teacher.

Justice Minister Tor Mikkel Wara called the numbers “desperate reading”, and was aware that Oslo’s streets are not safe. He wants to use more custody of children to cope with crime.

– Whether it’s a custody or a shipment from the city; These children must be taken out of Oslo. If today’s legislation is preventing it, we should change the law, “said Wara to Dagbladet.

– Very bad signal

Acting Children’s Ombudsman Camilla Kayed strongly warns against the Minister of Justice’s proposal. Kayed reacts specifically to the use of child custody as a tool in this context.

– The Children’s Convention provides clear indications that the imprisonment of children should be the last last resort. I think talking about custody is a very unfortunate signal from Wara, says Kayed to Dagbladet.

Prime Minister Erna Solberg (H), after Wara’s surprising play, also expressed a negative opinion on the use of child custody.

Confusion about custody

“Today’s legislation also gives the child welfare authority the opportunity to place children in coercion, if this is what Wara believes in” taking children out of Oslo “, Kayed said.

She points out that the Child Welfare Act today provides the opportunity to place children in a treatment or training institution for up to twelve months without consent.

Kayed also believes that custody, which is the strictest sentence of the law, should not be used on children.

“I have to say I do not understand what Wara actually means here. Custody is a punishment we provide for the most serious crimes. I can not see for myself that in Norway we are going to start distributing custody to children in the early teens.

There is only one case where the Norwegian state has given custody to a person under the age of 18, according to the Children’s Ombudsman. It was also a person over criminal low age, not below, as Wara said.

“We are talking about children who have committed very serious offenses. Why is custody then wrong?

“What we know about being sent to an institution on duty is that it rarely helps. It’s a daunting and very short-term measure that does not address the actual problem. It seems that Tor Mikkel Wara does not understand what measures are working. There are long-term measures – family prevention, preventive work at the police – which can reduce crime among children, says Kayed.

Prevention, not custody

The acting child ombudsman shows that children who commit offenses have often been exposed to domestic violence. Therefore, this is where she will begin to solve the problem.

– These are families that need help from the children are small, helping to cope with everyday life in a good way. This way we prevent children from committing crime later in life. It’s incredibly important that the police get stable funds to carry out preventive work against the families, “she says.

City council leader Raymond Johansen (AP) told Dagbladet Thursday that he did not experience Oslo as unsafe, as Wara claimed the streets of the capital. Kayed is also aware that Oslo is a safe city.

“97 per cent of children in Oslo are law-abiding. It is very unfortunate to talk about the custody of the children, and it is equally unfortunate to say that Oslo’s streets are unsafe, says Kayed.

Chief economist: This means that we avoid interest rate fluctuations

Tuesday 3 July 2018

Never in history, interest rates globally have been as low as in the last ten years. Chief economist sees few reasons why this will change with the first. But the economists are shrinking.

Interest rates continue to rise in the United States, and Øystein Olsen announced at the monetary policy meeting earlier this month that Norges Bank is most likely to raise interest rates in September.

With rising interest rates nationally and internationally, the discussion about a potential interest rate strike on the stairs.

Chief economist at Handelsbanken, Kari Due Andresen, is one of those who believes that interest rates will continue to be low.

“We see that there are three reasons why interest rates will keep moving forward: Demographic development, low productivity growth and demand for secure investment are all pulling towards this,” says Andresen.

More elderly people

In western economies, life expectancy continues to increase and people have fewer children. This means that the average population is older than it was before.

From the ages of 25 to 60, people save their income. Towards the end of life, they spend the money they have spared between from the age of 25 to the age of 60. When the average age of the population increases, the population conserves and consumes more of their income.

– We have a good overview of the demographic development. People are on average older, and this point draws towards continued low interest rates in the future, says Andresen.

Economic growth is driven by the fact that productivity in the economy is increasing. In the west, productivity growth has been lower than it was in the period when interest rates were at a higher level than today.

Handelsbanken sees no clear signs that productivity will increase in the future. Isolated also indicates that today’s interest rate situation is the new norm, says Andresen.

Since the financial crisis, many have either placed their money in the bank or invested in fixed income securities. Interest rates on these investments are kept low due to high demand.

– Demand for secure investments at today’s level will keep interest rates low. We see no obvious causes for this to change, “says Andresen.

Chief economist: This means that we avoid interest rate fluctuations

Never in history, interest rates globally have been as low as in the last ten years. Chief economist sees few reasons why this will change with the first. But the economists are shrinking.
<p> In Japan, the key rate has been below 1 per cent for over two decades. The Japanese economy is an example that economic growth may be moderate despite sustained low interest rates. </ P>

In Japan, the key rate has been below 1 per cent for over two decades. The Japanese economy is an example that economic growth may be moderate despite sustained low interest rates. Photo: Toshifumi Kitamura AFP

Interest rates continue to rise in the United States, and Øystein Olsen announced at the monetary policy meeting earlier this month that Norges Bank is most likely to raise interest rates in September.

With rising interest rates nationally and internationally, the discussion about a potential interest rate strike on the stairs.

Chief economist at Handelsbanken, Kari Due Andresen, is one of those who believes that interest rates will continue to be low.

“We see that there are three reasons why interest rates will keep moving forward: Demographic development, low productivity growth and demand for secure investment are all pulling towards this,” says Andresen.

debt Concern

Since March 2016, Norges Bank has kept its key interest rate unchanged at 0.5 per cent. Handelsbanken believes that for the first time in two years we will find that the interest rate is set.

Handelsbanken believes that interest rates will be raised by 0.25 percentage points at the next monetary policy meeting in September, and that it will be raised twice in 2019. Then they believe that Norges Bank will keep the key rate unchanged.

Norwegian households have a lot of debt on average. This makes them vulnerable to excessive interest rates. Excessive interest rates can lead to a higher proportion of Norwegian wages being paid, which in turn may have a negative impact on the activity in the Norwegian economy.

Naturally, Norges Bank wishes to prevent this, thus taking into consideration the debt situation of Norwegian households in the interest rate setting.

disagree

Erik Bruce, chief analyst of Nordea, does not share Andrew’s opinion about the future

interest rate developments.

– Nordea believes in one rate increase now in September and two next year. We have not made any forecasts beyond this. We believe that a steering rate of 2.5-3 per cent is right in the long run, says Bruce.

Nordea is critical of the three reasons Handelsbanken mentions. Bruce argues in particular about the arguments behind demographic development and low productivity growth.

Sparrows who previously contributed to lower interest rates now go to retirement. One can argue that this will cause us to get less savings, as this generation will go from saving its income to tearing out saved assets.

Low productivity growth can lead to higher inflation, as the increase in money in circulation may exceed the increase in the production of goods. If inflation is too high, the central bank will respond by setting up the interest rate to reduce inflation. It may be that this point draws towards a higher interest rate, not lower, Bruce believes.

Uganda introduces tax on social media

Tuesday 3 July 2018

Uganda has introduced taxes on the use of social media such as Facebook, Twitter, Instagram and WhatsApp.
The tax was proposed by the country’s long-standing president Yoweri Museveni, who earlier this year complained about the proliferation of gossip in social media.

Social media users in Uganda must then pay 200 shillings a day, around 5 cents (US), in advance to access social media. This comes on top of what else they have to pay to use the internet.

According to the authorities in the country, around 17 million of Uganda’s 41 million inhabitants are active on the internet and the new tax is not well received.

“The reasons for introducing this tax are antisocial, and it is not development friendly,” says Human Rights Attorney Ladislaus Rwakafuuzi.

Ugandan government hopes that the new tax will bring about NOK 820 million a year.

It is not the first time Uganda’s authorities try to slow down the use of social media, which also happened during the February 2016 elections.

All access to Twitter and Facebook was closed in connection with the election, referring to unspecified threats to the country’s security.

The election ended with victory to Museveni, to protests from the opposition and criticism from international observers.

800 crypto currencies are worthless

Tuesday 3 July 2018

A large number of cryptic currencies that appeared last year were fraud, according to the US website.
Over 800 of the crypto currencies that have appeared in the last half year are now sold for less than $ 0.01. Many newly-launched crypto currencies were fraudulent or did not result in anything, according to CNBC.

Since 2017, initial coin offering (ICO) has exploded. In 2017, investors bought digital currency from newly created companies worth $ 3.8 billion, equivalent to NOK 31 billion. So far in 2018, this sum has risen to $ 11.9 billion, or NOK 97 billion.

The price of the most valuable crypto currency bitcoin has fallen 70 percent since record year 2017, and is Monday at $ 6,370 per coin, according to data from Coinmarketcap.

China steals the “crown jewels” of American technology

Tuesday 3 July 2018


The white house accuses China of stealing American technology. That’s how they mean it’s done.

Donald Trump has been awkward about how to stop China stealing American technology. It was expected that a final decision came before Saturday, but instead he accused the EU of stealing as much as China.

Until recently, there have also been no concrete allegations about how China steals technology.

Now the White House has published a 36-page report on five ways.

1. Theft

China is supposed to literally steal intellectual property through physical theft and hacking.

China’s response to the CIA, the Ministry of State Security, will be behind many of the thefts.

According to the report, a Florida woman was sentenced to smuggle submarine parts from American companies to a Chinese university affiliated with the Chinese Navy.

2. Legislation

Arne Melchior is researching international trade in NUPI. He holds a doctorate in economics from the University of Oslo.

The laws in China make it difficult for foreign companies to retain their technology for themselves. For example, strict requirements are imposed on companies that establish themselves in the country.

“There is some truth in Trump’s charges, and the EU has raised criticism of China on some of the same points. Among other things, companies that establish themselves in China through a merger with a local company, joint ventures, are often forced to transfer their knowledge to them, says senior researcher Arne Melchior at the Norwegian Foreign Policy Institute (NUPI) to E24.

3. Capture

China is the world’s largest producer of raw materials used in the production of high-tech products. The authorities have introduced export restrictions on a number of these materials.

Export restrictions may force companies using these raw materials to move their production to China, according to the report.

4. Information retrieval

The white house accuses China, among other things, of affecting Chinese people working with technology in the United States to retrieve information for them.

For example, it is suggested that the Chinese phone manufacturer Huawei collaborates with the University of California, Berkeley, about artificial intelligence to see how the technology can be used militaryly.

5. Investments

China plans to become world leader in a number of technology fields by 2025, the so-called “Made in China 2025” plan. They invest heavily in companies in line with this plan and facilitate the regulation of these sectors.

The report explains that this is problematic because companies that benefit from this policy are more susceptible to control by Chinese authorities.

– Trump already has the gear he needs

Melchior believes Trump does not necessarily have to go to trade war, as he has threatened and partially introduced, to bend with China. There are already systems for this in the World Trade Organization (WTO).

– Trump has criticized the WTO for failing to deal with China. But the WTO has introduced the so-called TRIPS agreement after American pressure, to secure intellectual property, thus giving Trump the tools he needs. The United States has appealed to China for WTO on the basis of the agreement, but chose to introduce 25 per cent duty on goods worth $ 50 billion before the negotiations were completed, explains Melchior.