Professional Documents
Culture Documents
DNK Northern Lights JUNE 2021
DNK Northern Lights JUNE 2021
DNK Northern Lights JUNE 2021
LIGHTS
ISSUE 2//2021
ALSO IN
THIS ISSUE
09
20
Fjord Norway’s
Best Kept Secrets
26
An interview with
Eivind Ringstad
IMPORTANT DATES
SEPTEMBER
3rd – Fredagspils
23rd – Fårikål
NOVEMBER
27th – Julebord
CALENDAR OF EVENTS Message from
04 Your Board
November
5th Den Norske Klub Fredagspils
4th Pol Roger Dinner
9th The Art Circle
18th Beajoulais Dinner
27th Den Norske Klub Traditional Norwegian Julebord
December
3rd Den Norske Klub Fredagspils
9th 3 Clubs Carol Serrvice
11th In&Out Club Christmas Ball
17th In&Out Members End of Term Lunch
Although every effort has been made
to ensure accuracy, neither Den Norske
Klub in London nor the authors can
accept liability for errors or emissions.
HOW TO BOOK Views expressed in this newsletter
Please e-mail: secretary@dennorskeklub.co.uk are not necessarily those of Den
Norske Klub. No responsibility can be
EVENT CANCELLATION accepted for unsolicited submissions,
Please note that cancellation of events made less than transparencies or photographs. All
seven days before the event will not be refunded. prices and information contained in
event advertisements are correct at the
time of going to press.
Front cover photo ©Magnus Roaldset/Fjord Norway
2 www.dennorskeklub.co.uk
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are available on the Financial Conduct Authority’s website.
Message from YOUR BOARD
Dear Fellow Members
Welcome to the summer edition of monthly Fredagspilsen will be restarted
Northern Lights. as soon as we can, and we hope no later
Sitting 10,000 meters above ground, finally than August. Assuming the August drinks
on my way to Norway to see friends and can go ahead at the club in London, as an
family, I am reflecting on the past months. exceptional feature, and to celebrate that
While the long periods of lockdown and we can see each other again, please save
restrictions on seeing each other have the date, we will host a parallel Fredagspils
been hard, I was delighted to hear that so in Oslo! It will be on August 6th, 2021, and
many of you rushed out to enjoy drinks full details will be communicated nearer to
and dinner in the the time when we have more visibility on
Courtyard as the UK government / health restrictions.
slowly opened up. At the Klub AGM in June, I am delighted
While we did not to announce that Maria Effimova was
host our traditional re-elected for another three-year term.
black-tie 17th May The work she does as our Secretary, and
celebratory dinner her hosting of our events, particularly
this year, we were Fredagspils, is excellent. Alongside the
blessed by visits other board members, I am very confident
that she will continue to contribute strongly
to the continued success of the club in
the years to come, and I hope you will join
me in congratulating her re-election. It is
with sadness that I accepted resignations
from Irene Garland and Mats Boesen just
ahead of the AGM. I particularly want to
thank Irene for her relentless support for
Den Norske Klub these past years as a
Board Member. Her always smiling and
warm welcome at the monthly Fredagspils,
Julebord and 17th May celebrations, and
her candour and insights during our board
from two honorary guests, Ambassador
meetings. On behalf of all of us, thank you!
Strømmen, and Military Attaché John
Andreas Olsen and consort, during the We will be interviewing for their
late afternoon and evening. As you can replacements in the months ahead. If you
see from the pictures on pages 9-11, the feel you would like to contribute to the
more informal gathering managed to draw fun work at the club, please send Maria an
many of you out for the evening to enjoy email stating your interest and motivation.
Norwegian fare, Norwegian music and
In the current edition
Norwegian drinks. We hope we can arrange
of Northern Lights, you
the same all-day celebration also next year
will find an article from
on our national day.
the SEB Private Bank
For the autumn, you will find that we team on the latest
are planning the annual club Fårikål macro-outlook and
Supper and Traditional Klub Julebord, how to think of your
both listed on our calendar and both investment portfolio.
culinary reminders of our home-country You will also find an
accompanied by amazing aquavit, wine interview with the
and beer from our preferred partners. The professional musician
4 www.dennorskeklub.co.uk
more than 40 attendees, and I hope we
will see many more of you for the next two
events. The next one in September will
focus on prints and etchings, and the talk
will be given by Don Christensen of Chelsea
Arts in NYC. In October, we will attempt
an outing to Frieze. And in November we
will have the pleasure of hearing about
Aboriginal art from Arts d’Australie, a
Parisian gallery specialising in Aboriginal
and Oceanic Art.
Around the club, you can enjoy the
business centre. Should you want to have
your own cup whilst enjoying a lovely
cup of club tea or coffee while you are
working, you can get a DNK Klub Cup from
reception. All fully recyclable and made
from recycled bamboo! Should you need
dressing up and feel in need of a club tie
or a pair of cufflinks, the men’s club range
is also available to purchase from the
Eivind Ringstad and some suggestions Babmaes reception all year round and at
for hidden treasures to visit in Norway your leisure.
this summer by our supporters Widerøe I hope you enjoy reading this issue of
and FjordNorway. Seeing the renewed Northern Lights. On my side, I am very
momentum within NBCC, we sat down with much looking forward to seeing as many
NBCCs General Manager Kyrre Haugen to of you in person as possible at the next
hear more about his vision and ambitions available opportunity at the club and/or at
for NBCC. You can read all about this on the Fredagspils in August in Oslo!
pages 12-14, as well as get a preview of
Stay safe and see you all very soon!
their forthcoming events.
Warm regards, Warm regards,
The new Art Circle hosted its first online
event in May with art historian and curator Chair Cecilia Luras
Alistair Hicks. It was a great success with on behalf of Den Norske Klub Board.
Your Board
Cecilia Luras Chair Maria Efimova Board Member
www.dennorskeklub.co.uk 5
YOUR BOARD
6 www.dennorskeklub.co.uk
A huge thank you to all our partners
and sponsors for your strong support
of Den Norske Klub i London
www.dennorskeklub.co.uk 7
I Vo l u n t e e r
Are you keen to make
a difference, contribute
to the fun times in our klub?
A vacancy has opened up for a happy, dedicated
and fun individual to join Den Norske Klub board.
For more details and to apply please contact
Chair Cecilia Luras cecilia@dennorskeklub.co.uk
before May 15th 2021.
8 www.dennorskeklub.co.uk
17th May Celebratory
Dinner 2021
Continued overleaf
www.dennorskeklub.co.uk 9
10 www.dennorskeklub.co.uk
www.dennorskeklub.co.uk 11
AN INTERVIEW WITH
KYRRE
HAUGEN
GENERAL MANAGER, NBCC
We had the pleasure of sitting down with
entrepreneur and current General Manager
for NBCC, Kyrre Haugen, earlier this month.
When and why did you decide to continue within the water industry and I
started selling UK made industrial products
come to the UK?
to Norway. Soon after I started a company
I came to London circa 20 years ago called ProPlan International Ltd partnering
to pursue a degree at the University with UK-based manufacturer Amazon
of Westminster. A BA in Business Filters Ltd selling their filtration solutions to
Management. Following graduation, companies such as Aker BP and NorSun.
I started at the RadissonSAS Portman
Hotel. The first venue for what has now You were a board member with
become a great tradition among the
NBCC before becoming the
Nordic Chambers of Commerce; Nordic
Drinks. It was actually me and my boss organisation’s CEO, what motivated
who came up with the idea of starting you to take on the role as General
Nordic Drinks and here we are nearly Manager?
20 years on. A few years ago, I branched out
into a second venture focused on
But then you started your own environmentally friendly chemicals and
business? cleaning products. I built the brand,
Yes. I initially trained as a plumber and developed the commercial proposition,
before starting my university studies, and while I had quite some success, I soon
I spent a few years working for the discovered that withing this segment there
municipality within water management, was an awful lot of competition making
followed by a short stint selling parts to the business proposal less attractive than
the water industry in Grenland, the county my previous ventures. Suddenly I found
around Skien. When I decided to start myself and my businesses in a “prolonged
my own business, it seemed obvious to vacuum” and when the role came available
12 www.dennorskeklub.co.uk
it felt quite natural to apply and fortunately the UK and NBCC want and need to be
the board thought so too and I started as part of this. And while we’re talking about
NBCCs GM in October 2019. After all, I’ve the northeast let us not forget mentioning
been a NBCC member for 20 odd years. Wastefront and the founders Christian,
Vegard and Inge. Nothing but kudos to
NBCC has made some great moves them! We’ll have a hectic events autumn
in the last year. but as “tasters” I can mention NBCC’s
Thank you. I am very proud of what Continued overleaf
we have achieved for NBCC in the past
year. Since joining as its CEO in
2019, we have been re-defining
what NBCC is and where it fits
in with the other Norwegian
associations and lobby groups
in the UK market. Established
in 1906, NBCC was born the
same year Norway and the UK
established diplomatic relations.
That is special and wonderful,
and we will be celebrating
our 115th year anniversary the
26th of November with a very
special party at Unit X in the
middle of Covent Garden. NBCC
was established by and for the
shipping industry which also will
be celebrated in “a subtle and
tasteful manner”.
www.dennorskeklub.co.uk 13
very first tech conference with IKT Norge, And do you think beer is the way
Team Norway’s Opportunities 2021, Green
forward?
Shipping-Future Fuel, Investing in Arts
and several Energy Transition events. Many things can be solved over a good
And we will, of course, continue our Norwegian beer from e.g. Lervig Brewery!
excellent cooperation with the other Nordic
Chambers. How do you see NBCC cooperating
with the other Norwegian
organisations in London?
We work in close cooperation with the
Norwegian Embassy, Innovation Norway
and Sjømatsrådet. We are one of the
pioneers behind Team Norway. Later this
year you will see this cooperation come
into full bloom with the Opportunities
2021 conference which will take place in
October. It will focus on the ongoing energy
transition, as Europe’s largest energy
producer, it is paramount to be part of the
solution to today’s climate crisis. With our
members we hope to be at the forefront
of the discussion. Another thematic which
is very important to Norway is shipping.
During London International Shipping Week
In September, we will be leading a seminar
on green shipping and the future of fuel. I
am very much looking forward to both of
these events.
Final words?
I am passionate about Norwegian-British
relations and I want NBCC to be at the
How about on the social front? centre of that creative process. The enabler
Soft networking is incredibly important that brings us all together. I want to thank
in business and Nordic Drinks, which we particularly Equinor and DNV, our Premier
organize with the other Nordic Chambers partner members, for their relentless
of Commerce, is at the heart of this. support, both economic and intellectual.
During the past year, when most countries Without them we would not have been able
were in lockdown, we started online beer to continue the great work we are doing.
tastings. These were a huge success and I am also very thankful for the support
brought people together in a non-business we have received from the Norwegian
context. Relations cannot just be about the Embassy, Innovation Norway, Sjømatsrådet
money… It is about finding common ground, and Den Norske Klub! To those of you who
common interest, and about enriching each are not yet members of NBCC, I invite you
other with new insights and experiences. to come join our journey!
14 www.dennorskeklub.co.uk
ESSAY COMPETITION
CURRENT GEOPOLITICS
AND CONFLICT
The In & Out Club is calling for entries to its 2021 Essay Prize.
The purpose of the competition is to encourage original thought
and analysis of current geopolitics and conflict. The competition is open
to all members of the In & Out Club and their families, and to any
person who is a member or former member in good standing of the
armed and other government services of the UK or its treaty allies.
www.dennorskeklub.co.uk 15
I N V E S TO R CO R N E R
GLOBAL
EQUITIES
Prices and
earnings full
steam ahead for
another while
Massive stimulus measures have kept the
world economy afloat while we await the
reopening of economies. Companies have
greatly surpassed earnings forecasts during
the year since the pandemic broke out,
despite a steadily rising profit outlook.
Valuations, high commodity prices,
component shortages and rising long-term
bond yields are sources of concern, but it is
still too early to slam on the brakes. When
the growth rate levels out and persistently
higher long-term bond yields are imminent,
valuations may be challenged. We are
approaching that point but are not quite
there yet.
16 www.dennorskeklub.co.uk
L
ike economic growth forecasts, and price increases as well as successful
corporate earnings expectations at the cost controls. The five largest companies
global level have gradually risen over in the MSCI World Index, which account
the past 12 months. Last year’s aggregate for about 12 per cent of market value –
earnings certainly came in weak – down 18 Apple, Microsoft, Amazon, Alphabet and
per cent – but this was still clearly above Facebook – all delivered impressive reports
forecasts from last spring. Upward revisions with strong growth and high profitability.
were then matched by corresponding After just over half of Q1 reports had been
downward revisions for 2021. But this published in the US, earnings surprised on
spring, earnings forecasts for the current the upside by 23 per cent and sales by 4
year have been adjusted upward again, per cent. The fact that earnings forecasts
have been significantly upgraded in recent
back to a level of around 30 per cent on a
months (which has also been reflected
global basis. Sharply higher profits are part
in share prices) probably explains the
of the picture in an economic recovery.
somewhat lukewarm stock market reaction
Given these upgraded growth forecasts so far.
and massive stimulus measures, there is still
room for positive surprises in the coming
quarters, albeit not to the same extent. In Valuations have fallen but remain
2022, however, profit expectations are at historically high
more normal levels, at +11 per cent globally.
Source: Bloomberg
The chart shows price-to-earnings (PE) ratios for the
MSCI All Country World Index of equities, which surged
after their low point in early 2020 and have remained
Source: Bloomberg historically high.
18 www.dennorskeklub.co.uk
increases and exaggerated valuations in
Faster earnings rebound in US and many cases. However, the megatrend we
China than in Europe are witnessing in the form of emission
control measures is in its infancy, which
means that the future is bright for
companies in this cluster.
To summarise, we believe that current
trends of a cyclical nature will persist in the
near future, but that a more defensive focus
on sectoral and company selection will be
advisable as growth rates subside during
the second half of 2021.
Source: Bloomberg
The chart shows the performance of the MSCI World
Small Cap Index, the MSCI World Index and the MSCI
World Health Care Index in local currencies during the
past 12 months.
Disclaimer
This communication is made by Skandinaviska
Enskilda Banken AB (publ), London Branch for
informational purposes only. Our London Branch
is available to introduce you to the SEB Private
Banking network outside the United Kingdom. SEB
London Branch is authorised and regulated by the
Swedish Financial Supervisory Authority. Deemed
authorised by the Prudential Regulation Authority.
Subject to regulation by the Financial Conduct
Authority and limited regulation by the Prudential
Regulation Authority. Details of the Temporary
Permissions Regime, which allows EEA-based
firms to operate in the UK for a limited period
The above charts show 12-month earnings forecasts
while seeking full authorisation, are available on
expressed as index units on the S&P 500 (top), CSI
the Financial Conduct Authority’s website.
300 (middle) and EuroSTOXX 600 (bottom) equity
indices.
www.dennorskeklub.co.uk 19
Fjord Norway’s
BEST KEPT
SECRETS Text by
Fjordnorway.com
20 www.dennorskeklub.co.uk
Karmøy beach Cheese from Tingvoll
cheese
Photo © Ida Kristin Vollum - Vest Photo
Utsira
Photo © Karianne Klovning / Fjord Norway
Sagastad
Photo © Fjord Norway / Ruben Soltvedt
22 www.dennorskeklub.co.uk
Kalvåg Kayaking at Tafjorden
Photo © Fjord Norway / Nordlandblog
boathouses of historical Bud for seaside yourself away and head ashore? Head for
fun. In tiny Solvorn, on the Lustrafjord, you’ll “havstuer,” or sea cottages, on Smøla or
find a cafe, gallery, convenience store and Håholmen for a taste of historical fishing
Norway’s oldest hotel. Stop by Sand, where village living. Feel the ocean spray from
clusters of charming white homes gleam in your seaside accommodations or set sail on
the Sandsfjord, to soak in historic character a fishing expedition or a sea eagle safari.
— like its 168-year-old wooden church and
cemetery — and linger in inviting shops,
galleries and cafes.
8. STILLER WATERS RUN DEEP
Millions of cruise passengers may have
sailed the fjords — but most have only
7. ISLAND IDYLLS
skimmed the surface. Dive deeper into
Scores of rocky islands, islets and skerries Fjord Norway by exploring the myriad —
dot our breathtaking coast and make for and much quieter — arms and branches of
exciting day trips, enticing dining excursions our better-known waterways.
and exotic overnight getaways. Hop aboard
Take to the stunning Tafjord, UNESCO-
the postal boat in Solund and go island-
protected like busy Geirangerfjord, for
hopping with the locals between Norway’s
solitary kayaking or mountain hikes
westernmost islands. From Alesund, cruise
in calmer climes. Summertime reveals
to dinner at Kami Skotholmen, serving up
stunning views of isolated mountain
fare crafted from the freshest local seafood
lake Eikesdalsvatnet, inaccessible much
and seasonal produce in a 19th century
of the year due to heavy snow. Board a
island warehouse. On Selja, embark on a
fjord sailing on the tranquil Lusterfjord,
guided tour of millennium-old monastery
whose fruit-tree-lined shores have inspired
ruins, among Norway’s oldest. Can’t tear
generations of artists. And stroll among
Continued overleaf
www.dennorskeklub.co.uk 23
Himakånå Dronningstien
Photo © Mattias Fredriksson / Fjord
Norway
Pulpit rock
24 www.dennorskeklub.co.uk
MUSIC IN
THE TIMES
OF COVID-19
AN INTERVIEW WITH EIVIND RINGSTAD
Interview by
Gabriel Tarrason Risa
(February 2021)
26 www.dennorskeklub.co.uk
E
ivind made his professional to truly indulge a piece before moving on
breakthrough in 2012, when he won to another. The pandemic changed all of
the Eurovision young musicians that. Suddenly the music stopped, nothing
contest. By now he has been awarded was happening anymore. At first, people’s
several prices and fellowships, including the general optimism made it so that a few
Arve Tellefsen musician price, the Equinor concerts were still commissioned and
price, the Borletti-Buitoni fellowship award. for once I had time to truly rehearse, but
He was also selected for the BBC’s New then all the cancellations started coming.
Generation Artists Scheme and for the It breaks the spirit when one works for
Crescendo mentor programme, led by Leif weeks, only to receive a sorry call telling
Ove Andsnes and Janine Jansen. you the gig is off. There have been a couple
of digital concerts which have been good
In recent years, Eivind has become a and interesting experiences, but in the end
regular fixture of the classical music scene it’s really not the same as having a live
in Europe, playing with among others: the audience.
Oslo, Copenhagen, and Bergen philharmonic
orchestras; several BBC orchestras; the Forgive me for asking, but my friends
Trondheim, Kuopio, and Kristiansand in England tell me the pandemic has
symphony orchestras; the Norwegian and been particularly tough on musicians
the Vienna radio orchestras; the Norwegian
chamber orchestra; and the Italian baroque
– how was it in Norway? Was there
orchestra Accademia dell’Annunciata. a while back there with only rice
stocked in your pantry?
I mean… freelance musicians are rarely
About this interview
exceptionally well compensated in the first
Around the same time as Eivind place. And yeah, the lack of concerts did
transitioned to playing the viola, he and I no good to my wallet. That said, in Norway
played together in a chamber orchestra there has been some support for freelance
in Oslo. Already then, it was already musicians, and so I have been able to
amply clear that Eivind’s talent was a continue with my profession throughout the
cut above the rest. Since then, we took pandemic.
different paths. I became a scientist, while
Eivind dedicated himself to music. It had In search of a deeper sound
been a while, and so I was elated that
Eivind readily agreed to do this interview. The virus and the lockdowns made it
critical, but a career in classical music
always seemed perilous to me. When
Music in the times of COVID-19 at the crossroad, did you not desire to
Long-time no see, all quiet on the play it safe? What about job security
Norwegian front? and a work-life balance? What now
It’s fair to say things are quiet, perhaps drives you down the river?
quarantined.
It wasn’t planned from an early age; I tell
you that. Music grew on me. I remember
Indeed, let’s jump right into this – how
that back in the early days I didn’t always
is it to be a professional musician in enjoy learning complicated, virtuoso pieces
the times of COVID-19? on the violin. However, when I discovered
There’s this very distinct feeling, backed the viola, I felt captivated and could not let
up by now by a repeated experience, of go–regardless of the risk.
being cancelled. During normal times, music The viola is known for its darker sound. The
makes for a fast-paced life. There’s always a repertoire for the instrument is written very
concert, a new piece, another project… And much for that quality, and so I found myself
it feels like there’s never enough time embracing a different style of play and
Continued overleaf
www.dennorskeklub.co.uk 27
Håkonshallen, June 2021. Evind playing the Dvorak Piano Quintet with Leif Ove Andsnes, Sandra Lied
Haga, Ludvig Gudim, and Sonoko Miriam Welde, as part of the Bergen International festival.
falling in love with it. After one year with the violin and orchestra, but arranged for viola
viola, I finally found the inspiration to work (of course!) by Nils Thore Røsth.
on very challenging pieces–with a particular
appetite for Paganini’s Caprices. Thank you, I’ll go listen to them right
I also enjoy the role of the viola in chamber
away.
music. Alongside its more supportive role, Enjoy.
some of the most beautiful melodies ever
made have been dedicated to the viola. Learn more about Eivind at
https://www.eivindringstad.com
Further listening
Thank you for talking with me today.
Before you go, could you advise our
readers on some pieces by Norwegian
composers to listen to this summer?
Sure. If we’re talking Norwegian music,
there’s no way one could get past Grieg.
The violist that I am, I’d recommend the
string quartet in G minor and also the lesser
known unfinished string quartet in F major.
My personal favourite these days though is
the Christian Sinding suite in old style for
28 www.dennorskeklub.co.uk
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