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Bahamas converts Finland taxation deal to automatic

FINLAND

HELSINKI: Bahamas yesterday upgraded its tax information exchange agreement with Finland to the automatic variety, as it bids to meet global standards by September 2018. K P Turnquest, deputy prime minister, signed the Protocol to Amend the Tax Information Exchange Agreement between the Bahamas and Finland, with the latter’s ambassador to the Caribbean, Jukka Pietikäinen, signing on behalf of the ... Read More »

Finland Aug trade deficit narrows less than estimated

FINLAND

  HELSINKI: Finland’s foreign trade deficit decreased less than initially estimated in August, latest figures from Finland Customs Office showed Tuesday. The trade deficit for August was revised up from EUR 150 million to EUR 187 million. In the corresponding month last year, the shortfall was EUR 481 million. The value of exports surged 18.0 percent year-over-year in August, confirming ... Read More »

Tech industry lobby: Finland’s recent economic upturn a fluke

FINLAND

  HELSINKI: The brisk rise in Finland’s export sector fortunes may be coming to a halt sooner rather than later, according to a report published Wednesday by lobby association Technology Industries Finland (TIF). The group says that domestic technology companies received far fewer commissions in July—September than in the first quarter of 2017. The growth of staff sizes in the ... Read More »

Finnish Border Guards detain four in suspected international people smuggling ring

FBG

Finnish Border Guards said Thursday that they had held four people suspected of involvement in a people smuggling ring allegedly involving individuals from across Southern Europe, Finland, Mexico and the United States. The suspects are believed to have illegally smuggled people from Southern Europe to the US. Finnish Border Guards said Thursday that they had collaborated with officials from the ... Read More »

Finland, Estonia gas pipe to diversify EU supplies away from Russia

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  HELSINKI: The BalticConnector, a EU-backed gas transmission project between Estonia and Finland, will become operational from the beginning of 2020, boosting EU energy security, Herkko Plit, President and CEO at Baltic Connector Oy, told New Europe in Helsinki on October 12. “Balticconnector (BC) will become operational from the beginning of 2020 onwards,” Plit said. “So far, no capacity bookings ... Read More »

Sri Lanka, Finland to ink digitalization deal

Switzerland, Italy inks accord to exchange tax data

COLOMBO: Sri Lanka and Finland expects to sign a memorandum of understanding on digitalization, Economic Minister Mika Lintila had said during an official visit of Prime Minister Ranil Wickremesinghe. Prime Minister Wickremesinghe’s visit had laid a strong foundation for closer relations between the two countries, he had said, during a banquet held in Helsinki to welcome a delegation from Sri ... Read More »

Finland trade deficit narrows in August

FINLAND

  HELSINKI: Finland’s foreign trade deficit decreased notably in August from a year ago, as exports grew much faster than imports, preliminary figures from Finland Customs Office showed Monday. The trade deficit fell to EUR 150 million in August from EUR 481 million in the corresponding month of the previous year. Both the value of exports and imports advanced by ... Read More »

Wartsila signs contract to supply LNG terminal to Finland

finland

  HELSINKI: The technology group Wärtsilä today announced it has been awarded a turn-key contract with Hamina LNG Oy to supply a liquefied natural gas (LNG) receiving terminal to be built in Hamina, Finland. The scope includes site filling, soil refurbishment, civil works, infrastructure, full containment storage tank with a combined net volume of 30 000 m3, regasification and gas ... Read More »

Finland PPI inflation rises slightly in August

Inflation

HELSINKI: Finland’s producer price inflation accelerated for the second straight month in August, though marginally, figures from Statistics Finland showed Monday. Producer prices for manufactured products climbed 3.8 percent year-over-year in August, just above the 3.7 percent increase in July. The measure has been rising since November last year. The PPI inflation was mainly driven by higher prices of manufacturing ... Read More »

Finland trade deficit narrows In July

FINLAND

  HELSINKI: Finland’s foreign trade deficit decreased in July from a year ago, as exports grew faster than imports, preliminary figures from Finland Customs Office showed Thursday. The trade deficit fell to EUR 300 million in July from EUR 334 million in the corresponding month of the previous year. Both the value of exports and imports surged by 20.0 percent ... Read More »

Finland’s July exports jump 20%

Philippines Jan. exports rise at fastest pace in 3 years

HELSINKI: Finnish exports jumped 20 percent in July from a year earlier, data showed on Thursday, suggesting the economy was set for strong annual growth after years of trouble. Preliminary data from the national customs office showed that January-July exports were up 16 percent from low levels the previous year. The Finnish economy is picking itself up from a decade ... Read More »

Finland to introduce law next year phasing out coal

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HELSINKI: Finland will introduce legislation next year to phase out coal and increase carbon taxes, a top government official told Reuters, which would require the country to find alternative energy sources to keep its power system stable. Coal produces roughly 10 percent of the energy consumed by Finland, which is the Nordics’ heaviest coal consumer and burned about 4.1 million ... Read More »

Finland stocks higher at close of trade; OMX Helsinki 25 up 0.17%

stocks higher

HELSINKI: Finland stocks were higher after the close on Friday, as gains in the Oil & Gas, Utilities and Basic Materials sectors led shares higher. At the close in Helsinki, the OMX Helsinki 25 added 0.17%. The best performers of the session on the OMX Helsinki 25 were Outotec Oyj (HE:OTE1V), which rose 2.76% or 0.160 points to trade at ... Read More »

Finland stocks higher at close of trade; OMX Helsinki 25 up 0.92%

stocks higher

HELSINKI: Finland stocks were higher after the close on Tuesday, as gains in the Basic Materials, Technology and Industrials sectors led shares higher. At the close in Helsinki, the OMX Helsinki 25 added 0.92%. The best performers of the session on the OMX Helsinki 25 were Outotec Oyj (HE:OTE1V), which rose 3.03% or 0.170 points to trade at 5.775 at ... Read More »

Finnish companies may invest in Belarus’ woodworking sector

Flag-Pins-Finland-Belarus

HELSINKI/MINSK: Ambassador Extraordinary and Plenipotentiary of Belarus to Finland Alexander Ostrovsky met with representatives of the Finnish companies Nuorisosaatio Oy and Terry Invest Group to discuss possible investment in the woodworking sector of Belarus, BelTA learned from the website of the embassy. “The parties discussed possible areas of investing in the woodworking sector of Belarus, matters pertaining to the setting ... Read More »

Finland inflation eases in July

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HELSINKI: Finland’s consumer price inflation moderated in July after remaining stable in the prior month, figures from Statistics Finland showed Monday. The consumer price index rose 0.5 percent year-over-year in July, slower than the 0.7 percent increase in June. The measure has been rising since April 2016. Transport costs grew 1.4 percent annually in July and utility costs went up ... Read More »

Finnish Finance Minister aims to cut deficit in 2018 budget proposal

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HELSINKI: Finance Minister Petteri Orpo unveiled his budget proposal on Wednesday with cuts in spending amounting to some 400 million euros. Orpo delayed decisions on taxation but said he would not raise anyone’s taxes—and nor would he grant tax cuts only to the wealthy, as had been feared. The Finance Ministry unveiled its proposed state budget for 2018 on Wednesday, ... Read More »

Finnish exports grew at double-digit rate in H1 of 2017

exports

HELSINKI: Finnish exports grew at a double-digit rate in the first half of this year, according to preliminary data released by Finnish Customs. Finnish Customs on Monday reported that the value of exports increased by roughly 15 per cent year-on-year to 29.5 billion euros and that of imports by 14 per cent to 30.5 billion euros between January and June. ... Read More »

Helsinki set to become world’s busiest sea port

Port of Helsinki handles 10.6% more cargo during Jan-Mar2017

HELSINKI: Port of Helsinki CEO Kimmo Mäki says that once the year’s data is in, Helsinki may reach top of the list of the busiest passenger traffic ports in the world. Largely due to traffic to and from Estonia, ships in Helsinki’s harbours serve some 12 million passengers a year. Helsinki is currently tied with Dover, England as the busiest ... Read More »

Finland to end sales of diesel cars by 2030

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HELSINKI: Finland is eager to join the growing number of countries committed to ending the sales of traditional diesel-fuelled cars. Anne Berner, the Minister of Transport and Communications, on Thursday revealed that the government is mulling over measures to end the sales of diesel cars by 2030. Banning the sales entirely, however, is not among the measures under consideration. “The ... Read More »