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Finnish Valmet Automotive announces manufacturing deal with Mercedes-Benz

Finnish Valmet Automotive announces manufacturing deal with Mercedes-Benz

HELSINKI: Valmet Automotive has signed an agreement for manufacturing the next generation of Mercedes-Benz compact cars at its assembly plant in Uusikaupunki, Finland. The manufacturing contract will elevate the co-operation between Daimler and Valmet Automotive to new heights and boost the order books of the assembly plant for years to come, Ilpo Korhonen, the chief executive at the automotive manufacturer, ... Read More »

Helsinki port turnover increase 19.7% in Jan-Feb 2017


HELSINKI: The cargo turnover of the port of Helsinki in Finland increased by 19.7% year-on-year in January-February 2017, amounting to 2.45 million tons. The volume of transshipment of bulk cargo increased by 59.2% year-on-year to 336,000 tons, while the throughput of general cargo for the reporting period increased by 15.2% year-on-year to 2.11 million tons. The imports of the general ... Read More »

Finland’s aviation employees call-off strike, back to work

Finland Air

HELSINKI: The Finnish aviation employees’ trade union IAU and business representatives reached a deal on airport workers’ wages and benefits after a final, 30-hour round of negotiations, Finnish National Conciliator Minna Helle said late on Monday. The settlement averts another round of strikes at Helsinki airport that the union had threatened to start on Wednesday. The Finnish Aviation Union IAU ... Read More »

Finnish economy strengthens in recent times: State Treasury

Finnish economy strengthens in recent times: State Treasury

HELSINKI: Finnish State has three credit ratings company, which the state will buy rating services. At the moment, all have a common understanding of the Finnish economy. According to the State Treasury, credit rating agencies assess in taking decisions, inter alia, the national state, the condition of public finances and the political system. The condition of the Finnish economy has ... Read More »

Growth of Finland Orthopaedic Devices Market

Growth of Finland Orthopaedic Devices Market

HELSINKI: KEN RESEARCH recently announced its latest distribution on “Finland Orthopaedic Devices Market Outlook to 2022”, which provides an in-depth market analysis of the orthopaedic devices in Finland. This report also provides with the information related to the market categories of the orthopaedic devices in terms of Annualized market revenues (USD million) and volume (units) data from 2008 to 2015 ... Read More »

Bank of Finland raises growth forecast for 2017 to 1.6%


HELSINKI: The Bank of Finland has upgraded its growth forecast for the national economy for the period between 2017 and 2019. Finland’s gross domestic product is set to grow by 1.6 per cent year-on-year in 2017, by 1.5 per cent in 2018 and by 1.3 per cent in 2019, according to the updated forecast published on Thursday. In December, the ... Read More »

Finland eager to roll out GST in India

Finland eager to roll out GST in India

HELSINKI: Finland said it is eagerly waiting for the landmark Goods and Service Tax (GST) to be rolled out as it will bring transparency in the country’s tax regime and thus encourage ease of doing business. “We are looking forward to GST,” Ambassador of Finland in India, Nina Vaskunlahti said at an interactive session organized by the Bharat Chamber of ... Read More »

Finland inflation highest since Sep-2014

Finland inflation highest since Sep-2014

HELSINKI: Finland’s consumer price inflation accelerated in February to the highest level in nearly two-and-a-half years, figures from Statistics Finland showed Tuesday. The consumer price index climbed 1.2 percent year-over-year in February, faster than the 0.8 percent increase in January. The measure has been rising since April 2016. Moreover, the latest inflation was the highest since September 2014, when prices ... Read More »

Finland’s exports surges 27% in January


HELSINKI: Finnish exports jumped 27% in January from a year ago, helped by a cruise ship delivery, while new manufacturing orders also increased, suggesting the Nordic country’s export sector was picking up pace after a decade-long stagnation. The Finnish economy has slowly recovered in the past two years on the back of domestic consumption while exports have continued to fall. ... Read More »

Finland’s foreign trade gap slightly widens in January


HELSINKI: Finland’s foreign trade gap widened slightly in January from a year ago, preliminary figures from Finland Customs Office showed Friday. The trade deficit rose to EUR 455 million in January from EUR 430 million in the corresponding month last year. The value of exports jumped 27.0 percent year-over-year in January and imports grew by 25.0 percent. Exports to EU ... Read More »

Finland launches Intl. gender equality prize


HELSINKI: On International Women’s Day, March 8, Finland announces its new International Gender Equality Prize, highlighting the country’s role as a leader in gender equality issues. According to details, the primary goal of the International Gender Equality Prize is to create a platform for the further promotion of gender equality across the world. To achieve this aim, the prize is ... Read More »

Finland’s FSA issues €1m fine notice to Nordea bank

Finland’s Financial Supervisory Authority

STOCKHOLM: Nordic banking group Nordea said it had been issued with a warning and €1 million fine by Finland’s Financial Supervisory Authority (FSA) for deficiencies in investment advice. The FSA’s audit showed, for example, deficiencies in the recording of customer meetings and customer information in Nordea’s systems in a few cases, the bank said. “In our view, the Financial Supervisory ... Read More »

Helsinki Stock Exchange lowers at closing of trade


HELSINKI: Finland equities were lower at the close on Monday, as losses in the Basic Materials, Oil & Gas and Technology sectors propelled shares lower. At the close in Helsinki, the OMX Helsinki 25 lost 0.39%. The biggest gainers of the session on the OMX Helsinki 25 were Orion Oyj B (HE:ORNBV), which rose 1.13% or 0.54 points to trade ... Read More »

Finland economy grows 1.6% in 2016


HELSINKI: Finland experienced its first year of noteworthy economic growth since 2011, despite the continuing struggles of export-oriented industries. Statistics Finland unveiled its preliminary data on last year’s economic growth on Wednesday, reporting that Finland’s gross domestic product grew by 1.6 per cent year-on-year in 2016. In 2011, by contrast, the country’s gross domestic product grew by 2.9 per cent ... Read More »

Finland’s economy stabilizes in Q4

Finland’s economy stabilizes in Q4

HELSINKI: Finland’s economy stabilized in the three months ended December, after expanding in the previous quarter, preliminary figures from Statistics Finland showed today (Wednesday, March 01, 2017). On a seasonally adjusted basis, gross domestic product showed no variations in the fourth quarter from the previous quarter. In the third quarter, the economy had grown 0.6 percent, which was revised up ... Read More »

Finland’s foreign trade deficit increase less than estimated


HELSINKI: Finland’s foreign trade deficit increased less than initially estimated in December, latest figures from Finland Customs Office showed Tuesday. The trade deficit for December was revised down to EUR 509 million from EUR 530 million reported earlier. In the corresponding month last year, the shortfall was EUR 262 million. The value of exports dropped 3.0 percent year-over-year in December, ... Read More »

Finland’s retail sales increases at the start of the year

growth increase

HELSINKI: Finland’s retail sales increased at the start of the year, preliminary figures from Statistics Finland showed today (Friday). The retail sales value climbed 2.0 percent year-over-year in January. Similarly, the price-adjusted volume of retail sales grew by 2.4 percent. In daily consumer goods trade, sales rose by 2.7 percent and the sales volume by 3.6 percent in January from ... Read More »

Unemployment rate reduces slightly


HELSINKI: The number of unemployed persons in the country was 242,000 in January this year, which was slightly lower than one year ago, according to Statistics Finland’s Labour Force Survey.  The unemployment rate was 9.2 per cent, having been 9.3 per cent in January of the year before, said a press release of the Statistics Finland.  There were 6,000 more ... Read More »

Finland’s inflation eases in January, after 5 months


HELSINKI: Finland’s consumer price inflation eased for the first time in five months in January, figures from Statistics Finland showed. The consumer price index rose 0.8 percent year-over-year in January, slower than the 1.0 percent increase in December, which was the highest inflation rate since November 2014. The measure has been rising since April 2016. Inflation was mostly driven by ... Read More »

Govt calls off plans to levy tax on boats, motorcycles


HELSINKI: The Finns Party is delighted that its proposal to abandon the tax on motorcycles was successful, says Sampo Terho, the chairperson of the Finns Party Parliamentary Group. The Finnish Government has called off its plan to levy a tax on motorcycles and pleasure boats. Prime Minister Juha Sipilä (Centre) announced yesterday that the revenues generated by the taxes will, ... Read More »