STOCKHOLM/MOSCOW, April 24 (Reuters) – Shareholders in
Russia’s No.2 mobile phone operator MegaFon agreed an
ownership shake-up on Tuesday and confirmed plans for an initial
public offering in London that sources say could raise $4
The ownership reshuffle will hand control to Russia’s
richest man, Alisher Usmanov, as billionaire Mikhail Fridman’s
Altimo exits and Nordic telecoms firm TeliaSonera
sells down its stake, TeliaSonera said in a statement.
STOCKHOLM, April 23 (Reuters) – Profitability at Alfa Laval
slid to a five-year low in the first quarter, hit by a
shipbuilding slump which kept its production below capacity, and
the engineer warned of flat demand to come.
Alfa’s outlook bucked a more optimistic view for the
engineering sector which followed results last week from
bearings maker SKF, seen as a gauge of industrial
STOCKHOLM, April 19 (Reuters) – SKF, the world’s
biggest bearings maker, struck an upbeat note for the industrial
sector on Thursday, forecasting rising demand from the United
States and Asia and a more stable Europe after in-line quarterly
The Swedish group, whose products are used in everything
from jets to dishwashers and which is one of the first major
manufacturers to open books on the first quarter, forecast
overall market demand would be slightly higher in the second
quarter versus the first.
STOCKHOLM, April 18 (Reuters) – Sweden’s central bank
quashed expectations for early rate cuts on Wednesday, keeping
interest rates unchanged and saying they were likely to remain
that way for more than a year.
It saw a glimmer of hope for economic growth that has taken
hits from the debt crisis in the neighbouring euro zone. The
central bank, the Riksbank, has cut rates twice recently in
response to slumping exports.
STOCKHOLM, April 17 (Reuters) – Budget cuts by wealthy
western countries has ended a 13-year run of rising military
spending in the world, despite big increases by China and
Russia, a study released on Tuesday said.
“The after-effects of the global economic crisis, especially
deficit-reduction measures in the USA and Europe, have finally
brought the decade-long rise in military spending to a halt – at
least for now,” said one of the report’s authors, Sam
Perlo-Freeman of the Stockholm International Peace Research
STOCKHOLM, April 10 (Reuters) – Swedish industrial
production suffered its sharpest fall since 2009 in February,
jarring a reassuringly rosy outlook painted by other recent
economic indicators and calling into question expectations the
central bank will not take rates any lower.
The Nordic country, sheltered by robust public finances, has
so far weathered the downturn spawned by the euro zone debt
crisis with relative ease and recent gauges of economic activity
had pointed to a moderate recovery.
STOCKHOLM, April 2 (Reuters) – Sweden’s Ratos is
selling pest control firm Anticimex to fellow private equity
group EQT in a deal that valued the company at about 2.9 billion
crowns ($437.05 million), keeping up the steady pace of Nordic
Ratos, which owns 85 percent of Anticimex, said on Monday
that the selling price for 100 percent of the shares amounted to
1.775 billion crowns and that it would book a net exit gain on
the transaction of about 940 million crowns.
STOCKHOLM, March 29 (Reuters) – Sweden moved to tighten tax
rules for owners of stakes in private equity funds, part of a
push against untaxed profits in the 250 billion crown ($37.5
billion) industry, which is the second biggest in Europe
relative to economic output.
A Finance Ministry proposal aims to tax income of private
equity fund owners, or so called carried interest, primarily at
the income tax rate rather than the capital gains rate which is
STOCKHOLM/OSLO, March 17 (Reuters) – Swedish police
called off a rescue operation after searchers on Saturday
recovered human remains from the site of a Norwegian military
plane crash on a remote peak in Sweden’s high north.
All five Norwegian Air Force officers who had been aboard
the Lockheed Martin C-130J Hercules transport craft
before it hit Sweden’s highest mountain around midday on
Thursday are now presumed dead, a spokesman said.
STOCKHOLM (Reuters) – The Icelandic government said on Thursday it would repay early a fifth of the billions of dollars of loans it received from the International Monetary fund and its Nordic neighbors in the wake of the collapse of its banking sector in 2008.
The early repayment of the loans is a symbolic step for the country of just 320,000 people on its road to recovery from a financial meltdown that left its economy in tatters and its name a byword for the ravages of the global financial crisis.