Sweden edition

Currency

The following articles have been tagged with "Currency":

Bildt: next French leader faces 'wake up' call

Politics: 6 May 12
Swedish Foreign Minister Carl Bildt called on the French presidential election front-runner Francois Hollande on Saturday to take account of European economic conditions if he wins the second round of voting. READ »

An expat's guide to retirement planning in Sweden

Business & Money: 26 Mar 12
Saving for your financial future has never been more important - particularly for expatriates. But what options are open to you in Sweden? READ »

Runaway krona must be 'reined in': experts

Business & Money: 21 Feb 12
The Swedish krona is 25 percent overvalued against the US dollar, according to the OECD, jeopardizing the currency's appeal as a “safe haven” for investors. READ »

'Inertia' of Swedish model bashed by firms

Business & Money: 19 Feb 12
Swedish companies want to reform the Swedish labour market in order to boost competitiveness, and hope to adopt the euro, according to their representatives. READ »

Social Democrats drop eurozone pact opposition

Politics: 26 Jan 12
The Social Democrats on Thursday dropped their longstanding opposition to Swedish participation in the eurozone pact on fiscal discipline, after reaching an agreement with the government of Fredrik Reinfeldt. READ »

Social Democrats affirm eurozone pact opposition

Business & Money: 18 Jan 12
The Social Democrats remain opposed to having Sweden join the eurozone stability pact, while the Centre Party said on Wednesday it supported the deal "with conditions". READ »

Ex-minister: financial transactions tax 'failed'

Business & Money: 15 Jan 12
In light of the current European debate on a financial transactions tax, former Swedish finance minister Bo Lundgren has spoken out about Sweden's "very negative" experience of implementing the tax in the 1980s. READ »

Bildt: euro stability lessened crisis impact

Business & Money: 13 Jan 12
The impact of the global financial crisis would have been worse on the EU the euro had not provided the necessary monetary stability, Swedish foreign minister Carl Bildt said on Thursday. READ »

'In a networked world, Sweden may be more powerful than the US'

Analysis & Opinion: 10 Jan 12
While Sweden's military power may be dwarfed by that of the United States, in a networked world, Sweden may nevertheless find itself better equipped than the US to exert influence on the global stage, argues contributor Stefan Geens. READ »

Sweden's five biggest news stories of 2011

Analysis & Opinion: 29 Dec 11
As 2011 draws to a close, The Local looks back at some of the stories that dominated headlines in Sweden in the past year. READ »

Swedes' disdain for the euro hits new heights

Analysis & Opinion: 27 Dec 11
The debt crisis plaguing the eurozone has left Swedes loving their cherished krona more than ever, a sentiment shared by non-euro country Denmark as well, as both struggle to keep the euro's woes from hurting their own economies. READ »

Sweden to support eurozone stability fund

Politics: 20 Dec 11
Sweden agreed on Monday night to help stabilize the euro by pledging to make loans to the International Monetary Fund to strengthen a eurozone bailout fund. READ »

Swedbank hit by 'Twitter- generated' Latvia panic

Business & Money: 12 Dec 11
More than 100 Swedbank cash machines in Latvia were emptied at the weekend following a wave of rumours on Twitter hinting that the Swedish bank was in danger of running out of money. READ »

Swedish euroscepticism at record high: poll

Politics: 6 Dec 11
Close to nine out of ten Swedes are keen to remain outside the eurozone and retain the krona, according to a new poll published on Tuesday in the wake of renewed problems afflicting the European single currency. READ »

ECB cuts a 'risky' strategy: Swedish expert

Business & Money: 3 Nov 11
Following the news that the European Central Bank unexpectedly cut its prime interest rate, Swedish experts are questioning the strategy, saying it could prove "risky". READ »

Reinfeldt: danger not over for the euro

Politics: 27 Oct 11
Sweden's prime minister Fredrik Reinfeldt has warned that the settlement among eurozone leaders over the writing down of the Greek debt, has not removed the risks facing the single currency. READ »

Expert: build Nordic union 'if the euro falls'

Politics: 25 Oct 11
As the eurozone crisis continues to dominate European political business, Gunnar Wetterberg, an analyst at white collar union Saco, has stated the case for a Nordic Union and currency, to counter the threat of a euro collapse. READ »

Volvo Trucks slashes 450 jobs

Business & Money: 25 Oct 11
Swedish truck maker Volvo announced on Tuesday that it was cutting 450 jobs, after reporting that third quarter profit came in under expectations amid a shrinking European market. READ »

Ericsson shares surge on strong earnings report

Business & Money: 20 Oct 11
Swedish telecom giant Ericsson announced on Thursday a 6 percent jump in third quarter net profits, causing its shares to surge in morning trading on the Stockholm stock exchange. READ »

Borg: EU debt crisis not just a eurozone issue

Analysis & Opinion: 13 Oct 11
The current debt crisis is a concern for all of Europe, not just to eurozone countries, Swedish Finance Minister Anders Borg tells AFP's Nina Larsson, highlighting the vulnerability of banks and exports in Sweden as an example. READ »

Euro crisis a threat to Swedish banks: Borg

Politics: 12 Oct 11
Swedish finance minister Anders Borg warned on Wednesday that Swedish banks were "vulnerable" to the euro debt crisis, despite the country's strong public finances. READ »

'The Busking Project' stops by Stockholm

Lifestyle: 11 Aug 11
Aiming to become the first to explore busking on a global scale, one American and two Englishmen set off to travel around the world to document street performers. Contributor Lina Sennevall meets them in Stockholm. READ »

Borg promises restraint as stocks head south

Politics: 8 Aug 11
Sweden's finance minister Anders Borg on Monday promised a "cautious" economic policy as he commented on turbulence in global stock markets. Trading in Stockholm meanwhile nosedived as US markets opened. READ »

Stockholm stock market in shaky opening

Business & Money: 8 Aug 11
As expected the Stockholm stock exchange opened sharply down on Monday although after an hour's trading had rebounded into positive territory as the market battled to digest the weekend's global finance developments. READ »

Stockholm stock market recovers lost ground

Business & Money: 5 Aug 11
The Stockholm stock exchange dropped by 4 percent at the opening of trading on Friday morning, but had recouped the losses by the afternoon amid mounting fears about the the global economy. READ »

Sending money abroad? Time to ditch your bank

Business & Money: 28 Jul 11
If you’re an expat who uses your bank to transfer money abroad, you’ll know that extortionate fees and bad exchange rates can leave a big hole in your pocket. Using a currency specialist can cut these costs dramatically. Here is how. READ »

Swedes' app choices reveal where they live

Business & Money: 22 Jul 11
One in three Swedes will use apps in their mobile phones this summer, but the favourites differ depending on where you are in the country, according to a new survey mapping out Sweden’s top app choices. READ »

Ericsson shares slump despite profits boost

Business & Money: 21 Jul 11
Swedish telecom equipment maker Ericsson on Thursday reported a 65 percent rise in net profit in the second quarter on the back of strong sales, but its shares dropped by nearly 7 percent as figures fell short of analyst expectations. READ »

TeliaSonera earnings hit by strong krona

Business & Money: 20 Jul 11
Swedish-Finnish telecoms firm TeliaSonera's reported earnings on Wednesday below analyst expectations on the back of a strong Swedish currency and problems in its Turkish operations. READ »

Swedish bearings firm SKF reports profits jump

Business & Money: 15 Jul 11
Swedish ball-bearings giant SKF on Friday report a hike in second-quarter profits, aided by an improving automotive market. READ »

Swedes to print South African cash

Business & Money: 11 Jul 11
The banknote printing company Crane & Co's Stockholm-based mill has been contracted to print 8 billion kronor ($1.25 billion) worth of bills for South Africa's Reserve Bank to replace a prior faulty batch. READ »

National Debt Office approves Saab deal

Business & Money: 5 Jul 11
The Swedish National Debt Office announced its decision to approve Saab's request to sell a large part of their shares on Tuesday. READ »

TeliaSonera lowers forecast as profits dip

Business & Money: 19 Apr 11
Swedish-Finnish telecom provider TeliaSonera on Tuesday announced a small dip in quarterly net profits as slower growth and currency movements also dented the company's 2011 sales expectations. READ »

Ingmar Bergman to adorn new Swedish banknote

Business & Money: 6 Apr 11
Sweden's Riksbank on Wednesday announced the new faces to adorn the country's notes and coins, including a celebrated film director, a former UN secretary-general and a children's author. READ »

Riksbank head: financial crisis 'over' in Sweden

National: 3 Mar 11
The head of Sweden's central bank said on Thursday that the financial crisis is over, but warned about the potential risks associated with an increasingly strong krona. READ »

Saab's Brazil Gripen bid delayed further

Business & Money: 23 Feb 11
Swedish defence contractor Saab will be made to wait further for a decision on the company's bid to sell its Gripen fighter jet to Brazil, the Brazilian defence ministry said Tuesday. READ »

ABB expects double-digit earnings growth

Business & Money: 26 Jan 11
Swedish-Swiss engineering giant ABB announced that its $4.2 billion offer to buy US industrial electric motor group Baldor Electric was a success, adding that it expects double-digit growth in fourth quarter operating income. READ »

Alliance faces defeat in sale of state-owned firms

Business & Money: 21 Jan 11
Sweden's ruling minority Alliance coalition may lose yet another vote in parliament after the Sweden Democrats announced their intention to support a motion to stop or restrict the sale of state-owned enterprises. READ »

Sony Ericsson posts profit as sales fall

Business & Money: 20 Jan 11
Android-based smartphone sales helped move Swedish-Japanese mobile phone maker Sony Ericsson back into profit in 2010, despite lower than expected fourth quarter earnings and sales. READ »

Is Sweden's economic future paved with gold?

Analysis & Opinion: 19 Jan 11
The Swedish economy hasn't yet been dragged down by eurozone debt problems, and while growth is strong and exports are up, Sweden might still face a few economic bumps on the road ahead, the AFPs Marc Preel reports. READ »

Top Swedish execs less keen on the euro

Business & Money: 27 Dec 10
A number of prominent Swedish business leaders have become more sceptical towards Sweden joining the euro in the near future, but stressed their belief in the currency's viability in the long term. READ »

Sweden may support euro countries in crisis

Business & Money: 17 Dec 10
Swedish Prime Minister Fredrik Reinfeldt announced on Friday that Sweden has not yet ruled out the possibility of supporting a new emergency fund to bail out vulnerable euro countries. READ »

‘Terrorism is a battle of minds, not of bombs’

Analysis & Opinion: 15 Dec 10
As Sweden struggles to come to grips with the suicide bomb attack that shook central Stockholm on Saturday, Sweden-based Bangladeshi journalist Tasneem Khalil argues that the defence of freedom involves raising questions rather than throwing bombs in retaliation. READ »

Swedish euro support remains weak: survey

Business & Money: 14 Dec 10
A survey reveals that Swedish support for the euro remains weak in November, Statistics Sweden announced on Tuesday. READ »

Passing grade for Swedish jobs policy

Business & Money: 30 Nov 10
Even as unemployment in Sweden hovers around eight percent, a recent government study found no major faults with the country's current labour market policies. READ »

Sweden ready to open coffers for Ireland: Borg

Business & Money: 22 Nov 10
Sweden is prepared to lend Ireland up to 10 billion kronor ($1.46 billion) to help with the country's current debt crisis, Swedish finance minister Anders Borg said Monday READ »

Swedish budget surplus by 2011: report

Business & Money: 16 Nov 10
Sweden is expected to be running a budget surplus in 2011, according to a new forecast from the country’s National Debt Office. READ »

Sweden 'threatens the global economy': study

Business & Money: 12 Nov 10
An American think tank has criticised Sweden for maintaining a constant current account surplus, arguing that doing so poses a threat to the functioning of the global economy. READ »

Take the SJ train to Jämtland

Travel: 11 Nov 10
Home to one of Sweden's most popular ski resorts, the province of Jämtland will not disappoint travellers looking for a classic Swedish winter experience. READ »

Skanska profits despite challenging economy

Business & Money: 4 Nov 10
Swedish construction concern Skanska reported a better-than-expected third quarter profit, with the company's CEO adding that it has fared well despite challenging economic circumstances. READ »

MTG stock falls despite profits hike

Business & Money: 19 Oct 10
Swedish media concern Modern Times Group has reported a pre-tax profit of 499 million kronor ($75 million) for the third quarter 2009, up from 336 million kronor in the corresponding period of 2009, while disappointing the markets. READ »

Sweden pays its last respects to the öre

Analysis & Opinion: 30 Sep 10
The 50 öre coin took its final breath on Thursday and The Local's Peter Vinthagen Simpson has had a look at the life and times of Sweden's last remaining copper coin. READ »

Sweden earns praise for public finances

National: 14 Aug 10
Ratings agency Fitch praised Sweden on Friday for its handling of the financial crisis as the country retained its AAA long-term foreign currency debt rating. READ »

Swedish growth to slow in 2011: IMF

Business & Money: 20 Jul 10
Swedish growth will slow in 2011, from around 3 percent today to 1.9 percent, according to a new prognosis from the International Monetary Fund (IMF). READ »

Krona continues to strengthen

Business & Money: 13 Jul 10
The Swedish krona could soon hit its strongest level against the word’s major currencies since the collapse of Lehman Brothers, almost two years ago. READ »

Swedish feminists burn 100,000 kronor in wage protest

Politics: 6 Jul 10
The Feminist Initiative carried out its promise to burn 100,000 kronor ($13,000) on Tuesday morning, claiming that a half-page ad would never have had the same impact in the fight for equal pay between the sexes. READ »

Fewer Swedes favour euro over krona: poll

National: 15 Jun 10
A clear majority of Swedes would vote against switching from the krona to the euro if a referendum on whether Sweden should adopt the common European currency were held today, a new poll shows. READ »

Birgitta Ohlsson - A maverick in a ministerial suit

Analysis & Opinion: 8 Jun 10
Sweden's Minister of EU Affairs Birgitta Ohlsson talks to The Local's Peter Vinthagen Simpson about freedom of expression in Sweden and Europe today; the euro and Sweden's status outside of it; and what can be done to encourage and promote universal European liberal values. READ »

Opposition mounts to euro adoption in Sweden

Business & Money: 3 Jun 10
Opposition to joining the euro adoption is growing in Sweden, with an increasing number of people fearing that businesses would lose out if the country scrapped the krona and joined the single currency, a poll showed on Thursday. READ »

Borg calls on EU partners to disclose deficit cuts

Business & Money: 17 May 10
Sweden's Finance Minister Anders Borg has demanded that Spain and Portugal disclose their plans to reduce budget deficits at a meeting of eurozone finance ministers in Brussels that begins later on Monday. READ »

Parties hold firm on euro despite Greek crisis

Analysis & Opinion: 12 May 10
The Local's Peter Vinthagen Simpson and Vivian Tse review party policy as Sweden's backing of a eurozone bailout brings the issue of Sweden's membership of the euro back into focus. READ »

Reinfeldt and Sahlin lock horns in televised debate

National: 10 May 10
While both Prime Minister Fredrik Reinfeldt and Social Democrat leader Mona Sahlin could agree that Sweden should support troubled euro area countries, the tone of their Sunday evening televised debate was often heated. READ »

SAS counts cost of volcano ash chaos

Business & Money: 7 May 10
Scandinavian airline SAS has estimated that the disruption caused by the Icelandic volcanic eruption has cost the airline between 650 million and 700 million kronor ($91 million) to date. READ »

Skanska profits boom in upbeat report

Business & Money: 7 May 10
Swedish construction firm Skanska has reported a profit after financial items of 936 million kronor ($120 million) for the first quarter 2010, over double the 449 million kronor posted in the period last year, and above analyst forecasts. READ »

Swedish food gets Naked Chef's approval

Lifestyle: 29 Apr 10
Swedes might have traditionally viewed food as mere fuel, but over the past few years the country has experienced a culinary awakening, converting Jamie Oliver in the process, reports Vivian Tse. READ »

Astra Zeneca reports profits boost

Business & Money: 29 Apr 10
Anglo Swedish pharmaceuticals firm AstraZeneca reported a first quarter profit climb of 29 percent on Thursday on the back of a "strong" performance in emerging markets and sales of key products. READ »

TeliaSonera returns to profit as sales drop

Business & Money: 20 Apr 10
TeliaSonera declared a return to profits on Tuesday while the Nordic telecoms giant reported a drop in sales for the first quarter 2010. READ »

SAS losses widen in 2010

Business & Money: 31 Mar 10
SAS Scandinavian airlines' losses continued to widen in January and February, the company said Tuesday as it prepares for a new €510 million rights issue to bolster its ailing finances. READ »

Republicans call for elk to dethrone cash king

Society: 16 Mar 10
The Swedish Republican Association has called on the central bank to ditch the royals on the country's coins and bank notes in favour of majestic beasts and giants of science and literature. READ »

Borg: No cash for euro currency fund

Business & Money: 9 Mar 10
Sweden's Finance Minister Anders Borg has lent his support to a German initiative to create a European currency fund to support euro countries with budget problems, but said that Sweden would not be contributing finance. READ »

Krona hits 14-year high against pound

Business & Money: 2 Mar 10
Tourists from Sweden are set to benefit this spring as the krona continues to strengthen against major global currencies. READ »

Sweden's Borg talks tough on Greece debt

Politics: 16 Feb 10
Sweden's finance minister Anders Borg has led the chorus of European partners calling on Greece to "surpass" market expectations in dealing with its debt crisis. READ »

Telia Sonera doles out billions on strong report

Business & Money: 11 Feb 10
Swedish-Finnish telecom firm Telia Sonera has reported a profit after financial items of 6.98 billion kronor ($947 million) for the final quarter 2009, with shareholders in line for a bumper pay out. READ »

Sweden fares badly in global economic report

National: 7 Feb 10
Swedes by and large have not fared well during the deep recession. The report card comes from the Organization for Economic Cooperation and Development. READ »

Record number of tourists flock to Sweden

Society: 3 Feb 10
The number of foreign tourists visiting Sweden climbed 3.3 percent in 2009 setting a record high and bucking the recession and a declining European trend, new statistics show. READ »

Crisis takes its toll on Sweden's balance sheet

Business & Money: 12 Jan 10
Sweden’s state finances deteriorated markedly during 2009, with the National Debt Office reporting a deficit of 176 billion kronor ($24.8 billion) for the year. READ »

More Swedes favour euro over krona: poll

National: 15 Dec 09
A majority of Swedes would favour switching from the krona to the euro if a referendum on whether Sweden should adopt the common European currency were held today, a new poll shows. READ »

Ikea sees profits fall in Sweden

Business & Money: 14 Dec 09
While customers continue to stream into Sweden’s Ikea stores, the weak krona has taken a bite out of the Swedish operations of the home furnishing giant. READ »

Swedish press: Saab 'damaged beyond repair'

National: 25 Nov 09
Sweden's main newspapers on Wednesday struck a gloomy tone about the prospects of Saab Automobile’s survival, the day after luxury automaker Koenigsegg ditched its plans to buy the troubled Swedish brand. READ »

Liberals call for lower taxes at party congress

Politics: 20 Nov 09
Liberal party leader Jan Björklund has rallied members during a speech at the party conference in Växjö calling for lower taxes, developments in nuclear power production and for Sweden to adopt the euro as its currency. READ »

Sweden calls summit over EU top jobs

Politics: 11 Nov 09
Sweden, which currently hold the rotating EU presidency, has called an extraordinary meeting in Brussels next week with the aim of presenting candidates for the new positions of president and foreign policy chief. READ »

Losses continue to shrink for Volvo Cars

Business & Money: 2 Nov 09
Volvo Cars posted a much improved third quarter result on Monday, losing only $135 million compared with the $458 million the company lost a year ago. READ »

Four Swedes in Pakistan terror probe

National: 14 Sep 09
Sweden's foreign ministry confirmed on Monday that four Swedish citizens - three adults and a child - are being held in Pakistan, where authorities are investigating whether the group has ties to Al-Qaeda. READ »

Swedish net sellers tricked by fake euro bills

Business & Money: 14 Sep 09
Police in Stockholm have uncovered a new scam involving internet transactions and counterfeit euro bills. READ »

Billy bookshelf does battle with Big Mac Index

Business & Money: 10 Sep 09
Ikea’s iconic Billy bookshelf may be on its way to ousting McDonald’s Big Mac as a gauge for comparing price levels across different countries. READ »

Prison for Stockholm counterfeiting ring

National: 22 Aug 09
A Swedish court on Friday sentenced six men to prison for their involvement in a major counterfeiting ring specializing in fake euro and dollar notes. READ »

Bumper Friday for krona and stocks

Business & Money: 21 Aug 09
The Stockholm stock exchange and the krona both hit record levels for the year on Friday as several economic indicators point to an upswing in Sweden's economic fortunes. READ »

Record losses for Sweden's Volvo Group

Business & Money: 21 Jul 09
Swedish truck maker Volvo Group on Tuesday reported its largest-ever quarterly loss amid as massive write-offs and weak demand took their toll on profits. READ »

Ikea founder calls for more job cuts

Business & Money: 7 Jul 09
Swedish furniture retailing giant Ikea needs to shed more employees, company founder Ingvar Kamprad said in an interview published on Monday. READ »

Weak krona and ABBA key to Swedish theme parks turnaround

Business & Money: 2 Jul 09
The operator of three of Sweden’s largest amusement parks lost money in 2008, but the company’s CEO is confident of an upswing in profits for 2009 due in part to the weak Swedish currency. READ »

Thirteen charged over counterfeit cash

Business & Money: 26 Jun 09
Thirteen people were indicted by a Swedish court on Thursday after being caught with 2.5 million kronor ($318,000) in counterfeit dollar and euro bills. READ »

Profit hike for H&M as clothes fly off shelves

Business & Money: 25 Jun 09
Swedish budget clothing retailer has sidestepped a downward global sales trend to report a healthy second quarter net profit. READ »

Unprecedented job cuts at Ikea due to crisis

Business & Money: 24 Jun 09
Swedish discount furniture retailer Ikea has been forced to slash 5,000 jobs globally due to the economic crisis, but still expects a new sales record, the CEO said on Tuesday. READ »

Swedish debt soars to 200 billion kronor

Business & Money: 12 Jun 09
Sweden's lending to crisis-ridden Iceland and to domestic banks struggling in the Baltics has contributed to a vast upward revision of the country's debt for 2009. READ »

Borg beats bailout drum following belt tightening in Riga

Business & Money: 9 Jun 09
Swedish finance minister Anders Borg on Tuesday urged international lenders to open their coffers to Latvia after the country agreed to slash government spending. READ »

Baltic crisis puts pressure on krona

Business & Money: 8 Jun 09
The Swedish krona fell back against the euro on Monday as markets remained shaky on the back of concerns over Swedish bank exposure to the troubled Baltic state economies. READ »

Sören Wibe: The economics of a eurosceptic

Analysis & Opinion: 5 Jun 09
As a fully fledged eurosceptic, the June List's Sören Wibe is pushing to stop the EU becoming an increasingly federalist project. READ »

Latvia fears prompt rollercoaster ride for Swedish bank shares

Business & Money: 4 Jun 09
Share prices of Sweden’s leading banks recovered somewhat on Thursday after major drops on Wednesday in the wake of fears that Latvia may devalue its currency. READ »

Krona slides further on Baltic economy worries

Business & Money: 28 May 09
Concerns about economic developments in the Baltic region are the likely cause of the krona’s steady slide in recent days, according to several experts. READ »

Riksbank to boost foreign currency reserves

Business & Money: 27 May 09
The Swedish krona weakened somewhat on Wednesday following an announcement from the Riksbank that it planned to borrow 100 billion kronor of foreign currency. READ »

Meet Sanna, 9 years old

Sanna is one of 2 million people in Sweden under the age of 18. Sweden is seen as a good place to grow up. The law makes sure children are well-protected and defends their rights and any organizations work with children's well-being. Read more »

Strindberg, king of drama

August Strindberg's plays shocked society, dazzled audiences and revolutionized drama. A century after his death, Strindberg, with his powerful, timeless themes, is celebrated around the world. Read more »

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