• Sweden edition

Economy

The following articles have been tagged with "Economy":

Three Swedish banks downgraded by Moody's

Business & Money: 25 May 12
Moody's Investors Service on Thursday downgraded its long-term ratings on three Swedish banks, believed to be at risk if the European financial crisis deepens. READ »

IMF warns Swedish economy 'vulnerable'

Business & Money: 16 May 12
The growth of the Swedish economy is vulnerable due to its exposure to weak European economies, International Monetary Fund wrote in a report released on Tuesday. READ »

Sweden, UK team up for EU bank rules battle

Business & Money: 2 May 12
Sweden teamed up with Britain and other eastern European allies in a showdown Wednesday against other EU states led by Germany and France over rules to protect banks against any crisis. READ »

Ex-minister snags top Swedish banking job

Business & Money: 2 May 12
Ex-Social Democrat minister Thomas Östros will be the new head of the Swedish Bankers' Association, it was revealed on Wednesday. READ »

Sweden’s defence 'not fit for battle': expert

Business & Money: 30 Apr 12
Sweden’s armed forces would not be able to defend Sweden should the need arise, according to experts, who point to the lack of protection against radiation, chemical and biological warfare, and the needs for field hospitals and helicopter training. READ »

'United States losing its global influence': Borg

Politics: 23 Apr 12
Sweden's finance minister Anders Borg warned at the weekend that the United States' position as a leader on the global economic stage was at risk due to its failure to strengthen an IMF crisis fund. READ »

No change for Sweden interest rate: Riksbank

Business & Money: 18 Apr 12
Sweden's central bank is holding the country's benchmark interest rate steady at 1.5 percent, the Riksbank announced on Wednesday, saying the Swedish economy was showing some "positive signs". READ »

'Swedes' debts cost society billions': minister

Business & Money: 16 Apr 12
Minister for EU affairs Birgitta Ohlsson thinks that Swedes have too many debts and has launched an enquiry to map out the situation and come up with possible solutions, planned to be completed by 2013. READ »

Sweden slashes 2012 growth forecast

Politics: 16 Apr 12
The Swedish economy is set for a major slowdown in 2012, according the spring budget presented on Monday by finance minister Anders Borg, who warned for the "downside risks" amid the continued economic uncertainty. READ »

Government says yes to making subletting easier

Business & Money: 12 Apr 12
The Swedish government has proposed to loosen current restrictions facing flat owners who want to sublet their apartments in an effort to help ease the current housing crunch in large cities. READ »

'Sweden needs laws against politicians' reckless spending'

Analysis & Opinion: 28 Mar 12
Sweden should change its constitution to ensure that spendthrift politicians don't leave the economy in ruins, argues Jacob Lundberg of the Moderate party's youth wing. READ »

Ikea says no to hiring cronies of Italian politico

Business & Money: 28 Mar 12
Ikea has denied a request by a local politician in Italy urging that four of his friends be hired at a new branch of the Swedish furniture retailing giant, which has received 30,000 applications to fill 220 positions. READ »

Liberalisation fastest in Sweden: report

National: 24 Mar 12
Sweden has had a quicker liberalisation than any other advanced economy in the world, in terms of privatisation and deregulation, according to conservative American think tank The Heritage Foundation. READ »

Swedes back Obama in US election: survey

Politics: 20 Mar 12
If Swedes could vote in US elections, President Barack Obama would handily beat either Mitt Romney or Rick Santorum, according to a new survey, which also reveals Swedes can't seem to get enough of US politics. READ »

Sweden sparks row over who owns 'Nordic Model'

Politics: 14 Mar 12
The successful trademark registration of “Nordic Model” by Sweden’s Social Democrats has prompted a sharp reaction from the rest of the Nordic region's political establishment and begs the question: who created the Nordic Model? READ »

Why Sweden has had a good crisis

Analysis & Opinion: 2 Mar 12
Stockholm University professor Lars Calmfors explains why Sweden has so far escaped relatively unscathed from the financial crisis - and how the latest bout of uncertainty might affect the economy. READ »

Swedish economy hit by eurozone troubles

Business & Money: 29 Feb 12
Sweden's economy contracted in the last quarter of 2011, shrinking by 1.1 percent compared to the previous quarter and showing the export-dependent economy's vulnerability to the eurozone crisis. READ »

Löfven presents his ‘shadow government’

Politics: 24 Feb 12
New Social Democrat leader Stefan Löfven on Thursday presented the team he calls his new “shadow government”, featuring both new and old names. READ »

Sweden cuts repo rate further amid 'uncertainty'

Business & Money: 16 Feb 12
The Riksbank cut Sweden's benchmark interest rate by a quarter point to 1.5 percent on Thursday, as slower growth in the euro area took its toll on Sweden's economic prospects. READ »

EU to probe Sweden's 'economic imbalance'

Business & Money: 14 Feb 12
Sweden is among twelve countries set to be discussed in a report from the EU commission, due to what the European Commission has identified as imbalances in the economy. READ »

Brits in Sweden to forge northern alliance: paper

Politics: 9 Feb 12
Nordic, Baltic and British leaders have been gathering in Stockholm, ostensibly to discuss future challenges shared by the nations. But commentators think the meeting has a bigger purpose - as part of a British-led strategy to forge a new 'northern alliance' in Europe. READ »

British PM in Sweden to discuss women and work

Politics: 8 Feb 12
David Cameron joined Fredrik Reinfeldt and other heads of government from northern Europe who have gathered in Stockholm to discuss common future challenges at the Northern Future Forum. READ »

Europe's banks set for years of 'shrinkage': Borg

Business & Money: 2 Feb 12
Swedish finance minister Anders Borg warned that Europe's financial sector was headed for a decade of tough reforms that would leave it much smaller, but more robust. READ »

Nordea closes out 2011 by beating forecasts

Business & Money: 24 Jan 12
Swedish bank Nordea reported better-than-expected profits for the final quarter of 2011, although profits for the entire year were down by 1 percent. READ »

'Gomorrah' author wins 2011 Olof Palme Prize

Society: 23 Jan 12
Roberto Saviano, author of Italian mafia exposé 'Gomorrah', and Mexican journalist Lydia Cacho were named the 2011 recipients of the Olof Palme Memorial Prize in Stockholm on Monday. READ »

Swedbank in massive Latvia write down

Business & Money: 13 Jan 12
Swedbank announced plans Friday to write down two billion kronor ($283 million) from its operations in Latvia, which have been plagued by rumours about their financial stability. 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 »

Sweden boasts hefty budget surplus for 2011

Business & Money: 10 Jan 12
Sweden’s national debt office stated on Tuesday that the country’s budget surplus from 2011 stood at 68 billion kronor ($9.85 billion). READ »

Jobs agency slammed over 'cheap' interpreters

Business & Money: 9 Jan 12
When the Swedish Employment Office recently contracted for interpreting services, it chose one with a tariff significantly below market prices, according to a new report. READ »

What's going to happen in Sweden in 2012?

Analysis & Opinion: 30 Dec 11
With 2012 just around the corner, The Local wants to to hear from readers about what they think will be making news in Sweden in the year ahead. 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 »

Cautious optimism for the Swedish economy

Business & Money: 24 Dec 11
The Stockholm stock exchange closed up slightly on the Friday before Christmas amid reports of an increase in the number of new companies registered in Sweden in 2011. READ »

Change banks without changing account numbers: minister

Business & Money: 22 Dec 11
Letting Swedes hold on to their account numbers when switching banks is one way to put pressure on banks thought to be gouging customers with high mortgage rates, financial markets minister Peter Norman said Thursday. READ »

Sweden to tourists: frolic in our forests

Business & Money: 21 Dec 11
Hot on the heels efforts to turn Sweden into the world's culinary capital, the government is set to announce a new initiative meant to make Sweden's vast forests one of the country's primary tourist attractions. READ »

Sweden cuts interest rate amid eurozone worries

Business & Money: 20 Dec 11
Sweden's central bank cut the country's benchmark interest rate by 0.25 percent on Tuesday, at the same time signaling the rate would remain low throughout 2012 amid concerns about developments in the eurozone. READ »

Why Sweden should stay out of the EU budget pact

Analysis & Opinion: 13 Dec 11
European leaders have failed to help solve the current debt crisis, and Sweden shouldn't think of signing on to a plan that amounts to an attempt to remake Europe into a super-bureaucratized dream, argues Swedish liberal commentator Johan Norberg. 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 »

Left Party proposes Sjöstedt as new leader

Politics: 10 Dec 11
Sweden's Left Party's nomination committee suggested Jonas Sjöstedt take over as the party's new leader from Lars Ohly, who won't run for re-election in January. READ »

Sweden 'won't block' pact to save euro

Business & Money: 9 Dec 11
Sweden was one of four European Union member states to scupper hopes of a 27-country agreement to help strengthen the euro, but nevertheless plans to participate in the creation of a European bailout fund. READ »

Swedish realtors predict drop in house prices

Business & Money: 8 Dec 11
Fresh figures from the Association of Swedish Real Estate Agents show that 54 percent believe that houses prices will fall in the near future. READ »

After Facebook, Luleå sets sights on digital age

Business & Money: 28 Nov 11
The opening of a massive data centre by US social networking giant Facebook, officials hope will be just the start of a march into the digital age for the town of Luleå, perched in the Arctic far north of Sweden. READ »

Borg grabs top spot in Financial Times' ranking

Business & Money: 23 Nov 11
The Financial Times (FT) has elected Swedish finance minister Anders Borg as the best minister for finance in Europe for 2011, news met with scepticism by Borg's Social Democratic opponent, who claimed he would also have won the top spot if he had been finance minister. READ »

Late snow 'no concern' for Swedish resorts

National: 20 Nov 11
As Sweden's first real snowfall for the season is set to hit the northern-most regions over the weekend, the winter tourism industry isn't overly concerned at the late start. READ »

Sweden: hard at work or hardly working?

Analysis & Opinion: 9 Nov 11
Swedes have a reputation for studying longer, working fewer hours and enjoying more holiday leave than people in most other comparable countries, while others argue that the careerism rat race has taken hold. What do you think? READ »

'Secret' bonus scheme at nursing homes revealed

National: 6 Nov 11
Swedish health care provider Carema has received another blow as a "secret" bonus program for managers was revealed just days after staff told how high-savings initiatives have led to neglect of the elderly in their care. READ »

Greece default 'a threat' to Sweden: minister

Politics: 5 Nov 11
Although the Greek PM Giorgos Papandreou won a narrow vote-of-confidence late Friday, Sweden's European Union Affairs Minister Birgitta Ohlsson warned that a default by Greece would directly threaten Sweden's economy. READ »

King slams Greece over referendum plans

Politics: 4 Nov 11
Sweden's King Carl XVI Gustaf has taken a swipe at embattled Greek prime minister George Papandreou for proposing a referendum on a bailout plan to help the debt-laden Greek economy. READ »

Reinfeldt: Greek vote 'signals major problems'

Politics: 1 Nov 11
The Greek government's decision to call a referendum on the eurozone settlement to write down the country's debt, raises uncertainty over the Greek economy, according to Swedish PM Fredrik Reinfeldt. READ »

Sandvik to slash Swedish workforce in cost-savings drive

Business & Money: 1 Nov 11
Swedish industrial equipment maker Sandvik announced on Tuesday it plans to cut 365 jobs despite posting better-than-expected earnings for the third quarter. READ »

'An Amazing Race for the Clinically Insane'

Travel: 31 Oct 11
Hanging from the side of a less-than-100%-reliable three-wheeler may not be the most comfortable way to see India, but it’s surely one of the most exhilarating. READ »

Riksbank leaves base rate unchanged

Business & Money: 27 Oct 11
Sweden's Riksbank has left Sweden's benchmark interest rate unchanged at 2 percent and has delayed any rises well into 2012, meeting market expectations. 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 »

Swede Lagerbäck to lead Iceland

Sport: 15 Oct 11
Former Sweden coach Lars Lagerbäck has been named the new head coach of Iceland's national football team. READ »

From Sweden to Germany in search of cheap booze

Lifestyle: 14 Oct 11
Tired of Sweden's high alcohol taxes and the state run liquor monopoly? Come along with contributor Patrick Reilly as he details a recent journey to Germany in search of cheap beer. 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 »

Ministers tout 'Swedish model' to solve European debt crisis

Politics: 12 Oct 11
Swedish foreign minister Carl Bildt and finance minister Anders Borg have argued that a European solution to the debt crisis should draw upon the approach used by Sweden in the 1990s. 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 »

Two Americans share economics Nobel

National: 10 Oct 11
The 2011 Nobel prize in economics has been awarded to US-based economists Thomas J. Sargent and Christopher A. Sims for “their empirical research on cause and effect in the macroeconomy”. READ »

Juholt probed over rental payment scandal

Politics: 8 Oct 11
Social democratic leader Håkan Juholt has spent years pocketing accommodation reimbursements he wasn't entitled to, amounting to a total of roughly 160,000 kronor ($23,500). READ »

Brazil fighter jet deal 'urgent': minister

Business & Money: 30 Sep 11
Brazil's defence minister has said that the country has an "urgent´" need of new combat aircraft, reigniting renewed speculation about a multi-billion-dollar deal potentially involving Swedish Saab's Gripen NG. READ »

Sweden runner up in 'reputation' ranking

National: 29 Sep 11
Sweden has been placed second behind Canada in a ranking of countries with the best reputation in the world, in a new study linking a country's image with foreign investment and tourism receipts. READ »

Budget 'too optimistic': Social Democrats

Politics: 20 Sep 11
Swedish finance minister Anders Borg defended the government's autumn budget proposal against charges that it was overly optimistic in a spirited Riksdag debate on Tuesday. READ »

Swedish budget focuses on labour market

Business & Money: 20 Sep 11
Sweden's government has outlined a raft of labour market initiatives in the budget presented on Tuesday, while its forecast for GDP growth has been slashed to 1.3 percent in 2012, warning that the reality could be worse. READ »

Sweden to slash restaurant sales tax

Politics: 12 Sep 11
Patrons at Swedish restaurants will see the value-added tax (VAT) added to their bills cut by more than half staring January 1st, 2012 as part of a government spending package designed to boost employment among young people. READ »

Borg: time to 'pressure' Italy and Greece

Business & Money: 8 Sep 11
Sweden's finance minister Anders Borg argued that more pressure needs to put on debt-laden Greece and Italy to improve their public finances amid growing concerns over debts carried by Europe's banks. READ »

Riksbank leaves repo rate unchanged

Business & Money: 7 Sep 11
Sweden's Riksbank announced on Wednesday that they have decided to hold the country's main interest rate unchanged at 2 percent and to postpone future increases. READ »

Ikea used East German prison labour: report

Business & Money: 2 Sep 11
Swedish furniture giant Ikea used East German political prisoners in the 1970s and 1980s to help build sofas at a factory that sat adjacent to a prison, according to German media reports. READ »

Swedes warned over looming butter shortage

Society: 1 Sep 11
Sweden’s butter shortage is set to reach alarming levels this year, the country's dairy association has warned, citing higher demands and less raw milk. READ »

Sweden faces economic slowdown: report

Business & Money: 31 Aug 11
Sweden's National Institute of Economic Research (NIER) has cut its forecast for Swedish growth and sees a significant risk that the eurozone debt crisis could worsen. READ »

Sweden slashes 2011 growth forecast

Politics: 26 Aug 11
Sweden's finance minister Anders Borg on Friday announced that the government had significantly lowered its growth forecast for 2011. READ »

Four parties below Riksdag threshold: poll

Politics: 26 Aug 11
Four parties in the Swedish parliament - the Sweden Democrats, the Christian Democrats, the Centre Party and Left Party - would fall below the threshold for Riksdag seats if an election were held today, a new poll on Friday showed. READ »

Reinfeldt 'open' to Swedish troops in Libya

Politics: 22 Aug 11
Sweden’s prime minister Fredrik Reinfeldt said in an interview on Monday morning that he is ready to discuss the possibility of sending Swedish troops to Libya to help guarantee the country's security. READ »

Maud to advise Hillary on women's business

Politics: 21 Aug 11
Sweden’s Centre Party leader, Maud Olofsson, due to retire from her post later this year, has been asked to sit on newly-formed International Council on Women’s Business Leadership, for U.S. Secretary of State, Hillary Clinton. READ »

Stock market continues downward slide

Business & Money: 19 Aug 11
The Stockholm stock market continued to fall on Friday, with the OMXS-index dropping nearly 4 percent within 30 minutes of opening and finishing the week down nearly 11 percent - and the lowest level since autumn 2009. READ »

Stockholm stock exchange plummets

Business & Money: 18 Aug 11
The Stockholm stock exchange was down 6.2 percent on Thursday afternoon when trading closed, making the drop the steepest since November 2008. A broad fall among other European stock markets means fears of a recession are mounting. READ »

Sweden to bolster banks against European debt crisis

Business & Money: 16 Aug 11
Swedish Finance Minister Anders Borg said Tuesday the government planned to implement measures to help ensure the country's banking sector avoid being pulled into the European debt crisis. READ »

Moderates push back promised tax cut plans

Politics: 16 Aug 11
Prime minister Fredrik Reinfeldt announced on Tuesday his Moderate Party was delaying plans to implement several tax reductions, citing increasing concerns about the state of the global economy. READ »

Swedish housing market continues to slide

Business & Money: 16 Aug 11
Flat prices fell by 6 percent in Sweden and house prices by 2 percent in July compared to the previous month, according to new statistics. READ »

Swedish realtors fear falling property prices

National: 12 Aug 11
The continuing financial uncertainty looks set to have a bearing on what is traditionally one of the busiest weekends of the year for real estate agents in Sweden. READ »

How to survive on a Swedish student budget

Lifestyle: 12 Aug 11
The Local's Clara Guibourg comes to the rescue of those struggling to get by on a meagre student loan with a survival guide of almost everything you need to know about living in Sweden on the cheap, without missing out on the fun. READ »

US economy crisis causes Pajala panic

Business & Money: 12 Aug 11
The ongoing financial crisis in the US is causing growing concern in Pajala, in the North of Sweden, whose future is largely dependent on an iron mine due to be opened by an American company. READ »

Reinfeldt: eurozone crisis 'of your own making'

Politics: 11 Aug 11
After the latest downturn in the global economy Swedish prime minister Fredrik Reinfeldt commented on the situation in Europe for the first time, arguing that it is up to leaders to "act on the promises they have made". READ »

Swedish inflation climbs in July

Business & Money: 11 Aug 11
Sweden's inflation rate rose at a higher clip in July than in the previous month, partly due to rising mortgage interest costs, although consumer prices remained flat. READ »

Stockholm stock market in record fall

Business & Money: 9 Aug 11
The Stockholm stock market fell 5.2 percent on Monday - the worst fall in nearly three years. 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 »

'Sweden will be affected by the crisis': experts

Business & Money: 8 Aug 11
Experts say Sweden won't avoid being affected by the turbulence in the world economy and the Social Democrats called for a meeting of the Riksdag’s financial committee to discuss the situation. READ »

Markets hit by 'buffalo herd' mentality: Borg

Business & Money: 5 Aug 11
Swedish finance minister Anders Borg attempted to reassure worried investors in the wake of stock market drops across Europe on Friday, but admitted that financial markets remained "turbulent". 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 »

Swedish economy continues to grow

Business & Money: 29 Jul 11
Sweden's economy grew by one percent in the second quarter of 2011, according to new statistics, with year-on-year growth reaching 5.3 percent. 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 »

Sweden has housing bubble: politician

National: 24 Jul 11
Falling housing prices in Sweden, coupled with a shrinking turnover on the housing market and rising interest rates are increasing the risk of a possible housing bubble, according to an opinion piece in Swedish media by a leading Social Democrat. READ »

Volvo profits up, cautious on outlook

Business & Money: 22 Jul 11
Swedish truck maker Volvo Group on Friday reported strong second quarter earnings but kept its forecasts unchanged on caution at the global economic outlook. READ »

Tallinn’s charms just a luxury ferry ride away

Travel: 14 Jul 11
While the Stockholm archipelago has its undeniable charms, venturing a little further east means a great leap in terms of the culture and history offered by the much-underestimated Baltic countries. READ »

Almedalsveckan costs authorities millions

Politics: 3 Jul 11
Swedish politicians, journalists and lobbyists have gathered on Gotland to partake in Almedalsveckan, an annual political event that is set to cost Swedish authorities 5.2 million kronor ($829,000) according to a Swedish newspaper. READ »

Slower growth ahead for Swedish economy: report

Business & Money: 22 Jun 11
Sweden's economic growth is expected to slow further in 2011 following record strong growth in 2010, according to a new forecast from the Sweden's National Institute of Economic Research. READ »

H&M profits down amid 'challenging' conditions

Business & Money: 22 Jun 11
Swedish fashion retailing giant H&M reported an 18 percent dip in net profits on Wednesday, citing decreased consumer spending and higher supply costs. READ »

'At least 15 countries' spying on Sweden: report

National: 17 Jun 11
Over fifteen countries are systematically conducting intelligence operations against Sweden, while security service Säpo has also carried out more probes into suspected cases of spying on refugees, the agency reported on Thursday. READ »

Swedish tourists head to Greece despite crisis

Business & Money: 16 Jun 11
Greece's spiraling economic and political crisis has done little to dissuade Swedes' from choosing the Mediterranean country as a holiday destination, Swedish travel companies report. READ »


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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 »

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"I’m working on a couple long articles which will be posted here soon. While those are in the works, I thought I’d share this article and interview about my magazine, K Composite, which was recently published on the site Design-Milk.com. Enjoy! Scott Ritcher launched his now digitally glossy mag, K Composite, back when Macs were used..." READ »

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Swedish word of the day

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adjective

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