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Sweden's treasury coffers swell as petrol prices rise

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12:53 CEST+02:00
Rising petrol prices are helping the Treasury coffers to swell, reported DI this week. Since the beginning of the year, VAT revenue has increased by around one billion kronor.

And, there is no indication that prices will fall in the near future. On Friday last week OK-Q8 raised the price of 95 octane petrol to 10.64 crowns per litre, just 4 öre below the previous all-time high of 10.68 crowns per litre which was set in May 2001.

Few new job vacancies

The number of new job vacancies continues to fall despite an upswing in the Swedish economy. During the first nine months alone, the number of new vacancies fell by 13 per cent compared to the corresponding period last year.

Local governments’ weak finances are contributing to the drop, but job growth is low even within the manufacturing industry - mainly as a result of good productivity.

Getinge issues profit warning

Getinge’s chief executive Johan Malmquist surprised the market on Monday morning by issuing a profit warning for the third quarter. The provider of health care equipment is forecasting pre-tax profits in Q3 of some 40-50 million crowns less than expected but stills forecasts profit growth of 20 per cent and a pre-tax profit of 1.3 billion crowns for the full year.

UNS raises recommendation for Eniro

Investment bank UBS has raised its neutral recommendation to buy on Eniro just two days before Tomas Franzén, the new chief executive of the directory company, is to present Eniro’s new strategy at a capital market day in Stockholm.

Investor builds up telecoms empire

In the past few years the Wallenberg sphere’s Investor has managed to create a new telecommunications empire in Sweden, reported SvD. The sphere now controls companies such as Ericsson, Bredbandsbolaget, Com hem and 3G operator 3.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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