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More Swedish companies in China

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12:11 CEST+02:00
The Chinese economy is on a roll and Swedish companies have been quick in jumping on the bandwagon, reported SvD this week, noting that the number of new businesses in the country has risen from 10 to 20 per year since the 90s.

However, the feeling of China being a gold mine for business is far from reality. Bureaucracy and competition from local entrepreneurs are tough opponents for foreign investors. Now, China's leaders have realised the need to revise laws governing the economy to sustain growth, according to SvD, which has written a special report on Swedish companies in the bustling city of Shanghai.

Former Ericsson execs risk tax evasion charges

Several former executives at Ericsson risk tax evasion charges. Apart from the earlier suspicions of impeding tax supervision, chief prosecutor Lage Carlström at the Economic Crimes Bureau is ready with a new, previously unknown part of the investigation where a number of executives are suspected of having cheated the state of taxes in connection with Ericsson's payments to secret agents abroad.

Norwegian gas field a goldmine for Skanska

Skanska has secured a 940-million-krona contract to help build Norway's Ormen Lange gas field. It is the construction group's largest contract ever in Norway.

New Debt Office head plans to cut public debt

Newly appointment director-general of the National Debt Office Bo Lundgren plans to ease Sweden's debt burden of 1,243 billion crowns. In an interview, the former leader of the Moderate Party says he plans to develop savings products for private persons - products that his own political party had severely criticised.

Second-hand companies up for sale

An increasing number of venture capital transactions ends up with other venture capitalists when initial public offerings (IPOs) fail to push through, reported DI.

"It is like transferring money from one pocket to another and this is something we are not prepared to pay for," says a disgruntled Lars Idemark, CEO of the 2nd AP fund.

Sources: Dagens Nyheter, Svenska Dagbladet, Expressen, Aftonbladet, Göteborgs Posten, Dagens Industri

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