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.
Supplied by BECK TRANSLATIONS.
With an experienced team of in-house translators, Beck specialises in translating from Swedish into English in such areas as finance and economics, marketing and advertising, biotechnology, the environment, quality, and personnel & administration.