Analysts downgrade Ericsson
The Local · 28 Oct 2004, 20:10
Published: 28 Oct 2004 20:10 GMT+02:00
EU Commission rejects grounds for monopoly
In a letter addressed to the Swedish government, the European Commission has rejected the grounds for Swedish gambling legislation and the state gambling monopoly concerning gaming machines.
ABB transfers production to China
ABB chair and CEO Jürgen Dormann said yesterday that the group would be relocating part of its production from Europe to low-cost countries such as China. The engineering group has plans to invest in a manufacturing plant in Xiamen and a research and development centre in Peking and to recruit some 5,000 in China.
Textile maker sets up production in Czech Republic
Gothenburg-based Texla Industri, producers of laminated fabrics for the automotive industry, is to set up a production plant in the Czech Republic as of next year, as demand for their products grows in Eastern Europe.
Orange relinquishes hopes
Orange has relinquished all hope of selling its licence for 3G mobile telephony in Sweden and has submitted an application to the Post and Telecom Agency (PTS) requesting that PTS withdraws its licence.
According to preliminary figures from Statistic Sweden, foreign trade gave a surplus of 17.9 billion kronor in September. The value of visible exports amounted to SKr 81.9 billion while the value of visible imports totalled 64.9 billion crowns.
Rosenberg predicts continued strong growth
Speaking in Stockholm yesterday, Irma Rosenberg, deputy governor of the Riksbank, forecast that international growth would continue to be healthy. While high oil prices push up inflation, the utilisation of resources in the economy is low so inflation will not be in excess of 2 per cent over a 2-year-period, according to the deputy governor. Rosenberg also predicted that Swedish growth would be above 3 per cent in the coming years.
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