Saab has submitted a proposal to the Logistics Command of the Finnish Defence Forces offering 64 Gripen aircraft.
The proposal, which is in response to a request for quotation issued in April 2018, consists of single-seat Gripen E and dual-seat Gripen F fighter jets.
“Saab offers a substantial weapon and sensor package as well as the necessary equipment and associated services needed for operating the system, including an industrial co-operation programme with the aim to build extensive national capabilities in Finland for Security of Supply,” said the company.
The offer also includes transfer of maintenance, repair and overhaul capabilities to local industry.
Finland is expected to make a decision in 2021.
Danske Bank analyst Björn Enarson believes the Gripen is one of three aircraft that could win the tender, which is valued at some SEK 60-70 billion.
The Swedish Public Employment Service (Arbetsförmedlingen) is to announce a wave of redundancies later today. Over 4,000 jobs could be axed, in a worse-case scenario, reports newspaper Dagens Nyheter, suggesting it no coincidence that the cuts are being announced on the same day that a government-commissioned inquiry into the future of the Service is to present its findings.
The trigger is said to be the Moderate-Christian Democratic budget, passed through parliament in December, which cut appropriations to the Service. Director General Mikael Sjöberg has warned that the redundancies will affect job seekers.
Preem has confirmed that its founder and owner, Saudi-Ethiopian billionaire Mohammed al-Amoudi, has been released more than a year after his arrest in Saudi Arabia. A statement is expected later today.
Al-Amoudi was one of hundreds of princes, ministers and businessmen who were detained by an anti-corruption unit led by Saudi Crown Prince Mohammed bin Salman in autumn 2017.
Al-Amoudi is one of Sweden’s largest foreign investors and the majority of his assets are held in the Preem petroleum company, as well as in the Midroc conglomerate and Svenska Petroleum Exploration.
Yesterday, Zalando opened a new giant warehouse in Upplands-Bro outside of Stockholm with the aim of halving delivery times in the Nordic region. The company is hoping to approach a sales target of SEK 10 billion in the Nordic countries within 3-5 years with the new warehouse.
The Swedish website has been around for six years and free delivery, free returns, local customer service and short delivery times have been part of the growth strategy.
Although the warehouse is said to be the company’s most automated, much is done manually and by the end of the year it is expected to employ 500 people.
In a debate article in Dagens Industri (DI), representatives of four Chambers of Commerce write that it is of utmost importance that discussions about financing are resumed as soon as possible with the goal of producing new mainlines for high-speed trains, which Sweden needs.
Building them within the framework of traditional funding would lead to construction times of almost 70 years and risk squeezing out other necessary infrastructure investment. This is unacceptable and means high construction costs. This requires alternative financing.
They also write that the government needs to give the Swedish Transport Administration a clear position, for example, on the speed the tracks will need to accommodate. The Administration’s inquiries show that the total cost over the lifetime of the tracks is lower if they are built for 320 km/h than 250 km/h. Even so it proposes a lower speed as the investment cost is lower.
This solution not only paves the way for slower trains but also higher maintenance costs for coming generations.
Since Birgitte Bonnesen became CEO for Swedbank, she has made several management changes, and on Tuesday it was time again. Christer Trädgårdh, who she appointed to head of the business area Swedish Banking less than three years ago, is being moved backstage to a newly created post as assistant group credit manager.
This move stands out from others, and led the share price to dip 1.2 per cent. Swedish Banking is the largest business area and it is CEO Birgitte Bonnesen who is taking over. DI writes that this could indicate two things: there has been too little time to find a replacement or that she sees a need to step in, and everything points to the latter.
Swedbank denies any dissatisfaction with developments in the business area or any conflict, neither does it say how long Bonnesen will take on the role.
Rapid changes to the energy sector are required to prevent cold winter days bringing power cuts to homes and stopping industry, according to Swedenergy, the interest organisation for energy companies, which is demanding action from the government.
The new Energy Minister Anders Ygeman (S) has several issues to deal with, believes Swedenergy. CEO Pernilla Winnhed points out three priority issues: expanding the grid, determining how secure the power supply should be and protecting district heating.
“In some regions, the power grid is already so full that its transfer capacity is insufficient… Sometimes you need to decline new industry and delay expansion to rail traffic because of the network,” says Pernilla Winnhed.
The government wants to legislate temporary laws to soften the immediate effects of a hard Brexit.
“In the case of a hard Brexit, it will be particularly important for Sweden to do what it can to make it easier for Swedes who live in the UK and Brits who live in Sweden,” says EU Minister Ann Linde.
The government wants to introduce temporary rules to ensure that pensioners do not lose their pensions overnight if the UK crashes out of the EU in March.
Sweden’s central bank, the Riksbank, has rejected the findings of a study co-signed by former US Treasury Secretary Lawrence Summer which criticised negative interest rates and drew the conclusion that they are harmful to the economy because they hurt bank profits, reports Bloomberg.
Riksbank Deputy Governor Kerstin af Jochnick says the study has looked at the wrong data and has therefore missed the fact that negative rates have contributed to keeping amortisation rates down.
Riksbank Deputy Governor Cecilia Skingsley told reporters on Wednesday that external factors remain the biggest risk in terms of the central bank’s monetary policy. The risks observed are unlikely to disappear in the near term, mainly due to the uncertainty over Brexit, EU cooperation and political developments in the US and its relationship with other countries. “It is troubling,” she said.
Commenting Tuesday’s Brexit vote, Skingsley said it was to be expected that Theresa May’s deal would be voted down. Nonetheless, the scale of the defeat was so great that new proposals will need to be made by the British government, although “it is hard to know what these will be”.
We are a small, but qualified team of graduates in politics, economics, English and classics dedicated to providing quality news digests in English that offer readers a first-hand look at the most important topics covered by the Swedish press. Here you will find a selection of the articles that are published in our Swedish Press Review.