Stockholm

Energy group: No decision to sell Swedish power grid

Energy group: No decision to sell Swedish power grid Stockholm - Swedish state-owned utility Vattenfall said Wednesday it was not planning to sell its electricity network in Sweden, partly to raise funds for investments in British nuclear power plants as suggested in a media report.

"No such decision has been taken either by the group management or the board," Vattenfall said in a statement.

Broadcaster TV4 earlier quoted a Vattenfall document suggesting that the sale of the grid would generate 50 billion kronor (7.3 billion dollars).

UN's Ban says Copenhagen climate talks should "not be wasted"

UN's Ban says Copenhagen climate talks should "not be wasted"Stockholm  - UN Secretary General Ban Ki-moon on Saturday called the UN climate change conference in Copenhagen that opens in one month's time "a unique opportunity that should not be wasted."

"It is crucial that we achieve an ambitious climate agreement in Copenhagen," Ban wrote in an article penned exclusively for the Stockholm daily Svenska Dagbladet.

SAS airline group posts 21m dollar third-quarter profits

SAS airline group posts 21m dollar third-quarter profitsStockholm - The SAS Group, operator of the joint carrier Scandinavian Airlines, on Thursday reported a third-quarter profit despite lower turnover in the wake of the global recession.

The net profit was 152 million kronor (21 million dollars), including nonrecurring items. A year ago the group posted a loss of 1.9 billion kronor.

Turnover fell 16 per cent to 11.06 billion kronor in the quarter.

Croatia EU accession back on course as Slovenia border row settled

Croatia, Stockholm, SwedenStockholm  - Slovenia and Croatia on Wednesday signed a agreement ending a long-standing border dispute that has blocked Croatia's accession talks with the European Union.

The two country's prime ministers signed the deal in Stockholm - Sweden is the current holder of the rotating EU presidency.

The dispute centres on the obscure north Adriatic bay of Piran, and dates back to 1991 and the breakup of Yugoslavia.

Attending the ceremony in Sweden were the prime ministers of Croatia, Jadranka Kosor, Slovenia, Borut Pahor and Fredrik Reinfeldt of Sweden.

Volvo to offer XC90 SUV as seven-seater only

Volvo to offer XC90 SUV as seven-seater onlyStockholm  - Volvo is to offer its Sports Utility Vehicle (SUV), the XC90 in only the seven-seat version on the European market with a third row of seats including two additional child seats by the end of this year, the Swedish manufacturer has announced.

The third-row seats can be folded completely into the floor area, extending the load volume. The three individual second-row seats can also be folded down manually and adjusted individually. Additional air ducts in the floor area improve the air conditioning.

Swedish reactor owners should prepare for higher damages

Swedish reactor owners should prepare for higher damages Stockholm - Owners of reactors should be prepared to pay higher damages in case of an accident, a government inquiry said Monday as Sweden moved to allow current reactors to be replaced by new ones.

Environment Minister Andreas Carlgren welcomed the proposal that is to be subject to a public consultation process.

"It is important that the owners of the reactors take full responsibility for security and insurances," Carlgren said.

Offer made to settle row over Swedish crime writer's estate

Offer made to settle row over Swedish crime writer's estate Stockholm - The multi-million dollar legal wrangling over the estate of the best-selling Swedish crime writer Stieg Larsson's estate took a new twist Monday - with a surprise offer of 20 million kronor (2.8 million dollars) to his long-time partner, Eva Gabrielsson.

Larsson, who died of a heart attack at age 50 in 2004, has scored posthumous success with his so-called Millennium Trilogy that has been translated into several languages including English and German.

Sweden's Bildt: Afghan authorities to assess presidential runoff

Sweden's Bildt: Afghan authorities to assess presidential runoff Stockholm  - Afghan presidential candidate Abdullah Abdullah's decision to pull out of a scheduled runoff has to be assessed by Afghan authorities including the Independent Election Commission and Supreme Court, Swedish Foreign Minister Carl Bildt said.

Bildt late Sunday said he had "no idea" if there would be a runoff or not, saying there were numerous conflicting reports from Kabul.

Swedish companies form joint venture, mull nuclear reactor

Swedish companies form joint venture, mull nuclear reactor Stockholm - Swedish state-owned utility Vattenfall and a group of five electricity-intensive companies Friday announced plans to cooperate on future power production.

A joint venture between Vattenfall and the Industrikraft group was to study the feasibility of various energy sources, including renewables as well as possibly building a new nuclear reactor to ensure cheap "baseload power."

Court: Procurement of armoured vehicles violated Swedish laws

Swedish-Defence-Materiel-AdministrationStockholm - A several-hundred-million euro order for over 100 Finnish-built armoured vehicles for the Swedish military violated public procurement laws and must be redone, a court ruled Thursday.

In a surprise move, the Swedish Defence Materiel Administration (FMV) in June said it planned to buy the eight-wheel vehicles from the Finnish company Patria Land & Armament Oy instead of the Swedish- based Hagglunds.

The order for 113 armoured vehicles and other equipment is worth 240 million euros (355 million dollars).

Ford: Chinese group Geely "preferred bidder" for Volvo Cars

Ford: Chinese group Geely "preferred bidder" for Volvo Cars Stockholm - Chinese group Geely is the "preferred bidder" for Volvo Cars the Swedish subsidiary of Ford, the US automotive giant said Wednesday.

Ford's statement issued at its US headquarters in Dearborn, Michigan, confirmed speculation that Geely was the frontrunner in the possible sale of Volvo Cars.

Ford, which bought Volvo Cars in 1999, earlier this year said it wants to sell the carmaker that has its main base in Sweden's west coast city Gothenburg.

Third-quarter results for Nordea and Handelsbanken top forecasts

SAP company reports lower Q3 sales, higher surplusStockholm - Nordic banking group Nordea and its Swedish rival Handelsbanken on Wednesday reported third-quarter results that topped analysts' estimates.

Nordea said operating profit declined 2 per cent year-on-year to 832 million euros (1.2 billion dollars) while turnover increased 14 per cent year-on-year to 1.99 billion euros, resulting in a net profit of 626 million euros.

Compared to second-quarter 2009, the operating profit was up 2 per cent.

Third-quarter results for Nordea and Handelsbanken top forecasts

SAP company reports lower Q3 sales, higher surplusStockholm - Nordic banking group Nordea and its Swedish rival Handelsbanken on Wednesday reported third-quarter results that topped analysts' estimates.

Nordea said operating profit declined 2 per cent year-on-year to 832 million euros (1.2 billion dollars) while turnover increased 14 per cent year-on-year to 1.99 billion euros, resulting in a net profit of 626 million euros.

Compared to second-quarter 2009, the operating profit was up 2 per cent.

Nordic group Telia Sonera reports higher third-quarter earnings

Nordic group Telia Sonera reports higher third-quarter earningsStockholm  - Nordic telecommunications group Telia Sonera on Wednesday reported higher sales and earnings for third-quarter 2009, topping analysts' forecasts.

Net income rose 5 per cent to 5.6 billion kronor (809 million dollars) while third-quarter sales were up 4 per cent year-on-year to 27 billion kronor, the group said.

Chief executive Lars Nyberg said the group was continuing its cost-cutting measures and had been able to offset some effects of the recession through its "mix of mature and emerging markets."

Vattenfall third-quarter operating profits fall 37 per cent

Vattenfall third-quarter operating profits fall 37 per centStockholm  - Swedish state-owned energy group Vattenfall on Tuesday reported a 37 per cent drop in third-quarter operating profits, citing lower electricity demand amidst the recession.

Operating profit before tax and interest was 3.5 billion kronor (514 million dollars), down 37 per cent year-on-year while net profits shrank nearly 75 per cent to 622 million kronor.

Operating and maintenance costs were 1.7 billion kronor.

Another name drops out of Sweden coach race

Hans BackeStockholm  - Swedish coach Hans Backe, mentioned in speculation for the vacant position as Sweden coach, has likely dropped out of the race, reports said Monday.

"I feel more comfortable coaching a club," Backe, 57, was quoted as telling the online football site fotbollskanalen. se.

The website reported that Backe was heading to England on Monday for talks with Notts County where compatriot Sven-Goran Eriksson is director of football.

The duo worked together during Eriksson's stints as manager for Mexico as well as Premier League side Manchester City.

Heavy-vehicle maker Scania reports severe Q3 profits drop

Heavy-vehicle maker Scania reports severe Q3 profits dropStockholm  - Falling vehicle deliveries severely hurt Swedish heavy-vehicle maker Scania, with the company reporting a more than 80 per cent drop in pre-tax third-quarter earnings, to 383 million kronor (56 million dollars).

The pre-tax earnings compares with a pre-tax profit of 2.5 billion kronor in the same quarter of 2008. This year's third-quarter net profit was 278 million kronor.

"Vehicle deliveries decreased by nearly 50 per cent and were the main explanation for the earnings downturn," Chief Executive Leif Ostling commented.

Home appliance maker Electrolux nearly doubles Q3 earnings

Stockholm  - Swedish home appliance maker Electrolux topped analyst projections on Monday, reporting nearly-doubled its third- quarter earnings.

The group posted a pre-tax profit of 2.2 billion kronor (324 million dollars), compared to 1.2 billion kronor in the corresponding business period 2008. The year-on-year net profit grew from 847 million to 1.6 billion kronor.

Net sales were up 4.8 per cent to 27.7 billion kronor in the quarter.

Chief Executive Hans Straberg said in a statement that markets remained "weak" and although the North American was stabilizing, "the European market has not yet hit bottom."

Injured Soderling hands Baghdatis a final against Rochus

Marcos-BaghdatisStockholm - Marcos Baghdatis reached his first final in more than two years Saturday as top seed Robin Soderling retired before their Stockholm Open semi-final with a right elbow injury.

The walkover thrust the 2006 Australian Open finalist from Cyprus into the Sunday title match against 87th-ranked Belgian Oliver Rochus, who beat Brazil's Thomaz Bellucci 7-6 (7-4), 4-6, 6-3 in almost 2 hours 30 minutes.

Baghdatis last won a title in Zagreb more than two and a half years ago and will play his first final since summer of that year in Halle, Germany.

Bellucci blasts Johansson for Stockholm semi-final spot

Tomaz BellucciStockholm - Tomaz Bellucci of Brazil reached his second semi-final in three months Friday with a huge serving performance to defeat Swede Joachim Johansson 7-6
(7-4), 6-3 at the Stockholm Open.

Bellucci, 21, the August winner in Gstaad on clay, rained down 18 aces, but had to deal with 13 off the racket of Johansson, the number 511 whose interrupted career has been a drama of shoulder injuries and long periods of inactivity.

The Swede, 27, was playing only his fifth ATP match of the season and fourth Stockholm quarter-final. Bellucci's serve was never broken while Johansson saved four of the five break points he faced.




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