Sweden

Poll: Swedes oppose state-ownership of carmakers

Saab LogoStockholm - A majority of Swedes oppose the Swedish state taking temporary control over troubled carmakers Volvo and Saab, according to a poll published Wednesday.

Both carmakers are owned by US groups. Volvo is owned by US giant Ford while Saab is owned by General Motors. Both US companies have posted huge losses and have said they are considering selling their Swedish subsidiaries.

The survey said 49 per cent were against the state stepping in as a temporary owner, while 36 per cent said the favoured it, the Svenska Dagbladet newspaper said.

Sweden freezes aid to Rwanda over support to Congolese rebels

Sweden FlagStockholm - Sweden has decided to freeze aid payments to Rwanda, citing a new United Nations report that alleges that Rwanda has supported Congolese rebels, the government said Wednesday.

Sweden gives Rwanda some 140 million kronor (17 million dollars) a year in aid, including budget support worth some 80 million kronor.

"Sweden views the UN report very seriously and has halted budget support payments," International Development Cooperation Minister Gunilla Carlsson said.

Euro opponents still in majority in Sweden

SwedenStockholm - Swedish opponents of the introduction of the joint European currency, the euro, still have a majority in Swedish public opinion, a new survey said Tuesday.

The survey conducted by Statistics Sweden suggested that roughly 47 per cent opposed replacing the krona with the euro while about 38 per cent favoured introducing the euro if there had been a referendum in November. Some 15 per cent were undecided.

A similar poll in May suggested that some 52 per cent opposed the euro while 35 per cent favoured introducing it, the agency said.

Swedish and Danish central banks approve bridging loans to Latvia

LatviaStockholm/Copenhagen - The central banks of Denmark and Sweden on Tuesday said they have signed a swap agreement with the central bank of Latvia guaranteeing short-term loans of up to 500 million euros (675 million dollars).

The swap agreement allows Latvijas Banka to borrow euro against Latvian lats "when and if the need arises," the statement said.

The Swedish Riksbank said its share was 375 million euros.

Volvo truck deliveries drop 21 per cent in November

Volvo LogoStockholm - Swedish heavy-vehicle maker Volvo on Tuesday said it would introduce stop days in production after November truck deliveries slumped 21 per cent year-on-year.

Gothenburg-based Volvo said it delivered 19,326 trucks during the month.

In order to prevent a build-up of inventory, the group planned some 20 to 25 stop days in production in the first quarter of 2009.

The group said "customers continue to be very cautious and are in most cases waiting with their investment decisions" and in Europe the weak trend from the third quarter continued.

Earthquake rattles southern Sweden, parts of Denmark

Stockholm/Copenhagen  - An earthquake believed to be the strongest in a century shook southern Sweden and parts of neighbouring Denmark early Tuesday, geological institutes said.

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