Page 2 - Sweden

Sweden based Volvo Cars tops forecast but cuts outlook on market slowdown

Volvo Cars said it now expects its retail sales to rise by 7-8% this year, down from a forecast in July of 12-15% growth, anticipating no growth in the fourth quarter

Crackdown on immigrants: Sweden offers Rs 28 lakh to foreigners to leave

Sweden is not alone in offering return grants to migrants. Several European nations have implemented similar measures, although the amounts vary significantly

EU headed for 'economic cold war' with China: Hungary's PM on EV tariff

Earlier on Friday data showed Hungary's industrial output falling by a worse-than-expected 9.5 per cent in August, which Budapest said was due to the weakness of the German economy

Scandinavian airline SAS hails 'new era' as it exits US bankruptcy process

"Now, we must look ahead and complete the transformation that we have started," van der Werff said

Mpox triggers second global alert in 2 years as new variant spreads rapidly

A new mpox variant, clade Ib, detected in Sweden and Pakistan, spreads mainly through household contact and has a higher fatality rate, prompting increased global alert

After Sweden, Pakistan logs suspected case of deadly mpox virus: 10 updates

Mpox cases latest: Before Pakistan, the first international case of this virus in 2024 was detected in Sweden a day ago, triggering fears of its potential spread outside the continent of Africa

Sweden reports case of more infectious form of mpox 1st identified in Congo

Swedish health officials said Thursday they have identified the first case of a person with the more infectious form of mpox first seen in eastern Congo, a day after the World Health Organisation declared the outbreaks there and elsewhere in Africa to be a global emergency. The Swedish public health agency said in a statement the patient recently sought health care in Stockholm. In this case a person has been infected during a stay in the part of Africa where there is a major outbreak of (the more infectious mpox), the agency said. Magnus Gisslen, a state epidemiologist with the Swedish health agency, said the person had been treated and given rules of conduct. The fact that a patient with mpox is treated in the country does not affect the risk to the general population," Swedish officials said, adding that experts estimate that risk to be very low. They said, however, that occasional imported cases may continue to occur. Earlier this year, scientists reported the emergence of a n

Truckmaker Volvo beats profit expectations but says demand is easing

Volvo said profit margins were squeezed by lower sales volumes and increased investment in research and development

How ditching paper money has made Sweden a haven for digital criminals

Online fraud and digital crime in Sweden have surged, with criminals taking 1.2 billion kronor in 2023 through scams

India ranks 63rd on Global Energy Transition Index, Sweden on top: WEF

India has been ranked 63rd on a global Energy Transition Index released on Wednesday by the World Economic Forum, which said the country has shown significant improvement across energy equity, security and sustainability. European nations dominated the top ranks with Sweden topping the index, followed by Denmark, Finland, Switzerland and France in the top five. China was ranked 20th. The improvement shown by India and some other developing countries such as China and Brazil assumes significance as 83 per cent of countries have moved backwards from last year in at least one of the three energy system performance dimensions - security, equity and sustainability. Taking note of various initiatives taken in India, the World Economic Forum (WEF) said the country is leading the way in creating outcomes that can be replicated elsewhere. It said the governments can also consider creating awareness and policy interventions, such as guidelines for energy-efficient built infrastructure and .

Iran swaps EU diplomat for Sweden freeing convict for '88 mass executions

Iran and Sweden carried out a prisoner swap on Saturday that saw Tehran release a European Union diplomat and another man for an Iranian convicted in Stockholm of committing war crimes over his part in 1988 mass executions in the Islamic Republic. The arrest of Hamid Nouri by Sweden in 2019 as he travelled there as a tourist likely sparked the detentions of the two Swedes, part of a long-running strategy by Iran since its 1979 Islamic Revolution to use those with ties abroad as chip in negotiations with the West. As Iranian state television claimed without evidence that Nouri had been illegally detained, Swedish Prime Minister Ulf Kristersson described the detentions of diplomat Johan Floderus and Saeed Azizi as a hell on earth the two men faced. Iran has made these Swedes pawns in a cynical negotiation game with the aim of getting the Iranian citizen Hamid Nouri released from Sweden," Kristersson said. It has been clear all along that this operation would require difficult decision

China's action against Philippine vessels threatens global security: Sweden

Sweden's defense chief has expressed alarm over Beijing's repeated dangerous maneuvers against Philippine vessels in the South China Sea, saying such actions threaten security, undermine stability and underscore the need to invest for our security and freedom. Defense Minister Pl Jonson spoke Thursday night in a diplomatic reception in Manila for Sweden's national day after meeting his Philippine counterpart, Gilberto Teodoro Jr., on expanding defense relations. Sweden is one of the possible sources of supersonic fighter jets that the Philippines plans to acquire as its military shifts focus from decades of fighting communist and Muslim insurgencies to territorial defense. Let me express my deep concern on the repeated dangerous maneuvers against Philippines vessels that have been taking place in the West Philippine Sea and the South China Sea, Jonson said. He did not mention China in his speech but drew applause from an audience that included top Philippine military and security ...

Microsoft to invest $3.2 billion to expand AI, cloud infra in Sweden

The investment, Microsoft's biggest to date in Sweden, includes a pledge to help train some 250,000 people with AI skills

Sweden will donate $1.23 billion in military aid to Ukraine as war rages

The Swedish government said Wednesday that it will donate military aid to Ukraine worth 13 billion Kronor (USD 1.23 billion) in the largest help package Sweden has so far donated. It consists of equipment that is at the top of Ukraine's priority list, Deputy Prime Minister Ebba Busch said. It included air defense, artillery ammunition and armored vehicles. Sweden's Defense Minister Pal Jonsson reiterated that the country has ruled out for now sending any Swedish-built JAS 39 Gripen jets to Ukraine, saying the focus on the Ukrainian side is on implementing the F-16 program. Several countries have said they want to donate F-16 fighter jets. On Tuesday, Belgium pledged 30 F-16 jets to Ukraine. Jonsson said Sweden is still working on possibly being able to contribute with the Gripen system later. The support package will be the 16th from Sweden since Russia's full-scale invasion of Ukraine began.

Govt mulls incentives for heavy duty electric trucks to reduce diesel ones

Electric heavy-duty commercial goods carriers have a wide range of applications in sectors such as mining, ports, infrastructure development, construction, and inter-warehouse freight transport

Sweden to resume funding UN agency for Palestinians as Gaza hunger grows

Another top donor to the UN agency aiding Palestinians said on Saturday that it would resume funding, weeks after more than a dozen countries halted hundreds of millions of dollars in support in response to Israeli allegations against the organisation. Sweden's reversal came as a ship bearing tons of humanitarian aid was making preparations to leave Cyprus for Gaza after international donors launched a sea corridor to supply the besieged territory facing widespread hunger after five months of war. Sweden's decision followed similar ones by the European Union and Canada as the UN agency known as UNRWA warns that it could collapse and leave Gaza's already desperate population of more than 2 million people with even less medical and other assistance. The humanitarian situation in Gaza is devastating and the needs are acute, development minister Johan Forssell said in Sweden's announcement, adding that UNRWA had agreed to increased transparency and stricter oversight and controls. Swede

Sweden officially joins Nato after completing its accession process

Sweden on Thursday formally joined NATO as the 32nd member of the transatlantic military alliance, ending decades of post-World War II neutrality as concerns about Russian aggression in Europe have spiked following Russia's 2022 invasion of Ukraine. Swedish Prime Minister Ulf Kristersson and Secretary of State Antony Blinken presided at a ceremony in which Sweden's instrument of accession to the alliance was officially deposited at the State Department. Later Thursday. Kristersson will visit the White House and then be a guest of honor at President Joe Biden's State of the Union address to Congress. The White House said that having Sweden as a NATO ally will make the United States and our allies even safer. "NATO is the most powerful defensive alliance in the history of the world, and it is as critical today to ensuring the security of our citizens as it was 75 years ago when our alliance was founded out of the wreckage of World War II, it said in a statement. Sweden, along with .

Coast Guard, marine engine maker discuss steps to strengthen Make in India

The Indian Coast Guard has persistently aimed at the indigenisation of spares for foreign-origin equipment installed onboard ICG ships in partnership with Original Equipment Manufacturers (OEM)

H&M's top leader steps down in surprise move after disappointing earnings

H&M's top executive unexpectedly stepped down on Wednesday and the company's stock plunged as the fashion giant reported a drop in sales over the holiday shopping season. Helena Helmersson resigned after four years as CEO and 26 years at the company, saying she was proud of the work done over the past few years, including navigating the COVID-19 pandemic, but that it has been very demanding at times for me personally. She was replaced by Daniel Ervr, who was in charge of the H&M brand and has worked for the Swedish clothing retailer for 18 years. "Our focus will be on offering our customers the best combination of fashion, quality, price and sustainability in an inspiring and attractive shopping environment, Ervr said in a statement. H&M shares fell as much as 11 per cent after the announcement and news that its latest earnings missed analyst expectations. For the last three months of 2023, operating profit margin fell to 7.2 per cent from 7.8 per cent in the previous ...

Sweden keen to cooperate with India on sustainability solutions in aviation

Keen for stronger ties with India, Sweden is looking for cooperation with the country on sustainability solutions in the aviation sector as well as on electrification efforts in the auto space. Besides, Sweden is hoping for the resumption of direct flight services with India, Johan Davidson, Sweden's State Secretary for Infrastructure and Housing, said. In an interview to PTI, he said India is an important partner as it is also the world's fastest growing aviation market. While noting that he is impressed by the country's extensive investments being made in airports and aviation for expansion, he said, "there is a lot of interest in Indian growth and new business opportunities for Swedish companies". Sweden is a leading player in sustainable aviation. More than 80 Swedish companies are active in the sector, with expertise across the value chain and experience in implementing their solutions globally. Davidson, who was on a brief visit to India last week, also said the country is "