Sweden

File-sharing website set for court battle with Hollywood

Stockholm  - A Swedish courtroom is set on Monday to become the scene of a showdown between lawyers representing big music and film companies and the operators of a popular website that allegedly acts as a hub for illegal file sharing.

Four men face charges as accessories in violating copyright law, helping others "breach copyright laws" and of making illegal gains by selling advertisements on the Pirate Bay website.

The Pirate Bay website was temporarily shut down in June 2006. Its backers said it was a not-for-profit group and did not store copyrighted material, but only offered a search engine for users who exchange music, films and computer games.

Sweden lays heavyweight great "Ingo" Johansson to rest

Sweden lays heavyweight great "Ingo" Johansson to rest Stockholm - Hundreds of mourners Friday paid tribute to the late Swedish heavyweight champion Ingemar "Ingo" Johansson who died at the end of January at age 76.

Johansson's funeral was held in the west coast city of Gothenburg where he hailed from, and was open to the public. The church which seats some 1,000 people was packed, local media reported.

The mourners left the funeral held in the Vasa Church to the famous tune Frank Sinatra song My Way.

Energy group Vattenfall operating profits down in fourth-quarter

Energy group Vattenfall operating profits down in fourth-quarter Stockholm - Swedish state-owned energy group Vattenfall on Thursday posted a drop in operating profits for the fourth quarter of 2008, and a slight decrease of its full-year electricity production.

Operating profit before tax and interest was 6.5 billion kronor (796 million dollars), down 2.8 per cent year-on-year.

Fourth-quarter turnover increased by 22 per cent to 46 billion kronor while a lower Swedish tax charge contributed to the 10 per cent net profit increase to 4 billion kronor, Vattenfall said.

Banking group Swedbank posts lower fourth-quarter operating profit

Stockholm - Swedish banking group Swedbank fourth-quarter 2008 operating profit declined 23 per cent, the group said Thursday, announcing a write-down of its subsidiary in Ukraine.

Fourth-quarter operating profit was 2.4 billion kronor (294 million dollars), while total income in the quarter increased 26 per cent to 10.34 billion kronor.

The write-down in Ukraine totalled 1.4 billion kronor. In a comment Swedbank chief executive Jan Liden, who is to leave the bank in April, said that "although the short-term outlook in Ukraine is challenging, we are convinced of a positive long-term future."

Sweden urges Zimbabwe unity government to push reform agenda

SwedenStockholm - The Swedish government Wednesday welcomed the unity government formed in Zimbabwe, and hoped it "would provide a step towards resolving the crisis" in the southern African nation.

In a statement issued after Morgan Tsvangirai, leader of the Movement for Democratic Change (MDC) was sworn in as prime minister, International Development Cooperation Minister Gunilla Carlsson said it was "key that the goverment can agree on a comprehensive reform agenda."

Swedish state sells investment bank taken over in November

Carnegie Investment BankStockholm - The Carnegie Investment Bank AB, taken over by the Swedish state in November, has been sold to two investment groups, the Swedish National Debt Office said Wednesday.

The National Debt Office said it would sell the shares in Carnegie Investment Bank AB and Max Matthiessen Holding AB for a total of 2.27 billion kronor (278 million dollars).

The deal with buyers Altor Fund III and Bure Equity AB included some future repayments of some loans awarded by Carnegie.

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