Sweden

Investment group Investor AB reports loss for fourth quarter

Investment group Investor AB reports loss for fourth quarterStockholm - Investor AB, the investment company with key stakes in leading Swedish blue-chip companies, Tuesday reported a loss for fourth quarter 2008 in the wake of the global financial downturn.

For the fourth quarter 2008, the group reported a loss of 15.6 billion kronor (1.9 billion dollars), compared to a loss of 19.2 billion kronor for the corresponding business period 2007.

For full-year 2008, the loss was 36.7 billion kronor compared to a loss of 400 million kronor for full-year 2007, the group said.

Swedish premier visits troops in Afghanistan

Afghanistan MapStockholm - Swedish Prime Minister Fredrik Reinfeldt arrived Monday on an unannounced visit to Swedish troops based in Afghanistan, news reports said.

Sweden is this year to raise its some 400-strong force in northern Afghanistan to around 500.

Along with forces from neighbouring Finland, the Swedish forces are based in Mazar-e-Sharif in northern Afghanistan as part of the NATO-led International Security Assistance Force (ISAF).

Appeal trial ends against German woman over toddler killings

Stockholm - A Swedish prosecutor Monday called for a life sentence to be upheld against a German woman previously convicted for beating to death two young children in Sweden.

Christine Schuerrer was convicted in October of killing a three- year-old boy and one-year-old girl and injuring their mother in an attack on March 17, 2008.

Schuerrer, 32, was convicted without forensic evidence such as DNA or fingerprints linking her to the crime scene in Arboga, central Sweden.

"A life sentence is the only option," prosecutor Frieda Gummesson said in her closing statement, underlining that "exceptional" violence was used against the children and their mother.

Volvo to assemble fewer cars in January, February

Volvo LogoStockholm - Volvo Cars, the Swedish subsidiary of US carmaker Ford, is to assemble fewer cars in the coming two months, reports said Friday.

The decision by management of the Gothenburg-based carmaker was to avert a build-up of unsold vehicles, and production was estimated at 5,000 cars per month for January and February, the Goteborgs-Posten newspaper reported.

"It is still tough and we do not see any major turnaround of orders," Volvo Cars spokeswoman Maria Bohlin told the paper but she did not confirm the paper's production figure.

Sony Ericsson posts fourth-quarter loss after "tumultuous" year

Sony Ericsson posts fourth-quarter loss after "tumultuous" year Stockholm - Mobile telephone maker Sony Ericsson on Friday reported a fourth-quarter loss and lower sales, describing the 2008 business year as "tumultuous" in the wake of the global economic downturn.

The group posted a pre-tax loss excluding restructuring costs of 133 million euros (174 million dollars) for the quarter, compared to a pre-tax profit of 501 million euros for the corresponding business period in 2007.

Restructuring costs in the quarter were 129 million euros.

Sweden criticizes Israeli shelling of UN compound in Gaza

SwedenStockholm - Sweden, one of the major donors to the United Nations Relief and Works Agency (UNWRA) that assists Palestininan refugees in the Gaza Strip and West Bank, on Thursday criticized the Israeli attack on the UN compound in Gaza.

"It is completely unacceptable that UNWRA, the UN's main humanitarian actor in Gaza is attacked in this manner," Swedish International Development Cooperation Minister Gunilla Carlsson said.

Reports suggested that the shells hit the compound earlier Thursday.

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