Sweden

Sweden and Denmark move to protect deposits

Stockholm/Copenhagen  -Sweden and Denmark move to protect deposits Sweden and Denmark on Monday joined the growing group of European countries that have raised state guarantees for bank deposits amid the ongoing financial turmoil.

The Swedish government said it planned to double the state guarantee to 500,000 kronor (70,000 dollars) for deposits in Swedish- owned banks.

"The measure aims at ensuring that savers continue to trust the financial system," Finance Minister Anders Borg and Local Government and Financial Markets Minister Mats Odell said.

Archaeologists uncover Viking-era church in Sweden

Stockholm, Oct 6 : The remains of a Viking-era stave church, including the skeletal remains of a woman, have been uncovered near the cemetery of the Lannas church in Odensbacken outside Orebro in central Sweden.

Stave churches, common in medieval northern Europe, are constructed with timber framing and walls filled with vertical planks.

According to a report in The Local, the site was excavated late in the summer following an examination of the area in preparation for the building of a new parish home.

Schools slammed over surveillance cameras

Sweden FlagStockholm  - Swedish schools were criticized Thursday for widespread use of surveillance cameras inside their premises, violating personal integrity rules.

The Swedish Data Inspection Board that issued the criticism based its findings after inspecting seven randomly selected schools, saying they used surveillance cameras indiscriminately.

About one in five Swedish schools have surveillance cameras.

The decision to shut off the cameras during daytime hours was to apply country-wide, Goran Graslund, head of the board, said, citing the privacy protection law.

Swedish central bank creates loan facility to ease credit squeeze

Stockholm  - The Swedish central bank Thursday said it has created a 60-billion-kronor (8.7 billion dollars) loan facility in Swedish currency to make it easier to access credits.

While "Swedish banks have plenty of capital and limited loan losses, but the markets for long-term credit are functioning less efficiently. If this continues, there is a risk it will have negative effects on the credit supply for banks, companies and households in Sweden," Riksbanken Governor Stefan Ingves said in a statement explaining the decision.

An initial auction for the three-month loan was due for Monday (October 6), the central bank said. A second auction was slated for October 27.

Brazil to consider Swedish JAS Gripen jet fighters

Stockholm - Swedish-made jet fighter JAS Gripen has been listed as a candidate by the Brazilian Air Force in plans to modernize its fleet, the company said Thursday.

Gripen International, owned by the Saab defence group of Sweden, said the next generation JAS Gripen fighter was suitable for Brazil's needs, and the country could count on "full support regarding spare parts, logistics and training."

Defence group Saab said it was prepared to "share know-how" and transfer technology to Brazil as part of a possible package.

Brazil plans to buy 36 jet fighters. JAS Gripen rivals include the French-made Dassault Rafale and the F-18 Super Hornet made by US manufacturer Boeing.

Church brochure raises eyebrows

Church brochure raises eyebrowsStockholm - A church brochure illustrated with what appeared to be a cannabis leaf has raised eyebrows in the northern Swedish city of Umea, reports said Wednesday.

The brochure also contained a headline saying the activities were for people who were "curious" and wanting "to try it out," the Vasterbottens-Kuriren newspaper reported.

The Hedlunda Church distributed the brochure in its neighbourhood areas in western Umea in August inviting people to attend activities ranging from children's choir practice to the scouts.

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