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.

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.

Stockholm - 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.

Stockholm  - A jury Wednesday named winners from Germany, India, Somalia and the United States as recipients of the 2008 Right Livelihood Awards, often called the Alternative Nobel Prize.

Two of the award winners were from the North and have worked to create ties with the so-called developing world, Ole von Uexkull of the Right Livelihood Foundation said.

Four of the five prize winners were women, he noted.

Stockholm - Swedish heavy-vehicle maker Volvo Trucks said Tuesday it planned to cut some 1,400 jobs in its workforce, citing the need to reduce production capacity over "declining demand for trucks in the European market."

The measures planned for the coming months included cancelling evening shifts and were to affect plants in the Swedish towns of Gothenburg and Umea, and in Ghent in Belgium, Volvo Trucks chief executive Staffan Jufors said in a statement.

Stockholm - Swedish clothing retailer Hennes & Mauritz (H&M) said Tuesday its pre-tax profits for the third quarter 2008 were up 4 per cent, noting that production and transport costs had increased.

H&M pre-tax profits for the third quarter stood at 4.58 billion kronor (678 million dollars), compared to 4.4 billion kronor for the corresponding business period 2007.

The group posted sales of 20.87 billion kronor, excluding value added tax (VAT), for the third quarter, up 12 per cent on the corresponding business period 2007. Third quarter sales had however, been "affected by a weaker retail business in most markets."