Sweden

Heavy vehicle-maker Scania says Russia and CIS drives Q2 income

Stockholm  - Swedish heavy-vehicle and bus maker Scania posted higher second quarter profits Friday, driven by strong demand from Russia, the members of the Commonwealth of Independent States, Latin America and Asia.

Pre-tax profit for the quarter was 4.24 billion kronor (702 million dollars), compared to 2.89 billion kronor for the corresponding business period 2007 - well above analysts forecasts.

Second-quarter sales increased from 20.9 billion kronor to 23.89 billion kronor.

"Order bookings decreased in Europe, while demand was strong in Russia and other CIS countries as well as in Latin America and Asia," Chief Executive Leif Ostling said.

Telia Sonera second-quarter earnings up

Telia SoneraStockholm - Nordic telecommunications group Telia Sonera on Thursday posted higher pre-tax income for second quarter 2008.

The group said earnings before interest, taxes, depreciation and amortization (EBITDA) was 7.97 billion kronor (1.3 billion dollars), compared to 7.51 billion kronor in the corresponding business period 2007.

Sales in the quarter increased 5.7 per cent to 25.27 billion kronor.

Chief Executive Lars Nyberg said operations in Eurasia developed "strongly."

Heavy-vehicle maker Volvo reports big jump in income

StockholmVolvo - Swedish heavy-vehicle maker Volvo on Wednesday reported a 25 per cent increase in pre-tax income for second quarter 2008, citing strong growth in Eastern Europe, South America and Asia.

Pre-tax income was 7.48 billion kronor (1.25 billion dollars), compared to 5.97 billion kronor in the corresponding period 2007 for the Volvo group, excluding the Ford-owned car division.

Net sales were up 13 per cent to 80.4 billion kronor, compared to 71 billion kronor in the corresponding business period 2007 while net income increased 28 per cent to 5.1 billion kronor.

Ericsson profits down by half in second quarter

Stockholm - Swedish telecommunications equipment maker Ericsson on Tuesday posted a 49-per-cent drop in operating income for second quarter 2008 partly impacted by ongoing cost cutting measures.

Operating income was 4.7 billion kronor (789 million dollars), down from 9.3 billion kronor in the corresponding business period 2007.

The group reported 48.5 billion kronor in sales for the quarter, up 2 per cent on the corresponding business quarter 2007 but a weak dollar rate impacted the group.

Net income was 1.9 billion kronor, down 70 per cent on second quarter 2007, the group said, adding that earlier announced cost cuts including plans to lay off some 4,000 employees impacted the group with 1.8 billion kronor in the quarter.

Detained Rwanda genocide suspect to be appointed lawyer in Sweden

Rwanda genocide suspect detained in Sweden

Swedish government to launch more measures against sex trade

sex traderStockholm - The Swedish government Wednesday announced tougher measures to combat prostitution and human trafficking.

The action programme includes tackling the "demand" which fuels the sex trade and human trafficking, Integration and Gender Equality Minister Nyamko Sabuni told reporters.

Sabuni said there was a need to cooperate with neighbouring countries in the Baltic region where many victims of the sex trade were recruited from, and also to help former sex trade workers find other means of supporting themselves.

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