Business

AIR TRAFFIC CRISIS

Government begins preparations to rescue Finnair

Foreigner.fi 12/16/20

The future financing arrangement will require approval from the European Commission ’s competition authority.

BUSINESS

Industry turnover falls for the tenth consecutive month

Foreigner.fi 12/16/20

Turnover in the chemical industry decreased by 12.7% and turnover in the forest industry by 8.4% from twelve months earlier.

CORONAVIRUS CRISIS

Covid-19 pandemic weighs on clothing retailer H&M sales

Foreigner.fi/dpa 12/15/20

Sales, measured in local currencies, dropped 10% year-on-year in the September-to-November period

BUSINESS

Stockmann struggles to survive by selling its department stores

Foreigner.fi 12/14/20

The restructuring plan consists of the sale and lease of the company's buildings in Helsinki, Tallinn and Riga.

CONSUMER PRICES

Prices of vegetables, housing, medical services raise inflation

Foreigner.fi 12/14/20

The rising of inflation from one year back was curbed most by reductions in the prices of fuels and hotel rooms.

BALANCE OF PAYMENTS

Finland's current account in surplus for third consecutive month

Foreigner.fi 12/13/20

The value of imports in terms of balance of payments decreased more than that of exports. The service account was in deficit.

BUSINESS

Finnish forestry industry output plummets, monthly and annually

Foreigner.fi 12/10/20

The total production of Finnish industry improved compared to the previous month, but is still far from the level of a year ago and with some industries unable to emerge from the crisis.

AIR TRAFFIC CRISIS

Norway court approves Norwegian Air reconstruction application

Foreigner.fi 12/9/20

Last month, the carrier reported a third quarter net loss of 980 million kroner (108 million dollars), as the coronavirus pandemic caused a sharp drop in demand for air travel.

AIR TRAFFIC CRISIS

Finnair's passenger traffic plummeted 92% in November

Foreigner.fi 12/8/20

Passenger numbers decreased in Asian traffic by 98.3%, in North Atlantic traffic by 100%, in European traffic by 93.8% and in domestic traffic by 80.3%.

SEA TRANSPORT

Maritime transport decreases due to fall in imports

Foreigner.fi 12/8/20

A total of 363,706 people were transported in passenger traffic in October, which is 76% less compared with a year ago.

BUSINESS

40% of Finnish companies use the Internet of Things

Foreigner.fi 12/5/20

These devices or systems are used less often in construction and professional, scientific and technical activities.

Old houses in the Metropolitan area. Photo: Foreigner.fi

HOUSING

Price of existing detached houses in Helsinki twice the country's average

Foreigner.fi 12/4/20

The average price per square meter in the Helsinki metropolitan area is 3,402 euros.

BUSINESS

Sales of electric and hybrid cars in Finland grow 61% year-on-year

Foreigner.fi 12/4/20

New passenger car registrations in fell 15% in November and 16.7% so far this year.

BUSINESS

Government grants 7.7 million for projects replacing coal energy

Foreigner.fi 12/2/20

The Ministry of Economic Affairs has reserved 90 million euros for the investment aid. Applications for projects that replace coal power will be accepted by 28 February 2021.

BUSINESS

Finnish retail sales and turnover grew year over year

Foreigner.fi 12/2/20

This improvement in sales was especially visible in daily consumer goods.

HOUSING

Prices of existing homes keep rising in Helsinki, fell in Oulu, Turku

Foreigner.fi 12/1/20

In October, prices of old dwellings in housing companies rose by 4.1% in Greater Helsinki and by 1.4% in the rest of Finland.

BUSINESS

Neste to dismiss 370 workers, 100 less than previously announced

Foreigner.fi 11/30/20

The state-owned oil company has concluded codetermination negotiations that will lead to the closure of the Naantali refinery in March 2021.

BUSINESS

Turnover of large Finnish companies fell for tenth month in a row

Foreigner.fi 11/30/20

Despite better resisting the coronavirus crisis, large Finnish enterprises have not recorded a single month of year-on-year turnover growth in 2020.

BUSINESS

Consumer confidence in Finnish economy improved in November

Foreigner.fi 11/28/20

Expectations concerning the development of the unemployment situation also improved, although they remained on a gloomy level.

NATIONAL ACCOUNTS

Finnish economy sees 3.3% rebound in Q3 after recession

Foreigner.fi 11/27/20

Gross domestic product grew by 3.3 per cent from the previous quarter. Private consumption went up by 2.9% from the previous quarter but contracted by 3.6% from twelve months back.

Government begins preparations to rescue Finnair

Industry turnover falls for the tenth consecutive month

Covid-19 pandemic weighs on clothing retailer H&M sales

Stockmann struggles to survive by selling its department stores

Prices of vegetables, housing, medical services raise inflation

Finland's current account in surplus for third consecutive month

Finnish forestry industry output plummets, monthly and annually

Norway court approves Norwegian Air reconstruction application

Finnair's passenger traffic plummeted 92% in November

Maritime transport decreases due to fall in imports

40% of Finnish companies use the Internet of Things

Price of existing detached houses in Helsinki twice the country's average

Sales of electric and hybrid cars in Finland grow 61% year-on-year

Government grants 7.7 million for projects replacing coal energy

Finnish retail sales and turnover grew year over year

Prices of existing homes keep rising in Helsinki, fell in Oulu, Turku

Neste to dismiss 370 workers, 100 less than previously announced

Turnover of large Finnish companies fell for tenth month in a row

Consumer confidence in Finnish economy improved in November

Finnish economy sees 3.3% rebound in Q3 after recession

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