Business

CORONAVIRUS CRISIS

Passengers at Finnish airports fell 91% in October

Foreigner.fi 11/26/20

The crisis in the air transport industry worsens every day, according to the actors involved in the business.

BUDGET AMENDMENT

Government debt expected to total 138 billion at the end of 2021

Foreigner.fi 11/23/20

The government submitted to Parliament its plan to amend the budget proposal for 2021, which allocates additional funding for future-oriented investments and for increased expenditures arising from…

HEALTH RESEARCH

Finland to integrate vaccine efforts into new research company

Foreigner.fi 11/18/20

The government proposes to establish a company to integrate the clinical vaccine research of THL and Tampere University. In addition, the new company is hoped to attract more research…

BUSINESS

Bankruptcies decrease by 15% despite the coronavirus crisis

Foreigner.fi 11/18/20

The number of employees in companies that filed for bankruptcy is 6.2% lower than in the previous year.

US-CHINA TRADE WAR

Huawei sells budget smartphone brand Honor amid US sanctions

Foreigner.fi/dpa 11/17/20

Washington in May tightened sanctions to prevent any company worldwide from using US technology to make chips for Huawei.

AVIATION INDUSTRY CRISIS

Helsinki airport agony threatens to collapse regional airfields

Cesar Calvar 11/17/20

“When international traffic at Helsinki Airport is at a standstill, traffic at the regional airports is also dramatically reduced," says Kimmo Mäki , CEO of Finavia. Last month, the number…

BALANCE OF PAYMENTS

Current account in surplus 100 million euros

Foreigner.fi 11/15/20

The goods account in balance of payment terms was 0.1 billion in surplus, but the service account was in deficit.

NATIONAL ECONOMY

Finland emerges from recession

Foreigner.fi 11/14/20

Finnish gross domestic product (GDP) increased compared to the previous quarter but is still down from one year ago.

INFLATION

Tobacco, vegetables, medical services pushed prices up in October

Foreigner.fi 11/13/20

The price increase from one year back was curbed most by reductions in the prices of hotel rooms and fuels as well as decreases in average interest rate on housing loans.

IMPORTS

Customs reject food with pesticides from Poland, China, Egypt, Peru

Foreigner.fi 11/11/20

At the end of October more shipments of contaminated products had already been rejected than during the entire previous year.

BUSINESS

China's Singles Day: New record for world's largest shopping festival

Foreigner.fi/dpa 11/11/20

The unofficial holiday began as a tongue-in-cheek celebration for single university students in the 1990s, spreading nationwide from Nanjing as a day for young bachelors — known as 'bare…

BUSINESS

Finnish industrial output contracted again

Foreigner.fi 11/10/20

Output in both the forest industry and in electricity, gas, steam and air conditioning supply declined by 7.2% compared with the previous year.

AIR TRAFFIC CRISIS

Norwegian Air's losses grow due to coronavirus pandemic

Foreigner.fi/dpa 11/10/20

Norwegian flew almost 1 million passengers in the third quarter, a drop of 91% year-on-year, and operated only 25 aircraft out of its 140-strong fleet.