Niinisto "seriously considering" running for president -Iltalehti
Helsinki, August 30 (STT)
Sauli Niinisto (cons), the speaker of Parliament, said in an interview with Finnish tabloid Iltalehti on Saturday that he was seriously considering candidacy in Finland's 2012 presidential elections.

Several opinion polls published during the summer have placed Niinisto as the favourite to be Finland's next president.

Niinisto said he was pleased about the support but that the presidential elections were still far in the future.

"The elections are still so far away that talking about them now is a bit like children waiting for Santa Claus in June," Niinisto told the tabloid.

Tarja Halonen, Finland's president, is currently serving her second six-year term, the maximum number allowed by the constitution.

EK would raise retirement age to 70 -Kansan Uutiset
Helsinki, August 20 (STT)
The Confederation of Finnish Industries (EK) would raise retirement age to 70, Left Alliance organ Kansan Uutiset reported on Friday.

According to Lasse Laatunen, head of legal affairs at EK, Finland should learn from the example set by Germany because the countries face similar challenges with aging populations.

In Germany, retirement age has been lifted from 65 to 67 years. This should be increased further, to 70, according to experts.

Raising the retirement age is a necessary step. Efforts to extend working careers from the beginning, develop working conditions and reduce unemployment will not solve the problem, Laatunen continued.

According to the EK, retirement age must be lifted because of Finland's aging population and pressure to increase employment pension payments, amongst other things.

Finland may only be second best in Newsweek ranking -Ilta-Sanomat
Helsinki, August 18 (STT)
Finland may actually have only taken second place in the American magazine Newsweek's ranking for best country to live in, Finnish tabloid Ilta-Sanomat reported on Wednesday.

According to the tabloid, Newsweek may have mixed up the total scores for Finland who came first and Switzerland that took second place.

If the category points announced on Newsweek's website are totalled for Finland and Switzerland, the results are 89.0 and 89.3 respectively, according to Ilta-Sanomat. This would switch the ranking of the two countries at the top of the list.

Newsweek published a list on Monday in which countries were ranked for opportunities to live in a healthy, safe, reasonably well-off and progressive society. The study divided categories into education, health, quality of life, economic competitiveness and political environment.

Newsweek ranks Finland top of Best Countries list
Helsinki, August 16 (STT)
In its Best Countries special issue published on Monday, American news magazine Newsweek ranked Finland top out of one hundred countries.

The survey measured five categories of national well being; education, health, quality of life, economic competitiveness and political environment. Countries were also divided into groups based on size and income.

Finland was ranked top for education and fourth in quality of life. It was also took fifth place for political environment and eighth for economic competitiveness. Although only education took the top ranking and health fell to seventeenth place, overall Finland's points took the lead.

Overall the Nordic countries did well in the ranking. Sweden came second, Norway fifth and Denmark tenth. According to Newsweek this suggests that "being small and rich is best".

PM Kiviniemi hesitant about budget cuts
Helsinki, August 16 (STT)
Mari Kiviniemi, Centre Party chair and Finland's prime minister, told the Centre's floor group at their summer meeting in Kuopio over the weekend that she wanted the national budget to be balanced through encouraging economic growth rather than focusing on cuts.

According to Kiviniemi, the Centre Party will only resort to cuts when all other options have been exhausted.

Another suggestion put forwards by the party leader was that the municipal taxes should be put through an inflation check to ensure those who are less well off are also supported by the budget.

Kiviniemi also defended her government against accusations of inactivity ahead of next April's elections. The prime minister insisted that the Centre Party would not stop working in government until its time was up.

Russian export ban on Finnish dairy products continues partially
Helsinki, August 16 (STT)
Despite promises to lift its export ban, the Russian Federal Service for Veterinary and Phytosanitary Surveillance has continued to impose export restrictions on some Finnish dairy products on Monday.

The restrictions continue to be in place for companies such as Ingman, who according to the Finnish Food Safety Authority (Evira) have not succeeded in fulfilling requirements set by Russian officials. Even though Ingman's exports to Russia are limited, an export ban in the current challenging economic climate is problematic for the company.

Russia imposed the export ban on Finnish meat and dairy products in mid July. The restrictions on dairy products were to be lifted already on 6 August, while additional inspections in meat processing facilities are still pending.

The restrictions are also in place for dairy Hameenlinnan Osuusmeijeri and Finland's Nestle.

Finnish economy shows strong growth in June
Helsinki, August 13 (STT)
The Finnish economy is showing strong trend of growth this summer, according to figures published by Statistics Finland on Friday.

The working-day adjusted national output grew by 5.1 per cent from the year-ago period in June. The positive growth trend continues from May when output increased by 5.2 per cent from figures one year earlier.

Seasonally adjusted output in the whole April to June period is also estimated to have grown by 3.1 per cent from the first quarter.

Nokia's market share drops -Gartner
Helsinki, August 12 (STT)
Market research company Gartner told on Thursday that the market share of Nokia, a leading mobile phone maker from Finland, has fallen.

Nokia's share in handset markets fell to 34.2 per cent in the second quarter, a drop from 36.8 per cent the year before.

The company's range of basic handsets continues to perform well, but their high-end mobile phones are still unable to compete with rival Apple's hit product, iPhone, Gartner added.

Katainen fears tight budget would have risked economic growth
Helsinki, August 11 (STT)
On Wednesday Jyrki Katainen (cons), Finland's finance minister, justified his budget proposal to the rest of the National Coalition's leadership at their meeting in Vaasa with the fear that a tighter budget could strangle the budding growth in the economy.

Katainen explained that a balance is needed between encouraging economic growth and political decisions that could restrict it.

Sauli Niinisto, the speaker of Parliament, and other National Coalition representatives have previously voiced criticism over the finance ministry's budget proposal being too high on spending.

Katainen admitted that Finland falling further into debt raises some concerns, but added that the rate of borrowing was slowing down. He also pointed out that back in March the state was expected to have to borrow even more than is set out in the current budget proposal.

Keskinen to organise next year's world sauna championships
Helsinki, August 9 (STT)
Finland's Vesa Keskinen, a celebrity shopkeeper, said Monday that he would organise the world sauna championships next year.

The founders of the original world sauna championships in Heinola said they would not be hosting the competition again after Russia's Vladimir Ladyzhenskie died and Finland's Timo Kaukonen was taken to hospital to be treated for severe burns during the final on Saturday.

According to Keskinen, the competition will be held again next year after a thorough review of the competition regulations has been completed by medical professionals.

The safety of the competition was questioned already some ten years ago when a doctor complained that several competitors had required medical attention. Despite the medical risks, the championships were permitted to continue, but with additional first aid instructions and more information for participants.

Steady growth for Finnish June exports
Helsinki, August 9 (STT)
According to preliminary data from the Finnish National Board of Customs on Monday, exports in June grew by a quarter from the year-ago-period.

Particularly exports of forestry and metal industry products contributed to growth. Aeroplane deliveries amounting to some 125 million euros also took place in June.

June's figures continued May's growth trend, when the value of exports rose by one fifth compared to the previous year.

Finnish manufacturing outlook score drops qtr/qtr -EK
Helsinki, August 5 (STT)
The Confederation of Finnish Industries (EK) said in a statement Thursday its quarterly manufacturing outlook indicator had scored +16 points, down from +29 points in the previous quarter.

The year-ago score was -51 points.

"Economic conditions have improved from a very weak base to a level that is almost back to normal," the business lobby said.

"The economic outlook for the coming months is fairly positive in all the main sectors. The gradual recovery is forecast to continue in the rest of 2010 and into the new year."

EK added that manufacturing companies had reported a considerable sequential increase in their order intake.

The EK's construction confidence indicator fell to +12 points from +20 points in April, with the services indicator scoring +14 points, up from +6 in April.

Finnish transport ministry summons crisis meeting over flights
Helsinki, August 4 (STT)
The Finnish transport and communications ministry announced Tuesday it would hold a crisis meeting over Finncomm's flights, vowing to take action in order to safeguard domestic commercial aviation.

Finnish Commuter Airlines (Finncomm) is to axe its services to Jyvaskyla, Pori and Seinajoki, leaving the latter two towns without scheduled services altogether.

Anu Vehvilainen (centre), the transport minister, said she would invite local, provincial and business leaders to discuss the situation in Helsinki on Friday.

She added that the ministry would commission a report on the future of domestic air links.

"The primary concern is to find a new operator for the missing routes," Vehvilainen said.

"It is important that the matter is solved on a commercial basis and that the interruption in air traffic remains as short as possible.

The minister said government subsidies were treated as a measure of last resort.

Anni Sinnemaki (green), the labour minister, said there was a stronger case for subsidising flights to Pori than to Seinajoki given the latter was well served by a railway.

Finnish flag carrier Finnair and Scandinavian Airlines subsidiary Blue1 have expressed interest in replacing Finncomm's routes.

Foreign labour divides Finnish parties -STT poll
Helsinki, August 4 (STT)
Finnish parties are sharply divided over whether the country needs foreign labour over the next few years, a Finnish News Agency (STT) poll revealed on Wednesday.

The Social Democrats and the National Coalition party told STT that foreign labour was needed during the next legislative period but added that the amount of workers to be admitted depended on economic cycles.

By contrast, the Christian Democrats, the Left Alliance and the True Finns said Finland did not need to draw in foreign workers during the next legislative term.

Out of the major parties, the Centre party, the Green League and the Swedish People's party adopted the most careful line by saying that the need for foreign labour hinged on the economic situation.

Under Finland's current Aliens Act jobcentres are under an obligation to look into the supply of labour within Finland before recruiting abroad.

UPM-Kymmene back in black in Q2
Helsinki, August 3 (STT)
Finnish paper maker UPM-Kymmene on Tuesday reported a second-quarter pretax profit of about 181 million euros, up from a year-ago loss of some 26 million.

April-to-June sales rose to about 2.22 billion euros from some 1.84 billion in the year-ago period.

The company said in a statement it expected its second-half operating profit excluding one-offs to be higher than that seen in the first half.

July confirmed as warmest on record in S Finland
Helsinki, August 2 (STT)
The Finnish Meteorological Institute (FMI) said Monday that last month had been the warmest on record in southern Finland.

The FMI added that the previous record, set in Lappeenranta in 1925 as 22.1 degrees Celsius, had been broken at 14 weather stations in southern and central Finland.

Puumala was the warmest town in July with an average temperature of 23.0C.

Last week, a weather station in Liperi near Joensuu logged 37.2C, the highest reading since records began.

Russia to lift export ban on Finnish dairy products
Helsinki, July 30 (STT)
The Finnish Food Safety Authority (Evira) said in a statement Friday that Russia would lift an export ban on Finnish dairy products on 6 August.

"It was agreed in the negotiations between the authorities that the collection of milk from Finnish farms will continue as before while certain laboratory tests will be adjusted to meet the requirements of Russian legislation," Evira added.

"With respect to meat and meat products, the Russian authorities will consider the situation on 16 August 2010 on the basis of additional inspections performed and clarifications submitted by Evira with the purpose of lifting the related export restrictions."

Russia's Federal Service for Veterinary and Phytosanitary Surveillance had imposed an export ban on 14 Finnish dairies and meat processing facilities earlier this month after carrying out inspections spanning 23 Finnish food companies in May.

Russia's export ban halts food shipments from Finland
Helsinki, July 23 (STT)
Russia's partial export ban on Finnish food entered into force on Friday, with a significant drop in cross-border food shipments.

Lasse Koskela of the Vaalimaa border station said no food lorries had even attempted to cross the border.

He added that on a normal day dozens of food lorries crossed at Vaalimaa into Russia.

The export ban affects 14 Finnish food processing facilities.

The Finnish Food Safety Authority (Evira) said it had no idea how long the export ban would last.

Earlier this week the Finnish and Russian presidents pledged to settle the issue within a fortnight.

Valio, a dairy group that has seen six of its facilities listed in the export ban, said the company could cope with an interruption in exports to Russia provided it lasted less than a month.

Wartsila boasts fat orderbook
Helsinki, July 21 (STT)
Finnish engineering group Wartsila reported a 42-per cent year-on-year jump in its second-quarter order intake, with the company's April-to-June pretax profit declining to about 109 million euros from some 141 million in the year-ago quarter.

Sales fell by 15 per cent year-on-year to about 1.13 billion euros.

Said in a statement Ole Johansson, the managing director of Wartsila: "The second quarter of 2010 was strong for Wartsila in terms of ordering activity and it confirms clear signs of improvement in our operating environment."

"The recovery in the global economy is reflected in the contracting activity of the shipping industry where activity has clearly picked up during this year."

Nokia Siemens to buy Motorola assets for EUR 900 mln
Helsinki, July 19 (STT)
Finnish-German joint venture Nokia Siemens Networks said in a statement Monday it would buy Motorola's network equipment business for some 1.2 billion US dollars, or 900 million euros, in cash.

"This is an exciting acquisition that I believe has significant benefits for customers, employees and our shareholders," Rajeev Suri, the managing director of NSN, said in a statement.

Nokia Siemens Networks will see the benefits of a deal that is expected to enhance profitability and cashflow and to have significant upside potential."

The statement added that the companies expected to close the transaction by the end of the year, with about 7,500 Motorola workers transferring to Nokia Siemens.

Unconfirmed reports of the transaction had begun to surface last week.

Russia's export ban on Finnish food not political -Vayrynen
Helsinki, July 15 (STT)
Paavo Vayrynen (centre), the Finnish aid and trade minister, said Thursday that Russia's decision to impose an export ban on a number of Finnish foodstuffs was not politically motivated.

Vayrynen described the move as a normal operation by the Russian authorities. He said the matter would not be raised at a political level but handled by the two countries' food safety officials instead.

Vayrynen was confident that the matter would be cleared up before the scheduled start of the export ban Friday next week.

The Russian authorities made an announcement about the ban on Wednesday but began turning back Finnish food shipments on Monday. Russia then put the export ban on hold until next week.

Nokia Siemens in talks to buy Motorola telecoms arm -WSJ
Helsinki, July 14 (STT)
Finnish-German joint venture Nokia Siemens Networks is engaged in talks to buy Motorola's telecommunications equipment arm, the Wall Street Journal reported on Tuesday.

The paper quoted unnamed sources as saying that the deal could be worth up to 1.3 billion US dollars, or about one billion euros, with the two companies discussing terms.

Neither company commented on the report.

Motorola has been preparing to split into two companies.

Barroso praises Finland during Kiviniemi's first Brussels trip
Helsinki, July 7 (STT)
Jose Barroso, the head of the European commission, lavished praise on Finnish EU policy in general and the country's commitment to fiscal discipline as Mari Kiviniemi (centre) visited Brussels for the first time as Finland's prime minister on Friday.

Speaking at a joint news conference with Kiviniemi, Barroso said Finland had always been at the forefront of EU integration.

Kiviniemi called for automatic sanctions for all countries found in breach of eurozone rules.

The prime minister went on to pledge that Finland would reduce its 4.1-per cent budget deficit to 1.3 per cent of gross domestic product next year.

Finland exceeded the EU stability and growth pact's three-per cent deficit limit for the first time this year.

Barroso refused to comment on the Finnish Parliament's approval of two nuclear power station permits.

First-half car sales up 20 pct yr/yr
Helsinki, July 7 (STT)
Finnish showrooms shifted about 62,400 cars in the year through the end of June, up by about 20 per cent year-on-year, the Finnish Information Centre of the Automobile Sector said in a statement on Friday.

June's new car registration figure jumped by about 55 per cent year-on-year to some 12,200 vehicles.

Showrooms have targeted sales of about 108,000 new passenger cars this year.

Katainen favourite as next prime minister -Ilta-Sanomat poll
Helsinki, June 21 (STT)
Jyrki Katainen, chairman of the National Coalition, is currently the favourite candidate to be Finland's next prime minister after the general elections in April, according to a poll published by tabloid Ilta-Sanomat on Monday.

The survey asked which of chairmen of the three largest parties would be the most suitable to lead Finland after the parliamentary elections. In addition to Katainen the other alternatives were Mari Kiviniemi (centre) and Jutta Urpilainen (sdp).

Katainen was the preference of 38 per cent of respondents, while 22 per cent would choose Kiviniemi and 10 per cent favoured Urpilainen.

Nokia lowers outlook for Devices & Services
Helsinki, June 16 (STT)
Finnish mobile phone maker Nokia on Wednesday lowered its outlook for the net sales and result in Devices & Services, sending its stock sliding in the Helsinki stock exchange.

According to Nokia the competitive environment at the high-end of the market and a shift in the product mix towards lower gross margin products were negatively impacting the company's business to a greater measure than expected

Sampo Bank increases Finnish GDP growth forecast to 1.8 pct
Helsinki, June 15 (STT)
Danske Bank's Finnish subsidiary Sampo Bank on Tuesday raised its forecast for Finland's 2010 gross domestic product (GDP) growth to 1.8 per cent from the previous 1.5 per cent forecast in March.

Sampo added that its forecast for next year's GDP growth is to remain at 2.5 per cent.

According to Sampo Bank the second-quarter production growth and the improved employment situation prompted the more optimistic outlook.

Finnish government to ease citizenship requirements
Helsinki, June 10 (STT)
The Finnish government proposed Thursday to shorten the minimum residence period required for naturalisation to five years.

Currently non-citizens are required to have lived in Finland for at least six consecutive years before becoming eligible to apply for citizenship.

According to the proposal, good command of either the Finnish or Swedish languages would further reduce the minimum residency requirement to four years.

Finnair's growth takes off again after volcanic disruption
Helsinki, June 8 (STT)
Finnish flag carrier Finnair said Tuesday that despite the disruption in April caused by the Icelandic volcanic ash cloud, the strong growth that began in March has continued in May.

Scheduled traffic rose by 16 per cent in May compared to the year-ago period. Scheduled flights to Asia did particularly well, growing by 28 per cent year-on-year. Growth was also experienced in cargo traffic, which increased by 30 per cent in May.

"It's excellent that demand returned after the problems of April. Scheduled traffic demand and the passenger load factor are again moving in the right direction, but aircraft still have room for additional demand," Christer Haglund, senior vice president of communications at Finnair, continued.

Finland's economic outlook unusually uncertain -IMF
Helsinki, June 8 (STT)
Finland's economic outlook is still unusually uncertain, according to the concluding statement released on Monday by the International Monetary Fund's (IMF) Mission currently visiting Finland.

IMF's visiting experts estimated Finland's economic growth to be only around 1.3 per cent this year and to rise to around 2 per cent in 2011.

The statement recommended a measured structural adjustment of 0.5 to 0.8 per cent of GDP next year to reduce deficit while not jeopardising recovery. IMF also underlined the importance of reforming pensions systems, healthcare, care for the elderly as well as municipal finances.

Finnish May car sales up 14 pct yr/yr
Helsinki, June 1 (STT)
Finnish car sales have risen significantly at the beginning of the year, with new passenger car registrations up by around 14 per cent year-on-year, according to a statement by the Finnish Information Centre of the Automobile Sector on Tuesday.

Car sales increased by close to 50 per cent in May, and even used car sales did well during the month, the statement continued.

The favourite car model in May was the Skoda Octavia, which comes a close second to the Volkswagen Golf in results for the whole year.

Profits down 54 pct for Finnish companies in 2009 -Talouselämä
Helsinki, May 28 (STT)
On Friday the Finnish business weekly Talouselama reported that profits for Finland's 500 largest companies fell by over half last year.

However, the companies have survived the difficult economic situation better than during the 1990s depression as their combined profits remained well on the positive side.

According to Talouselama the combined turnover of the 500 largest companies fell by 12 per cent to 315 billion euros, while their combined profit fell by 54 per cent to 5.4 billion euros.

The biggest profit was made by Finnish utility Fortum, while biggest losses were made by Finnish paper maker Stora Enso.

The study also concluded that investments by the big companies have fallen by over one fifth to 14.7 million euros.

Finnish industrial confidence improves significantly
Helsinki, May 27 (STT)
Finland's industrial confidence indicator has clearly improved in May, according to a statement by the Confederation of Finnish Industries (EK) on Thursday.

According to EK, the confidence indicator climbed to +8, significantly above the long-term average of +3.

Although confidence in service industries remains somewhat low, even construction and retail confidence have improved.

Greenpeace ranks Nokia greenest electronics maker
Helsinki, May 26 (STT)
Finnish mobile phone maker Nokia continues to rank as the greenest electronics maker amongst the world's leading manufacturers, according to Greenpeace on Wednesday.

Nokia was applauded for instance for giving up dangerous chemicals, energy efficiency as well as targets for emissions cuts. However, according to Greenpeace, there is still room for improvements, particularly in recycling.

The Greenpeace results are reported quarterly and rank 18 leading electronics manufacturers.

Finland's Vanhanen to hand in resignation on 18 June
Helsinki, May 26 (STT)
Matti Vanhanen (centre), Finland's prime minister, is to hand in his resignation as prime minister on 18 June, Vanhanen said at a lunch event for political reporters.

Vanhanen's replacement will have been decided on the previous Saturday, 12 June, at the Centre's party conference.

Finnish food industry unions reach last minute agreement
Helsinki, May 25 (STT)
The food industry strike threatening to start at midnight Monday was averted literally at the eleventh hour when both employees' and employers' unions accepted the mediation proposal submitted by Esa Lonka, Finland's national conciliator.

Heikki Juutinen, director of the employers' representative, the Finnish Food and Drink Industries' Federation (ETL), said that the new labour agreement would allow for more flexibility in working hours, which would guarantee fresh food in shops on every day of the week.

While the employers' representatives had also been prepared to accept the three previous mediation proposals rejected by the employees, the Finnish Food Workers' Union (SEL) only barely approved the final proposal by 17 votes to 16.

The new food industry labour agreement is to remain in force until the end of March 2014.

A comprehensive food industry strike would have affected shop selections considerably more than the limited strikes in April and earlier in May.

Finland's highest building to rise in Espoo
Helsinki, May 18 (STT)
Finland's highest office building is to be built in the Helsinki metropolitan region, builder Hartela Group confirmed on Tuesday.

Construction of the 26 story, 111 metre high building has not been started yet in Keilaniemi, Espoo, but the offices are already being put on the market.

"The timetable for the entire project depends on whether it will be carried out in stages or in one go. Construction of the Keilaniemi Tower is expected to take around three years at the very least," Kimmo Aspholm, vice executive of Hartela, said Tuesday.

Finnish utility Fortum's head office is currently Finland's highest office building at 84 metres. However, there are other higher structures in Finland, such as the Nasinneula tower in Tampere, which measures 168 metres.

Finnish Parliament passes Greek bailout loan after stormy debate
Helsinki, May 14 (STT)
Finland's Parliament on Wednesday evening voted to approve the 1.6 billion euro supplementary budget necessary for Finland's contribution to the EU-IMF rescue loans for Greece.

The government's proposal was passed with 108 votes to 63 after a heated and lengthy debate during which opposition MPs questioned Greece's ability to repay.

Only the government parties voted for the proposal, with one Centre Party MP breaking ranks to vote against it.

Jyrki Katainen (cons), Finland's finance minister, fiercely attacked the opposition's Social Democratic Party for opposing the loan package, claiming that the SDP's demands would have required negotiating a new deal and having it ratified in all eurozone Parliaments. "Every smart Finn will understand that you cannot make head or tail out of such a demand," Mr Katainen said.

The finance minister added that failure to approve the bailout package would lead to a recession in Europe and unemployment in Finland.

Blaming banks for Greek crisis is pointless -Finland's PM
Helsinki, May 12 (STT)
Matti Vanhanen (centre), Finland's prime minister, told the Finnish Parliament on Wednesday that it is pointless to make banks the scapegoat for the Greek crisis.

The cause of the crisis is government overspending, Mr Vanhanen continued, and therefore the blame cannot be placed on the banks and financial institutions.

The prime minister added that the difficult financial situation in Greece has been known for a long time but due to a lack of options, no action was taken earlier.

Finland's Parliament is to vote on the supplementary budget required for the Greek bailout package in its plenary session later on Wednesday.

Industry output up 1.7 pct yr/yr in March -Statistics Finland
Helsinki, May 10 (STT)
Finnish industry output rose by 1.7 per cent in March from the year-ago period, Statistics Finland said in a statement Monday.

The growth was most rapid in the forest industry which reached an increase of over 8 per cent in production.

Metal industry production grew for the first time in nearly a year and a half whereas the electrical and electronic industry faced a decrease in output from the previous year.

Finnish FM Katainen lauds eurozone stability package
Helsinki, May 10 (STT)
Jyrki Katainen (cons), Finland's finance minister, said Monday that he was confident the euro stability package agreed on by eurozone finance ministers in Brussels would calm markets.

"With these arrangements a market in turmoil can be brought to its senses and the damages minimised," Mr Katainen said at a news conference early on Monday after Sunday night's marathon meeting.

According Mr Katainen, Finland's share of the 440 billion euro loan guarantees agreed on by the eurozone countries would be 8.14 billion.

However, the finance minister added that the likelihood of the crisis loans ever being needed was exceedingly small and compared it to Finnish 50 billion euro guarantees to its banks in 2008, which were never cashed in.

Finnish food industry strike begins
Helsinki, May 5 (STT)
The Finnish Food Worker's Union (SEL) on Tuesday evening rejected a conciliation proposal in their labour dispute with the employers' union, the Finnish Food and Drink Industries' Federation (ETL), and went on strike the same night.

The strike is broader than the two recent food industry strikes and has closed over 80 large food production facilities across the country.

According to SEL its workers are to remain on strike for six days. However, the employers' and employees' unions are to meet at noon Wednesday to discuss practical matters related to the scope of the strike.

Finland's technology industry still in bad shape
Helsinki, April 27 (STT)
The Federation of Finnish Technology Industries said in an outlook on Tuesday that the budding recovery of new order intakes by the federation's member companies had levelled off and was at only half the level of the autumn of 2008.

According to the federation, technology companies' order intake was down 18 per cent in the first quarter compared to the year-ago period.

Finnish food industry lockout to end early
Helsinki, April 27 (STT)
Employees belonging to the Finnish Food Workers' Union (SEL) are to return to work at 10 pm Tuesday, after they reached an agreement with the Finnish Food and Drink Industries' Federation (ETL) Tuesday afternoon.

ETL said Monday night that it would end its two-day lockout already after one day, on Tuesday. However, talks had to be held with the employees' union on the terms of going back to work, Jenni Korkeaoja, spokesperson for SEL, told the Finnish News Agency (STT) earlier on Tuesday.

Negotiations for reaching a labour agreement for the industry are to continue on Sunday. SEL has threatened to start a five-day strike on Wednesday next week as well as a new strike on 11 May that would continue until an agreement is reached.

Finnish food industry talks fail, lockout and strike ahead
Helsinki, April 26 (STT)
The Finnish Food Workers' Union (SEL) on Monday rejected a settlement proposal in its labour agreement talks, meaning that food industry lockouts were expected to begin at 6 pm on Monday.

The lockout declared by the Finnish Food and Drink Industries' Federation (ETL) is scheduled to last two days, and is to affect 235 places of business.

Food workers are threatening to go on a five-day strike starting on 5 May. This strike is expected to affect 83 production units and almost 12,000 workers.

The food industry labour disputes have already stopped food production twice during April. The coming lockout and strike are expected to be have an even greater impact on shop selections.

Nokia Q1 pretax profit up at EUR 411 mln
Helsinki, April 24 (STT)
Finnish mobile phone maker Nokia on Thursday reported a first-quarter pretax profit of 411 million euros, up significantly from a 12 million euro loss in the year-ago period, but not enough to keep its stock from plummeting in the Helsinki stock exchange immediately after the publication of the figures.

The company sold 21.5 million smartphones and mobile computers, an increase of 57 per cent year-on-year. Nokia's preliminary estimate of its share of the mobile device market was 33 per cent, up from an estimated 32 per cent in the first quarter of 2009.

First quarter net sales stood at 9.5 billion, up from 9.3 billion in the January-March period last year.

"We continue to face tough competition with respect to the high end of our mobile device portfolio, as well as challenging market conditions on the infrastructure side," Nokia's chief executive, Olli-Pekka Kallasvuo, said in the interim report.

All Finnish airports open on Friday -Finavia
Helsinki, April 23 (STT)
All air space restrictions have been removed in Finland and all airports across the country have been allowed to open, Finnish aviation authority Finavia said in a statement Friday morning.

According to Finavia no new flight restrictions are to be expected, based on the latest forecast on volcanic ash cloud movements on Friday morning.

Finnish flag carrier Finnair said that some of Friday's domestic and Scandinavian flights would have to be cancelled, but the airline expected to resume its regular timetables over the weekend.

Scandinavian airlines subsidiary Blue1 also said it would resume normal flight schedules over the weekend apart from a few exceptions.

Nokia Q1 pretax profit up at EUR 411 mln
Helsinki, April 22 (STT)
Finnish mobile phone maker Nokia on Thursday reported a first-quarter pretax profit of 411 million euros, up significantly from a 12 million euro loss in the year-ago period, but not enough to keep its stock from plummeting in the Helsinki stock exchange immediately after the publication of the figures.

The company sold 21.5 million smartphones and mobile computers, an increase of 57 per cent year-on-year. Nokia's preliminary estimate of its share of the mobile device market was 33 per cent, up from an estimated 32 per cent in the first quarter of 2009.

First quarter net sales stood at 9.5 billion, up from 9.3 billion in the January-March period last year.

"We continue to face tough competition with respect to the high end of our mobile device portfolio, as well as challenging market conditions on the infrastructure side," Nokia's chief executive, Olli-Pekka Kallasvuo, said in the interim report.

Finnish government proposes nuclear permits for TVO and Fennovoima
Helsinki, April 22 (STT)
Finland's centre-right government coalition made a preliminary decision on Wednesday to propose to Parliament the approval of two permits for additional nuclear building.

At its evening session on Wednesday, the government proposed approving the nuclear power plant applications submitted by Finnish utilities Teollisuuden Voima (TVO) and Fennovoima.

Of the government parties the Greens opposed the decision, which means the cabinet will have to hold a formal vote in the coming weeks, before submitting the matter to Parliament.

Helsinki airport to open from 3 pm to 9 pm Thursday
Helsinki, April 22 (STT)
Helsinki airport is to be open between 3 pm and 9 pm on Thursday, Finnish aviation authority Finavia said in a statement Thursday.

The airports of Lappeenranta, Mariehamn, Savonlinna and Turku are also to be reopened on Thursday afternoon.

According to Reijo Tasanen, the head of Finavia's airport operations, passengers booked on flights for the afternoon should make their way to their airports as it is likely that weather conditions will allow planes to fly.

The longhaul flights currently returning to Finland are expected to land at alternative airports if the air conditions change before they reach their destination.

Finnish airports remained closed on Thursday morning due to a cloud of volcanic ash from Iceland.

Finnish government prepares for weeks of flight misery
Helsinki, April 19 (STT)
Finland's government is preparing for weeks of disruptions in air traffic but is confident that no threats to the citizens' safety are on the horizon, Matti Vanhanen (centre), Finland's prime minister, said at a news conference in Helsinki on Monday.

The prime minister assured reporters that for example medicines would not run out. "We have good existing reserve supplies so this is not a threat," Mr Vanhanen said.

Finland's National Emergency Supply Agency is investigating what would happen if the cloud of volcanic ash from Iceland remained above northern Europe for several weeks. However, nobody knows for how long the ash will cause problems, Mr Vanhanen added.

Ash cloud affects 100,000 Finnair passengers
Helsinki, April 19 (STT)
The volcanic eruption in Iceland that grounded air traffic in Europe has affected 100,000 passengers of Finnish flag carrier Finnair, the company said in a statement Monday.

Mika Vehvilainen, Finnair's managing director, promised that customers would not be left in trouble. However, Finnair was still unwilling to pay compensations for passengers who have suffered from flight cancellations.

According to Mr Vehvilainen, the ash cloud is causing two million euros in daily losses for Finnair, but the company would be able to sustain this.

Two Finnish airports to open briefly on Monday -Finavia
Helsinki, April 19 (STT)
Finnish aviation authority Finavia said early on Monday that it would temporarily open two airports in the south-western part of the country due to a gap in the volcanic ash cloud that grounded flights in Europe over the weekend.

The decision to open the Turku and Tampere airports for air traffic between 12 pm and 6 pm on Monday was reached at a midnight meeting on Sunday after the Finnish Meteorological Institute's forecast and tests by the Finnish Air Force indicated that it would be safe to fly.

According to Finavia around 5-10 flights would be able to arrive at both airports.

Helsinki airport, Finland's largest, and other airports across the country are to remain closed for now, Finavia added.

Finland's airspace has been closed since Thursday due to clouds of ash originating from a volcanic eruption in Iceland.

Security guard strike to slow down Finnish airports on Friday
Helsinki, April 13 (STT)
Finland's Civil Aviation Administration (Finavia) said in a statement Tuesday that Friday's security guard strike may cause considerable delays at Finnish airports.

The security workers at Finnish airports are going on strike in support of the Service Union United's (PAM) security company workers. The strike is scheduled to start at 6 am on Friday and last 24 hours.

According to Finavia, the strike is expected to cause the greatest delays at the Helsinki Airport.

On Monday PAM rejected a mediation proposal put forwards by Esa Lonka, the national conciliator. The disagreement between the Federation for Finnish Commerce and PAM relates mainly to this year's wage increases.

Finland's Stockmann eyed by British chain -The Independent
Helsinki, April 12 (STT)
The Independent reported Sunday that Britain's Debenhams is thinking about buying fellow retailer Stockmann, a Finnish department chain.

"Stockmann is a good acquisition target. Basically it's the Finnish Debenhams. It's a good time to get there, before their stock price shoots up." James Munro, analyst at Standard & Poor's, told the British daily.

Pekka Vahahyyppa, Stockmann's executive vice president, told the Finnish Broadcasting Company's (YLE) news on Sunday that Stockmann was not aware of these plans.

"Usually we do not comment on market rumours, but this is such a funny one that I must say something. We have no knowledge of this," Mr Vahahyyppa added.

Finland slips to EUR 40 mln trade deficit in February
Helsinki, April 9 (STT)
Finland ran a 40-million-euro trade deficit in February, compared to a surplus of 20 million euros in the year-ago period, according to preliminary data released by the National Board of Customs on Friday.

February's exports fell by around 3 per cent year-on-year to slightly under 3.5 billion euros, while imports dropped by 2 per to just over 3.5 billion euros.

Finnish forestry industry slowly recovering from recession -PTT
Helsinki, April 8 (STT)
Finland's forestry industry is to pick up this year, according to a report released Thursday by Pellervo Economic Research (PTT), a Finnish thinktank funded by farmers' lobbies.

According to PTT's forecast, the forestry industry is expected to increase production and exports as demand speeds up internationally. However, growth is currently still rather slow.

Finnish Food Workers' Union to start three-day strike
Helsinki, April 6 (STT)
The Finnish Food Workers' Union (SEL) on Tuesday evening rejected a last minute proposal by Esa Lonka, the national conciliator, to settle the industry's labour dispute. A food industry strike is to start at midnight Tuesday.

The three-day strike is to shut down twelve large meat processing and baking industry production facilities. Around 4,500 employees are to participate in the strike, the effects of which are to be felt in supermarket bread and convenience food sections.

SEL also submitted a strike warning for another three-day strike starting on 21 April.

Finnish food industry pay talks break down, strikes begin
Helsinki, April 1 (STT)
Workers at four dairies staged a one-day strike in Finland on Thursday after pay and conditions talks between the Food Workers' Union (SEL) and the Food and Drink Industries Federation (ETL) broke down.

The union has scheduled a further three-day strike across 12 large food companies to begin next Wednesday, with a separate union representing managerial workers in the food industry expected to mount another three-day strike from 12 April.

Both strikes will hit the dairy and meat-processing industries hardest.

A pay and conditions agreement covering some 35,000 food industry workers expired on Wednesday.

Finnish finance ministry raises 2010 GDP growth forecast
Helsinki, March 29 (STT)
Finland's finance ministry on Tuesday raised its Finnish gross domestic product (GDP) growth forecast for this year to 1.1 per cent from 0.3 per cent featured in an economic survey made public in September last year.

The ministry added it saw the country's economy growing by 2.1 per cent next year and by more than three per cent in 2012.

Last week, the Bank of Finland raised its 2010 and 2011 GDP growth forecasts to 1.6 and 1.8 per cent, respectively.

The finance ministry's latest economic survey warned that the country's jobless rate was expected to climb to 10.2 per cent this year despite the rising output trend.

"The highest monthly unemployment rates will probably be recorded late in the spring," the ministry said in a statement.

"The situation will improve in 2011 when the employment rate is expected to edge up to 67 per cent and the unemployment rate to fall back to 9.6 per cent."

Outokumpu plans doubling Tornio ferrochrome production
Helsinki, March 29 (STT)
Finnish steelmaker Outokumpu said in a statement it was planning doubling the ferrochrome production capacity of its Tornio works in northern Finland, adding it would take a decision based on a feasibility study by the end of the year.

"If realised the investment would add about 100 permanent jobs in ferrochrome works in Tornio and in Kemi mine," the statement added.

Outokumpu shelved a 420-million-euro ferrochrome investment project in Tornio in December 2008, citing the financial crisis and an insecure market.

"The market price of ferrochrome has started to recover since the autumn 2009 and is generally expected to continue increasing mainly due to production constraints of electricity in the main ferrochrome producing country, South Africa."

Juha Rantanen, the managing director of Outokumpu, linked the company's investment decision to Finland's nuclear power policy. "The Finnish government is expected to make a decision on nuclear power projects this spring, and the decision will be taken into account as one of the factors having an impact on the ferrochrome investment," he said in the statement.

Konecranes and Kito Corporation enter into strategic alliance
Helsinki, March 23 (Konecranes)
Konecranes and the Japanese hoist, crane and material handling equipment company Kito Corporation (“Kito”) have entered into a strategic alliance. The alliance agreement was signed by representatives of the two companies today on March 23, 2010. To reinforce the alliance, Konecranes has entered into an agreement to purchase 22% of the share capital in Kito from the international private equity firm The Carlyle Group. To fully utilize the global market potential and mutually complement each other, Konecranes will enter into an agreement to sell Kito manual products while Kito will sell wire rope hoists made by Konecranes. Moreover, the parties will jointly examine the possibilities to co-operate in distribution and license manufacturing of other products as well as in procurement. In addition, Konecranes and Kito intend to transfer the hoist distribution business of Konecranes’ Japanese joint venture MHS Konecranes Co. Ltd (“MHS Konecranes”) to Kito to create a strong player in the Japanese hoist market. Both companies will retain their own identity and independence under this alliance based on mutual trust and equal partnership.

Finland's Etla sees rapid GDP growth in 2011-2
Helsinki, March 24 (STT)
The Research Institute of the Finnish Economy (Etla) on Wednesday kept its Finnish 2010 gross domestic product (GDP) growth forecast unchanged at 1.5 per cent but added that it saw an acceleration to four per cent in 2011.

Etla went on to forecast 3.5-per cent GDP growth in 2012.

By contrast, the Finnish government and central bank said in revised outlooks made public Tuesday that they expected the country's economy to grow by just over two per cent and 1.8 per cent, respectively, next year.

Bank of Finland raises 2010 GDP growth forecast to 1.6 pct
Helsinki, March 23 (STT)
The Bank of Finland on Tuesday raised its Finnish 2010 gross domestic product (GDP) growth forecast to 1.6 per cent but added that recovery from the recession would be sluggish.

The central bank had predicted nil growth this year in a forecast issued in September last year.

"Monetary and fiscal policies have been exceptionally supportive of economic growth and the financial markets," Erkki Liikanen, the governor of the Bank of Finland, said in the latest forecast.

"Finland's real GDP has stopped contracting. GDP growth will, however, be much slower in the immediate years ahead than it was before the financial crisis."

"Real GDP will not reach the level of 2008 even by the end of the forecast period in 2012."

The Bank of Finland sees the country's economy growing by 1.8 per cent next year and by 2.2 per cent in 2012.

Finnish transport union to approve settlement proposal -YLE
Helsinki, March 19 (STT)
The Finnish Broadcasting Company (YLE) on Friday quoted the Transport Workers' Union as saying on Friday it was about to approve a settlement proposal drafted by Esa Lonka, the government's labour market conciliator.

AKT dockers had been on strike since 4 March.

Mr Lonka handed the proposal early on Friday after 17 hours of talks between the AKT and the Port Operators' Association.

Mr Lonka expects the two sides to respond by 1pm.

The conciliator did not make the contents of his proposal public.

EK and SAK bosses join talks to end Finnish dockers' strike
Helsinki, March 17 (STT)
The Confederation of Finnish Industries (EK) and the Central Organisation of Trade Unions (SAK) signalled Tuesday that they would join talks to end a nationwide stevedore strike that began on 4 March.

The expanded talks were to begin at midday Wednesday.

Tuesday's negotiations between the Transport Workers' Union and the port operators ended without a deal at 8pm.

The biggest sticking point between is severance pay.

Finnish dockers' strike shuts down 60 pct of paper mills
Helsinki, March 15 (STT)
The Finnish Forest Industries Federation said Monday that the stevedores' strike had shut down almost 60 per cent of the country's paper mills, with more than 3,700 workers sent home.

Timo Jaatinen, the managing director of the wood-processing industry lobby, said the Transport Workers' Union (AKT) was putting jobs at risk.

The federation added that the dockers' strike was slowing down the country's recovery from the recession.

Talks between the AKT and the Port Operators' Association to end the strike broke down on Friday.

The strike began on 4 March.

The two sides are to resume talks on Tuesday, with severance pay as the key sticking point.

Nokia cuts 2009 market share estimate to 34 pct
Helsinki, March 12 (STT)
Finnish mobile phone maker Nokia on Friday cut its 2009 handset market share estimate by four points to 34 per cent.

"Beginning in 2010, Nokia is revising its definition of the industry mobile device market that it uses to estimate industry volumes," Nokia said in a statement.

"This is due to improved measurement processes and tools that enable Nokia to have better visibility to estimate the number of mobile devices sold by certain new entrants in the global mobile device market."

"These include vendors of legitimate, as well as unlicensed and counterfeit, products with manufacturing facilities primarily centred around certain locations in Asia and other emerging markets."

Kone tycoon Herlin becomes first Finn on Forbes billionaire list
Helsinki, March 11 (STT)
US business magazine Forbes on Thursday included Antti Herlin, the main owner of Finnish lift and escalator maker Kone, on its list of US dollar billionaires.

Mr Herlin is the first Finn to be featured on the Forbes list.

Forbes estimated Mr Herlin's net worth at about 1.3 billion US dollars, earning him 773rd place along with 54 other well-heeled people.

Carlos Slim Helu, a Mexican telecommunications tycoon, topped the Forbes list with a fortune of some 53.5 billion dollars.

Hakamies ranks nuclear power as Finnish government's top priority
Helsinki, March 8 (STT)
Jyri Hakamies (cons), the Finnish defence minister, told the Finnish Broadcasting Company (YLE) on Saturday that the construction of new nuclear power generating capacity was the most important single issue facing the government.

Speaking days before the government was to debate the nuclear power issue, Mr Hakamies went on to defend his party's line to grant approval to all three utilities planning building nuclear power stations in Finland.

By contrast, the Centre party has argued for a single permit.

"It is very difficult to compromise on this line as the National Coalition party has consistently and firmly supported three permits," Mr Hakamies told the public broadcaster.

"It is an extremely big issue for us."

He added that Finland could not afford to reject a single nuclear power station permit application if the country wanted to respect its carbon dioxide emissions reduction obligations.

Finnish dockers and ports to resume talks Tuesday
Helsinki, March 8 (STT)
The office of Esa Lonka, the Finnish government's labour market conciliator, said late on Sunday that talks between the Transport Workers' Union (AKT) and the port operators to end a stevedore strike would resume on Tuesday.

The key sticking point is job security, with the Port Operators' Association saying the AKT has demanded 12 months' severance pay.

The union says its aim is a system to improve the re-employmentchances of workers made redundant.

About 3,000 dockers went on strike Thursday last week, crippling the country's foreign trade.

Finnish PM warns stevedore strike has dire consequences
Helsinki, March 4 (STT)
Matti Vanhanen (centre), Finland's prime minister, said Thursday he feared that a nationwide stevedore strike might last long given the gulf between the Transport Workers' Union (AKT) and the port operators.

The strike began early on Thursday after last-ditch arbitration talks failed late on Wednesday.

Mr Vanhanen issued an appeal to both sides to settle their row and warned of dire consequences of a protracted strike. "This is a serious situation," he added. "There is no question that if this became protracted society would gradually come to a standstill."

Mr Vanhanen refused to be drawn when asked to rate the union's actions.

"This is a legal strike, but a solution must be found for this sort of thing. The losses suffered by the nation's wellbeing each day are certainly unnecessary."

The strike is expected to stop about 80 per cent of the country's foreign trade.

Finnish road transport strike ends
Helsinki, March 3 (STT)
The Finnish Transport Workers' Union and the Employers' Federation of Road Transport (ALT) approved a settlement proposal on Wednesday, ending a bus, coach and lorry drivers' strike that began Tuesday evening.

The strike left much of the country's public transport and road haulage crippled. An estimated two-thirds of coaches have been cancelled, with bus services severely affected as well.

Having accepted the proposal put forward by Esa Lonka, the government's labour market conciliator, both sides said services would begin to be restored on Thursday.

The union said it was unhappy with the rises included in the deal, with the employers saying the new pay and conditions agreement carried a hefty pricetag.

Finnish Railways cancels further trains
Helsinki, February 24 (STT)
Finnish Railways (VR) announced further cancellations on Wednesday, saying it would continue to run reduced commuter train services until at least Friday.

Wednesday saw another day of reduced commuter services and 15 long-distance train cancellations along with the usual delays.

The government-owned rolling stock operator continued to blame the winter for the troubles.

VR urged passengers to check timetable changes online at www.vr.fi, at stations or by phoning 0600 41 900, a premium-rate number.

Finnish January jobless rate up at 9.1 pct
Helsinki, February 23 (STT)
Finland's adjusted unemployment rate rose to 9.1 per cent in January from 6.6 per cent in the year-ago period, Statistics Finland (SF) said in a statement Tuesday.

The agency added that the jobless rate in the 15-to-24 age cohort had jumped by 7.1 percentage points year-on-year to 22.7 per cent.

Finnish estate agents raise bubble alarm
Helsinki, February 17 (STT)
Two large Finnish estate agencies said Wednesday that a shortage of housing in towns experiencing rising populations was threatening to create a housing bubble.

Huoneistokeskus said a 20-per cent projected increase in detached house construction this year was a sign of a undersupply.

Risto Kyhala of Realia Group said there was "a clear disturbance" on the housing market, with demand seen outstripping supply at least until next year.

Huoneistokeskus added that even young buyers were considering buying because of relatively high rents.

Finnair says mulls Asia cargo flights
Helsinki, February 12 (STT)
Finnish flag carrier Finnair said in a statement Friday it was looking into launching cargo flights between Asian destinations and its Helsinki-Vantaa hub using its own and leased aircraft.

It added it was planning starting the flights later this year.

"Growing cargo demand in the Asian market offers an opportunity to increase capacity between Asia and Europe," Antero Lahtinen, head of Finnair's cargo arm, said in the statement.

"Traffic will be directed mainly from Asia to northern Europe, which is our domestic market area."

Finnair added that cargo demand on Asian routes had grown by 40 per cent year-on-year in January. Finnish December industry output drops 6 pct yr/yr
Helsinki, February 9 (STT)
Finland's adjusted industrial output fell by about six per cent year-on-year in December, Statistics Finland (SF) said in a statement Wednesday. The agency added that seasonally adjusted output had risen by 0.9 per cent month-on-month.

In 2009 as a whole output fell by 21 per cent.

"The drop was the worst since Finland became an independent state," the SF statement added.

Finland's trade deficit up at EUR 50 mln in December
Helsinki, February 9 (STT)
Finland ran a 50-million-euro trade deficit in December, up from 29 million in the year-ago period, the National Board of Customs said in a statement on Tuesday.

Exports fell by about 16 per cent year-on-year to about 3.55 billion euros, with imports declining by about 15 per cent to some 3.60 billion.

Finance Minister Katainen would swap PM in June
Helsinki, February 9 (STT)
Jyrki Katainen, the Finnish finance minister and Conservative party leader, was quoted as saying by regional daily Turun Sanomat on Tuesday that Matti Vanhanen should step down as prime minister after June's Centre party conference.

Mr Vanhanen announced in December last year he would not stand for re-election as party leader at the Lahti conference but left the question of prime ministership open.

Mr Katainen was quoted as saying that Mr Vanhanen's successor as party leader should take over as prime minister as well.

He went on to reject a proposal by Sauli Niinisto (cons), the speaker of Parliament, to broaden the coalition before next year's general election.

"There should be some sort of grounds for it," Mr Katainen was quoted as saying by Turun Sanomat.

"I disagree with him over [his suggestion] that this government is stopping economic adjustment from taking place."

Mr Niinisto had told the Finnish Broadcasting Company (YLE) that Finland should follow Germany's example and welcome the Social Democrats into the government.

"I consider it queer. It would mean that we would have no functioning opposition. In Germany, the brunt of the public's antipathy was directed at the fact that the grand coalition would carry on."

Finnish GDP contracts by 7.4 pct yr/yr in November -SF
Helsinki, February 5 (STT)
Finland's gross domestic product (GDP) contracted by 7.4 per cent year-on-year in November last year, having shrank at a revised rate of 8.6 per cent in October, Statistics Finland said in a statement Friday.

The agency added that seasonally adjusted GDP had fallen by 1.2 per cent month-on-month in November.

Finnish transport union issues port strike notice
Helsinki, February 2 (STT)
The Finnish Transport Workers' Union (AKT) on Monday handed a strike notice to all ports in the country.

The union said the strike was set to begin on 19 February.

The AKT also announced that a stevedore overtime ban would begin on Tuesday.

Talks between the AKT and port operators on a pay and conditions agreement broke down at the weekend over a dispute involving the length of dismissal protection.

"Given that voluntary mediation under the leadership of the state conciliator failed to produce a result and that the negotiations broke down, the AKT handed an industrial action notice and declared an overtime ban," said Timo Raty, the chairman of the union.

"We hope that the negotiations are commenced under the leadership of the state conciliator as soon as possible."

Nokia Q4 pretax jumps to EUR 1.06 bln
Helsinki, January 28 (STT)
Finnish mobile phone maker Nokia on Thursday posted a final-quarter pretax profit of about 1.06 billion euros, up from some 476 million in the year-ago period, sending its share price to a steep rise.

The Espoo-based company's October-to-December sales fell to about 12 billion euros from some 12.6 billion in the same quarter in 2008, with earnings per share falling by a cent to 25 cents.

Nokia put its final-quarter mobile device market share at 39 per cent, up from an estimated 37 per cent in the year-ago quarter and 38 per cent in the penultimate quarter last year.

Olli-Pekka Kallasvuo, the managing director of Nokia, said in a statement he was pleased with the company's final-quarter figures.

Nokia's share price jumped by more than 10 per cent on the Helsinki stock exchange by 1.30pm.

Finnish Dec jobless rate up yr/yr at 9 pct
Helsinki, January 26 (STT)
Finland's adjusted unemployment rate rose to 9.0 per cent in December from 6.6 per cent in the year-ago period, Statistics Finland (SF) said in a statement Tuesday.

Month-on-month, the adjusted jobless rate remained unchanged.

Finnish Centre party in disarray after Lehtomaki bows out
Helsinki, January 18 (STT)
Paula Lehtomaki, the Finnish environment minister and a clear favourite in polls to lead the ruling Centre party, cast further doubt over the party's future on Saturday by telling the Finnish Broadcasting Company (YLE) she would not stand at the Lahti party conference in June.

Catching observers as well as old party hands Mauri Pekkarinen and Paavo Vayrynen by surprise, Ms Lehtomaki said she would not be able to carry out the duties of party leader and prime minister while raising two children aged two and four.

Mr Vanhanen announced last month she would step down as party leader at the Lahti conference. None of those considered potential candidates to replace him has stepped forward.

Aktia raises Finnish GDP forecast further
Helsinki, January 14 (STT)
Finnish bancassurer Aktia on Thursday raised its Finnish gross domestic product (GDP) growth forecast for this year to two per cent, having foreseen 1.3 per cent in September last year and 0.8 per cent in April.

Aktia said it expected the country's economy to grow by two per cent next year as well.

Aktia's economists added that the country's jobless rate would rise to about 10 per cent.

Finnair says takes EUR 12 mln hit from handling strike and weather
Helsinki, January 12 (STT)
Finnish flag carrier Finnair said in a statement Tuesday that last month's four-day ground handling strike at Helsinki-Vantaa airport and adverse weather had cost it about 12 million euros in losses.

"The disruptions have caused many problems for our customers, for which we are truly sorry," Lasse Heinonen, Finnair's deputy managing director, said in the statement.

Finnish October GDP down 10.4 pct yr/yr
Helsinki, January 8 (STT)
Finland's seasonally adjusted gross domestic product (GDP) fell by 10.4 per cent year-on-year and rose by 0.5 per cent month-on-month in October, Statistics Finland (SF) said in a preliminary data statement on Friday.

According to revised data the country's GDP fell by 12.4 per cent year-on-year in September.

Finnish job cuts double last year -SAK
Helsinki, January 7 (STT)
The number of job cuts more than doubled last year to about 20,000, having stood at some 9,500 in 2008, the Central Organisation of Finnish Trade Unions (SAK) quoted its study as indicating on Thursday.

The total number of people affected by cooperation procedure talks rose to about 195,000 from about 65,000 in 2008, the SAK added.

Penttila named head of Finnish Central Chamber of Commerce
Helsinki, January 5 (STT)
The Finnish Central Chamber of Commerce said in a statement Tuesday its board had named Risto Penttila director-general, effective May.

Kari Jalas is to retire as director-general of the Central Chamber of Commerce in September.

Mr Penttila has been a director at the Business and Policy Forum (Eva), a pro-business thinktank, since 2002, having been an MP in 1995-9 and worked for consulting company Oxford Analytica and the World Economic Forum, a corporate-funded thintank.

Train ploughs into hotel in central Helsinki
Helsinki, January 4 (STT)
A commuter train smashed through a buffer stop and slammed into a hotel at the central railway station in Helsinki Monday morning, rescuers said.

No one was on board the train when the accident happened.

Finnish Railways (VR) said no one had been hurt in the incident, adding services to and from the station would be suspended for at least half an hour.

Peak-hour trains were stopping short of the terminus to allow passengers to alight outside the platforms.