The Finnish Government has decided to introduce additional austerity measures worth roughly 400 million euros and invest in, for example, transport infrastructure projects.
The Government announced after wrapping up its framework session yesterday that it will cut development assistance funding by 25 million, municipal subsidies by 130 million, sickness allowances by 20 million and basic transport infrastructure management funding by 35 million euros.
The contentious migrant-exchange agreement between the European Union and Turkey is not perfect but better than no agreement at all, estimates Sauli Niinistö, the President of Finland.
“It has come under heavy criticism from the standpoint of human rights. Its implementation will be difficult. The flows of migrants will surely look for alternative routes, of which there are already signs in the Mediterranean,” he stated in his address to the National Defence Course Association on Tuesday.
Nordea has come under severe criticism following reports that it is implicated in a trove of documents leaked from Mossack Fonseca, a major law firm based in Panama, the so-called Panama Papers.
Timo Soini (PS), the Minister for Foreign Affairs, states on his blog that funnelling funds to a tax haven is a sign of moral decay and will gnaw away at the credibility of the financial services provider in protecting the interest of its mortgage customers.
- Category: Business
- Created on 05 April 2016
Per Thelin has resigned as the chief executive of Stockmann by mutual agreement with the board of directors.
Jukka Hienonen, the board chairman of the iconic department store operator, said in a press release yesterday that the board of directors has initiated a process to find a successor to Thelin and appointed Lauri Veijalainen, the chief financial officer at Stockmann, as an interim chief executive.
The Hospital District of Helsinki and Uusimaa (HUS) has confirmed that it has made contact with all of the 19 patients who may have been exposed to infectious diseases following an error at HUSLAB Kamppi in Helsinki on 30 March.
“All of the patients have now been invited to a follow-up examination and offered the possibility to receive a hepatitis B vaccination by today. [...] We will cover all of the costs incurred by the patients,” Piia Aarnisalo, the chief executive of HUSLAB, stated in a press release on 1 April.
An exhibition featuring photographs of the Four Seasons in Finland, taken by seven Finnish nature photographers, will be on display in the Tehran Metro during the month of April. The exhibition will be opened in Tajrish station of the Tehran Metro on 8 April 2016. The photographs included in the exhibition were taken by Hannu Hautala, Thomas Kastin, Ari-Matti Nikula, Lasse Niskala, Minttu Saarni, Juha Sahlgren and Pertti Salolainen.
The exhibition is realised in cooperation between the Embassy of Finland in Tehran and the Tehran Metro. The Foreign Affairs Committee of the Finnish Parliament will participate in the opening of the exhibition.
The rules and practices governing the labour markets of Finland are in need of a revamp, says Mika Maliranta, a research director at the Research Institute of the Finnish Economy (ETLA) and professor at the University of Jyväskylä.
“Several parts of the rules and practices of the labour market system of Finland should be fixed soon. The transfer tax should be revoked and replaced with real estate tax increases even sooner. This would, for example, increase the dynamism of the labour markets,” he comments in his contribution to the guest blog of Libera, an independent think tank based in Helsinki.
Pertti Haaparanta, a professor of economics at Aalto University, has questioned the reluctance of Finland to resort to fiscal stimulus to claw its way out of the economic slowdown.
“The approach to stimulus policy, be it national or co-ordinated within the eurozone, is schizophrenic in Finland. The necessity of stimulus is effectively acknowledged as Finland has given its backing to the fiscal stimulus pursued by the [European Central Bank],” he writes on the Academic Blog on Economics.
Alexander Stubb, the chairperson of the National Coalition Party, has come under criticism from the right-wing quarters of his party mainly due to their disillusionment with the so-called competitiveness pact, Erkka Railo, a senior research fellow at the Centre for Parliamentary Studies of the University of Turku, analyses in an interview with Uusi Suomi.
“Stubb has disappointed the right wing as a chairperson. [He] has made promises he hasn't been able to keep,” he says.
Flammable liquids were used to set and accelerate the fire that devoured an 18th-century wooden church in Ylivieska, Northern Ostrobothnia, on 26 March, Ari Rutanen, the detective chief inspector in charge of the pre-trial investigation, reveals in a press release.
He adds that the perpetrator is likely to have broken into the church because the fire started from inside the church after the doors of the church had been locked.
Finland is the worst country in the European Union to eat, drink, smoke and vape, according to the first edition of the Nanny State Index published by the Institute of Economic Affairs, a London-based think tank promoting free market economics.
Sweden, the United Kingdom and Ireland came in second, third and fourth respectively, whereas the Czech Republic and Germany were ranked as the most liberal countries in the European Union.
- Court detains man suspected of setting a church ablaze in Ylivieska
- YLE praised for pro-digital culture and leadership
- Conductors' strike to halt most long-distance rail traffic on Thursday
- STTK: Government should support business owners hiring their first employee
- FMI: Spring is well on its way
- Migri to close dozens of reception centres
- Finland is not out of the woods yet, warns chief strategist at Nordea
- Russia scholar: Aho's nomination to Sberbank sends an interesting message
- NCP members affirm support for Stubb in unusual letter
- Retail sales picked up in February