A Marimekko store in Helsinki on 15 May 2019. The Finnish market continues to account for roughly a half of the sales of the Finnish fashion house. (Laura Ukkonen – Lehtikuva)

MARIMEKKO on Thursday reported that its operating profit more than doubled from the previous year between January and March.

The Finnish fashion house said it registered an operating profit of 2.6 million euros in the first quarter of the year, following an up-tick of seven per cent in domestic net sales and one of 18 per cent in international net sales.

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This aerial photo taken on May 8, 2019 shows a cargo ship berthing at a port in Lianyungang in China's eastern Jiangsu province. - China's exports fell more than expected in April while imports rose, official data showed on May 8, ahead of high-stakes talks aimed at resolving a trade war with the United States. (Photo by STR / AFP) / - LEHTIKUVA / AFP

Munich, May 10, 2019 – International economic experts fear that the tariff war between the US, China, and Europe will lead to a decline in world trade. This is the result of the World Economic Survey conducted by the ifo Institute among 1,130 economists worldwide. When asked to name the most significant consequence of the higher tariffs, the predominant answer was “less trade.”

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Stockmann on Tuesday announced it will sharpen its focus on high-quality premium fashion, beauty and home products. (Markku Ulander – Lehtikuva)

STOCKMANN on Tuesday announced it will initiate consultative negotiations with its personnel with a view to terminating a maximum of 160 positions.

The iconic, cash-strapped department store chain stated that the redundancies are part of its belt-tightening effort and make up less than a third of its 40 million-euro cost-cutting target to be achieved in the first half of 2021.

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Ilkka Hämälä, the CEO of Metsä Group, presented the Finnish forest industry company’s first-quarter result in Helsinki on Friday, 26 April. (Martti Kainulainen – Lehtikuva)

METSÄ GROUP on Friday announced it has moved on to the pre-engineering stage of a project to construct a massive bioproduct mill in Kemi, Finnish Lapland.

The Finnish forest industry giant said the mill would have an annual production capacity of 1.5 million tonnes of softwood and hardwood pulp, provide employment to around 2,500 people and replace its outdated pulp mill in the roughly 20,000-resident town on the coast of the Baltic Sea.

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A substantial number of new employees are to start work at the assembly plant of Valmet Automotive in Uusikaupunki, South-west Finland. (Vesa Moilanen – Lehtikuva)

VALMET AUTOMOTIVE on Thursday announced it will launch yet another large-scale recruitment campaign.

The Finnish car contract manufacturer revealed that it will recruit a total of 1,000 new employees at its assembly plant in Uusikaupunki, South-west Finland, and battery pack assembly plant to be opened by year-end in Salo, Western Finland.

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Chinese business and public figures met in Helsinki to discuss how Finnish companies can do business in China (Image: Evergrow)

LAST WEEK SAW business leaders, public figures, and investors gather at startup hub Maria 01 for the first-ever Europe-China Economic and Trade Forum, an event aimed at strengthening economic and trade links between the two countries and between China and the EU.  

The event was organized by China-Europe Association for Technical and Economic Cooperation (CEATEC)Silk Passage Business Consultancy co. LTD and EverGrow Oy with the intention of furthering mutual understandings of European and Chinese business culture and encouraging Finnish companies to set up shop in China.  

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Posti on Monday announced it will launch consultative negotiations with employees in production or administration-related jobs at its postal services unit. (Antti Aimo-Koivisto – Lehtikuva)

UP TO 124 PEOPLE could lose their jobs as a consequence of the consultative negotiations announced on Monday by Posti.

The Finnish state-owned postal service provider said the redundancies are part of its effort to reduce annual operating costs by 150–200 million euros over the next three years. The cost savings, it explained, are made necessary by the drastic decline in the volume of letter and magazine deliveries.

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One of the giants of the Russian nickel and palladium mining and smelting industry — Nornickel — has been earning a lot of credits for its eco-friendly modernisation over the past years.

This time the company is willing to invest over RUB 6.2B (EUR 85,6M) to increase the efficiency of its sulphuric acid production and reduce emissions to the atmosphere.

The upgrade will take place in the Kola MMC in the Murmansk region of Russia, which borders Finnish territories.

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Finnair is seeking to reduce its emissions by both adopting new technology and making operational decisions, says Päivyt Tallqvist, the head of media relations at the state-owned airline. (Handout – Finnair)

A TOTAL OF EIGHT European airlines registered a larger increase in their carbon dioxide emissions last year than the 6.9 per cent registered by Ryanair, the airline with the highest carbon dioxide emissions and the first airline to enter the list of 10 biggest polluters in Europe.

One of the eight airlines was Finnair, which emitted slightly over 11 per cent more carbon dioxide than in the previous year.

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The Finnish government cautiously welcomed the recent news that the economy is finally in full recovery mode. Employment levels are close to record heights, wage growth is outstripping inflation, and job creation is accelerating at a pace not seen since before the financial crash. While storm clouds still remain and growth is still faltering, there is some space for optimism.

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