Helsinki Times

Green power hits red tape

Energy industry lobbyists say that at the current rate of construction, targets for wind and hydroelectric power will not be achieved.

LABYRINTHINE bureaucracy is holding back the increased use of wind power, and preventing the planning and construction of new hydroelectric power plants. This is the view of Finnish Energy Industries, which represents the country’s electricity and district heating companies.

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The austerity problem

Countries want to engage in fiscal stimulus to improve their economies, but are hampered by a collective demand for austerity.

THE new treaty governing government spending in the European Union is not set to take effect until next year, but it may already be unravelling. There has been a strong pushback against austerity measures, both from prominent economists and the electorate.

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A thoroughly international private equity firm

Intera Partners is a private equity group that seeks to help its companies expand with capital and know-how.

A YEAR AGO Intera Partners announced the closing of their second fund, having raised 200 million euros from Finnish and international investors. The private equity firm attracted notice because the majority of the money it raised for its new fund came from international investors.

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Take the money and run, Mark Zuckerberg

The initial public offering (IPO) of Facebook has been an utter success story. With trading set to begin on Friday, the demand from investors remains high. The company plans to sell some 421 million shares for a price per unit of 34–38 USD, translating to a return of 16 billion USD. Furthermore, the company's value is set to exceed 100 billion, nine times the current value of Nokia. Telling of the massive scale of the offering, Google's IPO in 2004 raised 2 billion USD. Despite 900 million global users, however, Facebook's revenue from last year was 3,7 billion; the current evaluation is based solely on expectations.

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Gartner: Samsung the largest mobile phone maker

Nokia yielded up its position for 14 years as the world's largest mobile phone maker, the leading global information technology research and advisory company, Gartner notified on Wednesday. Between January and March, the South Korean Samsung sold three million mobile phones more than Nokia. Gartner's market review indicates that Samsung's global market share increased to 20,7 per cent while Nokia's share decreased to 19,8 per cent. The third-largest maker, Apple increased its share by 4 percentage points from last year to 7,9 per cent. Between January and March, 419,1 million mobile phones were sold worldwide. 144,4 million of these were smartphones. Overall, the sales of mobile phones declined slightly from last year.

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AFP - Lehtikuva - JUNG YEON-JE

Finland's first Starbucks store opens at Helsinki-Vantaa airport

The first Starbucks store in Finland opens today at Helsinki-Vantaa airport. The store, operated by SSP Finland, is located in Terminal 2, Arrivals Hall 2B and is thereby open also for non-passengers. SSP Finland have announced plans to open a second store at the airport during fall 2012. Furthermore, there are plans to open15–20 Starbucks stores elsewhere in Finland, Kalle Ruuskanen, the managing director of SSP Finland revealed to Helsingin Sanomat earlier this year. Also in other Nordic countries, Starbucks stores were first opened at airports.

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Facebook's initial public offering already oversubscribed?

Facebook's initial public offering may already be oversubscribed, as demand from institutional investors exceeds availability. Facebook is currently on a cross-US road-show to stir investors' interest, which remains high despite concerns over slowing growth and difficulties to generate revenue from the mobile users. The company generates most of its revenue from advertising but only recently introduced advertising to its mobile version. The share issue is expected to raise roughly 10.6 billion USD.

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Going south for savings

The ferry glides slowly through the Bay of Finland, leaving Helsinki behind. Although we’re barely on our way, things are already in full swing in the ferry restaurant, with food and drink on many tables.

At a window table, a group of women have got to work knitting. “Today we’re going to the opera, and tomorrow we’re off to a handicraft supply store,” says one of the group, Marjaleena Weissmann, outlining the pensioners’ plans. The friends, from Kouvola, visit Estonia as often as five times a year. According to a recent survey carried out by the Federation of Finnish Commerce, pensioners are the most frequent Finnish visitors to Estonia. Like those of other age groups, they’re drawn mainly by the lower prices.

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Instant loans continue to thrive

Authorities have continually tried to dampen the industry of instant loans, but it is still going strong.

SEVEN years ago, companies first began allowing people to apply for loans via text messages. Authorities have continually tried to dampen the industry, but it is still going strong.

The concept is relatively simple: a customer applies for a loan in a simple format, such as through text messages or online, and receives the money within minutes. The loan is repaid quickly, sometimes in as little as seven days.

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Marimekko sales increase abroad

In comparison to 2011, Marimekko increased its foreign sales by 25 per cent between January and March 2012. Growth was notable particularly in the US with 80 per cent increase. Sales increased worldwide, with the exception of Finland. The gross result, however, was 1,1 million euros in the red. Marimekko estimates that new stores and the expansion of the distribution network will increase sales significantly during 2012. Signalling the company's plans to increase sales in China, Marimekko opened its first store in Hong Kong last week. In China, the company aims to open 15 stores by the end of 2016. Further investments to international growth will follow, stated the CEO of Marimekko, Mika Ihamuotila.

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