While the Finnish Economy continues to struggle finding growth, the financial engine of Sweden keeps on ticking at a good pace. The economy of this neighbouring Nordic wellfare state, just across the Baltic Sea, has grown for multiple consecutive quarters. During the same time the Finnish equivalent has been shrinking or stagnating.
The quality of higher education and training is a crucial determinant of a country’s competitiveness and its capacity for economic growth. Manufacturing and some low productivity jobs are being shifted to countries where labour costs are lower.
Jolla today announced that Indian company Intex Technologies will be it's first licensing customer. Earlier in July the Finnish smartphone start-up Jolla announced that it will focus on developing and licensing it's Mobile Operating System, SailFish. In the past the company also developed handsets for it's own OS.
Finnvera, a credit agency owned by the State of Finland, has agreed to guarantee a loan of some 150 Million Euros for the Russian teleoperator Megafon. The lender is the Italian bank UniCredit. The agency agreed to guarantee loans for purchase of telecomms equipment from the Finnish company Nokia. It has done so before in 2008, 2011 and 2014.
Microsoft may lay off half of it's staff in Espoo, sources revealed to Länsiväylä newspaper. Microsoft has not yet confirmed the number of people affected by the shake-up announced last week, following write downs of Mobile Phones business purchased from Nokia. The information comes from anonymous sources close to Länsiväylä.