Sweden Financial News

Sweden is hosting Eurovision for the seventh time this year after singer Loreen won the contest last year for her song 'Tattoo'. Swedish comedian and 2016 presenter Petra Mede has also returned alongside Hollywood actress Malin Akerman. An estimated 160 million viewers watch the contest on television sets and 37 acts representing countries will take place this year. The competition kicked off on May 7 and it will be followed by events on May 9 and May 11, reports the 'New York Times'.

HBO has revealed that Lady Gaga's concert special, Gaga Chromatica Ball, will premiere on Saturday, May 25, at 8 pm. The special will air on HBO and stream on Max. Where to Watch

Marcy Venture Partners, the firm co-founded by hip-hop star Shawn “Jay-Z” Carter, is in advanced talks to merge with the investment arm of Pendulum Holdings, according to people familiar with the matter.

Vietnam’s anti-corruption drive, which the ruling Communist Party chief Nguyen Phu Trong likened to a “blazing furnace," is running hot. This year alone, two of the four pillars of power, including the chairman of the parliament and the country’s president, left their posts amid graft allegations. Last month, Truong My Lan, a real estate tycoon and Vietnam’s richest woman, was sentenced to death for her role in a $12 billion fraud case that involved Saigon Commercial Bank, one of its largest lenders.

wealth tax in the country. Speaking to ANI, he said such a move could drive India's wealthiest individuals to relocate their businesses to tax-friendly destinations such as Dubai. On the potential repercussions of such a tax policy, he said the wealthiest Indians, such as the Ambanis, and Adanis, might choose to emigrate to tax havens, leading to a substantial loss of wealth for the country.

AstraZeneca said on Tuesday it had initiated the worldwide withdrawal of its COVID-19 vaccine due to a "surplus of available updated vaccines" since the pandemic. The company also said it would proceed to withdraw the vaccine Vaxzevria's marketing authorizations within Europe.

Stocks made small gains in holiday-thinned trading as traders turned their attention to a line-up of central bank speeches this week. 

Luminar Technologies, a maker of lidar sensors for self-driving cars, said on Friday that it would cut its workforce by about 20%, as part of a restructuring plan for the current year. As of December last year, the company had nearly 800 full-time employees in the U.S., Germany, Sweden, India and China.

Bosch (Bosch family). In Sweden, the Wallenbergs control significant shareholding in its mega corporations like ABB, Volvo, Erickson, Electrolux and others, with their management left in professional hands. It is similar with other European businesses like H&M (Persson family).

ALSO READ:India slips 11 positions on World Press Freedom Index Meanwhile, Pakistan ranked seven spots above India at 152. It had ranked 150 in 2023. Norway topped the ranking , while Denmark was on the second rank in World Press Freedom Index.

ballistic missile defences facing their first complex, high-stakes combat scenarios in Israel, the Red Sea and Ukraine will encourage militaries globally to invest in the pricey systems, experts say — and intensify missile arms races. Iran launched as many as 120 intermediate-range ballistic missiles at Israel on April 13, U.S. and Israeli officials say. U.S. SM-3 and Israeli Arrow interceptors destroyed nearly all of them, leaving drones and smaller threats to the Iron Dome system. In previous months, interceptors fired from U.S. Navy destroyers stopped Houthi anti-ship ballistic missiles, while in Ukraine, U.S.-made MIM-104 Patriot batteries have shot down advanced Russian Iskander and Khinzal missiles.

Reuters reported on Thursday. The move by the Food Safety and Standards Authority of India comes at a time when the country’s popular spice brands are under scrutiny for quality-related concerns after Hong Kong and Singapore banned certain readymade spices from MDH and Everest—considered household names in India for spicing up our daily food palette. The development is not good news for the world’s largest spice producer and consumer.

Chang'e-6 on Friday to collect samples from the far side of the moon. The probe is set to collect samples from the far side of the moon, making this mission the first of its kind in human history, China National Space Administration (CNSA) said in its announcement. Currently, preparations for the mission are progressing steadily at the Wenchang Space Launch Site in south China's Hainan Province, and the Long March-5 Y8 carrier rocket will soon be refuelled with propellant, the CNSA said.

Apple's App Store, where the apps were listed as "art generators." After 404 Media's report surfaced, which detailed how these apps were advertised and linked to on Instagram, Apple was asked for comment but did not immediately respond. However, once the article was published, the company reached out to request more details. After receiving direct links to the specific ads and App Store pages, Apple promptly removed the apps from its platform.

Sweden has officially become a member of NATO, the North Atlantic Treaty Organization, amid rising tensions with Russia. This move comes as part of NATO's efforts to bolster its defences in the wake of Russia's invasion of Ukraine. The addition of Sweden and Finland, which joined earlier, marks the alliance's largest expansion since the 1990s. NATO's Purpose and Membership NATO was established in 1949 to counter Soviet expansion and maintain peace in Europe. It has since grown to include 32 member countries, including the UK, US, Canada, France, Germany, Italy, Spain, and Turkey. Following the Soviet Union's collapse, many Eastern European countries joined, and now, Sweden and Finland have joined the alliance, contributing nearly 300,000 troops.

masked attackers stormed a meeting in Swedish capital Stockholm, police said on Wednesday, adding that they had begun an investigation. An evening event by the Left Party about growing fascism in Sweden was just about to start when a group of masked people entered the venue, said anti-racist foundation Expo, which had a member participating in the event.

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pharmaceuticals exports increased 9.67 per cent year-on-year to USD 27.9 billion in 2023-24, even as the total exports dipped by 3 per cent in the last fiscal. According to the commerce ministry data, pharma exports in March grew by 12.73 per cent to USD 2.8 billion. In 2022-23, the exports stood at USD 25.4 billion. The top five export markets, for the sector during the last fiscal, are the US, the UK, the Netherlands, the United Kingdom, South Africa and Brazil.

EQT Partners has announced a new leader for its fast-growing private wealth management business in the Americas.

Germany. According to the European Union's official website, the rules have been updated in view of strengthened relations between European Union and India under EU-India Common Agenda on Migration and Mobility. This agenda seeks comprehensive cooperation on migration policy between the European Union and India, with facilitation of people-to-people contacts being of key aspect due to the importance of India as a partner for the EU.

Wireless and fixed-network equipment maker Nokia has reported a smaller-than-expected profit and a substantial double-digit fall in sales in the first quarter due to a market weakened by a lack of investment by clients in 5G technology