Tag: Nordea
Business Round-Up: International students contribute far more than they take, study claims
Denmark benefits financially from foreign students, shows a major analysis carried out by Damvad Analytics on behalf of the Swedish Engineers’ Association. Together, they contributed DKK 26.7 billion to the nation’s coffers between 2007 and 2020, with technical and natural science courses, such as engineering, accounting for DKK 12 billion. Over the same 13-year period,…
Sweden’s GDP forecast is adjusted downward for next year
STOCKHOLM, Nov. 7 (Xinhua) — Nordea, one of the largest banks in the Nordics, has sharply lowered its forecast for Sweden’s gross domestic product (GDP) for 2023 to minus 1.8 percent from minus 0.5 percent two months ago in Economic overview. Weaker domestic developments, dramatically tightened financial conditions with higher interest rates and inflation eating…
The Governor of the Bank of Finland warns of a serious economic disruption
Stagflation refers to slow economic growth and high unemployment as well as constantly rising consumer prices. In September, the ECB estimated that the euro area economy could contract by 0.9 percent in 2023 if Russia stops selling natural gas and oil transported by sea to Europe and Europe does not find alternative sources of supply.…
Nordea: One in three worried about the economy, 60% have changed their spending habits
According to Nordea’s research, more and more Finns say they save money at the supermarket and cut back on services and dining out.
Finland’s economic forecasts for 2023
From slot games to sports and a lively music scene, the choice is endless. Everyone who calls Finland home knows that this is only possible thanks to the country’s traditionally stable economy. However, recent times have brought murky waters to Finland’s economic prospects – but what can be in store for the year 2023? The…
Nordea’s forecast: Finland’s economic growth will stop in 2023
Even though Finland has a hard winter, thanks to its transition to clean energy, it is in a better situation than many other European countries, the bank said.
The 12-month Euribor had the largest monthly increase on record in August
Helsingin Sanomat on Tuesday highlighted that the rate has experienced a larger monthly change only twice in its history, falling 0.914 points in March 2008. The 0.146 point change seen yesterday was also quite unprecedented, as larger daily changes have occurred only six times since early 1999. The total mortgage interest rate is determined by…
Business Round-Up: House prices will fall, economists predict
Data from Boligsiden reveals that the price of villas and townhouses fell by 1 percent in July due to high inflation, while the price of apartments fell by 1.5 percent. Economists expect further declines in autumn and winter. When seasonally adjusted, this is the biggest decline in more than a decade. According to Jeppe Juul…
Tenants face skyrocketing rents due to high inflation
According to the tenant interest organization Lejernes Landsorganisation, at least 180,000 Danish tenants risk significant rent increases due to continued inflation. Some may already be experiencing rent increases, while many can expect to receive “stunning” new contracts at the end of the year. “This is going wrong. It has become a serious problem that will…
Finnish lenders report a decrease in demand for mortgages
The average interest rate on new mortgages, on the other hand, rose from 0.73% in June 2021 to 1.59% in June 2022. The loan margin accounted for an average of 0.82 percentage points, compared to 0.7 percentage points a year earlier. . Finland’s leading mortgage lender OP Financial Group has reported that it granted 15…
Fuel prices are not going down anytime soon, analysts say
Payment card data shows that ten percent less gasoline is bought in Finland than last year, but 40 percent more is still consumed. Fuel prices have risen in Finland this summer to a record high of no less than 60 percent from last year. Although prices have fallen from the peaks of early summer, a…
Finnish borrowers will notice the ECB’s interest rate hike, experts predict
Wind BirchNordea’s Chief Economist, stated To YLE on Thursday, that the change, although more confident than expected, will only lead to a moderate increase in the Euribor interest rate. Finland’s most common mortgage reference rate Euribor 12 already priced in the expectation that interest rates will be raised by one percentage point in July-September. “These…
Francisco Cerundolo amazes Casper Ruud at the Nordea Open
Bastad [Sweden]July 14 (ANI): Francisco Cerundolo kept his own nerves and a strong comeback from Casper Ruud to cause a second round upset and achieve his first top 10 win at the Nordea Open in Båstad on Wednesday. Cerundolo broke French Open finalist Ruud’s serve three times to win 6-4, 3-6, 7-5 at the ATP…
The euro weakens to parity with the dollar
The euro weakened to the level of the dollar on Tuesday for the first time since the introduction of the currency in 2002. Finland was one of the first members of the Eurozone – an informal term for countries that belong to the European Economic and Monetary Union (EMU) and use the euro as their…
ATP roundup: Steve Johnson, Jack Sock wins in Rhode Island
Americans Steve Johnson and Jack Sock opened the Infosys Hall of Fame Open with straight victories on Monday in Newport, RI Johnson, who won the tournament in 2018, beat compatriot Stefan Kozlov 7-5, 6-3. Johnson outscored Kozlov 6-0 and won a dominant 31 of 37 first-hand points (83.8 percent). At the same time, Sock Radu…
Finland will introduce a new tool to control household indebtedness in 2023
The maturity of the loans should also not exceed 25 years and the interest rate must be at least six percent in the calculation, with the exception of fixed-rate and long-term interest-protected loans. The recommendation is due to enter into force on 1 January 2023. Marja NykänenThe chairman of Fiva’s board said the recommendation is…
Culture collection: Another good reason to ‘escape’ to West Jutland this summer
FLUGT, a new museum dedicated to the history of Danish-bound refugees in the small West Jutland town of Oksbøl, opens for the first time on Wednesday, and gives visitors the opportunity to see new buildings designed by Bjarke Ingels Group. On Friday, the inauguration of the building was attended by a large number of high-ranking…
The rise in house prices will slow down this year, Nordea and OP forecast
Nordea, for its part, estimates that unit prices may even fall between 2022 and 2023. Housing prices have continued to rise in the first half of this year, albeit at a slower pace than last year. However, Nordea emphasized that the value of households’ own mortgages is higher than in the years before the coronary…
The Finnish housing market is falling
OP Financial Group and Nordea Bank forecast that the rise in house prices in Finland will slow down this year and next after the exceptional growth period of 2021. According to OP Bank’s recent forecast, changes in house prices will be between -0.5 and +0.5 percentage points next year due to a slowdown in interest…
Service disruptions affected Finnish bank customers
Bank customers in Finland had service disruptions on Wednesday, and many reported that their monthly salary or benefits had not been credited to the bank account. Several customers of Nordea, Danske Bank and S Bank who experienced the problem found out on social media on Wednesday morning what caused the disruption. Nordea Bank tweeted the…
Yle: A leaked inspection shows that Nordea has ignored money laundering concerns
An internal report issued by Luminor Bank in 2019 points to serious shortcomings in the anti-money laundering practices of Nordea and DNB’s Baltic unit in Norway. Luminor Bank was founded by Nordea and DNB in 2017. Yle’s investigation unit MOT found that billions of dubious euros were flowing through the Baltic offices of the two…
Nordea suspends two employees on suspicion of fraud
– Nordea regards the arrests with the utmost seriousness and we are Collaborating closely with the authorities, including the police, on the case. We are taking all necessary steps with regard to the two employees, says Randi MarjamaaCountry Senior Executive and Head of Personal Banking at Nordea Norway. – Nordea will never accept any form…
Tuesday’s newspapers: NATO and investments, monkey pox disinfo and successive hockey host Tampere
Jyväskylän Keskisuomalainen is among the leading newspapers syndicated article where several economic analysts say investors are likely to see Finland as a slightly higher risk country during the ongoing NATO membership process. According to these experts, the perceived risks are related to concerns about various disturbances by Russia. "During the process, there is some uncertainty…
Explanation: Many Finns have not prepared for interest rate hikes on housing companies’ loans
Nearly three-quarters (73%) of respondents with a personal mortgage said they were prepared for an increase in interest rates. Maiju HinnoNordea’s Senior Vice President, Housing, expressed concern about the results, especially due to the recent rise in interest rates. “A housing loan is comparable to a corporate loan, so its terms and flexibility are much…
Nordea weakens Finland’s economic outlook
Nordea Bank forecasts that the Finnish economy will grow by two percentage points this year instead of three. The bank says its outlook is lower than previously forecast due to the geopolitical situation surrounding Russia’s war in Ukraine and China’s tight zero-Covid policy. Its outlook in January, nearly two months before the Russian invasion, predicted…
Economists advise households to prepare for an interest rate of 1.5 to 2.0 percent
Reijo HeiskanenOP Financial Group Chief Economist and Jan von GerichNordea’s chief analyst told the Finnish News Agency on Monday that they expect the interest rate to rise to 1.5 per cent in the next year or two, but warned that forecasting is currently difficult due to accelerating inflation. “I personally thought it could be in…
Nordea Bank reports service disruptions, savings accounts appear empty
According to Nordea Bank, its online services have been disrupted on Saturday morning, affecting customers’ savings accounts. According to the company, the problem seems to be due to account balances. Director of Communications at Nordea Satu Malkamäki Customers may feel that their savings account is empty, even though there is money in the account. Malkamäki…
The website of the Finnish Ministry of Foreign Affairs and Defense is the target of a cyber attack
The websites of the Finnish Ministries of Defense and Foreign Affairs were out of order on Friday, the ministries announced in separate tweets shortly before 1 p.m. The Department of Defense said its website crashed due to a denial of service (DoS) attack and is investigating the matter. Head of Communications at the Ministry of…
Nordea: Rising housing costs are hitting homeowners the hardest
Rising interest rates, accelerating inflation and the resulting rise in housing costs are straining the wallets of homeowners in particular, Nordea Bank says in its recent housing market review. According to the consumer price index, housing costs rose by 7.3 per cent year-on-year in February. "The price of electricity has risen by an average of…
Most of Finland’s highly educated people abroad have experienced discrimination in their job search and work
says Mika Sallinen, Country Director of Universum Finland, an organization focusing on employer image research and development. A joint study by Universum and the City of Espoo also revealed that the biggest challenges in job search are related to employers’ requirements for proficiency in the mother tongue of Finnish. “The survey was answered by almost…
Monday’s newspapers: Finnish food security, market turmoil and Zelenski Street in Helsinki
Russia’s invasion of Ukraine is putting pressure on the global food system, and Finland is facing rising food prices, the report said. Helsingin sanomat newspaper. Finnish fertilizer companies are already experiencing pressure, and some are telling HS that they are concerned about Russia’s ability to restrict exports of fertilizer raw materials. One of these companies,…
Wednesday’s newspapers: Halla-aho’s "strong words"cyber attack on Nordea, Finland on behalf of Ukraine
Helsingin sanomat newspaper write that Jussi Halla-aho (Finns) – the former leader of the Basic Finns and now the chairman of the parliamentary foreign affairs committee – told the newspaper on Tuesday that the West’s intervention in the war in Ukraine will soon be inevitable, so it would be better to do it sooner rather…
Wednesday’s newspapers: Ukrainian update, sports sanctions, frozen penis
The escalating security situation in Ukraine continues to dominate Finland’s news headlines. Tampere-based Aamulehti reports that the U.S. Secretary of State Anthony Blinken has canceled its planned meeting with the Russian Foreign Minister Sergei Lavrovwhile Turku-based Turku Sanomat write that EU foreign ministers have reached a consensus on sanctions against Russia. In the meantime, Helsingin…