Latest business news and updates from Finland in English.
Kymen Tuki begins change negotiations affecting 13 positions in hospital logistics services. The talks cover 55 employees at Kymenlaakso Central Hospital and will last at least three weeks. This comes amid broader cooperation negotiations across the Kymenlaakso welfare district.
Two Finnish cooperative banks have launched representative board elections, with voting open until November 13. The elections will determine banking oversight across southeastern Finland regions, highlighting the unique customer-owned banking model.
Finland's industrial sector shrinks as factories close across the country. Service industries create most new jobs while manufacturing declines. The economic transition brings challenges for workers and communities.
Kouvola recorded Finland's sharpest decline in older apartment prices during the third quarter, falling 15.4 percent year-on-year. Meanwhile, Kokkola saw the strongest growth at 4.3 percent. All major Finnish cities experienced overall price decreases in the housing market.
Experienced entrepreneur Adnan Ali Sherko has opened Ridecare car wash and auto service in Imatra, attracted by affordable rental costs. The business operates in former Neste facilities near the Russian border, bringing auto services to the border region.
Finland moves forward with the 3-billion-euro Western Rail Line connecting Helsinki and Turku. The project promises economic benefits but faces political opposition and cost concerns. Municipal councils will make final decisions in the coming weeks.
Three clothing retailers face relocation in Helsinki's Redi shopping center as Kesko expands its supermarket operations. The fashion stores must vacate their current spaces to make way for a larger Citymarket format. Shopping center management confirms ongoing negotiations to find new locations within the complex for the affected businesses.
A Finnish care company expands its services by acquiring Imatran Kotiapu Oy. All eight employees will continue in their roles while the previous owner retires. The deal strengthens home care options in South Karelia.
Finnish media giant Sanoma closes its Tampere printing plant, eliminating 65 jobs. Two major newspapers will now be printed in Vantaa instead. The move reflects continuing challenges in the print media industry.
Pyhäjärvi stands alone as Finland's only CC-rated municipality in latest housing market ratings. Properties there sell for as little as €10,000, but population decline creates long-term risks. The data shows deepening division between growing urban centers and struggling regions.
Vesa Volmari takes permanent leadership of UPM's Kaukas pulp mill while maintaining his role at Kymi mill. The experienced director brings continuity to Finland's forest industry during challenging market conditions. This dual appointment signals UPM's strategic approach to mill management.
Central Finland Cooperative Bank divests from Jyväskeskus shopping center, selling its stake to local investor Timo Häll's company. The deal transfers half ownership of the prominent Jyväskylä property while the other half remains with an Espoo-based firm. This move reflects the bank's strategic focus on core banking operations.
Finnish automotive manufacturer Valmet Automotive and defense company Patria have agreed to explore armored vehicle production together. The partnership would utilize Valmet's Uusikaupunki factory for defense manufacturing. This marks Valmet's strategic expansion beyond traditional automotive work.
Finnish companies Valmet Automotive and Patria plan to produce armored vehicles together in Uusikaupunki. The agreement marks Valmet Automotive's entry into defense manufacturing amid ongoing restructuring. Final contract negotiations are currently in progress.
Finland's municipalities have been ranked by housing market stability, with Helsinki and Pirkkala topping the list. The assessment shows strong performance in growing urban areas while Central and Eastern Finland face higher risks. Home prices are expected to decline slightly this year before recovering in 2025.
Finland secretly spent 120 million euros to rescue the Uudenkaupungin auto plant from bankruptcy. The government partnered with private investors to buy out Chinese owners and restructure operations. Documents about the massive bailout remain completely hidden from public view.
Muurame municipality in Finland has approved a growth budget ensuring financial independence through strategic land development. The plan maintains current tax rates while creating new business and residential zones to boost local revenue.
Finnish electronics retailer Verkkokauppa.com received a 540,000 euro fine for failing to report suspicious cash payments from international customers. Regulators found the company did not file any reports about tens of thousands in cash transactions despite clear warning signs. The penalty highlights increased scrutiny of anti-money laundering compliance in Nordic retail sectors.
Finnish tax authorities found €11 million in unpaid taxes during targeted audits of pizzerias, kebab shops, and Chinese restaurants. Over half the inspected businesses showed serious violations requiring criminal investigation. The findings mirror previous audit cycles, indicating persistent tax evasion in certain restaurant segments.
K Group's retail sales in Finland's Kymenlaakso region reached 223 million euros with 0.3% growth. Auto parts and hardware stores showed the strongest performance, while several renovated K-market locations reopened to positive customer response.
OP Central Finland reports strong Q3 results despite declining operating profit. The bank added 21 staff members while net interest income fell 13.3%. Officials project solid full-year performance though below previous levels.
Finnish tax authorities uncovered €18.3 million in undeclared income during inspections of pizzerias and kebab shops. Nearly 200 businesses face criminal proceedings for serious violations including hidden revenue and undeclared wages. The crackdown reveals persistent compliance issues in segments of Finland's restaurant industry.
Finnish electronics retailer Verkkokauppa.com faces a 540,000 euro penalty for serious money laundering compliance failures. The company allegedly failed to report suspicious cash transactions from non-EEA customers. Authorities say the violations exposed the business to significant financial crime risks.
Central Finland has named its circular economy champions, highlighting innovative businesses turning waste into resources. Winners include tool manufacturer JR-Tools, oil recycler NextOil, and Äänekoski Municipality for their sustainable practices.