Tensions are escalating between Turkey and Sweden after Swedish authorities permitted a controversial Quran burning protest outside Stockholm’s main mosque. This decision has triggered widespread anger across the Islamic world, notably from Turkey, which holds the power to approve or deny Sweden’s long-standing application to join NATO. Turkish Foreign Minister, Hakan Fidan, expressed strong disapproval […]
In a horrific roller coaster accident at Grona Lund amusement park in Stockholm, Sweden, one person has died and nine others, including a child, are injured. Multiple reports suggest that the ride partially derailed during the incident. According to local news, the amusement park has now been shut down as authorities investigate the scene. The […]
Nordic Capital has inked a deal to acquire a majority stake in Foxway, a European circular IT services provider known for promoting the sustainability of IT devices across the value chain. The parties have agreed to keep the terms of the transaction undisclosed. The joint venture with Foxway’s management and existing owners, Norvestor, is intended […]
Endava, a London-based pure play next-gen technology company, has announced the acquisition of DEK Corporation Pty Ltd, DEK Technologies Sweden AB, and DEK Vietnam Company Ltd (collectively known as DEK), a multinational group specializing in cutting-edge software and hardware solutions. The financial terms of the deal were not disclosed. DEK’s expertise spans various sectors, including […]
Indian IT company Tata Consultancy Services (TCS) revealed that Ikano Bank in Sweden has chosen the TCS BaNCS Global Banking SaaS Platform for its extensive core banking transformation across Europe. The move comes as Ikano Bank seeks to streamline its operations, enhance risk management, and deliver a consistent customer experience. Ikano Bank operates across multiple […]
Sandvik has signed a loan agreement for €500 million with the European Investment Bank (EIB) to support its investments in research and development (R&D). According to the Swedish engineering company, the R&D investments will be made in advanced solutions in component manufacturing and in solutions for electrification and automation in infrastructure and mining. The EIB […]
Infosys has announced the opening of a new proximity center in Gothenburg, Sweden in a move to grow its presence in the Nordics. Through the investment, the Indian IT giant is looking to improve its localization strategy in the Nordics by offering its clients in the region with next-generation digital offerings, as they go through […]
Canada’s Brookfield Super-Core Infrastructure Partners has agreed to acquire a stake of 49% in EduCo from Sweden-based Samhällsbyggnadsbolaget i Norden (SBB) for around SEK9.2 billion ($890 million) in cash upfront, plus up to approximately SEK1.2 billion ($116 million) in cash through earn-outs. SBB is expected to use the proceeds from the transaction to offload debt, […]
Volvo Cars will divest its 33% stake in engine maker Aurobay to Geely Holding, a Chinese multinational automotive company, in an effort to become a fully electric car manufacturer by 2030. The financial terms of the deal were not disclosed. The proceeds from the stake sale will be leveraged to convert Volvo Cars into a […]
Volvo Group has announced plans to build a battery module manufacturing facility at its Ghent truck plant in Belgium, aiming to start production by 2025. Currently, the automobile giant procures both cells and modules from its suppliers. The new battery module facility at Ghent will use battery cells from partners as well as from the […]