Latest news with #Nordics
Finextra
21 hours ago
- Business
- Finextra
How Evolving Regulation is Enabling Overdue Investment in Payment Hubs
Christina Fransson, Senior Business Development Manager, Enterprise & Instant Payments, FIS Global in her FinextraTV interview at NextGen Nordics discusses the history of centralised payment factories and how they have grown into the modern payment hubs, . From Fransson's perspective, evolving regulation has been a much-needed push for banks to invest in a centralised system like payment hubs and the holistic abilities they provide. She details why this is important and what to expect from the future.
Yahoo
21 hours ago
- Business
- Yahoo
Ísfélag hf. participation in financing of Austur Holding AS in connection with Kaldvik AS share capital increase
Ísfélag hf. (the 'Company'), which holds a 29.3% stake in Austur Holding AS ('Austur'), hereby announces its participation in the financing of Austur in relation to Austur's subscription in a share capital increase of Kaldvik AS, following the approval of an extraordinary general meeting of Kaldvik AS on 19 June 2025. Kaldvik AS, listed on Nasdaq First North Growth Market and Euronext Growth in Oslo, announced on 5 June 2025 the results of a private placement of 38,011,500 new shares for a total subscription amount of NOK 532 million, equivalent to approximately EUR 46.2 million. Austur was allocated 27,045,027 shares, representing approximately 71.2% of the total allocation, for a total subscription amount of NOK 378.6 million, or approximately EUR 33 million. The allocation of new shares was i.a. subject to approval by the extraordinary general meeting of Kaldvik AS. Furthermore, following the private placement, the purchase by Austur of an additional 860,000 shares in Kaldvik AS was announced on 10 June 2025. Following shareholder approval of the share capital increase in Kaldvik AS on 19 June 2025, Austur is obliged to settle its allocated portion of the new shares pursuant to the private placement. In accordance with a financing agreement between Austur and its shareholders, Ísfélag will provide financing in connection with the aforementioned transactions in the amount of NOK 341 million (approximately EUR 29.7 million), comprising an equity contribution and in the form of convertible shareholder loans. Following these transactions Austur shareholding in Kaldvik AS will be a 57.35% but was previously 54,06%. The investment forms part of the Company's strategy to diversify its revenue streams and to support the continued development of Kaldvik in to access your portfolio
Los Angeles Times
21 hours ago
- Politics
- Los Angeles Times
Finland's lawmakers vote to leave land mine treaty as Nordic country boosts defenses against Russia
HELSINKI — Finland's parliament voted overwhelmingly to pull out of a major international treaty on antipersonnel land mines Thursday as the Nordic country seeks to boost its defenses against an increasingly assertive Russia next door. Finland shares a 830-mile land border with Russia and joined NATO in 2023. Finland says land mines could be used to defend its vast and rugged terrain in the event of an attack. Finnish lawmakers voted 157-18 to move forward on a government proposal to leave the Ottawa Convention. The Nordics and Baltics have been sounding the alarm on a potential Russian incursion since it launched a full-scale invasion of Ukraine in 2022. Analysts say Ukraine is among the countries that are the most affected by land mines and discarded explosives, as a result of Russia's ongoing war. The Ottawa Convention was signed in 1997, and went into force in 1999. Nearly three dozen countries have not acceded to it, including some key current and past producers and users of land mines such as the United States, China, India, Pakistan, South Korea and Russia. In a report released last year by Landmine Monitor, the international watchdog said land mines were still actively being used in 2023 and 2024 by Russia, Myanmar, Iran and North Korea. In the Baltics, lawmakers in Latvia and Lithuania earlier this year voted to exit the treaty. Mirjana Spoljaric, president of the International Committee of the Red Cross, said civilians will pay the price if more countries leave the treaty. 'The global consensus that once made anti-personnel mines a symbol of inhumanity is starting to fracture,' Spoljaric said in a news release earlier this week. 'This is not just a legal retreat on paper—it risks endangering countless lives and reversing decades of hard-fought humanitarian progress.'
a day ago
- Politics
Finland votes to leave land mine treaty as Nordic country boosts defenses
HELSINKI -- Finland's parliament voted overwhelmingly to pull out of a major international treaty on antipersonnel land mines Thursday as the Nordic country seeks to boost its defenses against an increasingly assertive Russia next door. Finland shares a 1,340-kilometer (830-mile) land border with Russia and joined NATO in 2023. Finland says land mines could be used to defend its vast and rugged terrain in the event of an attack. Finnish lawmakers voted 157-18 to move forward on a government proposal to leave the Ottawa Convention. The Nordics and Baltics have been sounding the alarm on a potential Russian incursion since it launched a full-scale invasion of Ukraine in 2022. Analysts say Ukraine is among the countries that are the most affected by land mines and discarded explosives, as a result of Russia's ongoing war. The Ottawa Convention was signed in 1997, and went into force in 1999. Nearly three dozen countries have not acceded to it, including some key current and past producers and users of land mines such as the United States, China, India, Pakistan, South Korea and Russia. In a report released last year by Landmine Monitor, the international watchdog said land mines were still actively being used in 2023 and 2024 by Russia, Myanmar, Iran and North Korea. In the Baltics, lawmakers in Latvia and Lithuania earlier this year voted to exit the treaty. Mirjana Spoljaric, president of the International Committee of the Red Cross, said civilians will pay the price if more countries leave the treaty. 'The global consensus that once made anti-personnel mines a symbol of inhumanity is starting to fracture,' Spoljaric said in a news release earlier this week. 'This is not just a legal retreat on paper—it risks endangering countless lives and reversing decades of hard-fought humanitarian progress.'
Yahoo
a day ago
- Business
- Yahoo
Statkraft to streamline operations, targeting $291m cost cuts and layoffs
Statkraft has announced plans to enhance its core competitive advantages by focusing on its flexible hydropower fleet in the Nordics and on solar, wind and battery ventures across Europe and South America, following a strategic review of its business. The move comes amidst slower progress in energy transition due to heightened global uncertainty, rising costs and declining power prices. The company now aims to build scale, bolster competitiveness and drive value creation by narrowing its focus on select technologies and markets. Statkraft's revised approach prioritises cash flow over volume expansion while simplifying operations to cut costs. The company has set complexity reduction goals, which include slashing payroll and other operating expenses by Nkr2.9bn ($291m) annually by 2027, a 15% decrease relative to predictions for 2025. The specific cost efficiency measures, including redundancies, will be determined during the annual business planning process in the second half of 2025. Statkraft president and CEO Birgitte Ringstad Vartdal stated: 'By concentrating on our core competitive advantages and prioritising investments in near-term profitable opportunities, we will be able to continue our growth and value creation, while contributing significantly to the energy security and energy transition. 'Statkraft needs to adapt to the changing market and increased geopolitical uncertainty. Unfortunately, this also impacts our most important asset: our people. We will do what we can to limit uncertainty and mitigate negative effects on employees.' The company plans to make investments between Nkr16-20bn ($2bn) each year into projects such as large-scale hydropower upgrades in Norway and maintenance of its extensive operational assets. In alignment with announcements made in May 2025, Statkraft will cease new hydrogen project developments. The company will also cease new offshore wind initiatives except for ongoing commitments such as the North Irish Sea Array (NISA) project. Assessments regarding investment positions within solar power sectors, wind farms and batteries in Poland are underway, while development activities in Portugal will be discontinued, although market activities will continue. Although growth rates will be moderated compared with previous projections, solar power and wind power projects will advance in both Europe and South America. These measures will be in addition to the previously announced and ongoing divestment processes, including the district heating and biofuels activities in the Nordics, the development business in Croatia and the Netherlands, and business activities in India. In May 2025, Statkraft agreed to sell its Colombian renewable energy portfolio, Enerfín Colombia, to Ecopetrol, the national oil company of Colombia. "Statkraft to streamline operations, targeting $291m cost cuts and layoffs" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
