It meren kaasuputkireitti kartoitetaan

Article Abstract:

Finland's Neste and Russia Gazprom's company North Transgas will begin surveying the bottom of the Baltic Sea in July 1998 to define the route for a possible gas pipe. The area to be researched extends from the Gulf of Finland via both eastern and western side of Gotland, Sweden, to the German coast measuring nearly 3,500 km. The company will study three route possibilities from Russia: via Finland and Sweden to Germany, via Finland on the bottom of the Baltic Sea to Germany and directly from Russia on the bottom of the Baltic Sea to Germany. The research on the bottom of the Baltic Sea is estimated to take 3 months and the study on the route of the pipe, the gas markets and the project financing is expected to be ready by the beginning of 1999. The research costs amount to Fmk 120mn (US$ 22mn). According to Neste, the gas pipe project's total costs are estimated at nearly Fmk 30bn. Neste wants to be involved in the project regardless of the route. The pipe can in any case be used to deliver natural gas to both the Finnish and Swedish markets and Neste is looking for possibilities of adding their gas operations. However, Neste will not buy Gazprom shares since the cooperation has functioned well both in Finland and in the development project of the new pipe, thus reorganization is unnecessary. Gazprom, however, may consider buying more Gasum shares.

Comment:

Will start with Neste survey of the bottom of the Baltic Sea in 7/98 to define route for possible gas pipe

Natural Gas Distribution, Strategic alliances, Gas Transmission, Natural gas transmission, Neste Corp., North Transgas Oy

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Verot viimein kevyemm t kuin 1995

Article Abstract:

In Finland, the tax rate will in 1999 finally go down to the level of 1995 when the Government promised that the state economy would be stabilized without increasing taxes. However, in 1996-98 the tax rate has been higher than in 1995. The present Finnish Government has in their term lowered income taxes and payments but then increased other taxes. The tax changes for 1999 were already agreed upon in 1997. The state's income tax will decrease by 0.5 percentage points in all but the highest income class. Pensioners' sickness insurance payment will remain higher than others'. The unemployment insurance payment will decrease slightly. In addition to the electricity tax increase, in 1999, also taxation on real estate and sales profits will tighten and companies' depreciation possibilities will be restricted.

Comment:

Finland: Tax rate will in 1999 go down to level of 1995 when Govt vowed that economy would be stabilized without raising taxes

Public Finance Activities, Tax Administration, Taxes

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Henki-Kansan vakuutetuista osa saa varansa ehk piankin

Article Abstract:

The plan to transfer the clients of the Finnish bankrupted Henki-Kansa life insurance company has not been realized and the negotiations have ended. Some Henki-Kansa insurance policy holders may get the right to terminate their insurance policies and be refunded the accumulated funds. The Finnish Ministry of Social Affairs and Health will settle the matter in Aug-Sept 1998. The insurance policy termination affects approx. 20,000 policy holders. The bankruptcy trustee emphasizes that the policy terminations are connected to the overall operative plan. The arrangements are not in order to favour certain debtors. Attempts will be made to try and sell the insurance portfolio in a few years time.

Comment:

Policy holders may get the right to terminate policies & be refunded accumulated funds according to Social Affairs & Health Min

Organizational history, Life Insurance, Direct Life Insurance Carriers, Henki-Kansa

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