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Weekly News from Fyksland

Coverage and translation provided by Vaijskä Radio

Monday, 3 March, 2008

Slump in stock costs Feds billions

KAANSÄ (VKK) - The federal treasury may lose billions due to the plummet in the Fyksian stock market. The value of Fyksian stocks has dropped 120 billion krons since mid-summer 2007. According to preliminary numbers from the Ministry of Finance, a profit of 2.6 billion is expected for 2007. However, because of turbulences that began in stock markets last fall, these financial forecasts may not be realistic anymore. Full story...

Tuesday, 4 March, 2008

Argaiv suspends 150 workers

KAANSÄ (VKK) - Biopharmaceutical company Argaiv has given notice to 150 of its 800 workers and some have already quit. According to CEO Auglut Munsdene, the resignations were necessary to secure continual operations. Munsdene explained that his company is partly operated with its earnings, partly with its balance sheet and partly because of profits from markets. Currently markets are suffering a downswing which Argaiv had not seen coming. Full story...

Wednesday, 5 March, 2008

Opposition blasts government over Lantslau case

KAANSÄ (VKK) - Opposition leader Hemkel Kroig demanded immediate action by Foreign Affairs in the case of Jovi Lantslau, a Fyksian citizen detained in Mexico for over six months without being convicted of a crime. Foreign Affairs Minister Kala Uutipalan assured that the government is dedicated to bring a speedy resolution to Lantslau's legal situation. Lantslau has been held in Mexico on suspicion of prostitution, but her family is insisting that the Mexican authority is preventing Lanslau's access to legal cousel and consular assistance. Prime Minister Rälin Hvåti said that he has already discussed the matter with Mexican president Felipe Calderón during the bilateral meeting in early January. Hvåti added that both the legal process of Mexico and the universal rights to due process must be respected. Full story...

Thursday, 6 March, 2008

Trans fats bill to pass to Upper House

KAANSÄ (VKK) - Fyksland's Consumers' Advocate Association gives a thumbs up to today's parliamentary resolution on banning the sale of certain food products in Fyksland that contain a high amount of trans fats and adopting similar regulations on food products as Denmark did five years ago. The association sent a request to the Ministry of Health one year ago, encouraging the minister to lobby for adopting regulations on limiting trans fats in food products. The bill was brought forth in the Lower House earlier last week. After several readings and debates the bill has now passed to the Upper House for further reading. Full story...

Friday, 7 March, 2008

Fuzzyyarn to knit more sweaters in Chinese factory

NIEKOPENHAAG, Jølantä (VKK) - Clothing manufacturer Fuzzyyarn, which specialises in knitted outter wear, is planning to build its own factory in China. Part of the company's clothing line is already being produced there. Chairman of the board for Fuzzyyar Oleig Viinmåslin said that the company aims at having most of their production at their own factories, which affords better oversight as well as production management and quality control. Viinmåslin added that the company's current factories in Romania will continue to operate. Full story...

Fyksland offers help in Icelandic cod farming

KAANSÄ (VKK) - Icelandic Minister of Fisheries Einar K. Gudfinnsson and representatives of the Icelandic fish industry believe cod farming should be increased to cope with the cut in the cod fishing quota. Fyksland is willing to cooperate with Iceland on developing fish farms. In Fyksland, where cod farming has already become a "real industry," those involved are willing to offer Iceland their guidance and cooperation. "Our secrets will be their secrets; their fish will one day be our fish," said Gudfinnsson's Fyksian counterpart Gunn Sveresman. Sveresman added that the cooperation can only be benefitial to both countries. Full story...

Saturday, 8 March, 2008

Fyksland monitors whaling protests in Southern seas

KAANSÄ (VKK) - The government is monitoring recent confrontations in the Southern ocean between a Japanese whale vessels and anti-whaling group Sea Shepherd, said a Department of Agriculture and Fisheries spokesperson. In light of the recent violent confrontation the government has no intention to stop the study of expanding Fyksian whaling quota from Antarctic waters, said spokeperson Trina Meste. No report of threats has been reported this year but the Royal Coast Guard is closely monitoring Fyksian waters for any activities that would terrorise the local whaling industry. Full story...

Sunday, 9 March, 2008

Car and travel agencies profit despite slowdown

KAANSÄ (AP) - The sale of cars and tours to sunny locales has rarely been higher despite an economic downswing in Fyksland, the current credit crunch and plummeting stock prices. According to Volvo Fyksland, most of the nation has been left untouched by these economic fluctuations. During the first two months of 2008 the sale of passenger vehicles increased by 24 percent compared with the same period last year. The sale of tours to foreign destinations is also performing well. Full story...

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