Nordic News, Business and Life in Asia
Follow the latest business developments connecting the Nordic countries
with Asia. ScandAsia covers companies, investment, trade, technology,
energy, manufacturing and new opportunities across the region.
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Beer Chang, the Thai beer brand, has bought the Norwegian cognac brand, Larsen Cognac. The deal has been agreed between International Beverage, a subsidiary of Thai Beverage Public Company Limited …
Thai Beer Chang buys Norwegian Larsen Cognac Read More
Norway’s $1.4 trillion sovereign wealth fund, is closing its only office in China and moving it to Singapore, the fund said on Thursday, September 7. The Norwegian fund has mentioned …
Norway’s wealth fund closes China office in shift to Singapore Read More
Norwegian offshore wind installation company Fred Olsen Windcarrier (FOWIC) has been awarded a contract with the Japanese sustainable growth company Shimizu for the transportation and installation of monopile foundations for …
Norway and Taiwan in wind farm contract Read More
Norway is ready to cooperate with the Philippines in their emerging offshore wind industry. From 5-6 September 2023, The Royal Norwegian Embassy and British Embassy in Manila held a two-day …
Norway interested in Philippine offshore wind projects Read More
The European manager of Chinese PTL told SVT on Tuesday, September 5, that they are holding discussions with a local party about another factory in Torsboda, Sweden. You Han, the …
Chinese PTL is planning another factory in Sweden Read More
Novo Nordisk has established itself in the medicine market with patents that earn billions. Mainly due to the obesity drug Wegovy and the diabetes medicine Ozempic. Both consists of an …
Approaching patent expiration in China may threaten Novo’s billion-dollar business Read More
Volvo Car is opening a new tech hub and global innovation center in Singapore. The new hub will be a key center for data and analytics, software and advanced manufacturing …
Volvo opens new tech hub in Singapore Read More
Bangkok Airways Public Company Limited (BA) and Singapore Airlines (SIA) has announced a new codesharing partnership. The partnership is set to provide consumers with more travel options between Singapore and …
More travel options due to new partnership between Bangkok Airways and Singapore Airlines Read More
The Swedish-Chinese EV maker, Polestar, plans to release a smartphone in combination with the launch of its first car in China in December. “The phone will only be sold in …
Polestar plans to release smartphone in China Read More
The world-famous Danish brewer Carlsberg now admits to having done business in Myanmar, even though the company earlier has stated, that it had withdrawn from the country. This is written …
Carlsberg admits to lying about Myanmar Read More
Lindström, the Finnish textile manufacturer, has continued its investment in China. The company recently opened a cleanroom laundry for the electronics industry in Tianjin. Tianjin is the seventh largest city …
Finland-based Lindström opens cleanroom laundry in China Read More
Vietnam’s wooden furniture and handicraft exports have shown signs of recovery in the past three months, according to Nguyễn Xuân Truyền, deputy director in charges of sales and marketing at …
Vietnamese wooden furniture and handicraft exports show signs of recovery Read More
Chinese companies are overhauling their counterparts when it comes to generating income from solar, wind, nuclear and other types of renewable energy. The US companies that make up the world-renowned …
China in forefront when it comes to renewables income Read More
The Anglo-Swedish pharma company, AstraZeneca’s Calquence product has been approved in China for the treatment of adults with leukemia. The company stated this on Monday, September 4. The product has …
AstraZeneca’s leukemia product approved in China Read More
The General Department of Customs and Excise of Cambodia (GDCE) reported that imports from China, Vietnam, and Thailand have grown in the first seven months of 2023 as these three …
Cambodia imports from neighboring countries grow Read More
The CEO of Swedish-Swiss multinational robotics firm ABB, Bjorn Rosengren, said he has been “disappointed” by the state of the Chinese market. Rosengren then added, that he had expected conditions …
Swedish ABB is challenged by current situation in China Read More
H&M Group has published an extended Green Finance Framework for the company, with an updated Sustainability-Linked Finance Framework, on September 1, 2023. With the new framework, the fast fashion Group …
H&M Group has published new sustainable framework Read More
Danish pharmaceutical company Novo Nordisk has surpassed LVMH and is now Europe’s most valuable listed company. LVMH, the world’s biggest luxury retailer, is currently suffering due to growing concerns about …
Danish Novo Nordisk surpasses LVMH as Europe’s most valuable company Read More
Northern Lights, a commercial carbon transport and storage company started as a partnership between Norwegian Equinor, British Shell and Thailand’s TotalEnergies, has ordered its third CO2 transport ship from China. …
Northern Lights have made third order for Chinese CO2 transport ship Read More
Indonesia has launched its first locally-made and organic cheese this week, as a result of an international project involving the Danish dairy cooperation, Arla Foods. Artisanal manufacturer Mazaraat Artisan Cheese …
Indonesia in a ‘cheesy’ launch supported by Arla Foods Read More
Swedish-Chinese electric vehicle maker Polestar, founded by Geely and Volvo Cars, posted an operating loss of $274.4 million on Thursday, August 31. This is down from $627.3 million in 2022, …
Swedish-Chinese EV maker Polestar posts operating loss Read More
The Sukhothai Shanghai hotel is presenting a Nordic Autumn Journey in collaboration with Danish homeware collection chain, Kop & Kande. From September 1 till October 29, The Sukhothai Shanghai and …
Go on a Nordic Autumn journey in Shanghai Read More
The Danish toymaker, Lego saw its profits drop 17.7% to 5.5bn Danish kroner (£634m; $807m) in the first half of 2023. Citing the BBC, Niels Christiansen, chief executive officer of …
Lego profits drops in first half of 2023 Read More
China is Denmark’s fourth largest trading partner, so the recent slowdown in the Chinese economy will hit Danish growth, according to calculations from Danmarks Nationalbank. “There are signs that the …
Problems in the Chinese housing sector might influence Danish growth Read More
IKEA has stated, that the Swedish furniture giant plans to invest CNY6.3 billion ($864 million) in the Chinese market over the next three years. The investment is to enhance and …
IKEA to invest millions in China Read More
Seaport industry in the southern part of Vietnam attracts more foreign investors, reported the Vietnam Plus. Ba Ria – Vung Tau province is the location that has attracted the most …
Seaport industry in southern of Vietnam attracts foreign investors Read More
The Finnish telecommunication company Nokia are collaborating with the Japanese brand Nippon Telegraph and Telephone (NTT Ltd.) with the aim of transforming Thailand’s digital scene to a new level. A …
Nokia and NTT bringing 5G wireless private solutions to Thailand Read More
Danish world famous toy brand LEGO tells Bloomberg it plans to open some 100 China stores a year. “It may seem strange to invest in China when the market contracts, …
LEGO in China for the long haul Read More
China’s XPeng is buying out Didi Global’s Smart electric car division. The move will allow them to roll out a new, affordable brand of electric cars. XPeng is set to …
XPeng to launch affordable EVs in China and Norway Read More
Leena-Kaisa Mikkola, Finland’s Ambassador to China has said to China’s People’s Daily Online, that China and Finland are collaborating on several projects to reduce carbon emissions. “In Finland, we have …
Finnish Ambassador expects further cooperation on carbon reduction with China Read More
Danish pharmaceutical company Novo Nordisk has achieved the highest year-on-year revenue growth by sales during the second quarter of 2023 – in comparison to the other 20 top pharmaceutical firms, …
Novo Nordisk in record growth due to obesity and diabetes drug sales Read More
The Finnish fashion house, Marimekko, recently opened a new concept store in Chiang Mai province, the first branch in the Northern part of Thailand. The shop is located on the …
New branch of Marimekko opens in Chiang Mai, Thailand Read More
Swedish EV maker Polestar is targeting China’s premium EV market. Polestar has partnered with Mobileye to incorporate autonomous driving technology into their Polestar 4 model. The technology allows for hands-free, …
Swedish EV company is targeting smart-driving in Chinese market Read More
Swedish telecom company Ericsson has renewed a multi-year deal with Chinese Huawei. Under the agreement, the two firms will pay each other royalties for the use of the other’s patents …
Ericsson renews multi-year deal with Huawei Read More
Advanced Soltech has signed an order with HengAn, the largest producer of sanitary napkins in China. The order is for the installation of a solar power plant of around 3.1 …
Advanced Soltech Sweden AB signs large order in China Read More
After a four month pause, the Cambodian low-cost airline Sky Angkor is back with twice-daily flights from Phnom Penh to the Don Mueang airport in Bangkok from 25 August. The …
Sky Angkor is back with more routes to Bangkok Read More
Thailand’s Ministry of Commerce revealed on Friday, 25 August 2023 that Thai exports had sharply dropped in July, which contracted 6.2% in July from a year earlier, according to Reuters. …
Thai exports drop more than prediction in July Read More
Vietnam’s Central Bank signed an agreement to establish a cross-border payments mechanism between five Southeast Asian (ASEAN) countries including Indonesia, Thailand, Malaysia, Singapore, and the Philippines on Friday, 25 August …
Vietnam agrees to establish cross-border payments between other five ASEAN countries Read More
The Trade Office of Vietnam in Sweden has published a book on the European Green Deal (EGD). The book explains European agreements and their impacts on exporters to the Nordic …
Vietnam trade office in Sweden publishes book Read More
Icelandic technology company Dohop will empower a new interlining agreement between Norse Atlantic Airways and Thai Vietjet. The collaboration is aimed at providing passengers with a wider variety of connections. …
Icelandic Dohop collaborates with Norse Atlantic Airways and Thai Vietjet on partnership Read More
Joakim Karlsson, the CEO of Swedish waste collection company Envac AB, says that the company wishes to collaborate with China on the development of smart and sustainable cities long-term. Karlsson …
Swedish waste collection company commits to long-term cooperation with China Read More
Danish Jewelry brand Pandora has entered into a new collaboration with Disney. Together they have created a new collection that represents some of peoples favorite Marvel characters. Pandora and Marvel …
Pandora x Marvel introduces new charms Read More
“Beijing needs to send a clear message on how it plans to revive its economy and provide clarity on a national security crackdown that is unnerving the foreign business community,” …
China needs to address economic uncertainty says Danish President of European Chamber of Commerce Read More
EV charging company NaaS Technology has announced that it’s going to acquire the Swedish EV charging provider Charge Amps for $66.4 million. The acquisition is a part of the Chinese …
Chinese NaaS Technology acquires Swedish Charge Amps for $66 Million Read More
Swedish telecommunications company Ericsson has announced in a press release on 21 August 2023 that they will open an ‘AI laboratory’ in, Vietnam. The initiative is an extension for the …
Ericsson opens AI lab in Vietnam Read More
DSV Air & Sea Singapore has signed an agreement with Volvo Truck to purchase its first electric truck – a Volvo FL. The truck is set to be delivered in …
Electric Volvo truck is coming to Singapore Read More
Stockholm has reiterated is offer to the Philippine Air Force (PAF) to purchase the Swedish Saab JAS 39 Gripen fighter aircraft, as a response to PAF’s wish of modernizing its …
Sweden offers aircraft to the Philippines – again Read More
The Chinese electric car manufacturer, NIO, has launched its first 3rd-gen power station in Europe. The new battery swap station is located in Stockholm, Sweden. The company also announced a …
Chinese NIO has launched its first European based 3rd-gen power station in Sweden Read More
Swedish fashion retailer, H&M, has announced that the company will gradually stop sourcing from Myanmar. This is as reports of labor abuses in garment factories in the country is increasing. …
H&M will ‘phase out’ sourcing from Myanmar Read More
The Danish meat producer and exporter, Danish Crown, plans to boost its earnings by 1.5 billion DKK annually ($220 million) within two years, the company said on Wednesday, August 16. …
Danish Crown aims to boost earnings after decline in China exports Read More