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The MIKON flagship program in the Fram Centre is using both social and environmental sciences to examine how High North industrial development will affect the natural world, regional societies like the Sami and economic activity.

On the backdrop of political chill, trade between Finland and Russia is falling sharply. Also tourism between the countries is in a downswing.

Iron-ore miner in Kirkenes has secured finances for another three months period, but warns about closure after June if situation doesn’t improve.

A stronger exchange rate for the ruble has brought more Russian customers back to shops in Finland. Some local retailers have reported a sharp rise in sales in recent weeks.

Government’s Pension Fund Global has bond investments worth NOK 89 million and owns shares worth NOK 1,13bn in Sberbank and NOK 2bn in VTB Bank.

The Government Pension Fund Global is now worth more than 7.000 billion kroner (€796 billion). If divided on the 5,2 million Norwegians, each one would have 1,35 million. That is five times the annual net income of a Swede.

The development of the Murmansk Transport Hub might be in jeopardy as costs swell and a key private investor seeks way out of the project.

Europe’s third-biggest low-cost airline Norwegian Air Shuttle is facing its biggest crises as a strike by pilots grounded almost all of its domestic flights in Norway, Sweden and Denmark since Wednesday.

Russia’s northernmost coal-producing region in 2014 experienced hardship and decline.

Russia’s closest neighbour to Norway, the municipality of Pechenga, has started reindeer husbandry on the Rybachy Peninsula, and plans to open a base for tourists.

Vladimir Potanin, CEO of Norilsk Nickel has become Russia’s wealthiest businessman with an estimated fortune of $15.4 billion.

This February the hotels of Rovaniemi, Lapland have been full to the brim with customers. Usually this many people stay in hotels in the northern city only during the Christmas season, but this year the tourist boom will continue into March at least.

Local waters are full of the delicacy. But none of it reaches the local population.

Russian regions feel the pain as the country’s economy spirals into depression. In Murmansk Oblast, the governor cuts her budget with 25 percent.

Some 75,500 accommodation nights for Russians were registered in the past December.