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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.

“It is more important for us to sell quality and unique experiences than cheap products for mass tourism,” says Kåre Tannvik, adventure developer with Kirkenes Snowhotel. Weak ruble and krone will not alone boost tourism to Russia and Norway.

Like the Russian ruble, the Norwegian krone is diving with falling oil-prices. Down more than 4 percent on Tuesday to parity with the Swedish krone.

Barents entrepreneurship expert Heidi Andreassen believes trade and investments across the borders in the north are in jeopardy as Russia’s ruble is tumbling again in what seems like a market in panic.

Russia’s central bank announces Tuesday a 6,5 percent rise in interest rates to 17 percent in a move to defend a ruble that Monday lost nearly 10 percent per dollar to 64,4.

This screenshot of flightradar24 taken Sunday morning shows how airplanes from Great Britain are queuing up for landing at Rovaniemi, Ivalo and Kittilä airports. 80 aircrafts brought in 15,000 passengers this weekend.

Northern lights and midnight sun give North Norway two main seasons for tourism. By the end of the year, the region will have had nearly 3.3 million overnight stays.

No more more Russian ships will be built abroad, Deputy PM Dmitry Rogozin says, adding that a wave of new orders now will be placed in Russian yards.

Iron ore miners all over the Barents Region are troubled by drop in prices. Northland Resources outside Pajala in northern Sweden field for bankruptcy Monday morning.

Russia’s Ministry of Economic Development has revised down its economic growth forecast for 2015 and warns that the economy will fall into recession as Western sanctions and falling oil prices begin to bite.

A Rosatom own mining company will start production of lead and zinc ores on the southern part of Novaya Zemlya where the Soviet Union made seven giant underground nuclear explosions.

This unique dairy barns is designed for Arctic conditions. Farmers of northern Norway and Russia’s Arkhangelsk region are now teaming up for cooperation.

Aquaculture company «Russian Salmon» complains to the President against plans of establishment of a 15 million tons oil reloading plant close to their fish cages.

It’s about to get much more expensive to live in Arctic Russia. Bankers and economists are predicting a black day on the Russian market saying the ruble is set to take another tumble - the biggest single day fall since 1998.