International Internet Magazine. Baltic States news & analytics
Wednesday, 29.07.2015, 05:32
The innovative fund-of-funds investment initiative – the Baltic Innovation Fund (BIF), dedicated to boosting equity investments made into Baltic enterprises, launched by Lithuania, Latvia and Estonia and the European Investment Fund (EIF), has been increased., informs LETA/ELTA.
Keyword tags: Baltic, Good for Business, Innovations, Investments, Markets and Companies, Technology
The Lithuanian subsidiary of the Polish oil company PKN Orlen – Orlen Lietuva, has been able to increase its productions capacity in the second quarter of the year 2015 to 86%, but in June the company's production capacity reached 92%, the company informed LETA.
Baltic e-commerce group Pigu reached turnover of EUR 50 million in 2014, with an increase of 31% compared to 2013, when the turnover was EUR 38,2 million, Roberts Ziminskis, representative of Pigu, told LETA.
In the first six months of the year 2015, Swedbank in Latvia operated with EUR 57 million in profit, the bank has informed. For Swedbank Lithuania profit for the first six months of 2015 amounted to EUR 36.2 million and Swedbank Estonia announced that its loss for the first six months of 2015 amounted to EUR 20.9 million, writes LETA.
Nordea Baltic reported of earning an operating profit of 54 million euros in the first half-year of 2015. The total income increased by 9% compared to the same period last year, while total commission income has increased by 18%, writes LETA.
Analysis of processed registrations’ data performed by AV Automotive Research/AutoTyrimai, based on source data obtained from Regitra (Lithuania), CSDD (Latvia) and Maanteeamet (Estonia), shows that new light-vehicle (M1&N1) registrations in the Baltic States increased by 8.9% to 16’475 units in II quarter 2015, reported BC AutoTyrimai press service.
In the first half of the year 2015, SEB Group in Latvia earned EUR 18 million (after taxes and provisions), which is 27% more than in the first six months of 2014. SEB Pank's operating profit rose in Estonia from SEK 353 million to SEK 386 million; in euros the increase was 5% – from EUR 39 million to EUR 41 million and the unaudited net profit earned by AB SEB Bankas is EUR 36.9 million and by AB SEB Bankas Group is EUR 32.7 million in Lithuania, reports LETA/ELTA.