Banks

International Internet Magazine. Baltic States news & analytics Thursday, 13.12.2018, 10:53

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ithuania's Orion Securities in talks to buy unnamed Western European bank

ithuania's Orion Securities in talks to buy unnamed Western European bank

13.12.2018

Lithuania's financial company Orion Securities is in talks on the acquisition of an unnamed Western European bank, according the Vz.lt news website reported LETA/BNS.

Keyword tags: Banks, EU – Baltic States, Financial Services, Good for Business, Lithuania



Fintech start-up Revolut gets specialized bank license in Lithuania

Fintech start-up Revolut gets specialized bank license in Lithuania

13.12.2018

UK-based financial technology startup Revolut has obtained a specialized bank license in Lithuania that will allow it, among other things, to provide loans and accept deposits, reported LETA/BNS.


Elisa receives EUR 100 mln loan to develop 5G grid in Estonia, Finland

Elisa receives EUR 100 mln loan to develop 5G grid in Estonia, Finland

12.12.2018

The Finnish telecommunications company Elisa has taken a loan amounting to 100 million euros from the Nordic Investment Bank to develop its 5G networks in Finland and in Estonia, reported LETA/BNS.

Lithuanian insurance market: lower prices and higher consumer protection

Lithuanian insurance market: lower prices and higher consumer protection

11.12.2018

In the third quarter of 2018, prices of compulsory motor third party liability insurance scaled down, while the entire insurance market grew by 13%. Having come into force in October, significant amendments have strengthened consumer protection within the insurance market.


11.12.2018

Inflation has passed its peak

Consumer price inflation in Estonia in November was 3.4%. It hit a peak of 4.4% in October and has shown signs of coming down over several months. The rate of inflation fell primarily because crude oil prices fell on global markets, which meant that the rate of rise in prices for motor fuels came down over the month from 20% to 9%.

11.12.2018

Negative trade balance has led to the largest quarterly current account deficit seen over the past years

Following a build-up of the current account surplus driven by robust expansion of exports in the first half of the year, the trade balance shifted downside sharply in the third quarter. It was the deficit of the balance of trade in goods that was at fault. The above deficit grew rapidly and reached a high since the end of 2013. Overall, the current account deficit amounted to 444.4 million euro or 5.7% of gross domestic product (GDP) in the third quarter of 2018.

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