International Internet Magazine. Baltic States news & analytics
Saturday, 27.08.2016, 07:37
While the new joint unit for Baltic banking of Nordea and DNB will increase competition on the Estonian retail market, risks of the Latvian and Lithuanian banking market will have a greater impact on the financial stability of Estonia in the future, the Bank of Estonia said on Thursday, reports LETA/BNS.
Keyword tags: Analytics, Baltic, Banks, Cooperation, Estonia, Financial Services
The organizations of Baltic venture capitalists will gather in the southwest Estonian sea resort Parnu on Friday to establish an association of venture capitalists of the three countries aimed at promoting cooperation and marketing the Baltic region as a whole, according Eesti Paevaleht information said LETA/BNS.
Estonian law firm Aivar Pilv Law Office together with Latvian law firm Fogels, Vītols & Paipa and Lithuanian law firm Balčiūnas & Grajauskas founded a new pan-Baltic alliance LEADELL that brings together nearly 50 legal advisors, informe BC LEADELL representative.
Nordea, the biggest financial group in the Nordic and the Baltic countries, and Norway's DNB bank have agreed to combine their operations in Lithuania, Latvia and Estonia, the banks said. The agreement is yet to be endorsed by institutions supervising banking operations and competition, with completion of the process expected in the second quarter of 2017, reports LETA.
Cooperation with Latvia will continue, Tim Colley, Chargé d’Affaires a.i. of the British Embassy in Latvia, said during the working visit to the Liepaja port city in south-western Latvian, reports LETA.
Latvian state-owned rail company Latvijas Dzelzcels (Latvian Railways, LDz) has reached a cooperation agreement with Russia's leading freight railway operator Freight One, LDz spokeswoman Linda Hakima informed.
The Chinese e-commerce company Alibaba Group is interested in shipping its goods to Northern Europe using Latvia as a transit point, Latvian Investment and Development Agency representatives said at a meeting of Latvian Ports, Transit and Logistics Council today, reports LETA.