International Internet Magazine. Baltic States news & analytics
Friday, 27.05.2016, 01:30
Today, the Financial and Capital Market Commission (FCMC) and ABLV Bank, AS entered into the administrative agreement regarding the violations detected under the FCMC inspections, which is aimed at improving the functioning of the bank’s internal control system. According to the agreement, a fine of EUR 3.17 million will be applied to the bank and warning will be given to the responsible member of the bank’s board, reported BC bank’s press service.
Keyword tags: Banks, Financial Services, Latvia, Legislation
New publication by the Latvian Institute of International Affairs assesses new tendencies in Latvia-US relations26.05.2016
Experts, who have authored the new collection of articles on Latvian-US relations, offered by the Latvian Institute of International Affairs, not only highlight both countries’ strategic cooperation on security issues but also call for greater attention to economics and the role of the diaspora. The publication assesses the achievements of the last four years and offers recommendations for the future. The new book will be freely available at the presentation and expert discussion taking place on May 26 at the hotel Bergs, as well as online.
EU Commission tells Lithuania and Latvia to amend laws regulating farmland purchases or face lawsuit26.05.2016
The European Commission has officially demanded that Latvia, Lithuania, Bulgaria, Hungary and Slovakia amend their legislation regulating purchases of agricultural land, arguing that they restrict free movement of capital and the freedom of doing business, warning that it might take the above countries to the Court of Justice of the European Union, informs LETA.
The Foreign Investors' Council in Latvia presented the report on Shadow economy in Latvia from the investor’s viewpoint that will take place on Thursday, 26 May, from 10:00 to 12:00 in Radisson Blu Hotel Latvija.
Dutch investment fund Homburg Eastern European Fund B.V., the owner of Homburg Zolitude company, which was developing a property in the Zolitude area in Riga where a Maxima supermarket used to stand before its roof caved in, killing over 50 people in November 2013, has notified the State Chancellery about an investment dispute that might be referred to the International Centre for Settlement of Investment Disputes, informs LETA.
Latvian wooden furniture export continued to decrease in the first quarter of 2016, when wooden furniture worth EUR 32.8 million was exported from Latvia – down from EUR 34.1 million exported in the first quarter of 2015, informs LETA.
Latvian Fiscal Discipline Council criticizes plan about putting off creation of fiscal security reserve
The suggestions to wait with creation of the fiscal security reserve will bring Latvia closer to a new crisis, the Fiscal Discipline Council warned, cites LETA.