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Saturday, 01.11.2014, 15:14
The high-tech and intellectual technology manufacturer SIA Hanzas Elektronika has received EUR 4.7 million from Citadele Bank for refinancing purposes, as well as a loan of EUR 1.5 million to develop the company. This will allow Hanzas Elektronika to increase job numbers at its manufacturing facilities in Ogre and Ventspils, as well as to open a new engineering centre in Mārupe, reported BC head of corporate communications at Citadele Baiba Ābelniece.
Keyword tags: Baltic Export, Banks, EU – Baltic States, Good for Business, Investments, Latvia, Technology
During the first eight months of 2014, Latvian forest industry's export increased by 11.3%, reaching EUR 1.359 billion, compared to EUR 1.221 billion in the same period in 2013, according to data provided by the Forest Department of the Ministry of Agriculture.
In the first six months of the year, compared to the same period last year, there has been a reduction in the number of Latvian companies exporting their food or agricultural products to Russia, according to a report released by the Economy Ministry on the consequences of the Russian sanctions, informs LETA/Nozare.lv.
During a meeting with Agriculture Minister Janis Duklavs (Greens/Farmers) yesterday, Turkish Agriculture Minister Mehmet Mehdi Eker said that Turkey could import more Latvian-made food products most affected by the Russian food embargo, informs LETA/Nozare.lv.
Lingerie manufacturer in Latvia and the other Baltic States, the public limited company New Rosme (along with partners) at the beginning of this month opened its first store in Iraq, the spokesperson for the company, Sigita Graudusa, told Nozare.lv, cites LETA.
In his meeting with Lithuanian economic diplomats and representatives of Enterprise Lithuania (Versli Lietiva), Lithuania's Minister of Economy Evaldas Gustas presented the challenges posed to Lithuania by the Russian embargo and urged them not to give in in their search for new export markets for Lithuania's produce, informs LETA/ELTA.
The Ukrainian conflict has caused serious alterations in economy – business activity in Russia is hampered, however, Ukraine still offers excellent business opportunities, Girts Kronbergs, advisor to CEO of the Latvian Chamber of Commerce and Industry (LCCI), Janis Endzins, said in an interview with "Rietumu radio", writes LETA.
Managing Director of OÜ Krimelte Alar Salum said that their enterprise is aspiring to expand the geographic scope of its exports, and is targeting large Asian countries as potential new markets, writes Äripäev.ee/LETA.
Latvia's exports in the first seven months of the year 2014 increased by one% when compared with the same period last year, which is the smallest increase in the EU, according to Eurostat. Meanwhile, Lithuania saw a two% reduction in exports, while Estonia registered a 5% reduction, writes LETA.
Due to the difficult situation that emerged in Estonian dairy industry due to Russia's import embargo, Estonian milk producers call Estonians to drink more milk and launched on Wednesday a new brand "Estonian Milk", LETA/Postimees Online reports.
After being kicked out from the Russian market, Lithuania's food industry has rushed to refocus the directions of its exports and this way will prevent losses. However, as tensions in the East are not easing, industrialists expect some help from the government too, informs LETA/ELTA, referring to Vakaro zinios.
Regardless of the fact that current Latvian-Russian economic relations are troubled by the European Union and Russia's mutual sanctions, they could stabilize soon, reports LETA.
Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in August 2014 amounted to LTL 7.1 billion (EUR 2 billion), imports – LTL 7.3 billion (EUR 2.1 billion).
Provisional data of the Central Statistical Bureau show that in August 2014 compared to the previous month exports value of goods at current prices decreased by 4.4%, and imports value of goods – by 6.3%.
According to Statistics Estonia, in August 2014, exports of goods decreased by 3% and imports by 6% at current prices compared to August of the previous year. The decrease in exports and imports was mostly influenced by the trade of mechanical appliances, electrical equipment and agricultural products and food preparations.