Financial Services

International Internet Magazine. Baltic States news & analytics Tuesday, 21.05.2019, 18:52

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200,000 EUR fine for insider dealing for exec of Vilnius-listed dairies

200,000 EUR fine for insider dealing for exec of Vilnius-listed dairies

21.05.2019

The Supervision Service of the Bank of Lithuania has concluded that Linas Strėlis, member of the board of AB Vilkyškių pieninė and AUGA group, AB, has used inside information to enter into transactions on the acquisition and sale of shares of AB Žemaitijos pienas. In addition to this, he has involved his family members in such unlawful transactions as well. Therefore, Linas Strėlis has violated the prohibition against the use of inside information, set out in the EU Market Abuse Regulation, informed Bank of Lithuania.

Keyword tags: Banks, Financial Services, Legislation, Lithuania



Latvia's Sonarworks IT company raises EUR 5 mln from international investors

Latvia's Sonarworks IT company raises EUR 5 mln from international investors

21.05.2019

Latvia’s Sonarworks IT company has raised EUR 5 mln for development from Estonian investors Karma Ventures and SuperAngel, Lithuanian investors Practica Capital, Latvian investors ProksCapital and Imprimature, as well as Turkish investor Revo Capital, LETA was told at the company.

Estonia: Holm Bank introduces business loan

Estonia: Holm Bank introduces business loan

21.05.2019

Holm Bank, an Estonian bank established in April, has entered the market with a business loan aimed at small companies, writes LETA/BNS.


Swedbank's pension funds invest EUR 200 mln into sustainable business

Swedbank's pension funds invest EUR 200 mln into sustainable business

20.05.2019

Pension funds managed by the Swedbank financial group are investing 200 million euros, or a sixth of their managed assets, into sustainable business. Swedbank Investiciju Valdymas says the fund's all investments will have to match sustainability criteria in the future, informed LETA/BNS.

Estonia: Profit of Baltic Horizon Fund up 29% on year in Q1

Estonia: Profit of Baltic Horizon Fund up 29% on year in Q1

20.05.2019

The net profit of real estate fund Baltic Horizon Fund totaled 2.17 mln euros in the first quarter of 2019, marking a year-over-year increase of 29%.


20.05.2019

Estonian cbank governor: Closure of Versobank might set precedent in Europe

The closure of Versobank may set a precedent in European practice, Ardo Hansson, governor of the Estonian central bank said at the Lennart Meri Conference in Tallinn on Saturday, citing LETA/BNS.

17.05.2019

The labour market is doing well with low unemployment and increasing employment

Employment increased by 1.7% in the first quarter of 2019, while unemployment was at 4.7%, which is very low. Although a fall in confidence in foreign trading partners indicates the economy may be cooling, this has not yet had any notable impact on the Estonian labour market. The labour force survey shows that employment increased in the service sector and fell in the industrial sector.

17.05.2019

Revolut moves operation launch date in Lithuania

The United Kingdom's fintech startup Revolut has moved the operation launch date of its specialized bank in Lithuania from the first to the second half of this year, Antonia Green, a spokesperson for the company, told LETA/BNS.

17.05.2019

Estonian FSA: Intl cooperation of FSAs has taken on new dimensions

Chairman of the management board of the Estonian Financial Supervision Authority (FSA) Kilvar Kessler in a presentation made in parliament said that the international cooperation of FSAs has taken on new dimensions and drew the attention of MPs to the insufficiency of monetary fines in the finance sector.

17.05.2019

US backs overhaul of Latvian financial sector announced by PM Karins - US Treasury official

The United States supports the reforms in the Latvian financial system announced by Prime Minister Krisjanis Karins’ (New Unity) government, Marshall Billingslea, the Assistant Secretary for Terrorist Financing in the US Department of the Treasury, told the press after a meeting with the Latvian prime minister, informed LETA/BNS.

16.05.2019

EBRD invests 30 mln EUR in Baltic green property fund

EBRD invests EUR30 mln in Usaldusfond EfTEN Real Estate Fund 4. Fund to support investment in sustainable measures across the Baltic states. First property fund in the region to include climate considerations in its investments, informed EBRD.

16.05.2019

Handelsbanken set to close its branches in Baltics

Sweden's Handelsbanken is set to gradually discontinue its operations in the three Baltic countries and will close the branches in Tallinn, Riga and Vilnius, informed LETA/BNS.

15.05.2019

Responsible thinking becomes a building block for competitiveness

Two major political events have marked this year’s spring. In April 2019, the European Banking Authority and the European Banking Federation emphasised the willingness of EU supervisors, regulators and banks to move forward on the various challenges related to sustainable finance and engage in a structured dialogue for incorporating sustainability into EU banks' frameworks and risk management.

15.05.2019

Estonia: Baltic Horizon Fund raises EUR 800,000 in private placement

Baltic Horizon Fund has raised 800,000 euros in a private placement aimed at institutional investors in the Baltic countries, which it plans to use to finance investments into real estate properties.

15.05.2019

FinCEN dissociates itself from FKTK statement regarding harmonization of liquidation strategy for ABLV Bank - U.S. Embassy

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury dissociates itself from a statement issued by Latvia's Financial and Capital Market Commission (FKTK) regarding harmonization of the liquidation strategy for ABLV Bank, as the U.S. Embassy in Riga informed LETA.

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