International Internet Magazine. Baltic States news & analytics
Saturday, 05.09.2015, 06:43
Latvian bank Trasta komercbanka is looking for an investor to boost capital and help revamp its unprofitable operations, the Bloomberg news agency reports, cites LETA.
Keyword tags: Baltic States – CIS, Banks, Financial Services, Investments, Latvia
Lithuania's National Audit Office has completed the 2014 financial (regularity) audit of the State Treasury, a system managed by the Ministry of Finance that includes the state financial resources, their management, control and accountability, informs LETA.
Swedbank, ABLV Bank and Rietumu banka were the most profitable banks in Latvia in the first six months pf 2015, reports LETA.
Money previously meant for ''World Expo'' to be allocated for Latvia's participation in European Space Agency04.09.2015
The EUR 1.34 million funding originally intended for Latvia's participation at the "World Expo 2015" trade fair, will be spent on the country's participation in the European Space Agency instead, Latvian Saeima approved on September 3rd, reports LETA.
Latvia's current account deficit increased to EUR 148.3 million or 2.4% of gross domestic product in the second quarter of 2015, reports LETA.
The European Central Bank revises down the growth outlook for the 19-member eurozone amid a slump in demand from the world's leading emerging economies, notably China, reports DPA/LETA.
Estonian Prime Minister Taavi Rõivas said at the Thursday government press conference that in the Port of Tallinn bribery scandal, there is no evidence about the money being connected to political parties, LETA/Delfi reports.
According to Statistics Estonia, in the 2nd quarter of 2015, the total profit of the business sector was 724 million euros, which was 15% less than in the same period a year ago.
Estonian consumer loans issuer Bigbank reported of strong results in the second quarter of the year 2015, Äripäev.ee/LETA reports.
EUR 17 million will be spent on creating a border-zone on the border with Russia as well as building fences in some areas, State Border Guard spokeswoman Jevgenija Poznaka told LETA.
The number of life insurance contracts concluded in Estonia in the first half of this year increased by 8% as compared to the same period of 2014, LETA/Delfi Ärileht reports.
Corruption Prevention Bureau has possibly asked to launch criminal prosecution against Slesers and Lembergs
The Corruption Prevention Bureau in Latvia has possibly asked the Prosecutor General's Office to start criminal prosecution against ex-politician Ainars Slesers and Ventspils Mayor Aivars Lembergs, both implicated in the so-called "oligarch affair", reports LETA.
During the first half of 2015, Citadele Group's profit in Latvia reached EUR 14.9 million, which is a 3% increase compared to H1, 2014. "Private investors' becoming part of the bank's shareholder structure marked the beginning of a new development phase for Citadele. This year is notable for investments in the bank's development," comments Guntis Belavskis, CEO of Citadele banka.
Lower tax rates and prices lifted real wage income, Estonia's central bank Eesti Pank said in its comments to Estonia's second quarter average wage growth data, reports LETA.
Estonia's state-owned energy giant Eesti Energia made on September 1st the owners of its bonds that have repurchase deadlines in 2018 and 2020 a repurchase bid and plans to finance the transaction with a new long-term bond issue, the company announced LETA.