Financial Services

International Internet Magazine. Baltic States news & analytics Tuesday, 24.01.2017, 05:02

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Main shareholder in Latvia's Talsu Mezrupnieciba set to make mandatory final buyout offer

Main shareholder in Latvia's Talsu Mezrupnieciba set to make mandatory final buyout offer

23.01.2017

Gatis Staks, the biggest shareholder in the Latvian wood-processing company Talsu Mezrupnieciba, has asked the financial watchdog, the Finance and Capital Market Commission, to approve his mandatory final buyout offer to other shareholders, the watchdog announced on the website of the Central Storage of Regulated Information.

Keyword tags: Financial Services, Latvia, Markets and Companies, Woodwork



Nasdaq calls shareholder e-voting tests based on blockchain technology a success

Nasdaq calls shareholder e-voting tests based on blockchain technology a success

23.01.2017

Nasdaq Baltic has conducted the first successful tests of a blockchain technology based service enabling shareholders of companies listed on Nasdaq Tallinn to vote at a general meeting of shareholders without being physically present at the meeting.

Capital Markets Union, CMU: mid-term review

Capital Markets Union, CMU: mid-term review

23.01.2017

Developing stronger and stable capital markets in the EU and the member states is crucial for the European development. CMU gives businesses access to alternative, more diverse sources of funding. The Commission suggests new CMU’s review, which will assess the optimal ways for free capital movements across borders. Besides, it will increase the European companies’ competitive and investment opportunities.


Ventspils municipality to borrow EUR 435,000 for project of multifunctional innovation center

Ventspils municipality to borrow EUR 435,000 for project of multifunctional innovation center

22.01.2017

The Ventspils city council in northwestern Latvia will borrow EUR 435,000 for the construction project of a multifunctional innovation center, LETA learned from the council.

Latvia’s ABLV Bank plans to issue bonds worth USD 75 mln and EUR 20 mln in late February

Latvia’s ABLV Bank plans to issue bonds worth USD 75 mln and EUR 20 mln in late February

22.01.2017

Latvia’s ABLV Bank in late February plans to issue two-year bonds worth USD 75 mln (EUR 70.3 mln) and two-year bonds worth EUR 20 mln, the bank said in a statement to the Nasdaq Riga stock exchange.


20.01.2017

Baltic Horizon Fund declared approx. EUR 1,4 mln distribution to investors

Northern Horizon Capital AS (the Management Company) as the management company of Baltic Horizon Fund (the Fund) has declared a cash distribution to its unitholders which implies a 2% yield on the Fund’s 2016 Q4 weighted average NAV, Baltic Horizon Fund representative announced BC.

20.01.2017

Latvian Financial Police in cooperation with Lithuanian colleagues break up two VAT fraud rings

The Financial Police under the Latvian State Revenue Service has caught two gangs, who had been operating for nearly two years, causing great losses to the national budget through value-added tax (VAT) fraud, the State Revenue Service said LETA/BNS.

20.01.2017

Estonian government backs three tax policy changes

The Estonian government at Thursday's Cabinet meeting gave its backing to lowering the income tax rate for mature companies, restricting withdrawal of profit from subsidiaries in the form of loans and easing the taxation of and financial reporting rules for self-employed persons, informs LETA/BNS.

20.01.2017

Estonian Harju Elekter stands to make EUR 25.8 mln from sale of PKC shares

f the listed Estonian electrical equipment maker Harju Elekter accepted Indian Motherson Sumi's offer for PKC shares it would earn 25.8 mln euros from the transaction, reports LETA/BNS.

20.01.2017

Low levels of investment activity mean that companies are borrowing less than before

Corporate debt liabilities shrank in the third quarter of 2016 despite the rapid growth in bank loans. Growth in household loans accelerated, but remained slower than growth in incomes and savings. As before, more financial assets were invested abroad or returned there than were taken in from abroad

20.01.2017

In 2015 Latvian household disposable income rose by 7.6%

Results of the survey conducted by the Central Statistical Bureau (CSB) in 2016 show that,compared to 2014, in 2015 household disposable income1 increased by 7.6 %, reaching 417 euros per household member monthly. Compared to the increase recorded in previous years – 9.3% in 2014 and 10.7% in 2013 – the income growth rate has slowed down slightly.

20.01.2017

RAM Funds Have Completed 2016 with Stable Growth

All Rietumu Asset Management (RAM) investment funds have shown positive dynamics over the past year. The highest growth has been demonstrated by the High Yield (+ 15.58%) and Global Equity (+ 15.12%) funds. These are the results published in the December review of the RAM investment funds.

20.01.2017

Anti-corruption service on blockchain. E-Auction 3.0 developer will attend Tallinn

On March 9, 2017, one will present the electronic auction service – e-Auction 3.0 – at Blockchain & Bitcoin Conference in Tallinn. This project has been developed by Ukrainian IT specialists. Its concept is to replace officials for transparent blockchain. It shows conditions, process and results of public property lease and sale auctions.

19.01.2017

What will happen to retirement economy in the Baltic States

The new term "retirement economy", as no other one, characterises realities not only of the modern labour market, but also of the world economy. The adverse demographic situation in the Baltic States allow speaking about the inability of the present retirement system for future pensioners. Besides low birth rate it is necessary to mention substantial out-migration of able-bodied population to other countries with good working opportunities. The adverse demographic situation and labour migration are the basis of pessimism and non-confidence of the population, especially of the youth, in the state retirement system.

19.01.2017

Lithuanian watchdog probes possible abuse of dominant position by Swedbank

The Lithuanian Competition Council (LCC) has launched a probe into whether or not Swedbank, one of the country's biggest banks, has abused a dominant position, reports LETA/BNS.

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