Financial Services

International Internet Magazine. Baltic States news & analytics Friday, 22.11.2019, 18:29

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Latvia: The manufacturing sector is facing a period of challenges

Latvia: The manufacturing sector is facing a period of challenges

21.11.2019

The weakening external demand continues to weigh on the performance of manufacturing, with the fight for export markets becoming increasingly fiercer and the rise in domestic demand also slowing down.

Keyword tags: Analytics, Banks, Financial Services, Industry, Latvia



Timely Opportunity: Gainful and Stable REIT Funds

Timely Opportunity: Gainful and Stable REIT Funds

20.11.2019

In the opinion of many experts, the lasting growth on financial markets seems to be approaching its closing stage. In such a situation, investors traditionally search for alternative options to receive income.

Estonian FinMin working on cryptocurrency regulation

Estonian FinMin working on cryptocurrency regulation

20.11.2019

s part of its plan to introduce cryptocurrency regulation in Estonia, the Ministry of Finance has asked market participants about different options for regulating cryptocurrencies, informed LETA/BNS.


Daily: Russian oligarch Mikhail Abyzov served as Swedbank Estonia's major client for years

Daily: Russian oligarch Mikhail Abyzov served as Swedbank Estonia's major client for years

20.11.2019

Swedbank Estonia catered to Russian oligarch and former minister Mikhail Abyzov for years and over a relatively short period of time, Abyzov brought to the bank 70 offshore accounts with ties to the oligarch that received a total of 860 million US dollars, according to the daily Postimees information writes LETA/BNS.

European Commission finds Latvia's 2020 budget broadly compliant with fiscal requirements

European Commission finds Latvia's 2020 budget broadly compliant with fiscal requirements

20.11.2019

The European Commission has found Latvia's budgetary plans for next year to be "broadly compliant" with the requirements for 2020 under the Stability and Growth Pact, but notes that public expenditure cannot be increased faster because of reduced tax revenue, informed LETA.


20.11.2019

SVT: Swedbank under investigation for violations of US sanctions

Major shareholders in the Russian weapons manufacturer Kalashnikov have sent almost one million euros to its American counterpart, owner of Kalashnikov USA, with the help of Swedbank, while United States and European Union sanctions forbid the companies from doing business with each other, according to the Sveriges Television (SVT) information reports LETA/BNS.

20.11.2019

Lithuanian cabinet to decide on guarantee to back NIB loan to Klaipedos Nafta

The Lithuanian Cabinet is to consider on Wednesday issuing a state guarantee on the Nordic Investment Bank's 135.5-million-euro loan to Klaipedos Nafta that will help spread the costs of operating the Klaipeda liquefied natural gas (LNG) terminal over a longer period of time, informed LETA/BNS.

20.11.2019

Latvia: Customs officers also want higher salaries

Customs officers also want to have their salaries increased, Raimonds Zukuls, head of the State Revenue Service's Customs Board, says in an interview with newspaper Diena, adding that this will reduce the risk of corruption.

19.11.2019

Latvia: Land Fund has acquired 218 properties for EUR 15 mln in ten months

The Land Fund of the Development Financial Institution Altum in the first ten months of this year acquired 218 land properties, spending EUR 15 million in total on these purchases, Altum representatives informed LETA.

19.11.2019

194 customers linked to SEB money laundering suspicion

SEB announced that it has received a list of 194 corporate names concerning potential money laundering from Sveriges Television's (SVT) investigative news program "Uppdrag Granskning" and a majority of the names on the list are historical customer relations from Estonia, informed LETA/BNS.

15.11.2019

Estonian finmin: Money laundering scandals behavioral pattern of Nordic banks

Estonian Minister of Finance Martin Helme emphasized that the money laundering scandals of Nordic banks are not the problem of Baltic countries as the banks' management and principal decisions regarding business strategy were made at the headquarters, not on site, cited LETA/BNS.

15.11.2019

Pre-Auction Exhibition in Rietumu

A pre-auction exhibition of paintings, graphics, applied art and antique works has opened in the exhibition hall of Rietumu Bank.

15.11.2019

SEB contacted by Swedish broadcaster over money laundering in Baltics

Swedish public broadcaster SVT is to air a program on suspected money laundering in the Baltics that would include information concerning SEB, the bank said on Friday. SEB shares plummeted close to 14% to 80 Swedish kronor in early Stockholm trade, informed LETA/BNS.

14.11.2019

The EU institutions support venture capital in the member states: Danish example

The European Investment Bank (EIB) has signed a financing agreement with the Danish national promotional institution (NPI, in Danish –Vækstfonden) to provide support for local SMEs and Mid-Cap companies. The EU and Danish partners will “inject” €75 mln each into a co-investment platform that will target SMEs lacking adequate bank financing.

14.11.2019

Estonia: Option to directly donate overpaid income tax to become available in 2020

The Estonian Tax and Customs Board will enable from 2020 an option to directly donate the overpaid amount of income tax, informed LETA/BNS.

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