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