Financial Services

International Internet Magazine. Baltic States news & analytics Sunday, 24.07.2016, 15:45

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Latvian Constitutional Court opens several cases following complaints about solidarity tax

Latvian Constitutional Court opens several cases following complaints about solidarity tax

23.07.2016

The Constitutional Court has opened several cases following complaints questioning whether the so-called solidarity tax is in line with the Constitution, reports LETA.

Keyword tags: Financial Services, Latvia, Taxation



Estonia was net borrower in Q1

Estonia was net borrower in Q1

21.07.2016

The Estonian economy as a whole was a net borrower in the first quarter of 2016 after a two-year interval, Jana Kask, Deputy Head of the Financial Stability Department of Eesti Pank said on Thursday.

Rietumu: after Brexit Latvia could pretend for registering companies from Britain

Rietumu: after Brexit Latvia could pretend for registering companies from Britain

21.07.2016

Currently, the attention of all those who work and conduct business in a united Europe is being paid to the behaviour of British authorities after Brexit. If the country withdraws from the EU, many thousands of companies incorporated in Britain are very likely to leave their legal motherland. And a certain share of this business can be bid for by Latvia.


Additional step towards EU’ genuine capital market union

Additional step towards EU’ genuine capital market union

20.07.2016

European Commission proposed amendments to two funds: European Venture Capital and the European Social Entrepreneurship funds regulations, marking another step towards the creation of the Capital Markets Union.

H1 operating profit of Nordea Bank in Latvia at EUR 18 mln

H1 operating profit of Nordea Bank in Latvia at EUR 18 mln

20.07.2016

The operating profit of Nordea Bank in Latvia in the first half of 2016 was EUR 18 mln, down 8 % from the same period last year, the bank said in a press release, informs LETA.


20.07.2016

Decision on new head of Latvian State Revenue Service to be made next week; Kolegova remains sole candidate

The decision about the new head of the Latvian State Revenue Service is to be made next week; for now Inga Kolegova, Director General of the State Environmental Service, remains the sole candidate to the post, reports LETA.

19.07.2016

New car market expands by 20% in Latvia

During the first six months of this year, registration of new passenger and commercial cars in Latvia increased by 20% against the same period last year, LETA was told at the Auto Association.

18.07.2016

Latvijas Banka issues 2 euro commemorative coin featuring a cow

On Tuesday, 19 July 2016, Latvijas Banka is issuing a 2 euro commemorative coin featuring a cow. The coin is legal tender in the Republic of Latvia and all the euro area countries. Like any other piece of circulation money, this coin will be released to special points of coin sale and other enterprises as well as will become available to the population via commercial banks, BC informs Latvijas Banka.

18.07.2016

Eften acquires Domina shopping center in Riga, Latvia

EfTEN Kinnisvarafond II AS and KanAm Grund Kapitalverwaltungsgesellschaft mbH today announced BC that EfTEN has acquired the Domina Shopping Center from KanAm.

15.07.2016

Gjensidige posts EUR 4.5 mln loss in Baltics for H1

The Norwegian insurance group Gjensidige that acquired the Lithuanian insurer PZU Lietuva at the beginning of the year made a loss of 41.4 mln Norwegian kroner or approximately 4.5 mln euros in the Baltic countries in the first half of 2016, writes LETA/BNS.

14.07.2016

DNB Group's H1 profit in Latvia grows to EUR 22.8 million

DNB group’s net profit in Latvia in the first half of this year was EUR 22.8 million which is 2.8 times more than in the same period in 2015, according to the information from the bank. Operating profit grew 2.4 times year-on-year to EUR 21.3 million in the first half of 2016. The bank said it had achieved the profit growth thanks to increasingly good operating results and the sale of the bank's shares in VISA Europe Limited, said DNB Banka spokeswoman Anita Irbite, cites LETA.

14.07.2016

SEB Group raises H1 profit in Latvia to EUR 34 mln

During the first half of 2016, SEB banking group generated EUR 34.1 mln in Latvian profit, up 90 % from the same period a year ago, the bank informed, LETA reports.

14.07.2016

European Commission proposes paying member countries EUR 10,000 for every refugee they take

In order to encourage relocation of asylum seekers in the European Union, the European Commission has proposed to allocate EUR 10,000 per every relocated asylum seeker, LETA learned from the Commission Representation in Latvia.

13.07.2016

Commission’s support for startups: easing access to finances

European Commission adopted two new “ready-to-use” financial instruments for ESI Funds investments, to ease access to funding for young businesses and urban development project promoters. However, business incentives in the Baltics are still different: 73% in Estonia compared with 39% in Latvia. The Baltic States have to accelerate assistance to SMEs.

12.07.2016

Latvia's leasing portfolio grows 11% in Q1

Latvia's leasing portfolio increased 11 % in the first quarter, amounting to EUR 1.223 bln, according to the Latvian Association of Leasing Providers cites LETA.

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