Financial Services

International Internet Magazine. Baltic States news & analytics Sunday, 14.02.2016, 18:55

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Lithuanians have 400,000 credit cards, 3 mln debit cards

Lithuanians have 400,000 credit cards, 3 mln debit cards

12.02.2016

Figures from the Lithuanian Banks' Association show that credit cards are not as widespread in Lithuania as they are in the United States, the business daily Verslo Zinios reported on Friday, cites LETA/BNS.

Keyword tags: Banks, Financial Services, Lithuania, Society



East Capital Explorer to become independent investment company

East Capital Explorer to become independent investment company

12.02.2016

The Nordic investment fund East Capital Explorer is to end its investment contract with the Nordic investment company East Capital and will therefore become an independent investment company, informs LETA/BNS.

Nasdaq Baltic to adopt shareholders' e-voting based on Estonia's platform

Nasdaq Baltic to adopt shareholders' e-voting based on Estonia's platform

12.02.2016

Nasdaq and the Republic of Estonia have announced that Estonia's e-residency platform will be facilitating a blockchain-based e-voting service to allow shareholders of companies listed on Nasdaq's Tallinn stock exchange, Estonia's only regulated securities market, to vote in shareholder meetings without being physically present, informs LETA/BNS.


Ventspils Nafta holding to reduce share capital to EUR 1 mln

Ventspils Nafta holding to reduce share capital to EUR 1 mln

12.02.2016

Ventspils Nafta holding will reduce its share capital from EUR 146.3 million to EUR 1 million, informs LETA, according to the company's statement in Latvijas Vestnesis official newspaper.

Lithuania's current account deficit at 2.5% of GDP in 2015

Lithuania's current account deficit at 2.5% of GDP in 2015

12.02.2016

Lithuania recorded a current account deficit of 934.2 million euros for 2015, which accounted for 2.5% of GDP for the year, the central bank (LIetuvos bankas) said on Friday, cites LETA/BNS.

12.02.2016

Vainamere Liinid appeals ruling in false information lawsuit

Vainamere Liinid on February 11th appealed the January decision of the Harju county court according to which former Minister of Economic Affairs Urve Palo did not submit false information about the 2014 ferry tender in saying that an offer by Vainamere Liinid was by 60 million euros more expensive than a rival offer by a subsidiary of the state-owned company Port of Tallinn, which won the tender, informs LETA/BNS.

12.02.2016

Budget of Estonia's centenary events to total EUR 24 mln

The government's funding for the various projects and events to be organized as part of the celebration of the 100th anniversary of the Republic of Estonia will amount to 24 million euros, it appears from the budget endorsed by the government committee in charge of the EV100 events on Thursday, reports LETA/BNS.

12.02.2016

Riga Court slaps fines on defendants in Jurmala bribery scandal during repeated trial

The Riga City Kurzeme District Court on February 11th during a repeated trial slapped sizable fines on two defendants in a scandalous case about bribery in the Jurmala local council back in 2010, informs LETA.

12.02.2016

Financial watchdog approves voluntary takeover bid for Latvijas balzams

The Latvian financial watchdog, the Financial and Capital Market Commission (FCMC), has given its permission to Amber Beverage Group, the largest shareholder in Latvijas balzams alcoholic beverage maker, to make a voluntary takeover bid for Latvijas balzams shares, reports LETA.

11.02.2016

Complete EU financial market (MiFID) is postponed until January 2018

The Commission has proposed a one year extension to the entry into application of the revised Markets in Financial Instruments Directive, or MiFID II.

11.02.2016

SMEs as a driving force for national economy

Small and medium-sized enterprises that are largely young, innovative, internationally-active and run by skilled managers are driving significant job growth across the European Union. EU agency, Eurofound highlights that SMEs were responsible for over 70% of employment growth in the non-financial business economy in 2014. Besides, there is an urgent need for further SMEs support if a rigorous recovery would be realised.

11.02.2016

Peters Putnins appointed head of Financial and Capital Market Commission in Latvia

Latvian Saeima today appointed Peters Putnins as the head of the Finance and Capital Market Commission (FCMC), informs LETA.

11.02.2016

Maxima in Lithuania rolling out mobile payment technology

Some of the cash registers installed by Lithuania’s largest supermarket chain Maxima support contactless payments already but the technology will not be put into use thus far, the Verslo Zinios business daily reports on February 11th, informs LETA/BNS.

11.02.2016

Lithuania’s insurance market increased by 7% in 2015

Lithuania’s insurance market, which grew by more than 7% in 2015, should maintain a similar growth pace this year, supported by the recovery of the private sector, the central Bank of Lithuania forecasts, cites LETA/BNS.

11.02.2016

Insurance companies in Latvia see premiums growth 7% in 2015

In 2015, insurance companies in Latvia raised their premiums by 7% from a year ago to EUR 373 million, the Latvian Insurers Association reported LETA.

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