International Internet Magazine. Baltic States news & analytics
Friday, 26.08.2016, 00:55
Arnis Riekstins, a co-owner of the Mikrotikls company, earned EUR 30.15 mln last year becoming the top earner in Latvia in 2015, according to a list of Latvia's biggest earners, losers, and dividend recipients last year, compiled by Lursoft, business magazine Kapitals, and journalists Lato Lapsa and Kristine Jancevska.
Keyword tags: Banks, Business, Financial Services, Industry, Latvia, Markets and Companies, Medicine, Rating, Technology, Telecomunications
While the new joint unit for Baltic banking of Nordea and DNB will increase competition on the Estonian retail market, risks of the Latvian and Lithuanian banking market will have a greater impact on the financial stability of Estonia in the future, the Bank of Estonia said on Thursday, reports LETA/BNS.
The organizations of Baltic venture capitalists will gather in the southwest Estonian sea resort Parnu on Friday to establish an association of venture capitalists of the three countries aimed at promoting cooperation and marketing the Baltic region as a whole, according Eesti Paevaleht information said LETA/BNS.
The trust that Estonian citizens have in the major public institutions remains high, with Estonians giving higher scores to the trustworthiness of the legal system, the government and the European Union than citizens of EU member states on the average, reports LETA/BNS.
Borrowers in Latvia have become more knowledgeable and responsible, taking their time to study interest rates and sometimes spending several weeks to consider loan offers before actually taking a consumer loan, according to a survey carried out by DNB Banka.
The Vilnius municipality intends to borrow up to 50 mln euros from the European Investment Bank (EIB) for refinancing earlier loans and investment projects, Mayor Remigijus Simasius told BNS/LETA.
Latvian banks issued EUR 217.1 mln in mortgage loans to households in January-June, which is 71% more than in the first half of 2015, BC informs Association of Latvian Commercial Banks` representative.
The tax revenue growth rate in Latvia has slowed down this year compared to 2015, Kaspars Abolins, the head of the Treasury, said on the morning news program of the LNT on Tuesday, cites LETA.
A New Zealand investor suffered from a raider attack made by the official authorities of the Republic of Kazakhstan
The Republic of Kazakhstan is one of specific countries of the Central Asian region. On the one hand, one can witness social reforms, democracy, tolerance, support to financial sector and private business on the background of almost absence of organized crime, on the other hand, there is a strict power vertical basing on relative relationship, favoritism and leading, as a result, to corruption of officials and power structures. The New Zealand company Warehouse Logistic Investment Group Limited got under this “Kazakh corruption roller”, having invested several million EUR into a business development. The details follow below.
During the first six months this year, the Financial Police Department of the State Revenue Service forwarded 30 criminal cases to the prosecutor's office for launching criminal prosecution, according to the Revenue Service's results for the first six months of 2016, writes LETA.
Austria's Vienna Insurance Group (VIG), one of the biggest European insurers, has been cleared to buy Latvia's BTA Baltic Insurance Company (BTA), however, will have to sell international carrier insurance in exchange, reports LETA/BNS.
Kaarel Ots, who took over as manager of Nasdaq Tallinn a week ago, says it looks like things are finally beginning to move when it comes to listing stocks and bonds of Estonian state-owned companies on the securities market, reporst LETA/BNS according to Eesti Paevaleht.
The credit information company Krediidiinfo AS and 13 lenders active in Estonia are about to establish a liabilities registry, or so-called positive credit reporting registry, that creditors can use to assess the credit standing of their potential clients, informs LETA/BNS.
In Latvia, people take loans mostly to purchase cars and renovate or refurbish their homes, according to a survey conducted by DNB Banka. Other commonplace purposes for borrowing money include paying for medical services, education and travel, and also debt repayment.
After Deutsche Bank at the beginning of July stopped providing the dollar clearing service to Estonia's LHV, the bank has been offering smaller euro-to-dollar payments to U.S. bank accounts via payment processes such as Transferwise, but is still looking for a clearing partner, LETA/BNS reports according to Bloomberg information.