International Internet Magazine. Baltic States news & analytics
Friday, 04.12.2020, 16:13
Latvian banking assets up 3% in nine months
04.12.2020The aggregate assets of Latvian banks rose 3% in the first nine months of 2020 and stood at EUR 23.906 billion at the end of September, informs LETA, according to the data released by the Finance Latvia Association.
Keyword tags: Banks, Financial Services, Good for Business, Latvia
External support in Estonia to be spent on restarting the economy, innovation
04.12.2020The Estonian government decided on Thursday that in the use of external support, Estonia will base its actions on the principles of restarting and invigorating a human-centered economy and conduct of major innovations, informs LETA/BNS.
Swedbank posted the largest profit among Latvia's banks in 9 months
04.12.2020Five banks in Latvia closed the first nine months of 2020 with losses, with Citadele reporting the biggest nine-month loss, according to the data released by Finance Latvia Association. Swedbank posted the largest profit among Latvia's banks, informs LETA.
Latvia could allocate EUR 742,000 to accommodate persons infected with Covid-19 at hotels
03.12.2020The placement of Covid-19 infected and contact persons in hotels could start around Christmas and the state could allocate EUR 742,000 to this support mechanism, the Minister of Economics Janis Vitenbergs (KPV LV) informed LETA.
Owners of Rietumu Banka and ABLV Bank top Latvia's rich-list
03.12.2020Owners of Rietumu Banka and ABLV Bank, which in the process of liquidation, have topped Latvia's rich-list in 2020, compiled by the business newspaper Dienas Bizness and Lursoft publication Millionaire, cites LETA.
Wage gap between Lithuanian regions narrows in Q3
Average gross monthly wages rose by 3% to 1,603.4 euros in the region of Vilnius and went up by 5.2% to 1,339.3 euros in the rest of Lithuania in the third quarter compared to the second quarter 2020, the country's statistics office said on December 3rd cites LETA/BNS.
Estonian start-up disrupting South Africa's car market raises USD 10m in debt round from Lendable
Planet42, an Estonian car subscription company that helps individuals ignored by banks to get access to a personal vehicle, has announced a 10 mln USD raise from US-based Lendable Inc, an institutional debt investor. To date, Planet 42 has bought and delivered over 2,000 second-hand cars in South Africa, its primary market.
Estonian tech startup Salv raises EUR 1.5 mln
Estonian startup Salv has announced closing a funding round of 1.5 mln euros to expand its anti-money laundering pilot to other European Union countries.
Latvian rail company sees turnover drop 25.6% in January-September
In the first nine months of the year, joint-stock national rail company Latvijas Dzelzcels (LDz) achieved EUR 103.839 million in turnover, which is by 25.6% less than in the same period of the previous year, but the company recovered from last year's loss, posting zero profit for January-September 2020, the company informs for LETA.
Latvian company may face prosecution for giving EUR 2.26 million bribe to Belarusian official
The Corruption Prevention Bureau (KNAB) has asked the Prosecutor General's Office to prosecute a Latvian-registered company for giving a multi-million bribe to a Belarusian state official and tax evasion, informs LETA.
ICT sector accounted for 4.6% of Latvia's GDP in 2019
Last year, the information and communication technology (ICT) sector accounted for 4.6 percent of Latvia's GDP, Signe Balina, president of the Latvian Information and Communication Technology Association (LIKTA), said at the association's conference DIGI->FIT 2020, cites LETA.
Saeima in Latvia adopts budget 2021
Saeima in Latvia today in the final reading adopted the 2021 government budget, providing that expenditure will be at EUR 10.758 billion and revenue at EUR 9.579 billion, reports LETA.
SEB: most listed companies in Baltics in no hurry to hedge financial risks
An analysis of the risk mitigation practices related to the financial markets of listed Baltic companies by SEB revealed that only a few companies on the Baltic Main List pay attention to reducing the risks arising from changes in exchange rates, interest rates and commodity prices, cites LETA/BNS.
Shale oil could create EUR 8.2 bln in Estonian wealth in 20 yrs
According to an analysis commissioned by the Estonian Chemical Industry Association and carried out by KPMG, shale oil production could create 8.2 billion euros of national wealth over the next 20 years, of which 7.5 billion euros would be shared between the sector's partners, the public sector, employees and the public, reports LETA/BNS.
The expenditures on R&D in Estonia rose by 24% in 2019
According to Statistics Estonia, in 2019, the expenditures on research and development (R&D) in Estonia amounted to 453 million euros, which is 24% more than in 2018. The share of R&D expenditures in the gross domestic product was 1.61%, making it the highest share in the last five years.
The Baltics through a “common language” in Interreg 
