Financial Services

International Internet Magazine. Baltic States news & analytics Thursday, 21.08.2014, 22:59

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Moody’s: Estonia's credit strength supported by steady economic growth

Moody’s: Estonia's credit strength supported by steady economic growth

21.08.2014

Estonia's credit strengths are supported by steady economic growth that, demographic constraints notwithstanding, is aided by the country's diversified, albeit small, economy, its moderately high level of affluence and the longer-term prospects for economic convergence with the core euro area, Moody’s Investors Service said in its annual review of the Estonian economy, reports LETA.

Keyword tags: Analytics, Economics, Estonia, Financial Services, Investments, Rating



ABLV Bank audited profit EUR 32.9 mln in H1

ABLV Bank audited profit EUR 32.9 mln in H1

21.08.2014

ABLV Bank audited profit in the first six months of 2014, was EUR 32.9 million, according to a report posted by NASDAX OMX Riga, cites LETA.

Russia reveals huge cost of Western food ban

Russia reveals huge cost of Western food ban

21.08.2014

Russian Agriculture Minister Nikolai Fyodorov warned Wednesday that Moscow must spend billions of dollars in the coming years subsidizing farmers in order to avoid a shortage caused by its ban on most Western food, reports AFP/LETA.


Pohjola Bank issues EUR 13 mln loan to Riga Airport Passenger Terminal

Pohjola Bank issues EUR 13 mln loan to Riga Airport Passenger Terminal

21.08.2014

The Finnish Pohjola Bank subsidiary in Latvia has signed an agreement with Riga International Airport for a EUR 13 million loan to expand the airport's passenger terminal, informs LETA.

Lithuanian producers may lose EUR 145 mln because of Russian embargo

Lithuanian producers may lose EUR 145 mln because of Russian embargo

21.08.2014

According to the calculations of Lithuanian Agriculture Minister Virginija Baltraitiene, losses of Lithuanian dairy and meat producers may possibly amount to LTL 500 million (EUR 145 million), because of food product embargo imposed by Russia, reports LETA/ELTA.

21.08.2014

Lithuania will receive euro banknotes from Central Bank of Germany

The Bank of Lithuania (Lietuvos Bankas) signed an agreement with the German central bank, Bundesbank, regarding the acquisition of euro banknotes in all denominations. In seeking to satisfy the demand for euro banknotes and to ensure their necessary stocks during the euro adoption, 132 million units of euro banknotes will be brought in to Lithuania; their weight — 114 tonnes, reported BC press serce of Lietuvos Bankas.

21.08.2014

Assets of pension fund participants in Lithuania nearing EUR 1.7 bln in H1

In the first half of 2014 the assets managed by 2nd pillar pension funds grew by LTL 496.41 million (EUR 143.77 million) and stood at LTL 5.94 billion (EUR 1.72 billion) at the end of June 2014, reports LETA/ELTA.

21.08.2014

Lithuania's dairy, meat producers will not be partially compensated losses from the state

The Government of Lithuania has not approved the proposal to use budget funds to partially compensate dairy and meat producers' losses arising due to Russian embargo, informs LETA/ELTA.

21.08.2014

Latvian Audit Office promises to make public "shocking results" after inspecting municipalities

Latvian State Audit Office staff say that it intends to release the "shocking financial audit results" on six municipalities in about two months, Auditor General Elita Krumina said in an interview on the Latvian Radio show "Krustpunkta" yesterday, informs LETA.

21.08.2014

Riga Shipyard shareholders Melniks and Remars-Riga fined EUR 14,200 each

The Financial and Capital Market Commission has completed a probe into suspected harmonization of actions taken by the joint-stock company Rigas kugu buvetava (Riga Shipyard, RKB) shareholders, and ordered the company's shareholders – Vasilijs Melniks and joint-stock company Remars-Riga – to pay the maximum applicable fine of EUR 14,200 each for making no mandatory share redemption offer to the other shareholders in the company, informs LETA.

21.08.2014

36 paintings owned by Krajbanka sold at auction to one person

Ongoing bankruptcy proceedings for Latvijas Krajbanka (LK) include auctioning 36 paintings the bank had in its ownership, informs LETA.

20.08.2014

EUR 158 mln to be spent on air-surveillance and anti-aircraft capabilities in 8 years in Latvia

EUR 158 million that the government allotted to improve air-surveillance and anti-aircraft capabilities in Latvia, will be spent in a period of eight years in Latvia, the Defense Ministry's press service informed LETA.

20.08.2014

Lithuania considering to partially compensate dairy, meat producers for losses

The Government of Lithuania will consider to partially compensate dairy and meat producers for losses, informs LETA/ELTA.

20.08.2014

Deadline extended for submitting binding offers for Citadele bank

The government of Latvia yesterday agreed to extend the deadline for submitting the binding offers for Citadele Bank, Prime Minister Laimdota Straujuma (Unity) told the press representatives after the government meeting, informs LETA.

20.08.2014

DNB banka issues EUR 10 mln loan for Latraps development

The cooperative society of agricultural services Latraps has come up with new development plans. In order for them to see fruition, DNB banka has issued a EUR 10 million loan to Latraps, DNB banka spokeswoman Teika Lapsa informed the business portal Nozare.lv, cites LETA.

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