International Internet Magazine. Baltic States news & analytics
Tuesday, 25.04.2017, 23:15
Lithuania's power transmission system operator Litgrid has earmarked 18.156 mln euros for dividend or 3.6 cents per share after netting 16.828 mln euros in profit last year.
Keyword tags: Energy, Energy Market, Financial Services, Lithuania
In Latvia, families tend to plan their budgets in short term, Evija Kropa, an expert at the Swedbank Institute for Finances, told LETA, citing a survey conducted by the institute.
The biggest auction of art objects and antiquities in Latvia , which is held every spring by the Artembassy auction house in cooperation with Rietumu Bank, will be held on 29 th of April.
Eurocash1, a cash collection and security services group that is indirectly controlled by Vilniaus Prekyba's owners, is expanding its operations in Latvia through the acquisition of CBL Cash Logistics, a subsidiary of Citadele Bank, in a deal whose financial details are not being disclosed, writes LETA/BNS.
Swedbank, one of Lithuania's largest banks, said on Tuesday that its first-quarter net profit jumped by 33% to 29 mln euros, from 22 mln euros a year earlier, writes LETA/BNS.
Lattelecom group earnings for the first quarter of 2017 totaled 44.6 mln euros, while EBITDA reached 16 mln euros. Lattelecom has gown a new business and with tet services it is entering a new sector, the Lattelecom representative told BC,
The Nord Stream 2 project, being pursued by Gazprom, has taken today another important step towards its implementation, responding to the need of the European Union for additional gas imports and thereby improving security of supplies to Europe.
Lithuania's hardboard and hygiene paper production group Grigeo Grigiskes posted revenue of 30.2 mln euros in the first quarter of this year, up by 16%, from 26 mln euros, in January-March of 2016, writes LETA.
Latvia’s SmartLynx Airlines plans to expand its operations to Asia and North America, including Canada, LETA was told at the company.
Russia's Baltijskij Bank has lost a significant stake in Rigas Elektromasinbuves Rupnica (RER) which makes electric equipment for trains, according to the company's statement to Nasdaq Riga stock exchange.
In 2016 the smallest government sector debt in the euro area was recorded in Estonia, where it totaled 9.5% of GDP, Eurostat reports.
The Rail Baltica Global Cost-Benefit Analysis (CBA) presented on April 24 during Rail Baltica Global Forum 2017 confirms that the Rail Baltica project is financially and economically viable. The new study reaffirms the project’s economic feasibility and highly beneficial nature, providing the necessary updated parameters for the project’s continued EU and national co-financing, Rail Baltica Global Forum representatives informed BC.
2016, the general government budget surplus accounted for EUR 3.4 mln or 0.01% of the Gross Domestic Product (GDP), whereas the general government consolidated gross debt amounted to EUR 10 038.3 mln or 40.1 % of the GDP, according to the results of the April 2017 Notification on General Government Budget Deficit and Debt1 compiled by the Central Statistical Bureau (CSB), which has been drawn up in line with the methodology of the European System of Accounts (ESA 2010).
On the 20th of April the Ministry of Health of The Republic of Lithuania signed a 25 year PPP concession contract to design, build and manage the parking infrastructure at Santariskes medical campus in Vilnius. Latuna, a subsidiary of the Lithuanian parking services and management company Unipark, was selected as the preferred bidder for the €14 mln parking infrastructure project, the Invest Lithuania informed BC.
AS Technopolis Ulemiste, developer of the Ulemiste City complex of commercial properties situated between Tallinn's city center and the airport, boosted its net profit 9.2% year over year to 7.1 mln euros and revenue 17% to 12.9 mln euros in 2016, writes LETA/BNS.