International Internet Magazine. Baltic States news & analytics
Friday, 19.09.2014, 04:44
The Competition Council in Lithuania has been authorised to continue applying fines equal to 10% of a company's gross annual income, reports LETA/ELTA.
Keyword tags: Financial Services, Legislation, Lithuania, Markets and Companies
Lithuanian parliament, with 61 members voting in favour, 5 against with 2 abstentions, has adopted the Law on the Bank of Lithuania, which had been returned by President Dalia Grybauskaite for improvement, along with all amendments proposed by the president, informs LETA/ELTA.
According to the Estonian Ministry of Justice Internal Audit Department analysis, the state won in 2013 over 2.5 million euros in court proceedings and lost a little over 136,000 euro, LETA/Public Broadcasting reports.
U.S. fund Ripplewood Holdings has offered to pay EUR 92 million for the Citadele bank, as television news channels reported last night, cites LETA.
The amount of Russia's direct investments in Estonia has increased in the first half of the year 2014, commented economic analysts of four major banks at a debate on Wednesday, LETA/Delfi Ärileht reports.
Natural gas supply and trade company Litgas signed an agreement with bank Swedbank on Wednesday over a LTL 287.73 million (EUR 83.3 million) credit line, reports LETA/ELTA.
The defunct Latvijas Krajbanka’s administrator KPMG Baltics retrieved a total of EUR 892,950 in August 2014, as the report published in Latvijas Vestnesis indicates, cites LETA.
The EU institutions agreed to create a special € 6 billion Youth Employment Initiative (YEI) financial support for those states and regions that experience high youth unemployment and inactivity. The Youth Guarantee is both a structural reform to drastically improve school-to-work transitions and a measure to immediately support jobs for young people. Two Baltic States are eligible to EU funding, i.e. Latvia and Lithuania.
The yet-undisclosed investors who plan to acquire 50% of the Citadele bank's shares are globally acclaimed financiers, Prime Minister Laimdota Straujuma (Unity) said in an interview with the LNT show "900 sekundes", cites LETA.
At the Tuesday cabinet meeting, the Estonian government reached an agreement on next year's state budget revenue and expenditure – the state budget volume is 8.5 billion euros, and the government sector has a 0.8% of GDP structural surplus, reported LETA the government communications unit.
SEB Bank manager Riho Unt was elected the new chairman of the board of the Estonian Banking Association; Unt replaces Andreas Laane, who left the post of head of Nordea Bank in August 2014, LETA/Public Broadcasting reports.
After several hours of debates, the government of Latvia on September 16th accepted the purchase offer from the U.S. fund Ripplewood Holdings for the purchase of Citadele bank, Prime Minister Laimdota Straujuma (Unity) told members of the press, while declining to comment on the conditions of the deal, cites LETA.
Latvian Defense Minister Raimonds Vejonis (Greens/Farmers) announced after a Saeima Defense, Internal Affairs and Corruption Prevention Committee meeting yesterday that the Baltic air-policing mission will cost Latvia EUR 3 million in 2015, informs LETA.
Prosecutor General Darius Valys instructed a senior prosecutor to verify whether a decision made by Vilnius Regional Prosecutor's Office to terminate the case against Bank Snoras bankruptcy administrator Neil Cooper was justified, informs LETA/ELTA.
The compensations for members of the Estonian Riigikogu for their work-related costs amounted to a total of more than 0.5 million euros in the first half of the year 2014; 16 MPs used up their cost compensations almost fully, LETA/Postimees writes.