International Internet Magazine. Baltic States news & analytics
Monday, 01.06.2020, 04:48
Citadele posts EUR 7.5 mln loss for Q1
29.05.2020Citadele Bank sustained a loss of EUR 7.5 million in the first quarter of 2020, LETA was told at the bank.
Keyword tags: Banks, Deposits, Financial Services, Latvia
European rescue plan and solidarity
28.05.2020The new financial supplement to the rescue plan with €750 bn and a long-term €1.1 trillion for 2021-27 will be discussed on 19 June. It seems that nationalism dominates over solidarity, as differences in approaches are to large...
Lithuania’s government approves 'child money' proposal
28.05.2020The Lithuanian government on Wednesday approved a proposal to provide additional support to families with children, which was put forward by President Gitanas Nauseda in a bid to aid households during the coronavirus pandemic and to stimulate the economy through consumption, informs LETA/BNS.
Competition Council brought 13 cartels to a close over past 5 years in Latvia
28.05.2020Over the past five years, the Competition Council brought thirteen cartels involving 64 companies to a close, imposing a total of EUR 3.5 million in fines, the Competition Council in Latvia informed LETA.
State must continue to offer support to residents to curb increase in unemployment - Rutkaste
28.05.2020The state must continue to provide support to residents in order to limit the rapid growth in unemployment, Uldis Rutkaste, head of the Monetary Policy Department of the Bank of Latvia, said in an interview with Latvian Radio on Thursday.
Rietumu banka net profit is EUR 6,9 mln in Q1 2020
According to the statement, the bank's net profit in January-March has reached EUR 6.9 mln. Assets of the bank amount to EUR 1.5 bn, deposits of customers are EUR 1.2 bn and the shareholders’ equity is EUR 285 mln.
The average after-tax monthly salary rose to 822.1 euros in Lithuania
The average pre-tax monthly salary rose by 8.8% in Lithuania last year to 1,296 euros, writes LETA/BNS, according to the latest figures released by the country's statistics office, Statistics Lithuania, on May 27th.
In Q1, average monthly gross wage in Estonia made 1,404 euros
According to Statistics Estonia, in the 1st quarter of 2020, the average monthly gross wages and salaries were 1,404 euros, which is 4.8% higher than the year before. In quarterly comparison, the increase is the most modest in recent years.
Estonian fashion brand Estie eyeing EUR 300,000 in crowdfunding campaign
Estonian fashion brand Estie OU is planning to raise up to 300,000 euros via a campaign launched on the crowdfunding platform Fundwise, reported LETA/BNS.
Tallinn endorses 2019 financial report
The Tallinn city government on May 27th approved the city's consolidated financial report for 2019, informs LETA/BNS.
New joint application for CEF funding for electricity infrastructure, made by transmission system operators from the Baltic States and Poland
Transmission system operators from the Baltic States and Poland today submitted a joint application for funding from the Connecting Europe Facility (CEF). Together, Litgrid (Lithuania), Augstsprieguma tīkls (Latvia), Elering AS (Estonia) and PSE (Poland) are requesting financial support for the so called second stage of the Synchronization – including construction of the interconnector Harmony Link, synchronous condensers, national grids' reinforcement, and upgrade of IT control systems, all of which will facilitate connecting Baltic States with the Continental European Network.
Very small enterprises get EUR 53 mln in state assistance in Lithuania
Very small Lithuanian enterprises with up to nine employees have been paid out over 53 million euros in state assistance, half of the planned amount, the country's Economy and Innovation Ministry says, cites LETA/BNS.
Estonia to issue 10-year bonds worth EUR 1 bln
The Estonian government is about to kick off an international offering of bonds worth at least one billion euros and with a maturity of 10 years, informs LETA/BNS.
Tallinna Sadam signs EUR 20 mln unsecured loan agreement with SEB
Listed Estonian port company AS Tallinna Sadam has signed an unsecured loan agreement with AS SEB Pank for a total amount of up to 20 million euros with a maturity of five years, informs LETA/BNS.
The ministry plans to fuel Latvia's economics with EUR 2.2 bln
A strategy worked out by the Economics Ministry for dealing with the aftermath of the Covid-19 crisis proposes providing EUR 2.2 billion worth of public and private investments to various infrastructure projects a year until 2023.
EU and the Baltics: assisting in crisis 
