Good for Business

International Internet Magazine. Baltic States news & analytics Monday, 25.07.2016, 12:58

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Fitch Ratings affirms Latvia’s long-term local currency at A-

Fitch Ratings affirms Latvia’s long-term local currency at A-

25.07.2016

International credit rating agency Fitch Ratings has affirmed Latvia’s long-term local currency rating at A-, with a stable outlook, the Latvian Treasury said in a press release.

Keyword tags: Financial Services, Good for Business, Rating



Lithuania's BPO House to do bookkeeping for Norway's Oug

Lithuania's BPO House to do bookkeeping for Norway's Oug

25.07.2016

BPO House, Lithuana's company of rental of business processes with two thirds of its clients being foreign-capital companies, has signed a three-year contract on accounting services with Norway's Oug accounting company, lrytas.lt news portal said, informs LETA/BNS.

Lithuania's Sicor Biotech boosts sales to US in 2015

Lithuania's Sicor Biotech boosts sales to US in 2015

22.07.2016

Lithuania's leading biopharmaceutical manufacturer Sicor Biotech, which is controlled by the international generic drugs producer Teva, posted a net profit of 87.018 mln euros for 2015, more than a two-fold increase from 41.171 mln euros in 2014, reports LETA/BNS.


LNK Properties will invest 7 mln euros in construction of a residential complex in Jurmala

LNK Properties will invest 7 mln euros in construction of a residential complex in Jurmala

22.07.2016

At the end of July, the LNK Properties department of real estate development of the LNK Group holding company will begin construction works within the framework of a new business-class residential project on 10, Jasminu Street in Bulduri, Jurmala. LNK Properties will invest a total of 7 mmln euros in the project, LNK told BC.

Salad dressings help Spilva double H1 exports to Ukraine

Salad dressings help Spilva double H1 exports to Ukraine

21.07.2016

Latvian food company Spilva which belongs to Norway’s Orkla doubled its exports to Ukraine in the first half of this year, exports to the United Kingdom increased 50% and exports to Ireland 17.3%, LETA was told at the company.


21.07.2016

A Startup Wise Guys portfolio company Shipitwise in Estonia hits the 2,5 mln euro valuation

Hassle-free shipping solution startup Shipitwise (Estonia) has successfully closed its Funderbeam campaign, increasing its valuation to 2.5 million euro, only 3 months after graduating from B2B accelerator Startup Wise Guys (SWG) 6th batch last April. Thus Shipitwise joins the club of Vitafields, Investly, coModule, Leaf, sportID and other startups accelerated by SWG and reaching valuations above 2 million euro, informed BC company's press service.

20.07.2016

28 projects worth EUR 312 mln approved for renovation of roads in Latvia

The Latvian Central Finance and Contracting Agency has approved projects for renovation of roads with financing from the EU Cohesion Fund – 13 projects for renovation of main public roads with total value of EUR 183.5 mln and 15 projects for renovation of regional roads with total value of EUR 128.7 mln, the state-owned road maintenance Latvijas Valsts Celi (LVC) told LETA.

20.07.2016

EUR 1.7 mln to be invested in modernization of Sky&More shopping center in Riga

A total of EUR 1.7 mln will be invested in expansion and modernization of Sky&More shopping center in Riga by the end of this year, Sky&More Director Kristine Kopce-Lumane told LETA.

19.07.2016

European Commission grants EUR 50,000 for commercialization of Latvian-made cancer virotherapy medicine in EU markets

The European Commission has awarded a EUR 50,000 grant to Latvian company Latima for commercialization of a cancer virotherapy medicine in the EU markets, informs LETA.

19.07.2016

New car market expands by 20% in Latvia

During the first six months of this year, registration of new passenger and commercial cars in Latvia increased by 20% against the same period last year, LETA was told at the Auto Association.

19.07.2016

49% of Latvian residents expect housing prices to climb

- Nearly half of Latvians, or 49%, expect property prices to rise in the near future, which is by 7% more than a quarter ago, according to SEB Banka's latest Housing Price Indicator.

19.07.2016

Lattelecom raises revenues by 5% in H1

- In the first half of 2016, Latvia's Lattelecom information and communications technology group raised revenues by 5% against the same period last year to EUR 95 mln, the company's unaudited financial results show, writes LETA.

18.07.2016

Adven set to invest EUR 12 mln in Estonia in next 3 years

The energy company Adven Eesti has endorsed an investment plan for 2017-2020 according to which it will invest 12 mln euros over the next three years to switch 13 remote heating areas to biomass fueled heating and overhaul remote heating networks, informs LETA/BNS.

18.07.2016

Balticovo doubles 2015 profit due to high egg prices in export markets

Latvian egg producer Balticovo last year generated EUR 45.9 mln in turnover, up 7 % from 2014, when the company's turnover was EUR 42.8 mln, and showed a profit of EUR 5.6 mln at a more than double growth compared to the 2014 profit of EUR 2.15 mln.

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