International Internet Magazine. Baltic States news & analytics
Tuesday, 26.07.2016, 07:31
U.S. investment company Providence Equity Partners (Providence), which is the new owner of Bite mobile operator, has also invested in Latvia's Baltcom TV and Internet services provider, reports LETA.
Keyword tags: Good for Business, Investments, Latvia, Markets and Companies
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
- 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.
- 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.
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.