International Internet Magazine. Baltic States news & analytics
Saturday, 06.02.2016, 00:11
Lithuania this month ranks 81st in the world in terms of gold holdings, one notch down from number 80 last month, informs LETA/BNS, according to the latest figures from the World Gold Council. Latvia is ranked 79th.
Keyword tags: Baltic, Financial Services, Investments, Markets and Companies
The Estonian bank of the Norwegian financial services group DNB has posted a net profit of 3.4 million euros for the year 2015 while the group's total net profit was 2.6 billion euros, informs LETA/BNS.
After the national airline airBaltic receives German investor Ralf-Dieter Montag-Girmes and government's investments, its value will be around EUR 260 million, regardless of the airline's negative equity at the moment, Prudentia's CEO Karlis Krastins told LETA.
German businessman Ralf Dieter Montag-Girmes, the investor in Latvia's national carrier airBaltic, has promised to make the planned investment of EUR 52 million in the airline by the end of March 2016, the investor said in a press briefing yesterday, cites LETA.
The European Commission expects the Estonian economy to grow 2.1% in 2016 and 2.3% the next year, it appears from the newly-released winter 2016 economic forecast. Economic growth in Latvia is estimated to have picked up to 2.7% in 2015 supported by better-than-expected investment and construction volumes, informs LETA/BNS.
Today an agreement was signed between the Latvian government and Ralf-Dieter Montag-Girmes. Under the deal, a total of EUR 132 million of fresh capital will be invested in the Latvian carrier for fleet modernisation and its new Horizon 2021 business plan, informed BC Janis Vanags.
Sakret LT, the Lithuanian subsidiary of the Latvian dry construction mixes producer Sakret Holdings, is a bright example of successful economic cooperation between Latvia and Lithuania, said Latvian Ambassador to Lithuania Einars Semanis, cites LETA/BNS.
Latvijas Maiznieks bread producer is set to purchase a ciabatta and white bread production line for EUR 2.98 million, informs LETA, according to information posted on the Procurement Monitoring Bureau's website.
A total of 7.98 billion euros of revenue was paid into the Estonian state budget during 2015, 171.3 million euros more than the year before, and tax revenue was bigger by 483.1 million euros or 7.3%, the Finance Ministry said on February 3rd, informs LETA/BNS.
The first industrial 3D printing technology center for small-scale production of plastic products in the Baltics has been opened in Riga, representatives of Baltic3D.eu company told LETA.
The Capital Markets Union (CMU) aims to break down the barriers that are blocking cross-border investments in the EU and preventing businesses from getting access to finance. The current situation is being quite tough for businesses that remain heavily reliant on banks and relatively less on capital markets.
Covered bonds are a part of the Commission’s broader efforts to build a single market for capital in the EU. The capital market union (CMU) goal is to help money flow throughout the EU to where it's most productive. It's to connect savings effectively to growth, to channel investment to projects which need financing, to give all companies a greater choice of funding, and to increase the options for people saving for the long term.
Vol. 3 Financial services through EU’s policies and legislation. The publication is inspired by the active European Commission’s integration plan that was adopted in mid-2014. Although “the plan” was shaped as a political guidance, it has held an overwhelming “agenda for jobs, growth, fairness and democratic change”.
A fund managed by investment management firm Lords LB Asset Management is set to acquire Comfort Hotel LT, a hotel in Vilnius, from Norway’s fund Selvaag Eastern European Development, reports LETA/BNS.
The Latvian Investment and Development Agency might be involved in attracting an investor for airBaltic national carrier, the government agency's head Andris Ozols said in an interview with Latvian Television on February 2nd, reports LETA.