International Internet Magazine. Baltic States news & analytics
Thursday, 05.12.2013, 08:18
Agreement on Directive improving rules for collective investment funds reached during Lithuania's Presidency in EU04.12.2013
EU Permanent Representative Committee (COREPER II) on December 4 in Brussels has confirmed the Member States agreement on the Directive amending the current legislation on the harmonised functioning of collective investment funds and aiming at strengthening investors confidence, reports LETA/ELTA, referring to eu2013.lt.
Keyword tags: EU – Baltic States, Investments, Legislation, Lithuania
Latvian Association of Civil Engineers is demanding that the coming into force of the new Construction Law be put on hold until the law and related documents are completely in order, the association says in a letter sent to the top state officials of Latvia, informs LETA/Nozare.lv.
At several meetings and conferences within the framework of Eastern Partnership (Vilnius, Lithuania, 28 November 2013), European Commissioner for enlargement and neighbourhood policy and the Commission’s President reviewed the present state-of-art in enlargement as well as underlined challenges and perspectives.
Estonian real estate developer Arco Vara's subsidiary Arco Investeeringute has sold its 50-% share in the joint venture and owner of Ahtri 3 land plot Arco HCE to Ahtrimaa, the other 50-% shareholder of the joint venture, informs LETA.
The NASDAQ OMX Tallinn stock market continued to be at standstill for the fourth month in a row in November 2013, the stock index OMXT fell by 0.07% in a month, LETA/Postimees Online reports.
On Thursday, the British Chamber of Commerce in Lithuania presented a new direction of activities, which also involves active cooperation with the state FDI promotion agency Invest Lithuania, informs LETA/ELTA.
Latvenergo Group is currently the largest electricity supplier in the Baltics. In nine months of 2013 the revenue of the Group increased by 6%, reaching LVL 576.7 million (EUR 820.6 million), while net profit is LVL 23.1 million (EUR 32.9 million). In the third quarter of 2013, the second power unit of TEC-2 was commissioned, informs press secretary of Latvenergo Ivita Bidere.
Electricity distribution network operator's LESTO group earned profit for the three consecutive quarters – group's net profit amounted to LTL 42.27 million (EUR 12.2 million), while during the same period of 2012 group net loss made up LTL 24.91 million (EUR 7.2 million), informs LETA/ELTA.
Lithuania's Prime Minister Algirdas Butkevicius met with President of the European Investment Bank Werner Hoyer, informs LETA/ELTA.
A third of enterprises in Parnu County in Estonia are planning to be more active on export markets in 2014, and about two thirds are also planning to invest, as indicated in the survey “Parnu County Business Barometer 2014” conducted among SEB’s business clients, reports LETA, referring to SEB.
Fitch Ratings affirmed Estonia's City of Tallinn's long-term foreign and local currency ratings at "A" with a "stable outlook", LETA/Public Broadcasting reports.
The World Bank, in a report on port governance, suggests that Latvia dispel the concern about transparency in port operations, tighten port heads' responsibility, increase port income, improve their investment policies and logistical networks, informs LETA/Nozare.lv.
In 2013, increase of domestic demand in Lithuania – private consumption and investment – is more rapid than it was expected, and it compensates decreasing influence of export; therefore, the Bank of Lithuania adheres to the previous GDP growth projections, the Bank of Lithuania said in a statement, cites LETA.
Yesterday in Bucharest, Latvian Foreign Minister Edgars Rinkevics took part in the meeting of heads of government of China and the Central and Eastern Europe countries (China-CEEC) and in a business forum which addressed the possibilities for expanding cooperation between these European countries and China, the Foreign Ministry informed LETA/Nozare.lv.
EU Ministers for Cohesion Policy discussed innovations designed at improving the effectiveness of investments by the European Structural and Investment Funds (hereinafter – ESI funds) during an Informal Meeting yesterday in Vilnius, informs LETA/ELTA, referring to eu20113.lt.