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Thursday, 02.10.2014, 09:23
The information leak about the sale of the Citadele bank reduced the bank's price by EUR 7 million, Economy Minister Vjaceslavs Dombrovskis (Reform Party/Unity) told the press representatives after a government meeting on Tuesday, cites LETA/Nozare.lv.
Keyword tags: Banks, EU – Baltic States, Financial Services, Investments, Latvia, Legislation, USA
Ripplewood Holdings would like resell the Citadele bank in up to one year, whereas the government wants to set the term at five years, Prime Minister Laimdota Straujuma (Unity) told the LNT channel this morning, informs LETA.
Latvian real estate management company Jurmalas namsaimnieks will be bought by Lithuania-registered Busto valda for EUR 2,959,461 – the starting price of the auction at which Jurmala company was sold, informs LETA.
A price increase is expected in the apartment segment in which the market price now is close to EUR 250,000, while in the apartment segment covering the price range around EUR 150,000, there is expected a price decline, believes Arco Real Estate board member Maris Laukalejs, reports LETA/Nozare.lv.
Today, Harmony submitted to Saeima a petition claiming that the sale of the Citadele bank be halted; the petition has been signed by more than 10,300 citizens, informs LETA.
The coalition has decided not to support All for Latvia!-For Fatherland and Freedom/LNNK's (VL-TB/LNNK) proposal to amend the Immigration Law in order to suspend issuing of temporary residence permits to citizens of Russia who buy real estate in Latvia, informs LETA.
The total price of Citadele bank shares is EUR 98.67 million, Prime Minister Laimdota Straujuma (Unity) said in an interview with the Latvian Television show "Rita panorama" this morning, reports LETA.
Lithuanian Minister of Economy Evaldas Gustas who paid a working visit to Japan noted that Lithuanian representatives intend to participate in Foodex Japan 2015 exhibition and proposed to organise business missions to Lithuania for representatives of the Japanese food sector, informs LETA/ELTA.
Citadele Bank could shun the non-resident deposit business in favor of small-business loans, Jean-Marc Peterschmitt, managing director for Eastern Europe at the European Bank for Reconstruction and Development, which owns a 25% stake in Citadele, told the Bloomberg news agency, cites LETA.
The Maxima store chain planning to open up to 20 stores in Estonia over the next three years and thinks that the current and future stores give the company the opportunity to become the retail market leader in Estonia by 2016, said Chief Executive Officer of Maxima Eesti Vaidotas Pacesa, Äripäev.ee/LETA reports.
Yesterday, about 300 people gathered for a rally organized by the Harmony political party at the Dome Square to protest against the sale of Citadele bank, LETA observed.
The government could sell its Citadele bank shares for EUR 74 million, according to a copy of the U.S. fund Ripplewood Holdings offer posted on portal Pietiek.com, reports LETA/Nozare.lv.
Latvian companies' actual amount of losses caused by Russia's sanctions is much larger, Director of Investment and Development Agency of Latvia, Andris Ozols told the press representatives yesterday, cites LETA/Nozare.lv.
Lithuania has a proven track record in PPP’s, ranking 1st in Eastern Europe for the comprehensiveness of its PPP regulatory framework. Invest Lithuania intends to build on that experience going forward, reports BC the press service of Invest Lithuania.
Kozlovskis: without funding for Security Police, issuing of residence permits should be suspended in Latvia
If the Security Police do not receive additional funding, issuing of temporary residence permits should be suspended, believes Minister of Interior Rihards Kozlovskis (Unity).