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Saturday, 02.07.2016, 06:47
A total of EUR 8.1 million has been invested in reconstruction of the Riga Motor Museum, as the Road Traffic Safety Directorate CEO Andris Lukstins told LETA today.
Keyword tags: Culture, Investments, Latvia, Transport
Lithuania's stevedoring company Bega is planning to invest, over the next three years, 25 million euros in a development program that is expected to increase its annual cargo handling potential by more than one-third to over 10 million tons, the business daily Verslo Zinios reported on Friday, cites LETA/BNS.
The government should consider privatization of the port of Muuga, Estonia's main merchant port east of Tallinn owned by the state-run Port of Tallinn, the transit businessman Endel Siff says, cites LETA/BNS.
On 30 June, 2016 JSC Viešųjų investicijų plėtros agentūra (i.e. Public Investment Development Agency, hereafter – VIPA), organized a meeting informing the stakeholders that on 1 April, 2016, together with organizations from other six members of the European Union (EU), it had joined the BUILD2LC project “Boosting Low Carbon Innovative Building Rehabilitation in European Regions” of the European territorial cooperation programme “Interreg Europe”.
Investors participating in the offering of units of Baltic Horizon Fund, which have been admitted for trading in the Baltic Fund List of Nasdaq Tallinn as of July 6, subscribed to approximately 30 million euros' worth of units, resulting in net proceeds of around 20.5 million euros for the fund, informs LETA/BNS.
Startup Estonia, a support unit for Estonian start-ups under the Development Fund, will continue operation under the state-run financing institution Kredex from the beginning of July with the aim of providing better support to new companies and improving funding opportunities in all phases of development, informs LETA/BNS.
EfTEN Capital’s investment fund EfTEN Real Estate Fund III AS purchased three logistics centres in Estonia, Latvia and Lithuania, owned and occupied by group companies of DSV, one of the largest logistics groups in the world.
New data published by the Central Bank of the Russian Federation show that overseas remittances for real estate purchases are still shrinking. The total volume of transfers was down 30% year-on-year, checking in at just USD 199 million, compared to USD 281 million in Q1 2015. This marks a new low for Russian overseas property investments since records first started in 2009, after just USD 178 million left the country between January and March.
Vostok Emerging Finance (VEF) has invested 3.4 million US dollars (EUR 3.07 mln) in the Lithuanian-owned money transfer company TransferGo, whose key markets include the United Kingdom, which voted last week to leave the European Union, Verslo Zinios reported on June 29th, cites LETA/BNS.
Lithuania's property developer Eika is looking for new investors and is considering setting up a commercial real estate project management company that would possibly float its shares on the stock exchange, Verslo Zinios reported on June 29th, cites LETA/BNS.
Latvia's Food Union dairy group, which comprises dairy companies Rigas Piena Kombinats (RPK), Valmieras Piens and Rigas Piensaimnieks, has started production of a new curds ice-cream Karums, investing more than EUR 120,000 in development and production of the new product, said LETA Normunds Stanevics, the board chairman of RPK.
Financial markets' plunge in the wake of the UK vote to leave the EU is unlikely to have a major direct impact on Lithuania's financial system, but it may have an indirect effect via Scandinavia where the parent banks of the country's biggest commercial banks are based, a central bank analyst said, cites LETA/BNS.
Latvian state-owned Latvijas Dzelzcels railway company will not pay dividends into the state budget from profit in 2015, but will spend its profit on infrastructure investment projects, the government decided on June 28th, cites LETA.
The global capital market turmoil caused by Britain's decision to leave the European Union is unlikely to prompt Lithuanian pension funds to revise their strategies in the near term, the president of the Lithuanian Investment and Pension Funds' Association said on June 27th, cites LETA/BNS.
In a landmark referendum, UK citizens opted to leave the European Union with a lean majority of 51.9% to 48.1% on Thursday, June 24th. The fall out has already hit the markets as the pound plunged to its lowest point in more than three decades. The FTSE 100 shed a historic 8% and £140 billion within minutes of opening on Friday while bank shares like Barclays and RBS plummeted about 30%.