International Internet Magazine. Baltic States news & analyticsThursday, 02.09.2010, 22:53
Invalda profit totals 13.43 mln litas in H1
01.09.2010Lithuania-based investment company Invalda during six months of 2010 earned consolidated profit before taxes in amount of 13.43 million litas, Invalda reports to NASDAQ OMX Vilnius.
Keyword tags: Financial Services, Investments, Lithuania
Dzintars hopes to capture U.S. market with exclusive cosmetics
01.09.2010The Latvian cosmetics producer Dzintars hopes to capture the United States (U.S.) market with exclusive cosmetics in the future, said Mihails Gercikovs, pharmacist and head of export projects of Dzintars, in an interview with the business portal Nozare.lv.
"McDonald's" to open fast food restaurant at the "Alfa" mall in Riga
01.09.2010On Friday, September 3, "McDonald's" will open a new fast food restaurant at the "Alfa" shopping mall in Riga, as well as holding a press conference to announce its plans for further expansion in Latvia next year.
Citadele Eastern European balanced fund – best balanced fund in 2010
01.09.2010Citadele Eastern European Balanced Fund named as the Best Balanced Fund 2010 in the recent survey on the best Central and Eastern European funds performed by European business journal Business New Europe. Citadele Eastern European Balanced Fund has brought the highest return (24,26%) among other funds with similar investment strategy being examined in the performed survey, informed BC Indra Zinkeviča, head of corporate communications at Citadele banka.
Estonian Development Fund, Regio and Raivo Vare invest into Inner Circle
01.09.2010Estonian entrepreneur Allan Martinson's latest startup Inner Circle has apparently closed its first seed investment round just few days ago with a software developer Regio and Estonian Development Board being among investors, LETA/Testmarket.eu reports.
Elering’s investments will increase the price of electricity in 2011
Electricity price will be increased in Estonia in 2011 as the main grid company Elering intends to invest 7 billion kroons in four years, LETA/Eesti Päevaeht Online reports.
Economy Minister Kampars invites Czech businesspeople to invest in Latvia
Economy Minister Artis Kampars (New Era) today opened a Czech Republic-Latvia business forum in Prague, inviting Czech businesspeople to enter into cooperation with Latvian businesspeople and invest in Latvia, the business portal Nozare.lv was informed by the Economy Ministry.
Estonian businessman Teder opens the biggest shopping centre in Ukraine
Estonian businessman Hillar Teder opened on Friday festively Ukraine’s largest shopping centre Dneprovskaja Pristan ZAO in central Kiev, LETA/Postimees Online reports.
OMX changing its plans on the Baltic common market
In 2009 Nasdaq OMX announced plans to create a common euro-based trading facility for shares on the three Baltic stock markets; however, the enterprise has corrected the intentions and will implement the plan in another form, writes Äripäev.ee/LETA. According to initial plans, the common market was to be launched this summer.
In 2010 TEO will invest into development of the fiber-optic network 96 mln litas
TEO LT, the largest provider of integrated telecommunication, IT and TV services in Lithuania, will invest about 96 million litas in deployment of its next-generation fiber-optic network in 2010. The company's investments will already this year enable the availability of FTTH (Fiber to the Home) Internet services to approximately half of the country's population, TEO LT reports to NASDAQ OMX Vilnius.
Parex bank's minority shareholders to dispute the sale of Parex lizings in court
Joint-stock Parex banka’s minority shareholders – investment funds "Firebird Republics SPV", "Amber Trust" and "DCF Fund", have sent a request to the bank's council yesterday to begin legal proceedings against the bank's board in regard to the sale of one of its subsidiary companies in Belarus – Parex lizings.
Azubalis encouraged the ambassadors actively to attract investors and to work with Lithuanian businesses
On 25 August in Vilnius, during the annual convention of the heads of Lithuania’s diplomatic representations, Minister of Foreign Affairs Audronius Ažubalis encouraged the ambassadors to take the initiative in searching for potential investors from the countries of their representation, and in inviting Lithuanian businesses to look for export opportunities and partners, reported BC press service of the Foreign Ministry.
A specific action was established in Latvia for attraction of large foreign investments
On Wednesday, August 25, the Coordination Council for Large and Strategically Important Investment Projects chaired by Prime Minister Valdis Dombrovskis assembled for its first meeting. During the first meeting, the participants obtained a comprehensive and reasoned information from the representatives of the Latvian Investment and Development Agency on the current situation in the area of investment attraction in Latvia and, comparatively, in the Baltic countries, as well as on the problems which hinder the inflow of large investments in Latvia, as well as agreed on the future course of action and activities of the Council to significantly activate the attraction of large investment projects to Latvia.
PM Dombrovskis and Ambassador of Denmark discussed cooperation between the Baltic and Nordic countries
On Wednesday, August 25, Prime Minister Valdis Dombrovskis met Uffe Otto Wolffhechel, Ambassador of Denmark to Latvia within the framework of his farewell visit. During the meeting, the sides discussed the economic situation in Latvia, bilateral cooperation, as well as cooperation between the Baltic and Nordic countries, informed BC deputy head of communication department at State Chancellery Laine Kučinska.
Green light to euro evened out deposit interest rates in Estonia in July
In July 2010, the volume of deposits in Estonian banks decreased as the final green light given to Estonia to adopt the euro made banks even out deposit interest rates of kroon and euro loans and thus reduced the wish of people to keep money in term and savings deposit accounts, Bank of Estonia said in its comments.
Updating the Nordic-Baltic cooperation 
