International Internet Magazine. Baltic States news & analytics
Saturday, 20.12.2014, 17:45
On December 18, in Brussels, the Heads of State and Government called for immediate establishment of the European Fund for Strategic Investments to fund growth of Europe, and for reaching an agreement on the most important tasks during Latvia's Presidency. Latvia has set a priority – to develop competitive, digital and engaged Europe, reported BC press secretary to the Prime Minister Aiva Rozenberga.
Keyword tags: Baltic States – CIS, EU – Baltic States, Investments, Legislation, Markets and Companies, Technology
On 18 December 2014, the Lithuanian electricity transmission system operator Litgrid and European Investment Bank (EIB) signed an agreement on EUR 65 million loan for a maximum period of sixteen years, reported BC press service of Litgrid.
Lithuanian President Dalia Grybauskaite is attending a European Council meeting. The focus of the meeting is on the economic situation in the European Union and measures to foster economic growth and investments, reported BC the presidential press service.
Estonian Finance Minister Maris Lauri signed a loan agreement, according to which the European Investment Bank (EIB) will give the Estonian state a 200 million euro loan, LETA/Postimees Online reports.
Infare, the flight data collection, delivery and analysis company, is expanding its operations in Lithuania. The Danish company, which opened offices in Vilnius in 2011, already has half of its total workforce based there and plans to increase this number to 30, reports LETA/ELTA, referring to Invest Lithuania.
A Public Private Partnership (PPP) to reconstruct the A14 Vilnius-Utena highway will be submitted to the Lithuanian Parliament for approval in spring 2015. The project will be the largest ever PPP project in the road sector in Lithuania, reported BC chief project manager at Invest Lithuania Irmantas Butkauskas.
The first “research call” to European scientists attracted 3273 applications, 10% of which were successful. Among the grantees, 143 are in the domain 'Physical Sciences and Engineering', 124 in 'Life Sciences' and 61 in 'Social Sciences and Humanities'. The awarded €485 million contributes to supporting a new generation of top scientists in Europe.
Lithuania's Minister of Foreign Affairs Linas Linkevicius participated in the General Affairs Council on 16 December in Brussels. The Council examined draft conclusions for the European Council meeting to be held on 18-19 December, including European Commission President Jean-Claude Juncker's initiative of mobilising 315 billion euro of investment in the EU, reported BC the MFA.
European lawmakers have come to agreement on the 2015 European Union (EU) budget – the spending forecast for 2015 is EUR 141.2 billion, which is 1.6 percent more than in 2014, the European People's Party (EPP) Group spokesman Girts Salmgriezis informed LETA.
Lithuania is open for investment and its market is growing and reliable, said Lithuanian Prime Minister Algirdas Butkevicius, attending a Summit of Heads of Government of China and Central and Eastern European countries (China+16) in Belgrade, Serbia, cites LETA/ELTA.
In view of expected investments from countries outside the EU, the Capital Requirements Regulation No 575/2013 sets out certain rules to entities in third countries, which financial institutions can benefit from more favorable treatment. The rules through the Implementing Act will enter into force on 1 January 2015; thus, 3rd countries’ investments will be equivalent to rules applied in the EU.
The EfTEN Real Estate Fund announced that it expanded its Latvia’s real estate portfolio by acquiring in auction A class office building in Lāčplēša street 20A, reports LETA.
Estonian President, Toomas Hendrik Ilves, opened the Aquaphor water filter plant in Narva yesterday, which is the largest and most modern of its kind in Estonia and in Europe in general, reported BC presidential press service.
The Lithuanian Government has approved amendments to rules for the development and implementation of public private partnership projects (PPPs), reports BC deputy director at Investuok Lietuva (Invest Lithuania) Jonas Kimontas.
In October 2014, the build-up of the current account balance (CAB) in surplus (LTL 292.7 million, or EUR 84.8 million) was driven by an increase in the balance of services deficit, as well as the decreasing, but still in surplus, balances of secondary income and capital account, reports LETA/ELTA.