International Internet Magazine. Baltic States news & analytics
Wednesday, 06.05.2015, 06:22
The Palanga bypass public-private partnership (PPP) project has been opened to the public yesterday. The project was among six PPP pilot projects approved by the Lithuanian government in 2009, reported BC chief project manager for PPP Irmantas Butkauskas.
Keyword tags: Construction, Good for Business, Investments, Legislation, Lithuania, Transport
Bentley Systems, a global software supplier that opened its first office in Lithuania ten years ago, is expanding and opening a new office in Kaunas. The opening ceremony for the office, held in the centre of the historical temporary capital, was attended by Evaldas Gustas, Minister of Economy; Visvaldas Matijosaitis, the mayor of the city; Danukas Arlauskas, director of the Lithuanian Business Employers’ Confederation; and other officials and members of academic community, reports BC the Invest Lithuania.
The Estonian government has approved and sent to the Riigikogu amendments to the investment funds law, which enable pension funds to invest more in Estonian businesses, finance ministry announced LETA.
Bankruptcy administrator of BAB Bank Snoras received EUR 760,000 from China Window Capital Ltd, a subsidiary of AB Finasta Holdings that was liquidated in China. After the bankruptcy of Bank Snoras the company did not carry out operational activities and thus was liquidated, informs LETA/ELTA.
On April 29, the American Chamber of Commerce in Latvia together with the Norwegian and Swedish Chambers of Commerce in Latvia, Stockholm School of Economics in Riga and Rietumu banka held a seminar in the AmCham Outlook series to discuss the competitiveness of Latvia and attraction of foreign direct capital, reported BC executive director at AmCham Latvia Liga Smildzina-Bertulsone.
Foreign investors mention instability, shadow economy as main problems limiting Latvia's competitiveness
Foreign investors consider instability and shadow economy the main problems that limit the competitiveness of Latvian economy, as EY Partner Guntars Krols said during a discussion on competitiveness and investment environment of Latvia, reports LETA.
One of the world’s largest insurance companies – American International Group (AIG) – has established a Service Center in Vilnius, Lithuania. As an integral part of AIG’s network covering Europe, Middle East and African markets, the Vilnius AIG center will service insurance policies, manage claims and oversee benefit payouts, reports BC the Invest Lithuania.
Lithuania's Ministry of Finance has signed an agreement with the Council of Europe Development Bank (CEB) for the long-term loan of EUR 100 million to Lithuania to finance public investments in social infrastructure development projects, reports LETA/ELTA.
Nasdaq announced that the bonds of OÜ Finora Capital, an Estonian financing company, will be the first bonds admitted to trading on the First North Bond Market by an Estonian company, reports LETA.
Estonia will invest more funds in 2015 in road construction than last year while the focus is on main highways, those that belong to the international TEN-t roads network, Highways Board deputy director general Kaupo Sirk said, reported LETA/Postimees.
In 2014, Latvijas Dzelzcels (the Latvian Railroad, LDz) financial liabilities increased by EUR 23 million, reaching EUR 145 million, reports LETA.
Norwegian banking and insurance company Storebrand officially launched its brand new training centre in Vilnius. The firm, which has had operations in Lithuania since 2007, has invested around EUR 290,000 in the new 550 square meter centre, reports BC the Invest Lithuania.
The Nordic Investment Bank (NIB) and the Republic of Lithuania have signed a loan agreement, totalling EUR 100 million, with a maturity of 20 years, to improve energy efficiency in public and residential buildings, Lithuania's Ministry of Finance reported BC.
Investment company Bridgepoint, headquartered on London, bought from Swedish companies Ratos and Bonnier the Nordic Cinema Group, which owns, among others, four cinemas in Estonia, LETA/Postimees Online reports.
Experts from the European Social Policy Network published a report, which showed progress made by the some EU member states in implementing reforms toward the modernisation of the social protection systems. However, the states have to activate efforts across the EU in eradicating poverty and supporting people excluded from the labour market.