International Internet Magazine. Baltic States news & analytics
Thursday, 21.08.2014, 21:00
Estonia's credit strengths are supported by steady economic growth that, demographic constraints notwithstanding, is aided by the country's diversified, albeit small, economy, its moderately high level of affluence and the longer-term prospects for economic convergence with the core euro area, Moody’s Investors Service said in its annual review of the Estonian economy, reports LETA.
Keyword tags: Analytics, Economics, Estonia, Financial Services, Investments, Rating
Businessman Kirovs Lipmans is one of two bidders to buy the defunct joint-stock metallurgical company Liepajas metalurgs that have no longer participate in the negotiations on acquiring Liepajas metalurgs, as Lipmans confirmed to the Nozare.lv business portal, cites LETA.
In the first half of 2014 the assets managed by 2nd pillar pension funds grew by LTL 496.41 million (EUR 143.77 million) and stood at LTL 5.94 billion (EUR 1.72 billion) at the end of June 2014, reports LETA/ELTA.
Lithuanian businessmen have been invited to invest in Belarusian processing companies, head of the main department for foreign economic activity of Belarus Agriculture and Food Ministry Alexei Bogdanov told BelTA after meeting with Lithuanian Minister of Agriculture Virginija Baltraitiene, cites LETA/ELTA.
The government of Latvia yesterday agreed to extend the deadline for submitting the binding offers for Citadele Bank, Prime Minister Laimdota Straujuma (Unity) told the press representatives after the government meeting, informs LETA.
A total of six investors submitted their binding offers for the defunct Liepajas metalurgs, however, discussions are currently continuing with only four of them, Liepajas metalurgs insolvency administrator Haralds Velmers told the press representatives after the government's meeting on Tuesday, informs LETA/Nozare.lv.
Consolidated equity, INVL Baltic Real Estate, the company investing into real estate, was equal to LTL 49.443 million (EUR 14.32 million) or LTL 7.02 (EUR 2.03) per share at the end of the first half of 2014, reports LETA/ELTA, referring to the company’s statement.
One of the world's leading energy management companies Schneider Electric will invest about EUR 10 million into the construction of a new Lexel factory in Latvia, Schneider Electric spokeswoman in Baltics Santa Rutka informed the business portal Nozare.lv, cites LETA.
During an interview with the Latvian State Television show "Rita Panorama" today, Prime Minister Laimdota Straujuma (Unity) declined to comment on the government's decision in regard to selling the Citadele bank, however, she admitted that the prospective investor should come up with an offer by the end of August, and that the final decision could be made in mid-September 2014, informs LETA.
At the invitation of Prime Minister Dr. Laimdota Straujuma, Federal Chancellor of Germany Angela Merkel arrived to Latvia on Monday, August 18, reports BC press secretary to the Prime Minister Dzeina Tamulevica.
The volume of the Estonian semi-obligatory second pillar pension funds, which are funded partly by the state and partly by people, increased at record pace in the first half of the year 2014, LETA/Postimees Online cites the fresh financial market report of the Financial Supervision Authority.
The Latvian social network Ask.fm has been bought by the owners of Tinder and Ask.com for an undisclosed fee, reports LETA, referring to the BBC.
In June 2014, the build-up of the current account balance (CAB) in surplus (LTL 694.8 million, or EUR 201.2 million) was driven by declines in the trade and primary income balances deficits. The positive financial account balance (LTL 627.6 million, or EUR 181.8 million) was due to the large positive flow of net portfolio investment and of the growing official reserve assets, said the Bank of Lithuania in a statement, cites LETA/ELTA.
Jurmala Mayor Gatis Truksnis (Greens and Farmers' Union) is surprised that no one applied for the repeated auction of Kemeri Sanatorium – again, as Truksnis said in an interview with the Latvian Radio, cites LETA.
If the Latvian government does not ensure the financial sector's right to retrieve loans issued to businesses, further lending and attraction of investments may become problematic, CEO of Norvik banka Oliver Bramwell says in an interview with Dienas Bizness, cites LETA.