International Internet Magazine. Baltic States news & analytics
Friday, 24.05.2013, 01:14
The US company Kinze Manufacturing, Inc. is opening its first production plant abroad in Lithuania, the company said in a statement. The facility will manufacture Kinze row crop planters, contributing to its growing market in neighboring countries including Russia, Ukraine, Czech Republic, Bulgaria and Hungary, informs LETA.
Keyword tags: EU – Baltic States, Good for Business, Investments, Lithuania, Markets and Companies, USA
Darius Sulnis was elected to the position of the president of the public joint – stock company INVALDA from May 23, 2013. Darius Sulnis is replacing Dalius Kaziunas, former president of the Company. INVALDA, AB was led by Dalius Kaziunas since January 1, 2012, informs LETA/ELTA.
Latvia is interested in closer economic cooperation with Kuwait, therefore it is necessary to develop mutual cooperation between Latvian and Kuwaiti businessmen, Economy Minister Daniels Pavluts emphasized after a meeting with Kuwaiti MPs yesterday, informs LETA.
On Wednesday, Lithuania’s Prime Minister Algirdas Butkevičius met with European Commissioner for Climate Action Connie Hedegaard. The Prime Minister welcomed a constructive cooperation between the European Commission and the Lithuanian Government, and discussed policy priorities for climate change with the Commissioner, reported BC governmental press service.
If the government does not bring about the replacement of Liepajas metalurgs’s board and Prudentia Advisers, and the company's creditors continue to hold on to their "rosy and unjustified vision" of the company's takeover, Latvia will face not only Liepajas metalurgs’s insolvency, but also a nationwide social crisis, points out one of the company's shareholders, Kirovs Lipmans, writes LETA/Nozare.lv.
The Nordic Investment Bank (NIB) and Latvia's state railway company VAS Latvijas dzelzcels have signed a new loan totalling EUR 17 million for the upgrade of a railway section in the country's east-west transport corridor, informs Nordic Investment Bank.
Bicevskis: purchase of Latvijas Biznesa Banka indicates appreciation of banking sector's professionalism
The purchase of Latvijas Biznesa Banka (Latvian Business Bank, LBB) indicates that the Latvian financial sector, banking experience, employee professionalism are still trusted and highly appreciated, believes Association of Commercial Banks of Latvia President Martins Bicevskis, informs LETA/Nozare.lv.
Russian Financier Andrey Vdovin, one of the co-owners of the VMHY Group, has purchased 100% of Latvijas Biznesa Banka (Latvian Business Bank) shares, informs LETA/Nozare.lv.
The government yesterday decided to grant a tax break of LVL 7.25 million to Latvijas Mobilais telefons (LMT) for the development of the 4G mobile telephony network in the less-populated areas of Latvia in which the company plans to invest LVL 29.01 million, informs LETA.
The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) together with its subsidiary, The Bank of Tokyo-Mitsubishi UFJ (Poland) S.A. (BTMUP) signed an agreement on cooperation with Invest Lithuania on May 8, 2013, informs LETA/ELTA.
After yesterday’s Cabinet meeting, Latvian Economy Minister Daniels Pavluts told members of the press that if Liepajas metalurgs shareholders ignore the demands set by the company's club of lenders, almost all hope will be lost to resume production and the company's insolvency scenario will be inevitable, informs LETA/Nozare.lv.
The shareholders at the joint-stock metallurgical company Liepajas metalurgs must either sell their shares or invest large amounts of money into the company by May 31.
Cytec Industries, a global specialty materials and chemicals company present in more than 40 countries, launched their Global Business Services (GBS) in Riga on May 14th. Since the establishment of their Shared Services Center in Riga in 2010, Cytec has made several enhancements to the operations conducted there, promoting a gradual change from an operational center to a dynamic office focused on process improvement and business excellence.
Representatives from companies searching for oil deposits in Latvian territorial waters said after a meeting with President Andris Berzins at the House of the Blackheads yesterday that they were optimistic and hopeful, informs LETA.
The Estonian Supreme Court Criminal College decided not to change the conviction of prominent Estonian businessman Toomas Tool and former SEB Pank broker Karoly Kirber for bourse manipulation, LETA/Public Broadcasting reported on Monday.