International Internet Magazine. Baltic States news & analytics
Wednesday, 11.12.2013, 18:19
Latvia has managed to achieve considerable economic recovery and, even though several macroeconomic risks remain, the introduction of the euro will mark a new era in Latvia, according to the most recent Moody's Analytics forecast, informs LETA.
Keyword tags: Analytics, EU – Baltic States, Financial Services, Investments, Latvia, Rating
Johannes Hahn, Commissioner responsible for the European Regional Policy underlined that the EU cohesion policy represents both the member states and foreign states’ investment opportunity. For the first time the Commission introduced strict conditions that the member states and regions must meet before funds can be spent. The approach is called a targeted investment for growth.
Ukrainian investors have opened up a new beer restaurant called Stargorod in Riga on Republikas Square 1 in downtown opposite the Riga Passenger Port, the restaurant's representative Jelena Lucanska confirmed to the business information portal Nozare.lv, writes LETA.
The Estonian state plans to enter the risk capital market via the state-owned Kredex foundation and invest 60 mln euros in start-up companies, LETA/Postimees reports.
Dairy company Limbazu piens, which suspended operations ten months ago, has been acquired by foreign investors who have restored the company's operations, Limbazu piens Director Evalds Putnins informed Nozare.lv, cites LETA.
Morningstar, Inc., the international investment research company, has awarded its highest five-star rating to the Citadele Russian Equity Fund, managed by Citadele Asset Management, a subsidiary of Citadele Bank, based in Riga, Latvia, informs BC Zane Udrase, head of corporate communications at Citadele.
Lithuanian company Audimas, manufacturer of sportswear and leisure clothing, has decided to return to the Latvian market. It opens its first shop in Domina shopping centre in Riga, informs LETA/ELTA.
For the year 2014, Estonian enterprises forecast turnover growth and moderate success on export markets – although investment and innovation activity leave something to be desired, the survey 'Business Barometer 2014', conducted among SEB's business clients, indicated, cites LETA.
Agreement on Directive improving rules for collective investment funds reached during Lithuania's Presidency in EU
EU Permanent Representative Committee (COREPER II) on December 4 in Brussels has confirmed the Member States agreement on the Directive amending the current legislation on the harmonised functioning of collective investment funds and aiming at strengthening investors confidence, reports LETA/ELTA, referring to eu2013.lt.
Latvian Association of Civil Engineers is demanding that the coming into force of the new Construction Law be put on hold until the law and related documents are completely in order, the association says in a letter sent to the top state officials of Latvia, informs LETA/Nozare.lv.
At several meetings and conferences within the framework of Eastern Partnership (Vilnius, Lithuania, 28 November 2013), European Commissioner for enlargement and neighbourhood policy and the Commission’s President reviewed the present state-of-art in enlargement as well as underlined challenges and perspectives.
Estonian real estate developer Arco Vara's subsidiary Arco Investeeringute has sold its 50-% share in the joint venture and owner of Ahtri 3 land plot Arco HCE to Ahtrimaa, the other 50-% shareholder of the joint venture, informs LETA.
The NASDAQ OMX Tallinn stock market continued to be at standstill for the fourth month in a row in November 2013, the stock index OMXT fell by 0.07% in a month, LETA/Postimees Online reports.
On Thursday, the British Chamber of Commerce in Lithuania presented a new direction of activities, which also involves active cooperation with the state FDI promotion agency Invest Lithuania, informs LETA/ELTA.
Latvenergo Group is currently the largest electricity supplier in the Baltics. In nine months of 2013 the revenue of the Group increased by 6%, reaching LVL 576.7 million (EUR 820.6 million), while net profit is LVL 23.1 million (EUR 32.9 million). In the third quarter of 2013, the second power unit of TEC-2 was commissioned, informs press secretary of Latvenergo Ivita Bidere.