International Internet Magazine. Baltic States news & analytics
Saturday, 07.12.2019, 12:09
Italy's Etea Group is planning to build a facility in Lithuania's northern city of Panevezys to produce ethyl alcohol from residual materials from wheat processing, the business daily Verslo Zinios reported on Tuesday.
Keyword tags: Alcohol, EU – Baltic States, Good for Business, Industry, Investments, Lithuania, Markets and Companies
Changes in the Latvian banking industry, the increased attention to it from international organisations, and the challenges of the time required Latvian banks to seriously restructure development models and search for the new ones. In a short time, these tasks were successfully completed by the small mobile banks with local capital that managed to find their niche in the financial market and prove to be necessary for the Latvian economy.
Apollo Group OU, the biggest entertainment provider in Estonia, is to open over 20 more Kentucky Fried Chicken (KFC) restaurants in the Baltic countries in the next three years and KFC will also be added to Apollo Group's loyalty program, informed LETA/BNS.
Latvian monetary financial institutions (mainly banks) earned EUR 148.5 mln in aggregate profit in the first ten months of 2019, down 41% from the same period a year ago, the Bank of Latvia reported.
Delano, the operator of over 50 food service outlets, plans to open five new cafes and three restaurants in 2020 and aims to grow revenue by more than 8% next year, informed LETA/BNS according to the business daily Verslo Zinios.
Initial Public Offering on Baltic market is a rare event; therefore, it is always in the center of attention and local investors are closely watching how successfully it will turn out. During last four years 5 new companies were successfully listed on the Baltic market: Novaturas, LHV Group, Eften III Real Estate Fund, HansaMatrix, Tallina Sadam and there was also one unsuccessful IPO attempt of Citadele Bank.
Online second-hand clothing marketplace Vinted has raised 128 mln euros in a funding round, making it Lithuania's first "unicorn", a startup company valued at over 1 bn euros, informed LETA/BNS.