International Internet Magazine. Baltic States news & analytics
Thursday, 23.02.2017, 13:39
Estonian Minister of Finance Sven Sester has proposed to the government to plan strategic investments that increase Estonia's competitive ability and defense ability in the amount of 315 mln euros in 2018-2020.
Keyword tags: Budget, Economics, Estonia, Investments, Markets and Companies
The Estonian defense contractor Milrem has signed a memorandum of understanding with IGG Aselsan Integrated Systems (IAIS), a joint venture of the United Arab Emirates' International Golden Group and Turkey's Aselsan, informes LETA/BNS.
According to data of the Estonian Renewable Energy Association, new renewable electricity capacity added last year totaled 42.19 megawatts or approximately as much as in three preceding years combined, and investments in renewable energy amounted to 70 mln euros.
The new Lindstrom workwear plant in Latvia’s central Tukums town currently employs 100 people, but by the end of the year the number of employees will be increased to 120, Lindstrom group president and CEO Juha Laurio told LETA.
INVL Asset Management, one of Lithuania’s leading asset management companies, has established the first closed-end umbrella fund intended for informed investors, the INVL Alternative Assets Umbrella Fund, and its subfund, the INVL Baltic Forests Fund I. They began operations on 13 February this year after the Bank of Lithuania approved the fund rules, INVL announced to the Vilnius Bourse.
European regions and separate EU states are key players in helping entrepreneurs in business activity, in creating company, in providing grants or arranging taxes breaks. The Commission and other EU institutions decided to include regions and countries in “conversation” on business possibilities in Europe. Hence, the ideas of creating the Startup Europe Week (SEW), a European Partnership (SEP) and a Network (SERN).
Estonian startups raised a record-breaking 102.5 million euros in investments during 2016, it according from figures published by Startup Estonia writing LETA/BNS.
Later Ltd, which operates the Latvian pizzeria chain Pica Lulu, plans to invest EUR 300,000 in the coming months to open four new pizzerias in Riga and Adazi, the company informed LETA.
Food Union Group, an international group of dairy and ice cream producing companies with a preeminent market share in Northern Europe and Latvia, has received a combined EUR 214 mln (USD 225 mln) investment from PAG, one of Asia’s largest private equity firms, and Meridian Capital, an existing investor, Food Union representatives told BC.
Continuing its policy of supporting startups operating in the field of financial technologies, Rietumu Bank has started cooperation with the StartinLV Association, which unites several dozens of prospective Latvian startups
The manufacturer of graphene-based ultracapacitors Skeleton Technologies is about to borrow money from the European Investment Bank, with the loan agreement to be signed next week, reports LETA/BNS.
The Swedish property investor Claesson & Anderzen AB has put the building of the former central post office of Tallinn up for sale along with several other properties in the Estonian capital as part of a plan to relocate its investments to Germany, writes LETA/BNS according to Postimees information.
A new fund manager Jonas Kimontas joined the team of investment management company “Lords LB Asset Management”. He started to manage the funds of “Energy and Infrastructure SME”, “Energy and Infrastructure Baltic Fund” and “Lords LB Private Equity Fund III” from January 2017.
MJ Systems, a UK company which produces containers for several transport industry giants, has set up operations in Plungė, a town in Western Lithuania. The company plans to invest almost €100,000 over the next three years and create about 50 jobs.
Macaw, an award-winning employer and digital solution provider, has selected Vilnius as the location for its first office outside the Netherlands. In establishing a company in Vilnius, Macaw plans to grow exponentially and recruit highly talented information technology specialists who will develop Microsoft and Sitecore based solutions for international customers.