International Internet Magazine. Baltic States news & analytics
Sunday, 09.03.2014, 09:57
In 2013, Latvia's current account deficit was smaller than in previous years – EUR 191.1 million, 0.8% of the predicted gross domestic product (GDP), Bank of Latvia economist Ieva Opmane writes in the makroekonomika.lv economic news portal, cites LETA.
Keyword tags: Banks, EU – Baltic States, Financial Services, Foreign trade , Funds, Investments, Latvia
In opinion of Mr. Aigars Šmits, Chairman of the Board of Directors of ARCO REAL ESTATE, the draft law prepared by the Ministry of Economics stipulating provision of support to young families, who want to purchase a home, would not be an effective way to help people. In contrast, an increase of the number of municipal apartments for rent and offering the apartments for long-term rent would give real benefits, says Mr. A. Šmits.
In 2013, investment in tangible fixed assets within the territory of the country amounted to LTL 16.6 billion (EUR 4.7 billion) and, compared to 2012, grew by 12.3%, informed LETA/ELTA, referring to the Statistics Lithuania.
The Municipality of Vilnius city approved of the investments in the reduction of the pollution of the thermo power plants, informs LETA/ELTA.
According to Newsec – the Full Service Property House in Northern Europe – 2013 was a real RESTART for the Baltics. Volume of property investment transactions reached precrisis level and is expected to beat the record in 2014 already. Spectacularly recovering demand forces new developments in both commercial and residential sectors.
Larger Germany's company is determined to invest in Kaunas city. After the visit in Lithuania's city Kaunas, the representatives of the German energy company Danpower announced that they seriously considered the opportunity to invest in Kaunas heating sector, informs LETA/ELTA.
The Finance Ministry of Latvia is prepared to continue cooperation with the Jurmala City Council and lend the necessary funds for the purchase of the Kemeri Sanatorium complex, the government announced yesterday, cites LETA/Nozare.lv.
The Board of the Lithuania-based shipment company Lithuanian Shipping Company (LSC) had income in amount of 92.3 million litas (26.7 million euros) during January-December, 2013, and, if compared to the income of year 2012 – 83.9 million litas (24.3 million euris), it increased by 10%, the company informed LETA.
As the investors are setting the capital back from Russia and are selling the shares as well as the local currency, we can see the slowdown of the growth of the economy for several quarters in a row. According to the Danske Bank's analysts in Lithuania, this could take away up to 1% of the growth of the country's gross domestic product (GDP) in 2014, informs LETA/ELTA.
The reason why the Finnish waste management and cleaning service Lassila&Tikanoja has sold its company in Latvia, L&T, is due to the Riga City Council's new regulations on waste management in Riga, as Lassila&Tikanoja Finance Director Timo Leinonen told the Nozare.lv business portal, cites LETA.
The year 2013, activities of the Klaipeda State Seaport brought 375 million litas to the state budget, reported LETA the Transport Ministry of Lithuania.
Lithuania's Speaker of the Seimas Loreta Grauziniene met with Mayor of Utena District Alvydas Katinas and staff of the administration, informs LETA/ELTA.
The representatives of the International Monetary Fund (IMF) are assured that economic growth in Lithuania is balanced, the country has all the possibilities to join the euro area in 2015, yet it is still necessary to take certain measures to manage public finances, informs LETA/ELTA.
Although Estonian stock exchange-listed companies reported of strong economic results of 2013, this was not at all reflected in the share price movement and the stock exchange index OMXT fell in February by 1% to 824.49 points, LETA/Postimees Online reports.
Company Bioinvest has acquired 100 percent of Latvia's leading waste management company L&T from the Finnish waste management and cleaning service Lassila&Tikanoja, as Bioinvest representative Toms Briedis informed the Nozare.lv business portal, cites LETA.