International Internet Magazine. Baltic States news & analytics
Monday, 22.09.2014, 19:14
A total of five candidates have shown interest in acquiring the Citadale bank shares, the TV3 show "Neka personiga" reported on Sunday, cites LETA.
Keyword tags: Banks, Financial Services, Investments, Latvia, Legislation, USA
According to information obtained by LETA, one of the potential investors in Citadele bank is former U.S. Federal Reserve Chairman Paul Volcker.
The European Bank for Reconstruction and Development (EBRD) welcomes the decision by the government of Latvia to sell its stake in Citadele to a group of international investors led by the U.S. investment fund Ripplewood Holdings and Tim Collins, the founder and CEO of the fund, informs LETA.
The European Commission has revealed a list of 155 small and medium-sized enterprises (SMEs) from 21 states that will be first to benefit from the new €3 billion SME Instrument. These SMEs will each receive €50,000 to finance feasibility studies for their projects, and they can get up to three days of business coaching. After that, their projects may be considered for further financial support from the Commission worth up to €2.5 million.
Lithuania has continued its strong growth in attracting foreign direct investment projects over the first half of 2014 despite a fall in investments in the region as a whole, according fDi Markets, The Financial Times' database of foreign direct investment (FDI), Invest Lithuania, foreign direct investment development agency, reports.
The Latvian government has recognized the U.S. investors chosen as the most suitable buyers for Citadele Bank, as they are ready to pay an "honest price" at the same time offering a sound vision regarding the bank's development, one of the investors of the U.S. fund Ripplewood Holdings, Tim Collins, told LETA.
Latvian Government Treasury long term debt securities in the amount of EUR 20 million, will be sold in an auction next week, September 24, according to information provided by "NASDAQ OMX Riga", cites LETA.
On Thursday, Lithuanian Prime Minister Algirdas Butkevicius met with Yusuf K. Hamied, Chairman of the Board of the Indian pharmaceutical company Cipla, during his visit to Lithuania, reported LETA/ELTA the prime minister's press service.
Liepajas metalurgs investors are haunted by scandals and lawsuits, the Latvian magazine "Ir" reports, cites LETA/Nozare.lv.
U.S. fund Ripplewood Holdings has offered to pay EUR 92 million for the Citadele bank, as television news channels reported last night, cites LETA.
The amount of Russia's direct investments in Estonia has increased in the first half of the year 2014, commented economic analysts of four major banks at a debate on Wednesday, LETA/Delfi Ärileht reports.
Blind stubbornness of the authorities has gone over the top as in the light of the current geopolitical crisis the Construction Inspectorate is demanding to destroy a newly built biofuel plant in Vilnius when Lithuania is facing an energy blockade from Russia and the heating season is about to begin, reports LETA/ELTA, referring to Lietuvos rytas.
Today Saeima turned down amendments to the Immigration Law repeatedly proposed by All for Latvia! - For Fatherland and Freedom/LNNK (VL-TB/LNNK), stipulating that in order to prevent threat to national security, the government must suspend issuing residence permits to Russian citizens, informs LETA.
One of the largest chocolate manufacturers in Russia Pobeda Confectionery plans to open a chocolate factory in Ventspils in 2015, Ventspils Mayor Aivars Lembergs (For Latvia and Ventspils) said in a press conference yesterday, cites LETA.
Estonian chemical industry Viru Keemia Grupp (VKG) successfully launched its Petroter II plant, which is already running at full capacity for two weeks, LETA/Postimees Online reports.