International Internet Magazine. Baltic States news & analytics
Tuesday, 28.06.2016, 06:47
Commissioner Jonathan Hill responded to modern issues concerning deepening of the single market, building a Capital Markets Union, and supporting strong pensions market in Europe. At the “Pensions Europe Conference”, he claimed that the number of retired people will double in the near future and that pension funds can strengthen EU financial sector.
Keyword tags: Analytics, EU – Baltic States, Financial Services, Funds, Investments, Legislation, Pensioners
Rauno Klettenberg, the chairman of the management board of Nasdaq Tallinn AS, has decided to leave his position after the end of his three-year term and his last day in the position will be June 30, 2016, reports LETA/BNS.
While the decision of the United Kingdom to leave the European Union increases uncertainty, it will probably not result in a major decline of the economy, the Bank of Estonia (Eesti Pank) finds, cites LETA/BNS.
Great Britain’s decision to depart from the European Union (EU) is expected to briefly cause some disarray in Latvian-British business relations, Guntis Rubins, the head of the Latvian Investment and Development Agency’s representation in the UK, predicted, cites LETA.
The Tallinn city government has initiated a procedure to prepare a detailed plan for the plots at Narva Road 129 and 129b and nearby areas where the city's new main hospital complex is about to be built, informs LETA/BNS.
Cujo, which was featured as one of the hottest up-and-coming startups at the TechCrunch Disrupt conference 2016, is setting up operations in Lithuania. The US-based startup will establish its Lithuania division by the end of the year, where top IT professionals will work on developing, testing and improving Cujo’s smart home internet security technology, reported BC press officer at Invest Lithuania Egidijus Jurgelionis.
Lithuania's phosphate fertilizer manufacturer Lifosa, which is owned by Russia's chemical industry concern EuroChem Group, plans to invest approximately 75 million euros in the production of phosphoric acid, the Verslo Zinios business daily reports on June 22nd cites LETA/BNS.
AS LHV Varahaldus, asset management subsidiary of AS LHV Group, bought Danske Capital AS for 10.92 million euros, LHV told the stock exchange, informs LETA/BNS.
AS Noo Lihatoostus, a meat processing company based in the small town of Noo not far from the city of Tartu, has started to build an annex to its production building for five million euros and is set to invest 15 million euros more in new facilities and equipment by 2020, writes LETA/BNS.
Estonian Peat Mill, a subsidiary of the construction and energy producing company KMG Inseneriehitus AS, bought the assets of the bankrupt peat harvesting company AS Sangla Turvas for 2.8 million euros at the beginning of June 2016 and intends to have the company resume operations and to make additional investments in it, informs LETA/BNS.
The Supervisory Board of the Environmental Investment Centre (KIK) has chosen to support 365 environmental projects in Estonia with a total of 27,813,403 euros, reports news.err.ee.
Estonian state-owned energy company Eesti Energia is to invest 200-300 million euros in five years to increase the efficiency of the company's existing assets and the value of the final product, and in the course of the process the company is planning to reach earnings before interest, taxes, depreciation and amortization (EBITDA) worth 300 million euros, informs LETA/BNS.
At a recent Brussels Economic Forum, both ECB Governor M. Draghi and Commission vice-president J. Katainen revealed present EU efforts to stream line European economy. They claimed that because of structural weaknesses, the lack of investment reduced member states’ competitiveness.
Nortal Group shareholders bought back 50% of Group shares from Enterprise Investors and LHV Pension Funds, regaining full ownership of the company. Simultaneously Nortal is expanding its shareholder base among employees, reported BC company’s press service.
The bulk of the 30-million-euro loan granted to the Vilnius Airport will go towards reconstruction of the runway, says Gediminas Almantas, director of Lietuvos Oro Uostai (Lithuanian Airports), a state-owned company that manages the airports of Vilnius, Kaunas and Palanga, reports LETA/BNS.