International Internet Magazine. Baltic States news & analytics
Tuesday, 02.09.2014, 17:00
Norway has decided to provide support to nine Latvian cities, offering opportunities to participate in international exhibitions with an aim to attract potential investors, representative of the Ministry of Environmental Protection and Regional Development, Marika Vanka informed LETA.
Keyword tags: EU – Baltic States, Forum, Good for Business, Investments, Latvia, Legislation
Today, the government of Latvia approved the European Union's (EU) Structural and Investment Funds for growth and jobs in 2014-2020, outlining the Cohesion Fund priorities, goals, and the attainable results, reports LETA.
As of September 1, 2014, Nordea Pensions Estonia AS is the new fund manager of ERGO pension funds in Estonia, Postimees Online reports.
The second China-Central and Eastern European Countries (CEEC) Local Leaders' Meeting concluded here on Friday, with a Chinese delegation headed by Vice Premier Zhang Gaoli having had comprehensive exchanges with leaders and delegates from the 16 countries in the region, reports BC Chinese Embassy in Riga.
In order to increase the efficiency of its production process, Finnish bakery Fazer plans to invest EUR 5 million into its subsidiary in Latvia by establishing a new plant in Ogre. At the same time, the Group plans to implement various changes in its production process in the entire Baltic region by moving its production facilities from Tallinn to Latvia and Lithuania, Managing Director at Fazer Bakery Baltic Petri Kujala informed the business portal Nozare.lv, cites LETA.
China and the Central and Eastern Europe (CEE) region are exerting more efforts to enhance cooperation between the two sides., reports BC China’s Embassy in Riga.
Invalda LT is one of the major companies in Lithuania investing in other businesses and managing assets. Consolidated net profit attributable to shareholders of AB Invalda totaled to LTL 18.8 million (EUR 5.4 million), in the same period of 2013 it was LTL 92.2 million (EUR 26.7 million), the company said in a statement, cites LETA/ELTA.
On Friday, Lithuanian Prime Minister Algirdas Butkevicius visited Kaunas light industry enterprises and discussed training of specialists, employment and the European Union (EU) investments, reports LETA/ELTA.
Talks on the sale of the insolvent joint-stock metallurgical company Liepajas metalurgs will continue with two bidders – Luxembourg-based United Group, which belongs to Russian millionaire Igor Shamis, and the Ukrainian company KVV Group, as Liepajas metalurgs insolvency administrator Haralds Velmers told a press conference today.
Lithuanian electricity distribution company LESTO, which is a part of the state-controlled energy group Lietuvos Energija, during the first six months of 2014 has continued to increase operational effectiveness and investments in upgrading distribution network, reports LETA/ELTA.
In the first half of 2014, the Litgrid Group's total revenue was LTL 217.5 million (EUR 62.9 million), 15% smaller than in the corresponding period of 2013. The largest share, 47% or LTL 102.6 million (EUR 29.7 million), of the group's revenue is comprised of revenue from power transmission, reports LETA/ELTA.
East Capital Baltic Property Fund II managed by East Capital acquired Rimi Eesti Food’s logistics centre and headquarters near Tallinn, at Põrguvälja tee 3, Jüri. The property was previously owned by Kinnisvaravalduse AS, a subsidiary of RIMI / ICA group, AS Rimi Eesti Food will remain a long term lessee of the property. The purchase price was 13.4 million euros, at the asset's capitalisation rate of 8%, reported BC head of marketing and communications Andrija Lilleoja.
The third Subway fast-food restaurant will open in Latvia next week, Nauris Liberts, a co-owner and board member of PLG Group, told the business portal Nozare.lv, cites LETA.
According to observations of Mr. Māris Laukalējs, a member of the Board of Directors of ARCO REAL ESTATE, in the 2nd quarter of 2014, the owners of apartments located in the city centre, have artificially raised prices hoping for a growing interest in real properties from the part of non-residents before the date of effect of the amendments to the Immigration Act.
The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces that as of 1 September 2014, the sub-funds Rietumu Asset Management Cash Reserve Fund-USD (ticker: RAMCRUFR) and Rietumu Asset Management Cash Reserve Fund-EUR (ticker: RAMCREFR) managed by AS Rietumu Asset Management IPS will be listed on the Baltic Fund List by NASDAQ OMX Riga, informs LETA.