Legislation

International Internet Magazine. Baltic States news & analytics Saturday, 24.02.2018, 09:54

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FCMC decision could mean the beginning of liquidation process of ABLV Bank

FCMC decision could mean the beginning of liquidation process of ABLV Bank

24.02.2018

ABLV Bank has received the decision from the Council of the Financial and Capital Market Commission (FCMC).

Keyword tags: Banks, Crisis, Financial Services, Latvia, Legislation



FCMC adopts decision on unavailability of deposits at ABLV Bank

FCMC adopts decision on unavailability of deposits at ABLV Bank

24.02.2018

The Board of the Financial and Capital Market Commission (hereinafter – the FCMC) during an extraordinary meeting overnight adopted a decision on the occurrence of unavailability of deposits at ABLV Bank the FCMC informed LETA.

Reconstruction of Riga TV Tower to cost several dozens millions euros

Reconstruction of Riga TV Tower to cost several dozens millions euros

23.02.2018

Reconstruction of Zakusala TV Tower will cost several dozens of millions of euros, Latvian State Radio and Television Center (Latvijas Valsts Radio un Televizijas Centrs, LVRTC) CEO Janis Bokta told LETA.


Fertilizer plant in Kaliningrad to be operational in 3 years

Fertilizer plant in Kaliningrad to be operational in 3 years

23.02.2018

A new 671-million-euro fertilizer factory should be built in the Russian Kaliningrad region after Arunas Laurinaitis, one of the shareholders of Lithuanian Achemos Grupe (Achema Group) and chairman of the board of directors Neman Azot, signed a cooperation agreement with Kaliningrad Governor Anton Alikhanov, however, the main investor remains a mystery, as Achemos Grupe maintains to have nothing to do with the project, Verslo Zinios business daily said, cites LETA/BNS.

Latvia's bank scandal highlights limits of Europe's banking supervision

Latvia's bank scandal highlights limits of Europe's banking supervision

23.02.2018

A corruption scandal rocking Latvia underscores the limits of Europe's banking supervision and is likely to lead to reforms, experts said Thursday, informs AP/LETA.


23.02.2018

PM: finance sector troubles bad for Latvia's reputation but banking system is stable

The problems in the finance sector have a negative effect on Latvia's reputation but do not threaten the stability of the banking system, Prime Minister Maris Kucinskis (Greens/Farmers) said, addressing the Latvian parliament, reports LETA

23.02.2018

Market share of illicit cigarettes down 1.6 pp in Estonia

Altogether 13.3% of the packs of tobacco products found in Estonia have been brought into the country as illicit goods, which is 1.6 percentage points less than the year before, it appears from a survey carried out by Nielsen, cites LETA/BNS.

23.02.2018

Latvian police starts probing money laundering allegations at ABLV Bank

The Latvian State Police has started a probe about possible money laundering schemes at ABLV Bank as suggested by a recent report of the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury.

23.02.2018

Latvian EcoMin annuls licenses to 5 other cogeneration power plants

The Latvian Economics Ministry has annulled licenses to five other renewable resources cogeneration plants, the ministry reported LETA.

23.02.2018

Lithuanian MFA calls stalling of EU-Canada trade pact 'narrow-thinking'

Lithuanian Foreign Minister Linas Linkevicius criticizes the country's parliament for stalling discussions on the CETA trade pact between the EU and Canada, reports LETA/BNS.

23.02.2018

Riga plans to allocate additional EUR 3.9 mln for development of Skanste territory

The Riga City Council financial and administration affairs committee today supported the proposal to increase financing allocated for development of Skanste territory by EUR 3.9 million, thus, the council’s confinancing in the project will reach EUR 4.87 million, LETA learned from the council.

23.02.2018

Lithuanian law-enforcement officials visit Atea amid hospital corruption probe

Lithuanian law-enforcement officials conducting a probe into suspected corruption at one of the country's largest hospitals on Wednesday visited Atea, a company of the Norwegian-owned IT solutions group Atea Baltic, informs LETA/BNS.

22.02.2018

Ir: Rimsevics suspected of soliciting bribe from Trasta Komercbanka

Bank of Latvia governor Ilmars Rimsevics is suspected of soliciting a bribe from Trasta Komercbanka that is undergoing a liquidation process right now, Ir magazine reports, cites LETA.

22.02.2018

Lithuania fails to improve its corruption perception ranking

Lithuania failed to improve its position in the latest Corruption Perception Index released by Transparency International on February 21st, cites LETA/BNS. Lithuania ranked 38th out of 180 countries surveyed in the annual index, unchanged from last year. This puts Lithuania ahead of Latvia, but behind Poland and Estonia.

22.02.2018

Latvijas Gaze subsidiary Gaso submits new tariff plans to regulator

Latvijas Gaze subsidiary Gaso has submitted its new tariff plan for distribution of natural gas to the Public Utilities Commission or the regulator. According to the new plan, natural gas distribution tariffs will be reduced by 18-46% to more than 95% of consumers, the company’s representatives reported LETA.

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