International Internet Magazine. Baltic States news & analytics
Thursday, 05.05.2016, 13:25
Net profit of the listed Estonian construction company AS Merko Ehitus in the first quarter of the year 2016 fell 86.2% year-on-year to 100,000 euros which was mainly a result of government orders being down and the slower than planned launch of construction of several large-scale projects.
Keyword tags: Baltic, Construction, Estonia, Legislation, Real Estate
Estonian banks issued in the first quarter 524 housing loans in the amount of 32.5 million euros against surety provided by Kredex, informs LETA/BNS.
The average price per square meter of apartments in Tallinn in April 2016 was 1,588 euros, 1.8% higher than the year before, it appears from statistics of the Estonian Land Board, cites LETA/BNS.
The Estonian investment company Brave Capital will by the year 2020 at the latest build 40,000 square meters of commercial and office space in the Ravala quarter in central Tallinn, informs LETA/BNS.
The State Audit Office in Latvia has called on the Economics Ministry to improve management of the Latvian Privatization Agency (LPA), to assess contribution of the LPA board towards attaining the agency's goals and also suggested that the ministry should consider setting a specific deadline for completion of the privatization process, informs LETA.
President Raimonds Vejonis on April 29th has decided not to promulgate amendments to the Immigration Law, the President's Chancery told LETA.
Studio Libeskind has won an international competition organized by Lords LB Asset Management to design a new 40-million-euro commercial complex in Konstitucijos Avenue, on the right bank of the Neris River in Vilnius, the investment management company said on April 29th, cites LETA/BNS.
The Estonian government on April 28th endorsed the budgetary strategy for 2017-2020, according to which in the next few years Estonia's UN Security Council campaign would be supported as well as the reconstruction and restoration of the building complex of the Estonian embassy in Moscow, reports LETA/BNS.
Data of the Central Statistical Bureau (CSB) show that, compared to February 2016, in March 2016 level of construction costs in Latvia grew by 0.2%. Labour remuneration of workers went up by 0.7%, maintenance and operational costs of machinery and equipment – by 0.3%, while prices of building materials went down by 0.1%.
Riga is the most expensive city in the Baltics to live in, according to a study done by Swedbank Institute of Finances, cites LETA.
Bosco Company invites to participate in the b2b Conference & Expo. WealthPro Latvia, Riga 2016 – 7-8th of June 2016, Hotel Radisson BLU.
The Estonian government has approved funding for several real estate projects in 2017-2020, including the construction of two regional rescue buildings, a new building for the school of fine arts and renovation of several kindergartens, informs LETA/BNS.
The Estonian banking sector earned 51 million euros in net profit in the first quarter, excluding dividend income, which is one third less than a year earlier, the Bank of Estonia said on Monday, cites LETA/BNS.
Archbishop of the Estonian Evangelical Lutheran Church (EELK) Urmas Viilma announced on Monday a fundraising campaign to support the bankrupt St. Alexander's congregation of Narva and salvage its assets, informs LETA/BNS.
AS YIT Ehitus, Estonian operation of the listed Finnish construction group YIT, has won a tender for the contract to reconstruct University of Tartu Library with an offer of 5.5 million euros exclusive of VAT, informs LETA/BNS.