International Internet Magazine. Baltic States news & analytics
Wednesday, 22.09.2021, 01:39
Workland, a company offering fully serviced shared office spaces, opened two new co-working centers in Riga and Vilnius this week after investing approximately a million euros in both centers. There are altogether 335 working spaces in the two new centers. By now, Workland has opened 10 centers across the Baltics, the company said LETA/BNS.
Keyword tags: Baltic, Good for Business, Investments, Real Estate
The banking sector in Estonia earned net profit of 285 mln euros in 2019, which was one fifth less than in the previous year. The main reason for this was structural changes in the banking market. The net interest income and net service fee income of the banks fell a little as a ratio to total assets, but the ratio of administration costs remained the same as a year earlier. Changes in loan write-downs also affected profits. The net profit of the banking sector was 1% of total assets.
Foreign chambers of commerce in Latvia approve of the ongoing financial market reforms, but there are still concerns and many uncertainties regarding banks' customer due diligence procedures, as Armands Gutmanis, head of the Swiss Chamber of Commerce in Latvia, told LETA.
Private forest manager Skogssallskapet in the last financial year from September 1, 2018, until August 31, 2019, generated EUR 920,584 in turnover, which is by 4.7% lower than in the previous financial year, while the company's loss increased by 3% to EUR 239,357, according to Firmas.lv business database writes LETA/BNS.
The National Electronic Mass Medic Council (NEPLP) has cancelled the licenses of LNT and Kanals 2 TV channels the request of their owner TV3 Group and has licensed to two new TV channels - TV3 Life and TV3 Mini, reported LETA.
Bank of Lithuania: The halfway point towards European prosperity surpassed, yet many challenges still await
Over the last two decades, the gap between the standard of living in Lithuania and the EU average has more than halved, placing Lithuania in the leading position among the rest of the new EU Member States. However, an analysis carried out by the Bank of Lithuania has shown that to reach the average EU prosperity level, the country will have to address complex challenges that may come on its way. t
Fuel prices in Lithuania have somewhat stabilized lately after a surge at the start of the year driven by excise tax hikes and rising crude prices, reported LETA/BNS.