- Secure deals platform Velvet: bypassing the bank when speed matters most
At the start of 2019, the Latvian serial entrepreneur Alexander Zelinsky was dizzy with entrepreneurial satisfaction from his new far-reaching and undoubtedly success-fated endeavour Velvet, a first of its kind fully online blocchain-based fintech company with multiple ideas within the fintech market.
- US pressures Latvia to clean up its non-resident banks
RIGA - Will pressure from the United States, fear of losing the last dollar correspondent account, and an impending vote on admission into the OECD finally force Latvia to curb the laundering of dirty money on behalf of shady figures from the former Soviet Union via Latvia’s non-resident banks?
- Similar to 2008-2009 economic slump, Baltic markets see money glut again
Echoing domestic and foreign financial analysts, Darius Klimasauskas, Associate Director and Head of Corporate Finance, KPMG Baltics, claims that, for the Lithuanian economy 2016 will be all about stability and GDP growth at 3 per cent.
- Lithuania’s analysts see opportunities despite global market turmoil
VILNIUS - The recent turmoil in global financial markets, which was triggered by economic and geopolitical factors, has affected all types of assets.
- Estonia’s e-residents to be able to open bank account from abroad
TALLINN - A bill of amendments has exited the Estonian Interior Ministry that is aimed at simplifying the activities related to e-residency and concluding an agreement with credit institutions; among other things the amendments would enable e-residents to open an Estonian bank account from abroad.
- 2015: A torrid year for Estonian farms
TALLINN - 2015 was a grim year for Estonia’s pig and dairy farms.
- Post-holiday week calm on Baltic bourses
RIGA/TALLINN/VILNIUS - In the week after the New Year holidays the Baltic blue chips index OMX Baltic Benchmark GI (OMXBBGI) decreased 0.81 per cent to 643.1 points but the total turnover grew by 80 per cent compared to the previous week to 2.944 million euros.
- Lithuania’s Impuls cleared to acquire Estonia’s Arctic Sport
Lithuania’s largest fitness chain, Impuls LTU, has been cleared by the Estonian competition authority to acquire Freewill OU, owner of the Arctic Sport fitness centers in Estonia.
- Estonian hotels expect few tourists for turn of the year
TALLINN - Estonian accommodation establishments are rather pessimistic about occupancy rates at the turn of the year since tourist flows from Russian and Finland remain low.
- Latvian regulator hits Privatbank with record fine for Moldova bank fund laundering
RIGA - The Latvian Financial and Capital Markets Commission on Dec. 11 imposed a record 2-million-euro fine on Ukrainian-owned A/S Privatbank and ordered the dismissal of its CEO and managing board for violations of money laundering and other banking regulatory laws in connection with the alleged plundering and collapse of three banks in Moldova in late 2014.
- Jobs growth hopes rest on Smart Specialization strategies
A walking, talking robot named NAO which took to the stage at the 13th Committee of the Regions’ (CoR) OpenDays2015 event in Brussels in October was offered as just one example of the technological advances emerging from Europe’s universities and industry.
- Estonian Air files for bankruptcy
Estonia’s national airline Estonian Air declared itself bankrupt last week after the European Commission decided state funding the company had received was illegal and should be repaid.
- Laima, Latvia’s top sweets maker, invests heavily in robot packagers
RIGA — Latvia’s largest sweets maker Laima has invested EUR 1.77 million in technological upgrades of candy production, said Dana Ercina-Uzane, the spokeswoman for NP Foods group, to which Laima belongs.
- Estonian tourism business faces hard times as Russians choose other destinations
The flow of Russian tourists into Estonia has shrunk dramatically over the course of 2015.
- SuperBus green-lit for Estonian domestic routes after half-year of delays
Low-cost bus service SuperBus, which rolled out services in the Baltics earlier this year, has finally been given the go-ahead to put its vehicles on the road in Estonia after months of delays.
- Finland’s Ovumia buys Nova Vita fertility clinic in Tallinn
The Finnish fertility treatment services company Ovumia OY has bought the Nova Vita clinic in the Estonian capital Tallinn, which is set to start offering egg freezing services and expanding its offering to foreign patients under the new owner.
- Estonia: Merko signs contract on construction of Tallinn tram line extension
A consortium consisting of AS Merko Ehitus Eesti, KMG Inseneriehituse AS, and the City of Tallinn transport operator Tallinna Linnatranspordi AS signed an agreement on Tuesday to design and build the infrastructure extending the Peterburi Road tram line up to Tallinn Airport.
- Lithuania to start talks with Gazprom on new contract next year
VILNIUS, Oct 15, BNS - Although Lithuania’s current long-term gas supply contract with Gazprom expires at the end of this year, Lietuvos Duju Tiekimas (Lithuanian Gas Supply) will start talks with the Russian gas giant on a new deal next year as the existing contract will give the country enough Russian gas, the CEO of the Lithuanian gas import company has said.
- Estonia: Minimum pay rise to 430 euros would add 6 million euros to state budget
According to calculations made by the Ministry of Finance, the plan to raise minimum monthly pay to 430 euros next year would result in an increase of six million euros of state budget receipts compared to previous estimations, and the raise to 470 euros in 2017 would result in an increase of 10 million euros.
- Latvia’s Tax Rebellion
There’s a tax revolt in Latvia.