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EBRD funding energy upgrade
EBRD funding energy upgrade
RIGA  - The European Bank for Reconstruction and Development increased its support for the creation of a modern power system in the Baltic region with a 150 million euro loan for the construction of a state-of-the-art gas turbine facility in Latvia, following the closure of the Ignalina Nuclear Power Plant, said the bank in a press release, reports news agency LETA. The proceeds of the loan will be used to upgrade power plants run by Latvia’s Latvenergo, the state-owned group whose operations include generation, transmission and distribution of electricity and heat energy. S...  Full story...
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  Business profits drop by half...    Merko in a buying mood...    Latvia on the laundry list...    VAT reduction bill moves forward...    Historic building faces wrecking ball...    The week’s top news in world financial markets from Maximus Capital...    Timber transport cartel suspected...    Minister opposes city heating ‘privatization’...    Company briefs...    New orders keep inmates working...    Former owners unhappy with bank plan...    Nord Stream to face environmentalists...    Energy dependence on Russia to increase...    Another call for State retreat...    Autoliv makes buyout offer...    The week’s top news in world financial markets from Maximus Capital...    One-stop solution for IT services...    Company briefs...    Bank losses expected to drop this year...    Korea offers nuclear technology...  
 Mar 10, 2010 - Merko in a buying mood...
Merko in a buying mood
TALLINN - Merko Ehitus, the largest listed Baltic construction company, has its “eyes open” for acquisitions in neighboring Latvia and Lithuania, where companies are suffering from a steep regional slump, says Chief Executive Officer Tiit Roben, reports Bloomberg. Tallinn, Estonia-based Merko, which earned more than 90 percent of 2009 revenue from building projects, also wants to bo...
 Mar 10, 2010 - Latvia on the laundry list...
Latvia on the laundry list
RIGA - A report by the U.S. Department of State includes Latvia among a list of 60 countries in which money laundering took place last year, reports news agency LETA. The report says that the largest source of money laundered in Latvia is tax evasion and fraud, some of which appears to originate “from outside of the country.” Other sources include financial fraud, smuggling, and pub...
 Mar 04, 2010 - Former owners unhappy with bank plan...
Former owners unhappy with bank plan
RIGA - Former Parex bank owners Viktors Krasovickis and Valerijs Kargins are ready to renew the bank’s normal activity in one year, stressed Krasovickis in an interview with the daily Telegraf. “Parex bank should be effectively put in order in a short period of time, and not pulled apart through restructuring. The [economic] situation will improve and the bank could return the money...
 Mar 03, 2010 - One-stop solution for IT services...
One-stop solution for IT services
VILNIUS - Baltic Data Center, a leader in the management of data centers and information systems in the Baltic States and a part of the Lithuanian-based TEO group, will provide IT Desk services to three companies in the Carlsberg Group stable - Svyturys-Utenos Alus in Lithuania, Aldaris in Latvia and Saku in Estonia, reports news agency LETA. IT Service Desk consultants will provide support ser...
 Feb 24, 2010 - Bank losses expected to drop this year...
Bank losses expected to drop this year
RIGA - Swedish banks - especially Swedbank and SEB - have paid a heavy price for lending to the Baltic region during years of red-hot growth, reports The Swedish Wire. Last year Swedbank, SEB and Nordea had losses in total worth 2.6 billion euros related to bad loans in the Baltics. Economists say the worst may be over for the Baltics and banks expect the economic situation to stabilize as...
 Mar 17, 2010 - Company briefs...
After losing the contracting work commission for the new border guard ship for Estonia to the Finnish company Uudenkaupungin Tyovene, BLRT is consi...
 Mar 17, 2010 - airBaltic strategy criticized in E...
TALLINN - Estonian Air deputy president in charge of commerce Rauno Parras noted that the company welcomes the intention of Latvian national airlin...
 Mar 17, 2010 - Snoras moves to fill lending gap...
VILNIUS - Snoras Bank, Lithuania’s fifth biggest bank by assets, wants to boost its loan portfolio this year as rival Scandinavian subsidiari...
 Mar 17, 2010 - Estonian Energy to open high tech p...
TALLINN - The construction of a new waste-to-energy type power plant will start in the summer 2010 in the vicinity of Tallinn, where the new constr...
 BUSINESS CALENDAR
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