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BUSINESS

An intro to Latvia’s banks
An intro to Latvia’s banks
ASSETS AND LIABILITIES: Citadele Bank and Latvijas Krajbanka have served as cautionary tales in the ...
The recent crisis and the ongoing economic slack have shed light on the importance of the financial industry for macro-economic stability. Regulators and public decision makers have become aware that there is an insufficient understanding of banking business models and their concomitant risks. This has led the EU Commission to kickstart an analysis of EU banking system structures. Their aim is to research and outline the various possibilities for banking reform in the EU. Where does the Latvian banking system stand in relation to its EU counterparts in this respect? Our analysis below t...  Full story...
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 Oct 01, 2014 - Straight from the source The advent of direct buy...
Straight from the source  The advent of direct buying communities in Latvia
RIGA - Supermarkets have radically changed the way we consume food. In the Western world, we can now buy almost any type of food we like - anytime, anywhere. We don’t even realize anymore how special it is that we can eat strawberries in winter, or mangos in the Baltics. But many of the products we thoughtlessly throw into our shopping carts in the supermarket have traveled half-way acros...
 Oct 01, 2014 - Ripplewood Holdings group named as Citadele buyer...
Ripplewood Holdings group named as Citadele buyer
RIGA - The European Bank for Reconstruction and Development (EBRD) said it welcomes the decision by the government of Latvia to sell its stake in Citadele bank to a group of international investors led by the U.S. investment fund Ripplewood Holdings and Tim Collins, the founder and CEO of the fund, reports LETA. “Transferring Citadele into private ownership is a big success for the bank...
 Sep 03, 2014 - Baltics move ahead on Polish gas connection...
Baltics move ahead on Polish gas connection
RIGA - The Agency for the Cooperation of Energy Regulators (ACER) has made a decision on the distribution of costs among the countries that will participate in the construction of an alternative gas pipeline through Poland and Lithuania, stipulating that for Latvia this project will cost 29.4 million euros, reports Nozare.lv. The project is scheduled for finalization in 2019-2020, and accordi...
 Sep 03, 2014 - The geopolitics of asset management...
The geopolitics of asset management
Opportunities for the Baltics Most people, and even many finance professionals, think of the asset management industry as consisting of only investment managers and advisors. In reality, however, there are additional, so-called service providers that exercise different functions that make up the industry. One typically distinguishes the following five categories of the industry: the inves...
 Sep 03, 2014 - LNG models presented in Brussels...
LNG models presented in Brussels
TALLINN - Finnish energy company Gasum Oy and Estonian energy company AS Alexela Energia presented on Aug. 18 at the European Commission the alternative models of cooperation of the liquefied natural gas (LNG) import terminal to be built in the Gulf of Finland, reports Public Broadcasting. In February, Gasum and Alexela signed a memorandum at the request of the European Commission on additi...
 Sep 03, 2014 - Ask.fm sold to U.S. investors...
Ask.fm sold to U.S. investors
RIGA - The Latvian social network ‘Ask.fm’ has been bought by the owners of ‘Tinder’ and ‘Ask.com’ for an undisclosed fee, reports BBC. The site, where members answer questions posed by others, has been linked to teenage suicides in the UK and elsewhere and has been criticized for not doing enough to prevent cyber-bullying, said the BBC. IAC, the U.S. compa...
 Sep 03, 2014 - Sanctions begin to impact Baltics...
Sanctions begin to impact Baltics
TALLINN - Estonia’s Minister of Agriculture Ivari Padar said that the Russian food import ban has hit producers of milk and pork and the fisheries industry the hardest, though the state has limited options at this time for supporting them, reports National Broadcasting. So far, only one agricultural firm has requested direct state aid - Rey Seakasvatus - the pig-husbandry farm. “T...
 Aug 06, 2014 - ‘Romance’ over for Riga travelers...
‘Romance’ over for Riga travelers
RIGA - From Aug. 7, the ferry ‘Romantika’ will no longer operate the Riga-Stockholm route; the ferry’s last trip from Riga to Stockholm was scheduled for Aug. 6, Tallink Latvija Sales and Marketing Director Baiba Muceniece said to Nozare.lv. The ferry ‘Isabelle’ will continue operations according to the schedule, which means that Tallink ferry trips from Riga to ...



 Oct 01, 2014 - Texans show interest in Latvia’s ga...
RIGA - Starting his working visit to the United States on Sept. 22, Latvian President Andris Berz...
 Oct 01, 2014 - Clean-up of insolvency process begi...
TALLINN - A legal process in Latvia that is many times associated with systemic corruption, betwe...
 Oct 01, 2014 - Office properties big movers in 201...
RIGA - The total amount of investments in commercial property in the Baltic States reached 385 mi...
 Oct 01, 2014 - Long slog ahead with Russia, warns ...
TALLINN - Estonian Defense Minister and Chairman of the Social Democratic Party Sven Mikser, spea...
 Oct 01, 2014 - Business briefs...
The record-breaking Post-Panamax category container ship Piera left Klaipeda Seaport on Sept. 17 ...
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