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Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
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Global economic crime spreads: Latvia has highest ...
RIGA - Economic crimes against enterprises and other legal persons continue to grow in the world. According to the PwC 2014 annual report on global economic crime, approximately 37% of respondents admit to being victims of economic crime (up 3% on 2011) In addition to the aforementioned figure, 25% admit to have been victims of cyber attacks, because fraudsters now often use high-tech solutions to acquire what they need. The PwC survey, which is the most large-scale one in the world, concluded that theft remains the most popular form of economic crime in the world, as mentioned by 69%...  Full story...
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 Apr 03, 2014 - Russian funds not hidden in Latvian banks...
RIGA - After an in-depth analysis of information provided by banks on the freezing of funds of former Ukrainian and Russian officials as instructed by sanctions imposed by the European Union, the Financial Capital and Market Commission has concluded that the total amount of money that will be frozen in Latvian banks reaches several hundred thousand euros. The EU sanction lists contain a total of 51 officials. Only one of them is a customer...
 Mar 05, 2014 - Lithuania on track for euro...
VILNIUS - The winter 2014 European Economic Forecast published by the European Commission on Feb. 25 indicates that Lithuania should not encounter any obstacles in fulfilling the Maastricht criteria necessary to adopt the euro in 2015, reports ELTA. The economic forecast predicts that the budget deficit in 2014 will stand at 2.3 percent, while next year it will drop to 1.7 percent of GDP. The European Commission forecasts 1.1 percent infla...
 Mar 05, 2014 - Pro Kapital in new share discussions...
TALLINN - Estonian real estate developer Pro Kapital Grupp announced that the management board is calling for an extraordinary general meeting of shareholders to decide on the approval of the issuance of new shares by Tallinna Moekombinaat, a company that belongs to the concern, in order to include extra capital that would enable progress with the giant shopping center planned at Peterburi Rd 2 in Tallinn, not far from the Tallinn Airport, rep...
 Mar 05, 2014 - Corporate loan demand slows...
TALLINN - The annual growth rate of the loan and lease portfolio in the Estonian non-financial sector slowed in January to 0.7 percent, Estonia’s central bank Eesti Pank announced, reports LETA. The total volume of loans and leases to companies and households shrank over the month by 8 million euros to 14.8 billion euros. The demand for credit was held down in January by the low level of investment activity among Estonian companies. Co...
 Mar 05, 2014 - Sense of duty for Latvia in ESM...
RIGA - For Latvia, accession to the European Stability Mechanism (ESM) is not only a duty, but also a matter of solidarity, Prime Minister Laimdota Straujuma (Unity) told reporters after a meeting with ESM Managing Director Klaus Regling on March 3, reports LETA. When Latvia was experiencing financial difficulties, the International Monetary Fund aided the country and it was able to overcome the crisis. Therefore, accession to the ESM is a...
 Feb 05, 2014 - Latvia borrows at favorable rates...
RIGA - The Latvian government successfully issued seven-year bonds, raising 1 billion euros (note: not lats) in a Jan. 14 auction; the annual interest rate was set at 2.625 percent with the paper yielding 2.815 percent, said Finance Ministry, reports LETA. Investors can’t get enough of Latvian bonds, it seems. Strong interest for the issue meant that demand outstripped supply four-to-one. Finance Minister Andris Vilks (Unity) was ple...
 Feb 05, 2014 - Euro growth good for Baltics...
VILNIUS - The anticipated recovery of growth in the euro area should have a favorable impact on Central and Eastern Europe, writes SEB. Ulle Mathiesen, business development manager of savings and investment area at SEB, noted that improvement in the state of the economies in Western Europe should have a good effect also on Central and Eastern European nations and that currently this region is turning into an attractive investment environment...
 Feb 05, 2014 - Energy bonds receive strong reception...
TALLINN - Estonia’s state-owned energy giant Eesti Energia carried out a bond deal on Jan. 23, borrowing an additional 100 million euros from the market, reports Public Broadcasting. The money will mostly be used to complete the building of the Auvere power station. Eesti Energua carried out a 300 million euro bond issue at the beginning of April 2012. This brings the eurobonds issued to a total of 400 million euros. The bond issue...



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