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Energy trading market gets new member
VILNIUS - Lietuvos Energijos Gamyba, a company working in the production and wholesale trade of electricity, continues pursuit of its goal to help the integration of the Nordic and Baltic electricity markets, reports ELTA. It is also the first Lithuanian company to join the derivatives exchange through a NASDAQ OMX Commodities listing. NASDAQ OMX Commodities offers market participants the possibility to trade derivatives linked to the price of electricity on the Nord Pool Spot power exchange. The trading of derivatives, despite the bad reputation they have received due to the global finan...  Full story...
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 Sep 03, 2014 - Weak economy hits labor...
TALLINN - Estonia’s central bank Eesti Pank said in its comments on the second quarter labor market data that the data indicates that the labor market is adjusting to the weak economic environment, reports LETA. Data from Statistics Estonia show that the number of employed fell by 1.2 percent year-on-year in the second quarter of 2014. A low rate of participation in the labor force meant that the unemployment rate fell at the same time...
 Sep 03, 2014 - Loan volumes up again in Estonia...
TALLINN - In July, for which the latest numbers are available, the volume of loans and leasing contracts issued to enterprises and households continued growing at a moderate pace in Estonia, reports Aripaev Online. The year-on-year increase in the loan portfolio accelerated from 2.8 percent to 3.3 percent in July, growing by 80 million euros in a month to approximately 15.2 billion euros. The year-on-year growth in the loans and leasing ...
 Sep 03, 2014 - Growth numbers downgraded...
RIGA - Swedbank has cut Latvia’s economic growth forecast to 2.5 percent this year, reports Nozare.lv. In 2015, Latvia’s economic growth could increase by 2.6 percent, it says. In 2016, Latvia’s GDP could increase by 3.5 percent, said senior economist at Swedbank Lija Strasuna. In April, Swedbank lowered its original forecast for GDP growth - from 4.8 to three percent this year. Meanwhile, inflation could remain moderate at...
 Aug 06, 2014 - Problems mixed in Baltic recovery...
TALLINN- Insufficient demand has become the most overwhelming problem for Estonia’s economy on the basis of assessments made by the experts polled by the Estonian Institute of Economic Research in June, writes Delfi.ee. In the experts’ opinion, the gravity of the problem reaches seven points on a nine-point scale. Similar assessments made in Latvia and Lithuania revealed that in Latvia, the greatest problem is unemployment (6.5 p...
 Aug 06, 2014 - Estonians hold the most cards...
RIGA - Among the three Baltic States, Latvia has the lowest number of payment cards per resident, show Association of Latvian Commercial Banks data, reports LETA. The number of payment cards per resident in Latvia is 1.2; in Lithuania 1.25; in Estonia 1.35. The number of payment cards in Latvia could grow if residents choose additional services, for example, credit cards, said Citadele bank board member Santa Purgaile. She said that cred...
 Aug 06, 2014 - EP confirms Lithuanian entry into eurozone...
VILNIUS - The European Parliament on July 16 confirmed the position of the Economic and Monetary Affairs Committee on Lithuania’s adoption of the euro with a large majority - 545 MEPs voted in favor, 116 against, reports LETA. The country can now join the eurozone on Jan. 1, 2015. “Lithuania fulfills all the criteria. The government and the national parliament have worked hard over the last years,” said MEP Werner Langen,...
 Aug 06, 2014 - In usual tactic, Russia lashes out at farmers...
RIGA - Russia’s ban on imports of Polish vegetables will mean much tougher competition for Latvian producers, as Polish products will be entering the local market in large quantities; for customers this will mean lower prices, yet also lower quality, several experts said to business portal Nozare.lv. This development brings to mind the situation a few years ago when Russia also closed its market. This is bad news for producers, as Pola...
 Aug 06, 2014 - Eastern Europe caught in Russian downdraft...
VILNIUS - Investors are punishing many former Soviet bloc nations for their ties to Russia even as these countries, now European Union members, support sanctions on President Vladimir Putin for his actions in Ukraine, reports Bloomberg. After the ruble, currencies from Eastern Europe accounted for five of the six worst-performing emerging-market exchange rates in July, led by Hungary’s forint and Romania’s leu. Stock indexes in B...



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