Company briefs - 2009-05-14

  • 2009-05-14
AS LHV Pank has formally been granted its banking license on May 6 and will become only the 7th licensed credit institution in Estonia. Although new to providing full bank services, LHV has been active as an investment company since 1999. It has been providing brokerage, investment and asset management services throughout the Baltic's and currently has 35,000 clients. Two of the founders of LHV, Andres Viisemann and Rain Lohmus have extensive experience, having previously founded and run Hansapank.  Swedbank acquired Hansapank in the spring of 2005 and continues to operate the bank throughout the Baltic's under the Swedbank brand.

Apgads Zvaignze ABC publishing company has posted more than 10.2 million lats in turnover last year, the LETA news agency reported. The number is up from the previous year's turnover figures of 9.6 million lats.  However, the company reported consolidated profit after tax and before minority interest of 1,112,562 lats compared to 1,475,924 lats a year ago.  Apgads Zvaigzne ABC has five bookstores in Riga, and around 20 bookstores in Latvia altogether.

The European Commission has allocated about 1 million euros to the European Humanitarian University of Lithuania in 2009 's the same amount as was allocated to the school last year. The European Commission is the biggest supporter of EHU. The 2 million euros donated covers almost half of all finances on the EHU Trust Fund, Lithuanian national news agency ELTA reported. The private education institution was established in Minsk in 1992. After its closure in Minsk, EHU managed to renew its activities in Lithuania and offered bachelor and master degree studies for students from Belarus in Lithuania in 2005. In February 2006, the Lithuanian Government granted EHU the status of Lithuanian university.