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Monday 17.12.2018 | Name days: Teiksma, Hilda

Most investment funds in Latvia functioned with positive yield last year

The majority of investment funds present in Latvia worked with positive yield last year. Their performance was greatly influenced by the investment fund currency – better yield in euros was demonstrated by funds operating with Russian rouble or US dollar, as reported by the Finance and Capital Market Commission.

ERDB ceases participation in capital of problematic asset manager Reverta

On Tuesday, 7 March, European Reconstruction and Development Bank ceased participation in capital of problematic asset manager Reverta, as mentioned in the company’s report submitted to Nasdaq Riga.

EM to assist in building closer economic cooperation between Latvia and China

Latvian Economy Ministry in China wishes to discuss investment attraction matters and the creation of a Latvian-Chinese think tank to better picture directions for future cooperation. Special attention will be provided to enhancing cooperation within 16+1 format and One Belt One Road project.

IKEA borrows EUR 35.4 million from SEB to build a new store in Latvia

SEB Bank and Verus Praedium, which develops IKEA brand of furniture and household goods in Latvia, have signed an agreement on a long-term loan of EUR 35.4 million for the construction of an IKEA store.

Prices to rise three percent in Estonia

The prices of goods and services in Estonia will climb 3 percent in 2017, the Estonian wing of Swedbank predicted. Meanwhile, salaries should increase somewhat faster than prices, the bank’s chief economist, Liis Elmik, evaluated in a press release on Tuesday, March 7.

CC: largest merging deals of last year were performed on the retail market

Merging deals and other agreements of the largest businesses in 2016 had affected the competition development in twelve different industries and nearly one billion euros large segment of Latvia’s national economy, Competition Council reports.

MTG intends to conclude talks on selling its business in Baltics soon

Swedish media concern Modern Times Group may soon conclude talks regarding the sale of its business in Baltic States. According to information from BNS, one of the realistic buyers is Bite Group owner – American private capital investment fund Providence Equity Partners.

Maxima Latvia becomes a member of Foreign Investors Council in Latvia

Maxima Latvia was accepted as a member of the Foreign Investors Council in Latvia. Over the past seven years, the company has invested EUR 43 million in Latvia, as reported by Maxima representatives.

Example collective agreement – Estonian trade union praises Telia

The collective agreement agreed to by telecommunications firm Telia Eesti is an example to how an employer can treat its employees, evaluated the Estonian Communication and Service Workers' Trade Union.

De Facto: 10% of Latvian municipalities refuse complying with Constitutional Court’s ruling

For approximately three and a half years one-tenth of Latvian municipalities have been refusing to comply with Constitutional Court’s ruling on changing waste management companies, as reported by De Facto.

Changes in Latvenergo’s Audit Committee

New members of Latvenergo’s Audit Committee were elected at an extraordinary meeting of shareholders on Friday, 3 March.

Estonia allows testing self-driving cars on public roads

Estonia has allowed self-driving cars to take part in public traffic for testing purposes, if a vehicle has a driver who can take over driving, when necessary.

SEB: 62% of Latvians do not expect to receive the entire amount of their pension

Latvian residents lack information about the formation of pension capital. On top of that, their trust in the system is very low, as concluded in SEB Bank’s latest survey.

Baltic stock exchanges’ activity was the highest with Estonian gambling companies in February

Stock trading at Baltic Nasdaq exchange in February was active the most with Estonian Olympic Entertainment Group stocks, according to market statistics.

Grindeks board member announces decision to resign

Member of Grindeks management board Ibrahim Muhtsi has announced his decision to resign from his post on 1 March, as reported by the company.

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