Friday, the 18th of February, 2005
Selling is about to happen
Parex Banka renewed its search for a strategic investor. At present it negotiates with a world-famous bank on selling the majority of its shares. According to unofficial information, it could be Sampo Bank. Parex Banka vice-president in capital market and investments issues, Jevgenijs Zolotarevs, said that many banks and strategic investorsd are interested in buying Parex shares. He neither approved nor denied the information on Sampo Bank.
Thursday, the 17th of February, 2005
Duty tumour begins festering
Illegal CD matrixes market in Latvia reached 78.6%. As a result, Latvian budget loses EUR 857-1000 thousand per year. According to the executive director of Latvian Computer Technologies Association, Dzintars Zarins, the contraband marked increased because of applying the state duty to empty CDs, which reaches 110-150% of its purchase price, while in Estonia and Lithuania this index is only 6% and 8% accordingly.
Wednesday, the 16th of February, 2005
Build new packaging production unit
The company V.L.T. began the construction of the new production unit in Valmiera, Latvia. The enterprise succeeded to attract the finances from the EU structural funds. The total expenses constitute EUR 1.42 million, and the EU funds provided EUR 1. 057 million. It is planned that the equipment will be installed in October 2005, and afterwards the production unit will be put into operation.
Tuesday, the 15th of February 2005
Securities market grew by 10.7%
In 2004 Latvian securities market grew by 10.7% and reached EUR 22.71 billion. Specialists explain this fact with the common economic growth in country. Last year deals with securities constituted 45.6% of the turnover of Latvian financial and capital market. Experts also notice that Latvian securities market does not provide so many opportunities. Therefore the investors should look for the better opportunities in other countries, too.
Monday, the 14th of February 2005
We attract more investments
In 2004 Latvia attracted foreign direct investments for EUR 508.42 million, which is twice more than in 2003, according to the data of the Latvian Bank. However, these data are not exact, as the indexes of the last quarter of the previous year are not summarized yet. Besides, the investments of this period are not evaluated according to their market value.
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