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  • Controversial Citadele bank sales agreement signed
    A new board was elected at the Privatization Agency this week Vladimirs Loginovs and Girts Freibergs Thus the Privatization Agency became fully functional and able to sign the Citadele sale agreement In 2008 joint stock Parex banka was the second largest bank in Latvia with total assets of 4 9 billion euros It had been very active in the Commonwealth of Independent States which was severely hit by the financial crisis This resulted in a loss of confidence in Parex and a subsequent run on the bank in 2008 with a 36 percent fall in deposits as compared to end 2007 In November 2008 Latvia notified a package of rescue measures in favor of Parex The Commission temporarily approved the measures in November 2008 based on Latvia s commitment to submit a restructuring plan In May 2009 the Commission approved amendments to one of the measures In July 2010 Latvia notified a restructuring plan for Parex which the Commission approved in September 2010 The plan included a split of Parex into a newly established good bank Citadele banka taking over all core and some non core assets and a bad bank Parex later renamed Reverta which kept the remaining non core and non performing assets In August 2012 the Commission approved amendments to the restructuring plan The agreement with the European Commission stipulates that Citadele must be sold before the end of 2014 If the Latvian government fails to do so the European Commission will most likely take over the process and sell the bank swiftly and most probably for a very low price Comments Related Articles Wounded Ukraine soldiers arrive in Latvia for treatment video Lithuania spy leaked NATO secrets to Belarus Riga named among hipster capitals in the world Subscribe Advertise Log In Please enter your username and

    Original URL path: http://www.baltictimes.com/news/articles/35726/ (2016-02-13)
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  • Tallinn bans alcohol sales on Sundays in effort to cut drinking numbers
    country Critics say the new law will drive away tourists from the capital The restrictions take Sweden and Norway as role models where alcohol retail sales are restricted at weekends The ban will come in to force in Tallinn in March 2015 The city government plans have been strongly criticized by trade catering enterprises and accommodation facilities who estimate it will affect the tourists most and the restriction may result in people hoarding alcohol at home instead Plans also include that the minimum general space of a store that can sell strong alcohol has to be at least 150 square meters Stores will have to be located less than 50 meters from schools and kindergartens Alcohol sales would also be completely banned in petrol stations under the new plans Edited by Rayyan Sabet Parry Comments Related Articles Wounded Ukraine soldiers arrive in Latvia for treatment video Lithuania spy leaked NATO secrets to Belarus Riga named among hipster capitals in the world Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Lithuania s foreign minister dialogue with Russian society key Estonia Lithuania UK Denmark call for EU action on Russian information warfare Latvia refuses to join Latvian Muslim fighing in Syria say security service Estonia tops world internet freedom list Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia and Lithuania Born of a merger between The Baltic Independent and The Baltic Observer in 1996 The Baltic Times continues to bring objective comprehensive and

    Original URL path: http://www.baltictimes.com/news/articles/35725/ (2016-02-13)
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  • Lithuania to post fastest growth in Baltics, new report shows
    year will be 1 1 of GDP it will be 1 2 of GDP in 2015 and will reduce to 0 9 of GDP in 2016 The European Commission s Directorate General for Economic and Financial Affairs said in its autumn forecast that it expects a continued decline in unemployment and the decline in government debt below 10 of GDP in Estonia Estonia s economic growth this year has been boosted by domestic consumption while export growth has slowed down Consumption will continue strong growth next year according to the forecast supported by the growth in real income due to tax rate reductions and increases in family allowances The average salary is forecast to increase 5 2 this year as well as in 2015 Our inflation is forecast this year to be 0 7 next year 1 6 This means that real increase of wages can be expected to continue Estonia s general government sector structural deficit is forecast by the European Commission to be 0 8 of GDP in 2014 The deficit shrinks to 0 7 in the next two years if fiscal policies are not changed Comments Related Articles Linkevicius to replace Grybauskaite at London conference Ukrainian NSDC Secretary Russia waging hybrid warfare on EU Lithuanian Health Minister to resign over corruption scandal Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles NATO to bolster presence in Eastern Europe Lithuanian Foreign Minister slams Ukraine over insufficient anti corruption measures Refugee family relocated to Latvia left one child behind in Eritrea Report NATO would lose against Russia in invasion of Baltic states Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with

    Original URL path: http://www.baltictimes.com/news/articles/35724/ (2016-02-13)
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  • New Latvia government gets to work in first session
    your great four year examination which will be judged by the strictest of juries your voters said Andris Berzins cited by Latvian public media Another important challenge will be Latvia s presidency of the Council of the European Union which will offer a chance to demonstrate the country s ability to take responsibility President Berzins said One of the most pressing tasks for the new Saeima is the next year s budget Its priorities should concern security quality education and accessible healthcare LETA reports Pro Russia party Harmony has won the largest number of seats 24 in Latvia s government following elections on October 4 The Unity political party has 23 seats Union of Greens and Farmers 21 All For Latvia For Fatherland And Freedom LNNK VL TB LNNK 17 the Alliance of Regions of Latvia eight and For Latvia From The Heart seven Unity MP Dzintars Zakis has temporarily suspended from his party membership following reports of alleged vote buying in the Latgale province Edited by Rayyan Sabet Parry Comments Related Articles Wounded Ukraine soldiers arrive in Latvia for treatment video Lithuania spy leaked NATO secrets to Belarus Riga named among hipster capitals in the world Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Lithuania s foreign minister dialogue with Russian society key Estonia Lithuania UK Denmark call for EU action on Russian information warfare Latvia refuses to join Latvian Muslim fighing in Syria say security service Estonia tops world internet freedom list Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that

    Original URL path: http://www.baltictimes.com/news/articles/35723/ (2016-02-13)
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  • NBA star loses Lithuanian citizenship after landing US passport
    Lithuanian citizenship after being granted a US passport Lithuanian television reports Ilgauskas who plays for NBA club Cleveland Cabaliers received a US passport and under Lithuanian law will have to revoke his Lithuanian citizenship Lithuanian laws provide for owning dual citizenship only in exceptional cases if a person fled from the Soviet regime or is a child of deportees Those who are born abroad or take citizenship through marriage are also allowed to hold dual citizenship Nationals of other countries may be granted Lithuanian citizenship for merit by the president so Ilgauskas may need to address to President Dalia Grybauskaite to solve the issue Edited by Rayyan Sabet Parry Comments Related Articles Wounded Ukraine soldiers arrive in Latvia for treatment video Lithuania spy leaked NATO secrets to Belarus Riga named among hipster capitals in the world Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Lithuania s foreign minister dialogue with Russian society key Estonia Lithuania UK Denmark call for EU action on Russian information warfare Latvia refuses to join Latvian Muslim fighing in Syria say security service Estonia tops world internet freedom list Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia and Lithuania Born of a merger between The Baltic Independent and The Baltic Observer in 1996 The Baltic Times continues to bring objective comprehensive and timely information to those with an interest in this rapidly developing area of the Baltic Sea region Read more Our news analysis and commentaries provide

    Original URL path: http://www.baltictimes.com/news/articles/35721/ (2016-02-13)
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  • More troops needed in E.Europe amid Ukraine threat, says NATO general
    Breedlove said He warned that the NATO alliance was nearing a strategic inflection point with Moscow over Ukraine and that seven Russian brigades have nearly done away with parts of the border in eastern Ukraine A Russian convoy reportedly entered eastern Ukraine on Sunday amid rebel held elections Pro Russia rebels conducted elections in Donetsk and Luhansk on Sunday night with significant wins for pro Russia rebel leader Alexander Zakarenchko Western leaders have denounced the elections Baltic officials have been on edge amid the crisis in the Ukraine worried that similar Ukraine style scenario may be repeated in its region Russian foreign minister Sergei Lavrov however blasted NATO for its limitless expansion in eastern Europe and claimed it was breaking the rules Instead of making OSCE a normal organization which would become a real security organization ensuring security for everyone our western colleagues took the course of thoughtless limitless NATO expansion telling us directly that legal security guarantees can only be given to those who join the North Atlantic Alliance Lavrov said in an interview with the Life News TV channel and the Izvestia newspaper cited by Voice of Russia NATO top commander general Philip Breedlove photo creative commons Comments Related Articles Linkevicius to replace Grybauskaite at London conference Ukrainian NSDC Secretary Russia waging hybrid warfare on EU Lithuanian Health Minister to resign over corruption scandal Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles NATO to bolster presence in Eastern Europe Lithuanian Foreign Minister slams Ukraine over insufficient anti corruption measures Refugee family relocated to Latvia left one child behind in Eritrea Report NATO would lose against Russia in invasion of Baltic states Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest

    Original URL path: http://www.baltictimes.com/news/articles/35720/ (2016-02-13)
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  • Baltics condemn ’illegitimate’ elections in eastern Ukraine
    ministries strongly condemned the elections also These acts directly supported by the Russian Federation is a gross violation of Ukraine s territorial integrity contradicts international law the laws of Ukraine and the 5 September Minsk agreement These acts do not allow the citizens of Donetsk and Luhansk regions to express their political will freely The autonomy based on such farce elections will have no democratic legitimacy Lithuania s Ministry of Foreign Affairs said The rebel organizers dismissed Kiev s criticism reports Radio Free Europe as cited by the Christian Science Monitor Kyiv should put up with the fact that the Donbas is no longer part of Ukraine said Roman Lyagin a separatist election official in Donetsk using the term to describe an industrial section of eastern Ukraine that partially coincides with the territory held by pro Russian rebels Whether they acknowledge the expression of our will or refuse to recognize it that is Kyiv s business We have decided it all for ourselves he said at a news conference after declaring Zakharchenko the victor Comments Related Articles Wounded Ukraine soldiers arrive in Latvia for treatment video Lithuania spy leaked NATO secrets to Belarus Riga named among hipster capitals in the world Subscribe Advertise Log In Please enter your username and password Forgot your password Login Related Articles Lithuania s foreign minister dialogue with Russian society key Estonia Lithuania UK Denmark call for EU action on Russian information warfare Latvia refuses to join Latvian Muslim fighing in Syria say security service Estonia tops world internet freedom list Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an

    Original URL path: http://www.baltictimes.com/news/articles/35719/ (2016-02-13)
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  • News search
    insolvency process begins TALLINN A legal process in Latvia that is many times associated with systemic corruption be Read More Office properties big movers in 2014 RIGA The total amount of investments in commercial property in the Baltic States reached 385 Read More Long slog ahead with Russia warns Mikser TALLINN Estonian Defense Minister and Chairman of the Social Democratic Party Sven Mikser s Read More Business briefs The record breaking Post Panamax category container ship Piera left Klaipeda Seaport on Sept Read More Agreement reached on next Rail Baltica phase VILNIUS A joint Rail Baltica Memorandum on the founding of the company will be signed in Oct Read More Ripplewood Holdings group named as Citadele buyer RIGA The European Bank for Reconstruction and Development EBRD said it welcomes the decisi Read More NATO to build regional control centers VILNIUS NATO will set up regional centers in a handful of Eastern European countries Lithua Read More Rukla to receive new U S troop rotation VILNIUS A new rotation of U S soldiers to be deployed in Lithuania with heavy combat equip Read More Previous 172 173 174 175 176 177 178 179 180 181 Next Subscribe Advertise Log In Please enter your username and password Forgot your password Login Subscribe A subscription to The Baltic Times is a cost effective way of staying in touch with the latest Baltic news and views enabling you full access from anywhere with an Internet connection Subscribe Now About The Baltic Times The Baltic Times is an independent monthly newspaper that covers latest political economic business and cultural events in Estonia Latvia and Lithuania Born of a merger between The Baltic Independent and The Baltic Observer in 1996 The Baltic Times continues to bring objective comprehensive and timely information to those with an interest

    Original URL path: http://www.baltictimes.com/search/jcms/start/1710/ (2016-02-13)
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