Gene Zolotarev

A career of Gene Zolotarev consists of 20 years spent in the investment and asset management area. During all this time he has held senior positions in the largest Baltic, US and Russian investment...

Wed, 7 Sep 2011: Brigmanis says airBaltic can go…

However, when assessing the opportunities, it is also necessary to take into account the state’s financial opportunities and ability to ensure adequate management of the airline,” he e...

Wed, 18 May 2011: Latvia shoots for 2.5 percent deficit…

Bicevskis confirmed that next year, Latvia will resolve to keep its budget deficit below 3 percent of gross domestic product (GDP) and will try to reach a 2.5 percent budget deficit. The governmen...

Wed, 11 May 2011: Parex ends syndicated loan debacle…

It proves gradual economic recovery of Latvia and the correctness of the strategy chosen for tackling problems in the banking sector, said Gwilliam. According to Parex Bank’s restructuring...

Wed, 2 Mar 2011: Disgruntled shareholders claim rights…

The value of investment by Parex Bank minority shareholders has reduced significantly since the government bailed the bank out in 2008. The transfer of Parex Bank so-called ‘good’ as...

Wed, 8 Dec 2010: Parex sticks to plan…

30 this year, total assets - 859.7 million lats and 866.4 million lats, respectively. Capital and reserves were 74.5 million lats for Parex bank and 78.4 million lats for Parex Group. Taking int...

Wed, 18 Aug 2010: Recovering Parex investments a ‘long shot’…

This can only be done through maximizing the value of the bank’s assets. Selling the bank is not realistic at the moment, said Gwilliam. He also said that the restructured Parex bank had b...

Wed, 19 May 2010: State to wait for payoff…

The sum of the loans is not specified in the agreement; however, according to the provisions, part of this money will immediately return to Parex. As previously reported, Rietumu bank and Parex h...

Thu, 8 Apr 2010: Investors scramble after Parex assets…

It is hoped that as the global economy rebounds, some or all of these assets can recover their value and the State, or the taxpayers, can recoup the ‘investment.’ The Latvian governm...

Wed, 24 Feb 2010: Parex requests new syndicated loans…

There is a lack of lending, a void in the banking business.” Waiting until after October’s parliamentary elections to sell Parex would be the “biggest mistake anyone could mak...

Wed, 29 Jul 2009: EBRD says more restructuring needed for Parex …

The EBRD will buy 25 percent plus one share in the bank. He remains cautious that in today's economic climate, "it will be very hard to find strategic partners that will be able to make investment...

Thu, 23 Jul 2009: EBRD to acquire stake in Parex bank …

The bank continued its losses into the first quarter of this year, reporting 6.9 million lats in the red. In cost cutting moves, total staff costs are expected to be reduced by 38 percent, or 16 m...

Thu, 14 May 2009: Parex Bank to restructure…

"We need to centralize support functions and insure that they give services to those who work with clients according to market principles," said Melngailis. Parex Bank will still offer its usua...

Wed, 25 Mar 2009: Latvian businesses to receive 200 million euros from EBRD…

The specific amount of the financing would depend on the needs of the company. Freeman pointed out that the EBRD policy was to provide support to private businesses and aid in development. In 80 t...

Wed, 10 Dec 2008: Nils Melngailis named new Parex CEO …

"I hope that I will be able to help in this situation to manage and stabilize the situation in the bank and raise the necessary funds so that not only Parex Bank can continue to operate successfu...

Wed, 19 Nov 2008: Parex Bank posts losses “tens of millions” …

We still have to work with non-residents," he said. The bank, which is poised to be taken over by the Latvian government, will continue functioning and even reports new accounts being opened. FKTK...

Wed, 5 Nov 2008: Parex Bank registers massive bonds …

The board of the Finance and Capital Markets Commission decided to register the 53,500 bonds, issued by Parex Bank, for listing on the stock exchange, with the face value set at 100 euros for one...

Wed, 23 Jul 2008: Hansabank: negative growth ahead…

Though the slowing global economy is impacting export growth, "Economic recovery will be mostly driven by exports, as the drop in domestic demand will be steeper and longer, and a significant inc...

Wed, 19 Sep 2007: New York finance group to lead Latvia’s 427 million euro telecom deal…

Nils Melngailis, CEO of Lattelecom, said that of the 300 million lats (427 million euros) needed to pull off the deal, approximately 200 million will come from a syndicate of banks, while Blacks...

Wed, 4 Jul 2007: Parex secures record syndicated loan …

"We are proud to be the first Latvian private bank to enter this market and delighted to once again set the market benchmark with this record-breaking amount of 500 million euros as the largest ...

Wed, 27 Sep 2006: Latvia: Ventspils Nafta, Russia best partner…

Representatives from at least 10 companies and investment funds expressed interest in buying Ventspils Nafta during the London road-shows, which were organized by Parex Bank and IBT Suprema. Peter...

Thu, 7 Sep 2006: State agency approves Ventspils Nafta sell-off …

Under the plan, which was also approved by Latvijas Naftas Tranzits, the largest shareholder of Ventspils Nafta, the 38.62 percent stake will be sold via a so-called Dutch auction in various lots....

Wed, 30 Aug 2006: Oil terminal sale ready for approval …

The final sale price will be the highest by which all shares can be sold. All shares will be sold during one trading session on the Riga Stock Exchange. Martins Jaunarajs, head of Parex Bank's i...
?php get_sidebar(); ?>