Wed, 19 Jan 2005: Rimsevics: repeg of lat goes smoothly, inflation to fall…

He reiterated that the rate of 0.702804 lat per 1 euro, established by Europe's central bank, was largely favorable to Latvia's economy. "The estimate of possible gains and losses should take acco...

Thu, 23 Oct 2003: Banking briefs…

15, and the price per share will be higher than that of the previous emission, or 2.10 per share. According to a bank statement, this will be the last emission for a while, or at least until Parex...

Thu, 23 Oct 2003: In Lithuania, the state eats for all…

New issues are released for three to 10 years only."The maturation period has become increasingly longer over time. We have mostly eliminated the one-year bills," says Arvydas Kregzde of the Bank ...

Thu, 6 Feb 2003: Swedish owners sack textile CEO…

"Virkebau understood well that employer and trade union must be partners."The announcement came as a surprise to the Narva City Council as well, and government spokesman Ants Liimets said Virkebau...

Thu, 21 Oct 1999: Rigas Komercbanka lives under a new name…

18 that the bank, based on Smilsu Street in Riga's financial district, will hang out a new shingle bearing Pirma Latvijas Komercbanka - First Commercial Bank of Latvia - or PirmaBanka. "This bank...

Thu, 9 Sep 1999: Macroeconomic news makes markets nervous…

Instead, it was more in line with the style employed by the British tabloids. The report was based on anonymous sources and pinned the reason for devaluation on the business interests of Latvian P...

Thu, 29 Jul 1999: Depositors to decide Komercbanka’s fate…

"If we don't get those 6.3 million lats, and there is no result after this meeting, I will have nothing else to do but start liquidation. I can't allow the current situation to go on indefinitely ...

Thu, 8 Jul 1999: IFC to assist SMEs with loan to Vilniaus Bankas…

"The loans, with a maturity ranging from two to seven years, will be granted to private companies with total assets not exceeding 60 million litas ($15 million)," explained Niedvaras. "Currentl...

Thu, 1 Jul 1999: Will the real litas please stand up? …

Lithuania's central bank and Finance Ministry, however, shed light on which direction they plan to send the litas. No repeg rushArguments about whether Lithuania should repeg its litas from the U....

Thu, 21 Jan 1999: IMF figures alarming…

Lithuania's Baltic sisters, Estonia and Latvia, each ended up with more palatable 1998 forecasts of 9.1 percent and 5.5 percent respectively. The figures forecast for Lithuania even managed to mak...

Thu, 23 Jul 1998: China, Latvia optimistic about future …

Jaixuan stressed that China is ready to develop relations with Latvia on the basis of mutual understanding. Latvia's decision to open an embassy in Peking this fall was hailed as a positive move. ...
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