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Estonia: Profit of Baltic Horizon Fund up 29% on year in Q1

BC, Tallinn | May 19, 2019

The net profit of real estate fund Baltic Horizon Fund totaled 2.17 mln euros in the first quarter of 2019, marking a year-over-year increase of 29%.

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Money laundering shifting away from tax havens to US, UK shell structures

ERR News | May 18, 2019

Journalist and kleptocracy expert, Oliver Bullough, said at the 2019 Lennart Meri Conference on Saturday that in money laundering, the trend has long shifted away from tax havens toward shell companies, predominantly in the United States and the United Kingdom.

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The Wall Street Blockchain Alliance Responds to SECs Digital Asset Guidance. Applauds Commission’s Effort While Stating the Guidance Raises New Questions

CrowdFund Insider | May 17, 2019

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European Space Agency opens Estonian satellite data center in Tallinn

BC, Tallinn | May 17, 2019

The data center named ESTHub helps technology companies obtain and process more quickly remote sensing data obtained from space, spokespeople for the Estonian Ministry of Economic Affairs and Communications said. 

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Tallinn to Riga in under two hours, promises Rail Baltica

ERR News | May 16, 2019

According to the initial schedule for the planned Rail Baltica railway, which is expected to be completed by 2026, high-speed trains will depart Tallinn for points south four times per day, reaching Central Riga in one hour and 42 minutes at a cost of €38 per ticket.

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Estonia: Finnish SOK group planning 2 new hotels in Tallinn

BC, Tallinn | May 16, 2019

The Finnish retail group SOK, which owns the Prisma Peremarket retail chain and Sokos Hotel Viru, is planning to build two new hotels in Tallinn.

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The state of tech in New York City

City & State New York | May 15, 2019

Despite the loss of HQ2, New York City is better positioned than Silicon Valley to tackle the challenge of public sector engagement.

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HRH The Princess Royal to visit Estonia in May

ERR News | May 15, 2019

Her Royal Highness Anne, The Princess Royal, is to visit Estonia on Thursday, May 30.

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Swedbank shareholders nominate Swedish ex-PM chairman of board of directors

TBT | May 14, 2019

The five largest shareholders in Swedbank AB, who also form the Swedbank nomination committee, have proposed to appoint former Swedish prime minister Goran Persson as chairman of the Swedbank board of directors.

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Ambassador chosen by Trump might have a positive impact on US-Latvia relations - diplomat

TBT | May 16, 2019

RIGA - Career diplomat John Leslie Carwile, whom President Donald Trump has picked for the United States’ next ambassador to Latvia, might have a positive impact on US-Latvia relations, Latvia’s former ambassador to the US and current Ambassador to Russia Maris Riekstins.

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Citadele Index: for the first time business owners have a positive view on taxes

TBT | May 16, 2019

Latvian business owners have positively rated the tax payment and administration process. Meanwhile, tax rates are seen as convincingly negative, according to the latest Citadele Index survey of business owners conducted by Citadele Bank and SKDS.

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Grindex plans to achieve EUR 300 million in turnover in five years

BC, Riga | May 15, 2019

Latvia’s Grindex pharmaceutical company plans to achieve a EUR 300 million turnover in five years.

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Spanish duo chosen to design Rail Baltica’s Latvian section

GCR | May 14, 2019

Two Spanish companies, Idom Consulting and Ingeniería y Economía del Transporte (Ineco), have been awarded a €13m contract to design and supervise the Baltic high-speed line in Latvia.

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Financial watchdog after meeting with FinCEN does not see problems in implementation of ABLV Bank liquidation

BC, Riga | May 13, 2019

The Finance and Capital Market Commission (FKTK) after meeting with representatives of the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury does not see any obstacles for implementation of the ABLV Bank’s liquidation model.

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Latvian bioeconomy: challenges, perspectives and solutions

BC | May 13, 2019

Bioeconomy’s share in Latvian GDP has reached already about 15 per cent. But the sector has huge potentials both in the national structural development and in its regional transformation. And the sector’s role will increase in the future: hence the attention to biomass’ exploration and management, as well as to educational issues in bioeconomy and sustainability policy.

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Estonia: Merko signs EUR 5 mln amendment to contract for construction of Vilnius hotel

BC, Vilnius | May 19, 2019

The listed Estonian builder Merko Ehitus is to carry out additional work in the amount of 5 mln euros in the establishment of the Neringa hotel building in Vilnius.

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Lithuania to build 3 compensators for grid synchronization with Europe

BC, Vilnius | May 17, 2019

As Lithuania, Latvia and Estonia prepare to synchronize their power grids with the Continental European network, three synchronous compensators are to be built in each of the three Baltic countries to ensure frequency stability.

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EBRD invests 30 mln EUR in Baltic green property fund

BC, Vilnius | May 16, 2019

EBRD invests EUR30 mln in Usaldusfond EfTEN Real Estate Fund 4. Fund to support investment in sustainable measures across the Baltic states. First property fund in the region to include climate considerations in its investments.

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Lithuania: Smart Energy Fund together with Honda invested in the leading smart battery company Moixa

BC, Vilnius | May 15, 2019

Smart Energy Fund powered by Lietuvos Energija (Lithuanian Energy), and managed by Contrarian Ventures along with Honda, Japanese automobile manufacturer, and other partners invested in Moixa, UK-based company developing smart energy storage devices and virtual power plants technologies.

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IKEA starts testing e-trade system in Lithuania

BC, Vilnius | May 15, 2019

Swedish furniture producer and seller IKEA has started testing an e-trade system. At this stage, registered consumers and members of the IKEA FAMILY loyalty program have the possibility to buy online.

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Baltic Post to be merged into Lithuanian Post

Delfi | May 10, 2019

Baltic Post, a subsidiary of Lietuvos Pastas (Lithuanian Post), is being merged into the state postal company as part of a reorganization that is planned to be completed in July.

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Lithuanian Railways gears up for Rail Baltica development

BC, Vilnius | May 10, 2019

Lithuania's state-run railway company Lietuvos Gelezinkeliai (Lithuanian Railways, LG) is getting ready for further construction of the European standard-gauge railway Rail Baltica. Preparatory works involve the modernization of the section from the Lithuanian-Polish border to Kaunas (Jiesia), the development of the Kaunas railway node and the construction of depots for infrastructure maintenance.

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