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Highlights
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%.
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.
CrowdFund Insider | May 17, 2019
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 ikea.lt consumers and members of the IKEA FAMILY loyalty program have the possibility to buy online.
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.
The Baltic American Chamber of Commerce (BACC) is a membership based organization for business facilitation between the U.S. and the Baltic States (Estonia, Latvia and Lithuania).
Member Briefings
Artificial Intelligence, Robots, Reskilling & Ethics – Fourth Revolution Board of Director Imperatives & the Chair's Evolving Role. Littler | May 9, 2019 By Rick Haythornthwaite and Natalie Pierce Read >> Download PDF
Scrubber financing & enforcement. WFW | Apr 12, 2019
WFW experts examine the various finance scenarios for scrubbers in anticipation of IMO 2020.
IMO 2020 sulphur requirements: Key contract issues for shipowners to consider. WFW | Apr 12, 2019
WFW experts look at the key issues for shipowners in contracts for the acquisition, transport, installation and commissioning of scrubbers to meet IMO 2020 sulphur requirements.
2019 US Tax Deadlines for 2018 calendar year returns. Jason Mathew from USTAXFS provides a list of 2019 US tax deadlines to note for 2018 tax returns.
Top 5 2018 US Tax Return Changes. By Patricia Lydon from USTAXFS. This is a brief summary of some 2018 US tax return changes that may affect your tax return.
Federal Court Rules Refunded NYS Brownfield Tax Credits Are Taxable Federally. Hodgson Russ | May 7, 2019 Environmental Law Alert by Hodgson Russ LLP Read >>
OMIG Issues the 2019-2020 Work Plan. Hodgson Russ | May 7, 2019 Home Care Alert by Hodgson Russ LLP Read >>
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