Business directory for enterprises in market of Latvia

Business directory for enterprises in market of Latvia

Artis Zelmenis just finished a huge milestone in www.artiszelmenis.lv development.

This website is aimed to business opportunities for companies and individuals.

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ABLV Bank says LVL 10.9 millions in 9-month profit

Latvia business: ABLV Bank says LVL 10.9 millions in 9-month profit

ABLV bank

The bank's operating income before allowances for credit losses totaled LVL 48.7 million at the end of September, writes LETA/Nozare.lv.

The total amount of investments at ABLV Bank reached LVL 1.87 billion. Since the beginning of the year, the amount of deposits has grown 16.4%.

As of September 30, the bank’s assets amounted to LVL 2.09 billion.

During the first nine months of the year, the bank’s loan portfolio increased to LVL 476.2 million. ABLV Bank notes that the bank's approach to crediting remains highly conservative – its loan portfolio constitutes 22.8% of the bank’s total assets.

Necessary allowances made under the loan portfolio and other assets amounted to LVL 56.4 million.

The bank’s capital and reserves amounted to LVL 100.9 million. As of December 31, 2011, the bank’s capital and reserves stood at LVL 90.1 million.

As of September 30, 2012, the bank’s capital adequacy ratio was 15.08%, whereas liquidity equaled 66.22%. ROE reached 15.01%, ROA – 0.73%.

ABLV Bank group also includes ABLV Capital Markets, ABLV Asset Management, ABLV Transform Partnership, ABLV Consulting Services, ABLV Corporate Services, New Hanza City and others.

ABLV group has offices in Moscow, St. Petersburg, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku and Tashkent.

Needles to say banking is one of best investment in economics. If you're thinking of investing in Latvia then this is a green light to do it!

Author: Artis Zelmenis

World currency - the gold price and devaluation

Sponsored article: Baltic Legal sponsorship

World currency - the gold price and devaluation

World currency long time has not been covered by gold, a so called gold standard. Thus increasing overall inflation rates by multiplied times, because money can be printed out of nowhere.

Today (November 20th, 2012) gold price

Today one ounce of gold price is exactly 1732.9 United States Dollars. I will cover different nations with different economical situations throughout world and their currencies related to gold and USD.

Whats wrong with dollar?

Is American dollar failing?

Federal Reserve is American privately owned banking system. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.

What happened in panic of 1907 year?
Panic occurred, as this was during a time of economic recession, and there were numerous runs on banks and trust companies. The Panic of 1907 was a financial crisis that occurred in the United States when the New York Stock Exchange fell almost 50% from its peak the previous year.

Federal Reserve is the one controlling USA dollar thus meaning almost entire worlds currencies.

Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system.

So it is a crisis, we put in force a private bank, then there is another crisis, yet greater then before, then we make some changes. And after all, comes this:

Latvia and Estonia agree on joint position on EU budget - review of news in Latvia

Latvia and Estonia agree on joint position on EU budget - (reviewed)

On November 09, 2012 Baltic Times wrote:

RIGA - At a meeting in Estonia yesterday, Latvian President Andris Berzins and Estonian President Toomas Hendrik Ilves were of the same opinion on all the key matters that dealt with the European Union's multiannual budget

What actually are these "matters"? And how Baltic States sees them self in European Union?