Finance

Interview: Mohammed Berro, Chief Executive Officer, Emirates NBD Egypt

Emirates NBD Egypt is one of the largest banks operating in Egypt excels in premier banking and pioneers in digital banking. It is an essential stakeholder in financing mega infrastructure projects and development initiatives in Egypt. Emirates NBD Egypt is a wholly owned subsidiary of Emirates NBD Group, a leading banking group in the region. …
United Nations Global Compact Profile

Launched in 2000, the United Nations Global Compact (UNGC) is a global initiative that serves as a call to companies to align strategies and operations under the framework of the 10 UNGC Principles on Human Rights, Labor, Environment and Anti-corruption. Today with more than 9,500 business and 3,000 non-business organizations based in 160 countries and…
Serbia: An impressive turnaround

Serbia aims to boost private sector-led growth through reforms. According to the estimates of the Statistical Office of the Republic of Serbia, the nations GDP in real terms increased by 1.9% in 2017. The International Monetary Fund estimates Serbia’s projected Real GDP growth for 2018 will reach 3.5%. Overview: Serbia has successfully stabilized its economic…
Serbia: Solid banks support growth

The sector is well-capitalized, liquid and harmonized with EU legislation Financial sector reforms have been pursued vigorously. Banks are on a sound footing and continue to support growth. The banking sector comprises over 90% of the total assets in the financial sector. Over the last several years significant restructuring has been undertaken to improve the…
Serbia: Transport – Interconnecting Southeast Europe

Mass investments aim to support and ease transit The sector is one of the fastest developing branches of the economy in Serbia. Value of ongoing projects in infrastructure is EUR 5 000 million. Needs for future transport plans is EUR 6 000 million. Serbia’s strategic location at the crossroads of European traffic Corridors offers great…
Serbia: EU accession accelerating

Serbia is one of the most advanced countries in the process. Serbia is a small and open economy in South Eastern Europe. The nation’s development is considerably below the European average, while by growth it is one of the fastest developing countries in Europe. Growth potential in Serbia is tremendous in every segment of the economy.…
Interview: Aigars Rostovski, President, Latvian Chamber of Commerce and Industry (LCCI)

Historically what have been Latvia’s most important economic drivers? Traditionally our biggest sector has been wood and timber produced from by our forests. They cover more than half of Latvia. Forests are referred to as Latvia’s “Green Gold.” A second historically strong sector is manufacturing, in Soviet times Latvia was an industrial hub. A third…
Interview: Ilona Lice, CEO, Riga International Airport (RIX)

How do you assess the growth of the aviation sector? The Baltic economy will continue to be characterized by its steady and sustainable progress. The aviation sector accounts for roughly 2.5% of GDP, and cautious, and conservative estimates forecast a growth of 3%. During the past five years, we have invested EUR 154.2 million in the…
Latvia: An essential global strategic transit hub

The success of Latvia’s transport sector lies on a series of favorable circumstances. Latvia’s geographic location with access to both Russian and EU markets and its excellent infrastructure are the pillars of this success. Being located on the external border of the European Union, Latvia has quality infrastructure connecting the country to the Russian Federation,…
Latvia: ICT sector surpassing 4% of GDP

The turnover of the ICT sector is estimated at EUR 3 400 million, accounting for 4% of the total GDP. Approximately 6 200 companies operate within the sector. ICT related services, software, hardware, and telecom sub-sectors have grown significantly in recent years. The exportation of foreign-sourced computer hardware and software are a significant share of…
Martins Vanags, Managing Director, Skanste Development Agency, on creating Riga’s central business district

In the Riga City Development Strategy for up to 2030, the Skanste neighborhood has been defined as a priority territory: the central business district of the capital, a platform for European-scale events and a quality life and work environment for many thousands of Rigans. Next to the Historic Center and the “Quiet Center” of the…
Latvia: An evolving global financial hub

Local demand for global financial services is limited. The banking sector makes up 90% of assets within Latvia’s financial system. The insurance sector represents 2.4% of assets while the State-funded pension scheme around 5%. Banks dominate the financial sector of Latvia, and Scandinavian banks have the dominant share of the domestic market. Latvia’s financial sector…
Country Profile: Latvia

The Republic of Latvia is a small country in Northern Europe and one of the three Baltic States. Latvia is a small open economy, and its exports account for the majority of its GDP. Due to the strategic geographical position of Latvia, the transport and transit sector is highly developed. Latvia became a success story…