DOCSLIB.ORG

Finance in Latvia #1

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Finance in Latvia #1 K O H C C B N A L I K O H C C B N A L I Looking into the future of tech on the crossroads of hype and hope 8 Finance in Latvia Issue § 1 , September 2018 The biannual magazine of the Finance Latvia Association As a result of the development of the finance industry and growing cooperation between participants in the sector, as well as the sustained creation of innovations in financial technology, the Association of Latvian Commercial Banks has expanded its activities and this summer became the Finance Latvia Association. The organisation’s development strategy states its aim of becoming a broad platform for cooperation between finance, technology and related industries, as well as for interest representation in Latvia, the Baltics and Europe. Established in 1992, it is one of the oldest and most experienced business organisations in Latvia. Doma laukums 8A-6, Riga, lv-1050, Latvia +371 6728 4528 [email protected] Edited by Copywriter (writer.lv) Designed by Alexey Murashko © Finance Latvia Association, 2018 THE MESSAGE Living up to the growing challenges “The Baltics punch above their weight”. This was the his is a time of rapid local and global de- conclusion of a Tech.eu study called An Exploration of velopment in many spheres, where the the Startup Ecosystems, published last December. And boundaries between the finance sector, financial and other services, and the regu- indeed, as European Commission Vice-President Valdis latory environment are being blurred. So Dombrovskis put it during one of this year’s major it’s not surprising that the Finance Latvia tech-related forums, ”the Baltics are among the EU’s Association is also going through a trans- FinTech leaders, thanks to the early adoption of digital formation of its own. As cooperation and openness are T the key factors in ensuring sustainable development in technology, a sense of entrepreneurship, and growing finance and its related industries, we are now welcom- cross-border cooperation, to name a few factors.” ing financial technology companies, financial service Being at the forefront fuels new ideas and further providers and companies from related industries to development. But it also places added responsibility on join the cause. Due to these changes, the need for plat- us to become ever more agile and innovative, and at the forms such as this magazine has been steadily growing same time more risk-conscious. over the last few years. Every member of society must be able to receive first-hand information about topical issues and challenges, and what to expect from them. Over the last year we have focused on the associa- tion’s three priorities as reflected in our vision state- ment: development, technology and compliance. While fostering development the challenge has been to find new sources of growth, e. g. to expand the provision of services for the local economy. This has in turn meant a greater need for digital service development, for com- pliance and for establishing a clear vision of excellence for the next three years. We must note that the industry According to the latest is still addressing issues stemming from the fact that research from Citadele until 2014 banks focused on clients from CIS coun- Bank, 81% of respondents tries, often taking on excessive risk. A real challenge surveyed in Latvia believe lies in accelerating this process. We have developed, that innovative digital approved and introduced Policy Guidance and Guide- services help save time. lines on AML, Countering Terrorism Financing and This high level of digital Enforcement of Sanctions, as well as GDPR compli- savviness in the local market, ance guidelines. We have been actively monitoring and as well as the fast pace ensuring implementation of these guidelines, stress- Guntis Beļavskis, of global technological ing that any related decisions be made in the interests Chairman of the development, has of the public and financial sector as a whole. Finance Latvia already given a boost to Boosting innovation in the region is the main focus Association Council entrepreneurial energy in of this first issue of Finance in Latvia. Last December, and Chairman of the the Baltics. Therefore, it is the Association approved the Open Digital Finance Management Board vital to establish a strong Framework, which promotes a vision of Latvia being at Citadele Bank platform for cooperation at the forefront of Open Digital Finance in the EU by among all parties involved. the end of 2022. According to a survey commissioned This includes regulatory by Master Card (Nordic Fintech Disruptors Report 2018), convergence — aligning the Nordic and Baltic markets already have an impres- legislation across the sive track record of creating FinTech companies that Baltics — so that companies succeed regionally and globally — ​indeed, over half of operating in all three Europe’s FinTech success stories originated in the Nor- countries can leverage the dic and Baltic region. And with the rapid regulatory strengths of these markets changes at local and EU level, we intend to strengthen as an effective springboard this leading position, bringing on board the right part- for working further afield. ners and facilitators needed to reach this goal. ● ON THE RADAR — 6 — A drive to transparency Compliance with sanctions, the with all our improving control systems and various strategies and business regulatory and legal requirements as well. models used by banks, risks in However, it is absolutely clear that the price of mistakes would be extremely high, so no dealing with shell companies — ​ precaution is too great. these topics have been on the minds of those involved with Sanctions, sanctions, sanctions Latvia’s financial industry for a few Understanding sanctions is one of the months now. This eventful year areas that should be focused on. Not only Uldis Upenieks, because there are so many and the list tends Co-chair of the Finance has made everyone realise that an to grow while you’re looking at it, and thus Latvia Association acceleration of the transparency one should be vigilant to ensure that sanc- Compliance and Control measures whose implementation tions are not being violated today even if Committee, Chief was begun last year was a prudent everything seemed to be OK yesterday, but Compliance Officer step; however, even more effort also because there is no definite checklist and Member of the given on a customer’s or a deal’s evaluation. Management Board at is going to be needed in order to So every bank needs to assess the risk on Citadele Bank advance in that direction. Uldis its own and make the decision about each Upenieks and Juris Bogdanovs, transaction going through it. What does the the two co-chairs of the Finance business model look like? Who benefits Latvia Association’s Compliance from it? Where are the cargo deliveries go- ing? If they are going to countries close to or and Control Committee, have bordering countries under sanctions, what come together to give important is the risk of this deal being just the middle insights into the topic. part of a chain that ends in non-compli- ance? And questions of this kind just keep Ensuring the highest standards of compli- piling up. There are three types of sanc- ance throughout the financial sector, and tions: national, international and extrater- the sustainable development of the industry ritorial, and they can be measures against and the whole Latvian economy is only pos- certain persons or companies, or even sible through joint effort. Something that is against whole sectors of an economy. As Juris Bogdanovs, often not understood is that comprehending managing them is extremely complicated, Co-chair of the Finance and complying with sanctions and ensur- it is advisable for companies working with Latvia Association ing efficient KYC procedures is not only international clients to have a sanctions of- Compliance and the responsibility of banks ​— ​in the process ficer or at least to outsource this function Control Committee, of anti-laundering and countering terror- to competent parties. For companies the Head of GSI ism financing all parties must be involved, risk is enormous ​— ​for example, a shipped Investigations in Latvia including companies, clients and govern- order can never be paid, as such a transfer and member of the mental institutions. Yes, this asks for more would be blocked due to suspicion of non- Management Board resources from all these parties, and asks compliance. So, it is advisable for compa- at Swedbank Latvia these parties to once again reconsider the nies to talk to their bank before entering risk appetites, business focus and strategic into a deal, just to make sure the bank is stance of the industry participants. We are satisfied with the client’s understanding fully determined and committed to fighting and the logic behind the compliance. financial crime and protecting the integrity of the financial system while serving our To shell or not to shell? economy and customers in good standing. What are shell companies and why do they We are aware that this will require a con- get so much attention? Companies regis- stantly evolving level of legal and compli- tered across the world ​— ​even in so-called ance sophistication, since, sadly, all kinds offshore zones ​— ​can be created for abso- of “bad guys” ​— ​criminals, cartel members, lutely legitimate reasons. Companies that terrorists ​— ​are also striving to keep up have a real business facility and activity, FInAnCE In LatvIA § 1 — 7 — In October 2017 the Finance that produce or trade things, pay taxes and due diligence and such clients’ risk as- Latvia Association Council regularly submit the reports, have nothing sessment might take too much resources. approved a document on to worry about.
Load more

Recommended publications
  • Advisory Board for the Institute for Online Learning
    Advisory Board for the Institute for Online Learning Agenda and Meeting Materials September 16, 2013 Conference Call AGENDA Advisory Board for the Institute for Online Learning Conference Call September 16, 2013 10:00 a.m. Dial in: 1-888-670-3525 Passcode: 144 275 1317 # Chair: Mr. John D. Rood; Vice Chair: Mr. Carlos Alfonso Members: Mr. Ernie Friend, Dr. John Watret 1. Call to Order and Opening Remarks Chair John Rood 2. Approval of Minutes of Meeting held September 3, 2013 Chair Rood 3. University of Florida’s Plan Provost Joe Glover Associate Provost Andy McCollough University of Florida 4. Performance Measures and Benchmarks Dr. McCollough 5. Concluding Remarks and Adjournment Chair Rood 2 STATE UNIVERSITY SYSTEM OF FLORIDA BOARD OF GOVERNORS Advisory Board for the Institute for Online Learning September 16, 2013 SUBJECT: Approval of Minutes of September 3, 2013, Meeting PROPOSED ADVISORY BOARD ACTION Approval of summary minutes of the meeting held via conference call on September 3, 2013. BACKGROUND INFORMATION Advisory Board members will review and approve the summary minutes of the meeting held via conference call on September 3, 2013. Supporting Documentation Included: Summary Minutes for August 23, 2013 Facilitators/Presenters: Chair John Rood 3 MINUTES STATE UNIVERSITY SYSTEM OF FLORIDA BOARD OF GOVERNORS ADVISORY BOARD FOR THE INSTITUTE FOR ONLINE LEARNING CONFERENCE CALL SEPTEMBER 3, 2013 1. Call to Order and Opening Remarks Chair John Rood convened the meeting at 2:05 p.m. on September 3, 2013, with the following members present: Mr. Carlos Alfonso, Mr. Ernie Friend, and Dr. John Watret. A quorum was established.
    [Show full text]
  • The Smib Mag 2019 - 2020
    THE SMIB MAG 2019 - 2020 10 YEARS AFTER... INTERNATIONAL RANKINGS BUSINESS #7 #3 #5 #8 EDUCATION 2019 European Master in Master in Executive Business School Management Finance Education ESSEC Programs BUSINESS SCHOOL, THE PIONEERING SPIRIT Key fi gures ESSEC is a graduate school with ESSEC is a school with French Roots programs ranging from Bachelor that trains responsible leaders. to PhD, a wide range of Masters Being a responsible leader means programs including our fl agship Master being able to see beyond business in Management and Global MBA as usual. Responsible leaders are programs. ESSEC also o ers executive able to value long-term benefi ts education and custom training over short-term profi ts; they are able 6O,OOO 6,66O designed and developed on-demand to blend corporate performance graduates worldwide students in full-time undergraduate for our partners from the private with employees’ well-being. To and graduate programs sector. ESSEC holds the “Triple crown” prepare its students for the world of of accreditations for global business tomorrow, ESSEC’s pedagogy seeks education: EQUIS, AACSB and AMBA. to awaken and develop creative and critical thinking, together with 4 +1 34% 1O2 Vincenzo Esposito Vinzi At the core of the ESSEC learning the learning-by-doing method. campuses in augmented international nationalities Dean and President experience is a combination of Responsible leaders are those who Cergy, Paris-La Défense, digital students represented of ESSEC Business School excellence and distinctiveness. can see the broader picture. Singapore and Rabat campus ESSEC’s unique educational model is based on education by experiences, ESSEC is a full ecosystem at the that foster the acquisition of crossroad of rigorous and relevant partner universities CREATED IN 19O7, ESSEC cutting-edge knowledge with the research, innovation, business and in 45 countries +1oo development of know-how and life society.
    [Show full text]
  • Riga Technical University Whose Decision Is Irrevocable
    Professional MBA Application and Admission Information Packet In alliance with Admissions to Professional MBA The RBS MBA program recruits the best students, provides them the best management education and helps them get the best careers. RBS selects only the best students of those who apply. This program has international faculty and a professionally skilled student body. The admissions process favors those who want to refine their professional skills and move up the career ladder. Please read the entire application/information packet carefully. Be careful to provide all of the information requested. Incomplete applications will not be considered until all of the requested information has been provided. Questions about MBA Program & admissions should be directed to RBS Admissions Office: Skolas iela 11 Rīga, LV-1010, Latvia Ph.: +371 6 708 9800 Fax:+371 6 708 9810 e-mail: [email protected] Requirements: 1. Bachelor degree (or locally appropriate equivalent) from an accredited (by national authorities) institution. 2. Evidence of fluency in English (if English is not your native language). This can be a TOEFL ITP, TOEFL iBT or IELTS Test 3. RBS Intellectual Test score or GMAT 2 www.rbs.lv [email protected] 4. Professional MBA Application Form If you are submitting a paper application you must submit a completed application. Incomplete applications will not be processed. Please fill in the application form using block letters. 1. Personal Information (Your name must match the one in your passport) Photo Last Name First Name Middle Name Date of Birth Day Month Year Gender Male Female Citizenship Personal code (if applicable) 2.
    [Show full text]
  • Comparison of the Education Systems
    Sustainable Public Buildings Designed and Constructed in Wood (Pub-Wood) 2018-1-LT01-KA203-046963 Comparison of the Education Systems Prepared by Assoc. Prof. Dr Laura Tupenaite (Vilnius Gediminas Technical University) Jan Uwe Wolff (VIA University College) Assist. Prof. Carl Mills (Coventry University) M. Eng. Jari Komsi (Häme University of Applied Sciences) Prof. Ineta Geipele, Janis Zvirgzdins (Riga Technical University) 2019 ERASMUS + Action KA2: Cooperation for Innovation and The Exchange of good practices. Strategic Partnerships Sustainable Public Buildings Designed and Constructed in Wood (Pub-Wood) TABLE OF CONTENTS INTRODUCTION ................................................................................................................................... 3 1. ABOUT UNIVERSITIES....................................................................................................................... 4 1.1. Vilnius Gediminas Technical University .................................................................................... 4 1.2. VIA University College .............................................................................................................. 6 1. 3. Coventry University ................................................................................................................. 7 1.4. Häme University of Applied Sciences ..................................................................................... 10 1.5. Riga Technical University .......................................................................................................
    [Show full text]
  • Academic Integrity in Latvia's Higher Education Institutions
    SSE Riga Student Research Papers 2021 : 6 (238) ACADEMIC INTEGRITY IN LATVIA’S HIGHER EDUCATION INSTITUTIONS Authors: Rūta Ozoliņa Laine Helēna Bēriņa ISSN 1691-4643 ISBN 978-9984-822-62-4 May 2021 Riga Academic Integrity in Latvia’s Higher Education Institutions Rūta Ozoliņa and Laine Helēna Bēriņa Supervisor: Zane Vārpiņa May 2021 Riga Table of contents Abstract 5 1. Introduction 6 2. Literature Review 8 2.1 Academic Integrity 8 2.2 Academic Dishonesty 9 2.3 Academically Dishonest Behaviours 9 2.4 Motivation for Academic Dishonesty 11 2.5 Measurement of Academic Integrity 13 2.6 Ensuring Academic Integrity 15 3. Methodology 18 3.1 Theoretical Framework 18 3.2 Surveys and Sampling 21 3.3 Analysis Method 21 3.4 Interviews 23 4. Results 24 4.1. Sample Description 24 4.2. Dishonest Behaviours 24 4.3. Correlation Analysis 26 4.4. Justifications for Dishonesty 27 4.5. Differences Between Groups 28 4.6. Impacting Factors 29 5. Analysis and Discussion 33 5.1 Most Common Dishonest Behaviours 33 5.2 Influencing Factors 35 5.2.1 Justifications 38 5.3 Suggestions for Reducing Academic Dishonesty 39 5.4 Limitations 41 6. Conclusions 42 7. References 44 8. Appendices 47 Appendix A. Glossary 47 Appendix B. Survey questionnaire 47 3 Appendix C. Data conversion 50 Appendix D. Average engagement in dishonest behaviours 51 Appendix E. Sample and variable description 51 Appendix F. Regression outputs 52 Appendix G. T-test outputs 54 Appendix H. Correlation matrices 55 Appendix I. ANOVA for justifications 55 4 Abstract Academic integrity is a precondition for quality education.
    [Show full text]
  • RTU FEEM and RBS Have Been Highly Appreciated in Eduniversal Ranking
    RTU FEEM and RBS have been highly appreciated in Eduniversal ranking 2nd of December, 2016 Faculty of Engineering Economics and Management (FEEM) and Riga Business School (RBS) of Riga Technical University (RTU) have been highly valued in Eduniversal Business Schools Ranking, for the first time ranking in the 4 palms league that represents Top business schools with significant international influence in business and management education. Overall ranking consists of five palms leagues. Until now, RTU was in the 3 palms league. RTU received the acknowledgement of being awarded 4 palms in the 9th Eduniversal World Convention which was held at Curtin University, Perth, Australia, from 28 November to 1 December and which was attended by RTU rector academician Leonīds Ribickis, Vice Dean for Academic Affairs Inga Lapiņa and Director of the Quality Management and Record Management Department of RTU Juris Iljins. RTU FEEM and RBS are ranked high – in the 4 palms league, which includes 200 business schools with excellent evaluation and significant international influence, moving one league up compared with last year’s rating and affirming the progress of RTU strategic priority execution. The most influential among the business schools in Eduniversal 5 palms league are Harvard Business School, Yale School of Management, Massachusetts Institute of Technology Sloan School of Management. The 9th Eduniversal convention focussed on issues of internationalization of higher education and innovation in business and management education. L. Ribickis participated
    [Show full text]
  • No Title Name Surname Position Organization Country 1 Mr. Damián Eduardo Vázquez Partner Pwc Argentina Argentina Asia Pacific Centre for Sustainable 2 Prof
    No Title Name Surname Position Organization Country 1 Mr. Damián Eduardo Vázquez Partner PwC Argentina Argentina Asia Pacific Centre for Sustainable 2 Prof. Malcolm McIntosh Director Australia Enterprise Australian School of Applied 3 Mr. Damien Farrell Chief Executive Officer Australia Management Prof(FH) 4 Dipl.-Ing. Margarethe Überwimmer Dean FH OÖ Studienbetriebs GesmbH Austria Dr. Vice-Dean International Relations, 5 Mag. MBA Peter Brandstätter Head of Department Leadership & FH OÖ Studienbetriebs GesmbH. Austria Management 6 Ms. Natalia Makayeva Executive MBA program director IPM Business School Belarus 7 Ms. Olga Belskaya Project Manager IPM Business School Belarus ABIS - The Academy of Business in 8 Mr. Simon Pickard Director General Belgium Society 9 Ms. Veerle Deparcq Quality and Accreditation Manager Antwerp Management School Belgium 10 Mr. ANTONIO FREITAS PROVOST FUNDAÇÃO GETULIO VARGAS Brasil 11 Prof. Paulo Cesar Motta Professor IAG-Business School - PUC-Rio Brasil Advanced Institute of 12 Dr. Norman de Paula Arruda Filho President Administration and Economics - Brazil ISAE Director University of Portsmouth 13 Prof. Vesselin Blagoev Program, Program Director for International University College Bulgaria UWIC MBA Program 14 Mr. Michael Minkov Professor International University College Bulgaria The D. A. Tsenov Academy of 15 Ms. Anastasiya Marcheva Associate professor Economics, Departmemt of Strategic Bulgaria Planning Centre for Responsible Leadership, 16 Dr. Tina Dacin Director & E. Marie Shantz Chair Canada Queen's School of Business 17 Mr. Alexander Meyboom Photographer IEDC Canada 18 Prof. Nancy Adler Professor McGill University Canada 19 Dr. Davar Rezania the Chair, Department of Business University of Guelph Canada Beijing Kaixiang Yingsheng 20 Ms. Ying Wang Vice General Manager China International Trading Co.,Ltd Director of human resource Beijing Kaixiang Yingsheng 21 Ms.
    [Show full text]
  • Riga Technical University Faculty of Engineering Economics and Management
    Riga Technical University Faculty of Engineering Economics and Management Sharing Information on Progress Report 2015-2017 Riga, Latvia 1 A word from the Vice Dean for Academic Affairs With our 2016 Sharing Information on Progress In 2008 FEEM became a member of the UN initia- report, Faculty of Engineering Economics and Manage- tive Principles for Responsible Management Education ment of the Riga Technical University confirms its commit- (PRME), paying particular attention to the principles of ment to the Principles of Responsible Management Educa- responsible education and integrating them in the aims, tion. values, methods, study process, science and research, and A professional of the 21st century is a cross discipli- partnerships and social dialogue. We are constantly im- nary specialist. The studies at the FEEM have a clear proving the academic environment to meet the global interdisciplinary character. The study process is oriented challenges. FEEM puts forward the mission of PRME to towards learning by doing or learning by developing and transform management education, research and thought establishment of an integrated theoretical knowledge leadership globally by providing the Principles for Re- base, students develop competencies in new product de- sponsible Management Education framework, developing sign and technology transfer, develop their business ideas, learning communities and promoting awareness about the raise start-up financing and establish spin-off enterprises. United Nations' Sustainable Development Goals. The study programs of FEEM develop competencies Together, students, academic and administrative that make up business processes in any modern organiza- staff, we are a wholesome and powerful team. Only by act- tion, contributing to an increase in customer satisfaction ing together, performing our duties in good faith, respon- which in the long term ensures successful, effective and sibly and with due diligence, we can achieve and fulfil all efficient operation of the organization, thus creating con- the FEEM goals and objectives.
    [Show full text]
  • Liene Dubava Member of the Management Board, Nasdaq Riga, Head of Securities Trading and Listing Department, Head of Issuer Services, Nasdaq Baltic
    Liene Dubava Member of the Management Board, Nasdaq Riga, Head of Securities Trading and Listing Department, Head of Issuer Services, Nasdaq Baltic Since April, 2012 Liene Dubava has become the Head of Baltic Issuer Services by taking over new responsibilities on international level and managing the service providing to all listed companies in Baltic. Liene Dubava has been with the Nasdaq Riga exchange since 2003. Her first position was Issuer Relations Officer and Mrs. Dubava’s day-to-day job responsibilities included the surveillance of the stock exchange issuers as to their compliance with disclosure requirements and educating them on investor relations matters, as well the implementation of corporate governance recommendations. In 2006 Liene Dubava was appointed Head of Securities Trading and Listing Department and in addition to previous obligations – disclosure issues and surveillance of listed companies – she was put in charge of exchange trading as well, the responsibilities now covering member services to banks and brokerage companies, dissemination of market data and other issues. Mrs. Dubava was elected a Member of the Management Board in 2007. Liene Dubava is an active participant of public education initiatives. As a guest lecturer, she addresses audiences in Latvia's higher education establishments and delivers presentations in seminars and conferences in Latvia and abroad that are organized by different institutions, including Latvian Association of Certified Auditors. Liene Dubava has Master's Degree in Economics from the University of Latvia. In 2004 she attended a conference dedicated to information disclosure and corporate governance in Zagreb, Croatia. In 2007 Liene Dubava was issued a certificate for participation in Strategic Management Program at Riga School of Economics.
    [Show full text]
  • Nallan C. Suresh CV
    Nallan C. Suresh Office 351 Jacobs Management Center Residence School of Management 36 Ashbury Court State University of New York, Buffalo, NY 14260 East Amherst, NY 14051 Tel: (O): 716 645 3279 Tel: (C): 716 445 4927 E: [email protected] / W: buffalo.edu/~ncsuresh Current Position • UB Distinguished Professor, Department of Operations Management & Strategy, School of Management, The State University of New York (SUNY), Buffalo. • Associate Director, Stephen Still Institute for Sustainable Transportation & Logistics (ISTL), SUNY, Buffalo. Academic Appointments • Director of Graduate Studies, The Institute for Sustainable Transportation & Logistics (ISTL), SUNY, Buffalo from Sep 2019. • Eminent Scholar - Alico Chair Professor of Operations Management (Aug 2017 – Aug 2018), Lutgert College of Business, Florida Gulf Coast University, Fort Myers, FL. (During a one- year leave of absence from SUNY, Buffalo). • Chair, Dept. of Operations Management & Strategy, School of Management, The State University of New York (SUNY), Buffalo (was Department Chair for 12 years: August 2005 – August 2017). Associate Director (co-Founder), The Institute for Sustainable Transportation & Logistics (ISTL), SUNY, Buffalo (2014-2017) since inception in 2013. UB (SUNY, Buffalo) Distinguished Professor (2008 to 2017) . Department Chair, Operations Management & Strategy (for the last 10 years, since inception of the department in August 2005; currently on fourth term as Chair, running till 2017). Interim Chair, Department of Management Science & Systems, School of Management, The State University of New York (SUNY), Buffalo. Professor, School of Management, SUNY at Buffalo, (Jan 2000 - Sep 2008) . Visiting Professor, University of Groningen, Netherlands (1993 to 2005). Associate Professor, School of Management, SUNY, Buffalo, (Sep 1992 – Jan 2000) . Assistant Professor, School of Management, SUNY, Buffalo, (Aug 1986 - Aug 1992) .
    [Show full text]
  • Here Have Been Focused on the Adult Population (University Programs, Incubators, Accelerators, Etc.)
    MAKING MANAGEMENT EDUCATION RELEVANT FOR FOSTERING YOUTH ENTREPRENEURSHIP Author: Dr. Claudio A. Rivera, RTU Riga Business School; e-mail: [email protected] The RBS – Junior Achievement Latvia Partnership MAIN PARTNERS: Riga Business School: premier American-style business school Junior Achievement Latvia in Latvia established by Riga Technical University, University at is the Latvian branch of the Europe’s Buffalo and the University of Ottawa – www.rbs.lv largest provider of education programmes for entrepreneurship, work readiness and financial literacy – www.jal.lv PROBLEM STATEMENT FOUNDATIONS TO EDUCATE YOUNG ENTREPRENEURS: KEY ELEMENTS Entrepreneurship skills and attitude could be developed but they should be Two main elements should be present in order to develop young entrepreneurs: learned early in life. A LEARNING PLATFORM: entrepreneurship education needs a platform for learning Paradoxically most of the investments on entrepreneurial training in Latvia and in the sense that it brings together different actors with diverse characteristics and priorities though with common interests. elsewhere have been focused on the adult population (university programs, incubators, accelerators, etc.). BLENDED LEARNING METHODOLOGIES: experiential learning; classroom as organization and project-based learning. THE RBS INNOVATION POOL RBS has been developing linkages with different stakeholders with competences in entrepreneurship. They include a Finish-based franchise (Demola), a start-up annual conference (Digital Freedom Festival), a youth leadership platform (GoBeyond) and others. The idea is to allow students and young people to have access to the necessary infrastructure to start-up their own businesses. RBS, as a business school, has the capacity to develop and manage a powerful innovation pool. Junior Achievement Latvia has the access, the engagement and the experience with the youth population.
    [Show full text]
  • Latvian Business Delegation to Canada September 20 - 26, 2006
    As on 04.09.2006. Latvian Business Delegation to Canada September 20 - 26, 2006 No Company Executive(s) Company Address Range of Activities Potential Partners / Interests / Desirable (participating at the visit) (contact person in Latvia) Forms of Co-operation in Canada ORGANIZER 1 Mr. Andris Ozols Latvian Investment and Pērses street 2 Riga, www.liaa.gov.lv Organizer (Business Delegation) Director Development Agency LV-1442, LATVIA The objective of the Latvian Investment and Contact: Ms. Nika Kotoviča Phone: + 371 7039400 Development Agency (LIAA) is to promote business Ms. Nika Kotoviča Project Manager Fax: + 371 7039401 development in Latvia by facilitating more foreign Project Manager Phone: + 371 7039409 investment, in parallel increasing the competitiveness of Mob. Phone: + 371 2647 9886 Latvian entrepreneurs in both domestic and foreign Ms. Indra Freiberga E-mail: [email protected] markets. Head of the representative office in the UK FINANCIAL SECTOR 2 Mr. Gundars Grieze JSC TRASTA KOMERCBANKA Miesnieku Street 9, www.tkb.lv We would like to meet with representatives Chairman of the Board Contact: Ms. Sanita Purne Riga LV-1050, LATVIA Number of employees (in 2005, average): 166 from National Bank of Canada, Montreal as Phone: +371 7027787 Phone: +371 7027777 Total turnover (in 2005 EUR): 14,5 mln well as with Bank of Montreal, Montreal. We Mob.phone: +371 2936 6655 Fax: +371 7027700 Commercial bank JS “Trasta Komercbanka” is one of the have good relationship with both these banks Mr. Māris Fogelis E-mail: [email protected] E-mail: [email protected] oldest banks of Latvia providing its clients complete set and would like to continue to develop it.
    [Show full text]