World of Élan is a bespoke lifestyle management & concierge service catering to the discerning & well-heeled.

To find out more visit World of Élan website.

BritCham warmly welcomes our new member!

Last time we pointed out that though an ongoing consolidation / correction might bring yet another drop and lots of negativity and outcries, we did not expect equity markets to fall below the February / March lows. Well, market decided to prove us wrong, with S&P 500 almost reaching a 4050 mark, before a relief rally started after Jerome Powell stepped in to calm the market participants down.

Full Market Review for April 2022 is available here.

We are pleased to announce that our member ARI Stone – manufacturer of stone products, have just finalised their website and it is now also available in English language. Spring is the perfect time for refurbishement works, so have a glance of what ARI Stone can offer and do not hesitate to get in touch with them to find out more – info@aristone.lv.

March was a rather nervous month for investors, although equity markets in developed countries continued their advance, ignoring negativity in media and social networks, military action, sanctions and counter-sanctions. The S&P 500 index managed to withstand the pressure from the bears and rose by almost 500 points from its lowest point in March. Global Emerging Market indices were less fortunate, with good performance in Latin America and India not enough to offset losses in Asia.

Full Market Review for March 2022 is available here.

From March 21, 2022, BlueOrange Bank starts using a new brand – BluOr Bank and changes the name to BluOr Bank AS.

Changes are introduced with the aim of emphasizing the status of the Bank and strengthening its position in the Latvian and Baltic markets, as well as in other countries, by unifying the brand and legal name of the Bank. The development of the brand follows the latest global trends towards simplicity and conciseness in the digital environment.

Over the past five years, the Bank has been successfully developing and providing a wide range of financial products and services, strengthening its position in Latvia. Through its targeted efforts, the Bank has improved its financial services to legal entities, which resulted in a rapid year-on-year increase in the number of clients – Latvian legal entities. Currently, clients from Latvia, the Baltic States and Europe account for 98% of the total customer share.

The Bank continues to work actively on its strategic priority: providing services to companies and funding them. In five years, the total loan portfolio has doubled and reached EUR 344 million by the end of 2021. Last year, Latvian and Baltic companies were granted funding in the amount of more than 130 million. Thus, the Bank contributed to the development of certain sectors, acquired new export markets and helped to take advantage of new business opportunities that have arisen in a difficult period for the Latvian economy. It should be noted that the Bank’s loan portfolio already includes a number of sustainable projects aimed at protecting the environment and climate.

The Bank is successfully developing its potential as a financial institution: it currently ranks among the 6 largest banks in Latvia, and at the end of 2021, it was recognized as one of the five systemically important financial institutions in Latvia.

Looking to work or study in the UK? Take IELTS if you are applying for a UK visa application to work or live in the UK!

IELTS for UKVI Academic and General Training and IELTS Life Skills are approved Secure English language tests (SELT) by the UK Home Office for visa applications to the UK.
All British universities and colleges accept IELTS Academic results. This means you may not need to take an IELTS for UKVI (Academic) test but can submit an IELTS Academic result. Before booking your test, make sure to check which test you need with the organisations you are applying to.
The IELTS test you take – and the score you need – will depend on both your visa requirements and/or the requirements of the institution where you plan to study or work.

IELTS for UKVI (Academic)
This test is for test takers wishing to study at undergraduate or postgraduate levels, and for those seeking professional registration in the UK.
IELTS for UK Visas and Immigration (Academic) is also available on computer.

IELTS for UKVI (General Training)
This test is for test takers wishing to migrate to the UK and for those wishing to train or study below degree level.

IELTS Life Skills A1
This test is for those who need to prove their English Speaking and Listening skills as part of their application to UK Visas and Immigration for Sportsperson (T2), Representative of an Overseas Business, or Family (Spouse/partner; Fiancé, fiancée or proposed civil partner; Parent of a dependent) visas.

IELTS Life Skills A2
This test is for those who need to prove their English Speaking and Listening skills as part of their application to UK Visas and Immigration for extension to Family visas (Spouse/partner or Parent of a dependent). (This test is only available in the UK)

IELTS Life Skills B1
This test is for those who need to prove their English Speaking and Listening skills as part of their application to UK Visas and Immigration for Citizenship or Settlement (also known as indefinite leave to remain) visas.

From February 2022, IELTS for UKVI is available in Riga, at the Baltic Council for International Education IELTS test centre.

Avaraq is a highly specialised and certified IT consultancy company providing services within project management, operations services and process advisory.

Avaraqs staff are certified in all the major industry standards Prince2, Scrum, PMP, CMMI, IPMA, ITIL and Comptia A+ and have vast experience with advising and leading large-scale projects as well as running daily operations and processes in complex, multi-vendor environments.

Avaraq emphasize timeliness, transparency and trustworthiness.

Call or email to enquire about a discounted Process Sanity Check to ensure your IT operations are up to code.

To find out more visit Avaraq website.

BritCham warmly welcomes our new member!

Stock market continued its winter correction, although, given the military conflict in Ukraine and its economic implications, losses appear to be moderate. The S&P 500 index lost just over 3 percentage points, while the pan-European Europe Stoxx 600 was down by 3.4 percent. The German DAX (-6.5%) and the French CAC 40 (-4.4%) were worse off, while the Russian market “has left the chat” altogether. Oil and gas prices continued their impressive run, while precious metals also performed well in February. Benchmark yields were rising in the beginning of February but gave back a lot of ground late in the month.

Full Market Review for February 2022 is available here.

BritCham has compiled a list of our members offering legal advice on pro bono basis to help those affected following Russia’s invasion into Ukraine (e.g. Ukrainian refugees coming to Latvia, Ukrainian companies wanting to set up business or work in Latvia etc.).

Please find HERE a list of our members offering pro bono legal help.

If you would like us to add your company to the list, please contact BritCham Office at info@britcham.lv.