International Internet Magazine. Baltic States news & analytics
Thursday, 27.10.2016, 01:57
In the World Bank survey Doing Business 2017, Estonia improved its ranking by four places compared with the previous such report and climbed to place 12, one place higher than Finland. Latvia has risen to its current position from 22nd place last year thanks to an improved accessibility to credit information and reforms that have made paying taxes easier. Lithuania ranks 21st among 190 countries in the World Bank's latest ease of doing business report, a notch lower than last year.
The net profit of Estonian banks grew by 5 % on year in the third quarter, mainly due to increased interest income, the Bank of Estonia said.
The 20 odor sensors, or e-noses, installed in different places in the area of the port of Muuga near Tallinn this spring have reduced the number of bad smell complaints from local residents severalfold, Port of Tallinn CEO Valdo Kalm said LETA/BNS.
Kazakhstan will start allowing Estonian nationals into its territory for a short term stay of up to 30 days without a visa from Jan. 1 next year, writes LETA/BNS.
The IMF has concluded their annual official staff visit (or ‘mission’) to Estonia. The mission team commended the country’s economic policy and reform plans, but expressed concerns about weak productivity growth. They said Estonia will have to find ways to balance productivity and wage growth and to promote competitiveness. Eesti Pank shares this view.
Estonian Finance Minister Sven Sester on Tuesday signed a regulation which determines the precise requirements and rules regarding opening a bank account without going to a bank office by using a video bridge and the regulation is to come into force on Oct. 31, reports LETA/BNS.
A tax rise for the financial sector in Sweden may result in an increase in businesses' interest in relocating jobs to the Baltic countries, because the necessary competencies exist here, the Estonian financial sector body FinanceEstonia said, writes LETA/BNS.