International Internet Magazine. Baltic States news & analytics
Sunday, 25.09.2016, 23:48
The Finance Ministry is about to make amendments to the Money Laundering and Terrorist Financing Prevention Act adopted this summer to enable residents and e-residents of to open a bank account without going to a bank office, writes LETA/BNS.
Keyword tags: Estonia, Financial Services, Innovations, Internet, Technology
The frequency of ordering products and services online in Estonia is increasing among users of e-commerce19.09.2016
According to Statistics Estonia, in the 1st quarter of 2016, 86% of households in Estonia had Internet access at home. There has been an increase in the share of people having used e-commerce services more than five times in the last three months.
Commission's preliminary report on e-commerce sector in the EU confirms fast growth of e-commerce and identifies business practices that might restrict competition and limit consumer choice. The Commission's Digital Single Market Strategy has already identified a number of regulatory barriers that hinder cross-border e-commerce.
Innovative Russian software solutions start-up Mobile Angels, which specialises in mobile apps that use augmented reality technology, is setting up operations in Lithuania. The company aims to establish a team of 25 highly qualification information systems specialists in Lithuania within three years. The news comes on the back of the successful launch of the company’s most recent project, a mobile app for skiers with augmented reality functions, representative Mobile Angels told BC.
Over the last few years, the information and communications technologies sector (ICT) has been among those with fastest growth. It is no secret that in recent years rapid expansion of different ICT services could be observed in Latvia: programming, data storage, development of mobile applications, development of various complex ICT solutions, etc. However, unlike retail trade or manufacturing, the sector usually is not in the spotlight of economic analysts and policy makers. This can be explained by the size of the sector – ICT only accounts for about 5% of the total value added, even though this level is close to the European Union's average. Nevertheless, the success of the sector should be noted: it is one of the fastest growing, with high productivity levels, high average salary, implementation of latest technologies, and other positive features.
The Estonian taxi-hailing app Taxify which has recently expanded its operations to Budapest, Bucharest and Nairobi is planning to launch its operations in four other cities around the world in September, reports LETA/BNS.
Enterprise Estonia is set to launch in the next three years a virtual reality environment costing up to a million euros to showcase Estonia and the e-solutions available here, writes LETA/BNS.