International Internet Magazine. Baltic States news & analyticsThursday, 02.09.2010, 22:33
Ansip: no plans to raise taxes in 2011
02.09.2010Prime Minister of Estonia Andrus Ansip stated that the State tax revenue has not been reaching 2010 year’s level for years, writes LETA/Postimees Online.
Keyword tags: Budget, Estonia, Financial Services, Taxation
Multilateral Carbon Credit Fund signs first projects in Baltics to purchase carbon credits in Estonia and Lithuania
02.09.2010In its first transaction in the Baltics, the EBRD-EIB Multilateral Carbon Credit Fund (MCCF) has agreed to buy carbon credits from a group of wind farms managed by OU Nelja Energia, a renewable energy company, wholly-owned by Fre-energy AS, a leading Estonian investor in renewable energy in Eastern Europe. OU Nelja Energia develops and manages a portfolio of 19 wind farms in Estonia, Lithuania and Latvia, with a planned combined capacity of 330 MW onshore and 700 MW offshore.
Latvian politicians promise not to increase taxes, but intend to change tax system
02.09.2010Representatives of Latvian leading political parties standing in autumn's 10th Saeima elections in 2010 promise not to increase the overall tax burden; however, the parties intend to make internal changes to the tax system, in order to move the tax burden from labor onto consumption.
Estonian Retailers Association: rushing Tallinn’s budget is unethical
02.09.2010Estonian Retailers Association said on Wednesday in a statement that including planned revenue from municipal sales tax in the 2011 budget of Estonia’s capital Tallinn is unethical and shows the attitude of the city government towards consumers, businesses and the development of the state.
EBRD buys pollution quota from Estonian Nelja Energia
01.09.2010In its first transaction in Baltics, the EBRD-EIB Multilateral Carbon Credit Fund (MCCF) has agreed to buy carbon credits from a group of wind farms managed by OÜ Nelja Energia, a renewable energy company, owned by Freenergy AS, a leading Estonian investor in renewable energy in Eastern Europe, the EBRD announced on Wednesday.
Invalda profit totals 13.43 mln litas in H1
Lithuania-based investment company Invalda during six months of 2010 earned consolidated profit before taxes in amount of 13.43 million litas, Invalda reports to NASDAQ OMX Vilnius.
Citadele Eastern European balanced fund – best balanced fund in 2010
Citadele Eastern European Balanced Fund named as the Best Balanced Fund 2010 in the recent survey on the best Central and Eastern European funds performed by European business journal Business New Europe. Citadele Eastern European Balanced Fund has brought the highest return (24,26%) among other funds with similar investment strategy being examined in the performed survey, informed BC Indra Zinkeviča, head of corporate communications at Citadele banka.
Latvijas krajbanka losses at LVL 4.6 mln in H1
The joint-stock Latvijas krajbanka posted LVL 4.6 million in losses in the first six months of 2010, according to the bank's financial statement published at the NASDAQ OMC Riga website. In the first half of 2009, the bank's losses was almost by threefold less – LVL 1.6 million.
Riga councilmen support allocation of additional LVL 1 mln for social benefits
Yesterday, deputies from the Riga City Council's Committee on Social Issues supported the allocation of additional LVL 1 million for social benefits.
Bigbank earns 30 mln kroons of profit in H1
The Estonian bank Bigbank AS announced that its net profit for the first half-year of 2010 amounted to 30.1 million kroons; the bank continued to focus on expanding its activities outside the Baltic States.
PrivatBank posts LVL 3.509 mln in first half losses
In the first half of the year 2010, joint-stock banking company PrivatBank posted LVL 3.509 million in losses, according to an announcement by the Riga Stock Exchange. The PrivatBank concern posted LVL 3.939 million in losses in the first six months of the year.
Monthly gross wages and salaries in Latvia increased by 2.9% in Q2
Average monthly gross wages and salaries in Latvia in 2nd quarter of 2010 comprised LVL 444, and it is LVL 13 or 2.9% more if compared to the 1st quarter, according to the data of the Central Statistical Bureau (CSB).
Trasta komercbanka’s losses at LVL 2.7 mln in H1
The joint-stock Trasta komercbanka posted LVL 2.7 million loss in the first six months of 2010, according to the bank's financial statement published at the "NASDAQ OMC Riga" website. The provisions of Trasta komercbanka for bad loans within six months of 2010 increased by 14.4% or LVL 2.1 million, reaching LVL 16.9 million or 14.1% of the bank's total loan portfolio.
Budget, energy, reform of state-owned companies in focus in the new political season in Lithuania
Prime Minister Andrius Kubilius considers the state budget for 2011, the energy sector and the reform of the management of state-owned enterprises as the key tasks in the new political season. The head of Government stressed that after his meeting with President Dalia Grybauskaite which focussed on the new political season.
City of Tallinn already compiles budget for 2011
The Tallinn City Government announced surprisingly yesterday that it has completed the drafting of the city budget for the year 2011. Last year, for example, the city budget was only completed by the beginning of December, LETA/Eesti Päevaleht reports.
Updating the Nordic-Baltic cooperation 
