International Internet Magazine. Baltic States news & analytics
Thursday, 30.06.2016, 18:46
In 2012, the average forest regeneration costs, depending on the forest land quality group1, varied between 620 and 687 euros per hectare, according to the data of the Central Statistical Bureau (CSB).
Keyword tags: Analytics, Financial Services, Latvia, Markets and Companies, Woodwork
Latvian monetary financial institutions earned EUR 173.2 million in aggregate profit in the first five months of the year 2016, informs LETA, according to the information from the Bank of Latvia.
Investors participating in the offering of units of Baltic Horizon Fund, which have been admitted for trading in the Baltic Fund List of Nasdaq Tallinn as of July 6, subscribed to approximately 30 million euros' worth of units, resulting in net proceeds of around 20.5 million euros for the fund, informs LETA/BNS.
According to a study conducted by KPMG, the illicit cigarette trade caused a loss of 31 million euros to Estonia in 2015, while the share of black market cigarettes in total consumption fell by 4.1%age points to 14.4%, informs LETA/BNS.
Tax revenues in the Latvian general government consolidated budget reached EUR 2.983 million in the first five months of 2016, beating the target by 0.4% and growing by EUR 129 million, or 4.5%, against the same period last year, LETA was told at the Finance Ministry.
The Estonian Seamen's Independent Union (EMSA) and Sergei Mastepan, former representative of employees of the transit operator Transiidikeskus, have won a court fight with the company over Mastepan's dismissal, informs LETA/BNS.
The Lithuanian parliament on June 29th gave its final green light to start in 2017 a reform of the pay-as-you-go social security system that provides for introducing a ceiling on social insurance contributions and for using state budget funds to pay basic pensions, informs LETA/BNS.
Ukio Bankas, a bankrupt Lithuanian bank that is currently in the process of liquidation, will have to go to Latvian courts in an effort to recover nearly 600,000 euros from PrivatBank, the neighboring country's ninth-biggest commercial bank by assets, informs LETA/BNS.
On 21 June 2016, the Council agreed on a draft directive addressing tax avoidance practices commonly used by large companies. The directive is part of a January 2016 package of Commission proposals to strengthen rules against corporate tax avoidance.
Because of better salaries and a friendlier tax system, 40% of Latvian residents would be prepared to move to Estonia, according to a survey carried out by the Latvian job advertisement portal cvmarket.lv, cites LETA.
The average turnover for all Latvian companies in 2015 amounted to EUR 21,700, which is 13% more than in 2014, informs LETA, according to Lursoft data.
In the first five months of 2016, the Latvian banking sector earned EUR 173.7 million in profit, the Latvian financial regulator, the Financial and Capital Market Commission reported LETA.
Vostok Emerging Finance (VEF) has invested 3.4 million US dollars (EUR 3.07 mln) in the Lithuanian-owned money transfer company TransferGo, whose key markets include the United Kingdom, which voted last week to leave the European Union, Verslo Zinios reported on June 29th, cites LETA/BNS.
As a result of reforming the teacher remuneration system, the earmarked subsidy for teachers' salaries will increase for about 88% of local governments in Latvia, informs LETA.