Financial Services

International Internet Magazine. Baltic States news & analytics Tuesday, 14.07.2020, 18:00

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Government approves EUR 51 mln allocation to subsidize wages in Latvian exporting enterprises

Government approves EUR 51 mln allocation to subsidize wages in Latvian exporting enterprises

14.07.2020

The government today approved the Economics Ministry's proposal to allocate EUR 51 million for wage subsidies to exporting enterprises that have suffered from the Covid-19 crisis, reports LETA.

Keyword tags: Baltic Export, Covid-19, Financial Services, Investments, Latvia, Legislation, Markets and Companies



Citizens call for bigger EU budget to tackle crisis

Citizens call for bigger EU budget to tackle crisis

14.07.2020

A majority, that is 56 percent of Europeans, says the European Union should have more financial means to overcome the impact of the pandemic. Public health tops the priority list, with economic recovery and climate change, it appears from the results of a recent survey by pollster Kantar, informs LETA/BNS.

Estonia's 2020 renewable energy subsidy budget short of EUR 9 mln

Estonia's 2020 renewable energy subsidy budget short of EUR 9 mln

14.07.2020

Although the government decided last week to allocate four million euros to cover costs for renewable energy instead of raising prices, there is still a shortfall of nine million euros in the estimated amount of subsidy that producers will be eligible for by the end of the year, public broadcaster ERR reported, cites LETA/BNS.


Government in Latvia allots EUR 28.5 mln for local governments' investment projects

Government in Latvia allots EUR 28.5 mln for local governments' investment projects

14.07.2020

The Cabinet of Ministers today approved issuing EUR 28,490,923 in loans for municipal investment projects, also providing local governments with new opportunities to take out loans, informs LETA.

Bank of Lithuania: The number of electronic money and payment institutions as well as the sector’s income continue on an upward trend

Bank of Lithuania: The number of electronic money and payment institutions as well as the sector’s income continue on an upward trend

14.07.2020

At the end of 2019, a total of 115 electronic money institutions (EMIs) and payment institutions (PIs) operated in Lithuania, comprising a one-fifth increase compared to the previous year.


14.07.2020

Vilnius bourse resumes trading in Grigeo shares

Nasdaq Vilnius is resuming trading in Grigeo shares on Tuesday after the Lithuanian paper and cardboard producer released its audited annual report for 2019, the stock exchange said.

14.07.2020

Employers will have to explain how they can pay low wages to employees - Jaunzeme

In order to fight unreported wages more successfully, the State Revenue Service will submit legislative amendments to the law on state social insurance, that will make employers prove the reason for paying low wages, said State Revenue Service (VID) general director Ieva Jaunzeme, referred LETA.

14.07.2020

PM Karins promises to resume political talks on tax changes after Finance Ministry's analysis

Suspended discussions on Latvia's next tax reforms will resume after the Finance Ministry completes its analysis, Prime Minister Krisjanis Karins (New Unity) told journalists LETA.

13.07.2020

EU survey puts Lithuanian's average net household wealth at EUR 84,300

Lithuanian households' net wealth averages 84,300 euros, well below the European average of 229,200 euros, but wealth inequality in the country is among the lowest in Europe, writes LETA/BNS, according to the European Household Finance and Consumption Survey.

13.07.2020

Nordnet borrows EUR 3.8 million from Citadele for the expansion

Nordnet OU, an Estonian company specializing in the logistics of refrigerated and frozen products, has borrowed 3.8 million euros from Citadele Pank to buy out majority owners and move forward with plans for expansion, informs LETA.

13.07.2020

Latvia has already allocated EUR 842.63 mln for Covid-19 crisis alleviation

By the beginning of July, the state has allocated EUR 842.63 million in funding to alleviate the crisis caused by Covid-19, LETA was informed by the Ministry of Finance (MoF).

10.07.2020

Initiative by Estonia's TalTech, EU universities granted EUR 5 mln in financing

The Tallinn University of Technology (TalTech) in cooperation with top European technology universities has been granted five mln euros in financing by the European Commission for the creation of EuroTeQ Engineering University -- a shared ambition in education and research as well as in business cooperation with global tech giants like Siemens, Total and BMW.

10.07.2020

Swedbank economist: Outlook for external demand improving

Swedbank chief economist Tonu Mertsina said that according to Statistics Estonia, the decline in exports deepened, but pointed out that the outlook for foreign demand is nevertheless improving.

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