Financial Services

International Internet Magazine. Baltic States news & analytics Tuesday, 17.10.2017, 18:17

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Tieto told to pay EUR 270,000 more for failure of infosystem project in Estonia

Tieto told to pay EUR 270,000 more for failure of infosystem project in Estonia

17.10.2017

The Estonian Ministry of Social Affairs, Tieto Estonia AS and OU Icefire have concluded a compromise whereby the Estonian arm of the Finnish IT group Tieto will pay the ministry 270,000 euros for the failure of the SKAIS2 project to develop a new information system for the Estonian social insurance authority, reports LETA/BNS.

Keyword tags: Estonia, Financial Services, Legislation, Technology



Eesti Pank head: EU budget, finmin won't help countries in trouble

Eesti Pank head: EU budget, finmin won't help countries in trouble

17.10.2017

Eurozone countries should not get their hopes too high on ever-closer fiscal cooperation and a European finance ministry to help out countries in trouble, Ardo Hansson, head of the Bank of Estonia and member of the European Central Bank governing council said in an interview with Politico cited by the Bank of Estonia, informs LETA/BNS.

Latvian, Norwegian scientific institutions implement joint projects for EUR 4.17 mln

Latvian, Norwegian scientific institutions implement joint projects for EUR 4.17 mln

17.10.2017

In two years Latvian and Norwegian scientific institutions have implemented joint projects for EUR 4.17 million, the Latvian State Education Development Agency (VIAA) reported LETA.


30.1% Lithuania's population at poverty line in 2016, the highest in Baltics

30.1% Lithuania's population at poverty line in 2016, the highest in Baltics

17.10.2017

Some 30.1% of Lithuania's residents were at the poverty line last year, which is one of the bigger indicators across Europe, shows the latest information from Eurostat. The percentage was up 1.8%age points since 2008, informs LETA/BNS.

Riepu Bloki appeals EUR 12.9 mln fine imposed by State Environmental Service

Riepu Bloki appeals EUR 12.9 mln fine imposed by State Environmental Service

17.10.2017

Riepu Bloki company has appealed a EUR 12.9 million fine imposed by the State Environmental Service for storing in Riga huge amounts of used tires well above the permitted limit, LETA was told at the Liepaja courthouse of Administrative Regional Court.


17.10.2017

eCom21 conference as the world in miniature - work and holiday

On the eve of Independence Day, on 16-17 November, the VI International forum on e-commerce issues - eCom21 will be held in Riga. Traditionally, this business conference, which gathers together several hundred professionals from all over the world, is held during the days when this Baltic country celebrates its main public holiday in a bright and festive way. As always, surprises are being prepared for guests of eCom21 - a special ecom programme, beyond the premises of the conference hall, informed BC Rietumu bank’s press service.

17.10.2017

Unemployment insurance for board members in Estonia would cost EUR 10 mln a year

The social affairs committee of the parliament in Estonia was set on October 16th to discuss the preparation for the first reading of a bill changing the conditions for the registration of the manager of a business as unemployed, estimated to cost the Estonian state approximately 10 million euros per year, informs LETA/BNS.

17.10.2017

Dzintars cosmetics company expects smaller loss in 2017

Latvia’s Dzintars cosmetics company plans that this year’s loss will be lower than last year, the company’s board chairman Ilja Gercikovs told LETA.

17.10.2017

Fortum tops list of recipients of renewable energy subsidy in September in Estonia

Companies of Fortum Eesti, a holding of the Finnish Fortum Power and Heat OY energy group, were the biggest recipients of renewable energy support and high-efficiency cogeneration support in Estonia in September, receiving altogether 1.5 million euros, writes LETA/BNS.

17.10.2017

Lithuania's National Agreement hints of higher salaries in exchange for lower labor taxes

Lithuania's government, business representative and trade unions on October 16th signed an agreement, declaring pledges to raise wages, cut taxes on labor and encourage collective contracts, informs LETA/BNS.

16.10.2017

More tobacco products bought by Estonians in Latvia

Although the market for counterfeit and contraband cigarettes in Estonia has contracted to 13.3% of total consumption, cross-border flows from Latvia are increasing, a survey by KPMG indicates, cites LETA/BNS.

16.10.2017

Bank of Latvia buys EUR 6.214 bln worth of securities under ECB program

The Bank of Latvia so far has purchased EUR 6.214 billion worth of Latvian and supranational securities under the European Central Bank's (ECB) Public Sector Purchase Program (PSPP), writes LETA, according to the information published by the bank.

16.10.2017

Government grants Lithuanian Railways EUR 36 mln for passenger transport losses

Lietuvos Gelezinkeliai (Lithuanian Railways, LG), which were recently slammed a fine of nearly 28 million euros from the European Commission (EC) for competition offense, should next year receive close to 36 million euros in compensation for passenger transport losses, informs LETA/BNS.

16.10.2017

Commission’s report “Labour Market and Wage Developments in EU”

Commission’s report-2017 confirms recent years’ positive labour market trends in most EU states. Employment level has surpassed pre-crisis levels with more than 235 million people at work. Unemployment now stands at 7.6%, which is approaching levels prior to the recession.

16.10.2017

Lithuania's StrongPoint works with Swedish, Russian food vending machine firms

StrongPoint, a Lithuanian IT solutions company, has signed a contract with a Russian company selling groceries online, which will introduce 25 grocery pickup points in Moscow by the end-2017, Verslo Zinios business daily said.

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