Financial Services

International Internet Magazine. Baltic States news & analytics Thursday, 30.06.2016, 18:46

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Forest regeneration costs have increased in Latvia  in 2015

Forest regeneration costs have increased in Latvia in 2015

30.06.2016

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 make EUR 173 mln profit in January-May

Latvian monetary financial institutions make EUR 173 mln profit in January-May

30.06.2016

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 take up EUR 30 mln worth of Baltic Horizon Fund units

Investors take up EUR 30 mln worth of Baltic Horizon Fund units

30.06.2016

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.


Estonia's public revenue reduced by EUR 31 mln by illegal cigarettes

Estonia's public revenue reduced by EUR 31 mln by illegal cigarettes

30.06.2016

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 0.4% above target in Latvia in 5 months

Tax revenues 0.4% above target in Latvia in 5 months

30.06.2016

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.

30.06.2016

Estonian seamen defeat Transiidikeskus in court

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.

30.06.2016

Lithuanian Seimas green-lights social security, pension reforms

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.

30.06.2016

Lithuanian bankrupt Ukio Bankas suit against PrivatBank to be heard by Latvian courts

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.

29.06.2016

Corporate tax avoidance: Council agrees on anti-avoidance rules

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.

29.06.2016

40% Latvian residents would be prepared to move to Estonia due to better salary

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.

29.06.2016

Latvian companies' average turnover increases by 13% in 2015

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.

29.06.2016

Latvian banking sector shows EUR 173.7 mln in profit in January-May

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.

29.06.2016

Vostok Emerging Finance invests USD 3.4 mln in Lithuanian TransferGo

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.

29.06.2016

Subsidies to increase for 88% Latvian local governments as a result of teacher salary reform

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.

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