Financial Services

International Internet Magazine. Baltic States news & analytics Friday, 25.09.2020, 13:57

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90% of domestic payments reach the recipient in just a few seconds

90% of domestic payments reach the recipient in just a few seconds

25.09.2020

Estonian companies and residents made an average of 462,000 payments a day in August, and 90% of them reached the payee in just a few seconds. All payments made in Estonia within one bank and 61% of interbank payments are settled instantly.

Keyword tags: Banks, Direct Speech, Estonia, Financial Services



Labor tax burden in Latvia higher than in Lithuania and Estonia

Labor tax burden in Latvia higher than in Lithuania and Estonia

24.09.2020

Even though personal income tax rates across the Baltic countries are similar, the overall labor tax burden in Latvia is higher than in Lithuania and Estonia, the Free Trade Union Confederation of Latvia finance and tax expert Janis Hermanis said at the confederation's conference today, cites LETA.

EU and Helenos back microfinance in Lithuania through investments in the Lithuanian Central Credit Union

EU and Helenos back microfinance in Lithuania through investments in the Lithuanian Central Credit Union

24.09.2020

The EIF and Helenos, a private equity fund managed by Inpulse, will strengthen the capacity of the Lithuanian Central Credit Union (LCCU) through two investments totalling EUR 3mln. The EIF investment is backed by the European Union under the capacity building’ window of the EU programme for Employment and Social Innovation (EaSI). The financing will support LCCU’s digital infrastructure, risk management and IT system, to strengthen its capital base and scale-up its micro-lending activities in Lithuania.


Estonian government approves the annual report for financial year 2019

Estonian government approves the annual report for financial year 2019

24.09.2020

The Estonian government at its sitting on Thursday approved the state's consolidated report for the 2019 financial year, writes LETA/BNS.

Lithuania's minimum wage could rise by EUR 35 in 2021

Lithuania's minimum wage could rise by EUR 35 in 2021

24.09.2020

Lithuania's minimum wage could be raised by about 35 euros to 642 euros as of next January, Social Security and Labor Minister Linas Kukuraitis said on Thursday, cites LETA/BNS.


24.09.2020

Large Cities' Association in Latvia says reduction in municipalities' revenue from personal income tax is unacceptable

The Finance Ministry will have to come up with a clear solution to compensate local governments for a reduction revenues as projected in the draft 2021 budget, the Association of Large Cities of Latvia told LETA after a meeting with the Finance Ministry's representative.

23.09.2020

Ignitis Group concluded a financing agreement with the European Investment Bank

On 23 September Ignitis Grupė signed the contract with the European Investment Bank (EIB) for the loan of EUR 110 mln which will be used by Energijos skirstymo operatorius (ESO) to implement an IT solution for smart meters and their data collection and management.The loan duration fixed in the contract is up to 16 years. No additional measures that would guarantee performance of additional obligations (guarantees, securities, mortgage, etc.) are provided in this contract, informed company.

23.09.2020

Foreign investments in Latvia not to grow considerably, but no steep reduction is expected

Along with the Covid-19 crisis, most believably, foreign investments in Latvia will not grow considerably, but there is not steep reduction expected, either, said Gunta Jekabsone, the board chairwoman of the Foreign Investors' Council in Latvia (FICIL), in an interview with LETA.

23.09.2020

UK's Tradecore sets up business in Lithuania

Tradecore Group, a UK company providing financial services, has established a company in Lithuania, informs LETA/BNS.

22.09.2020

Lithuania: Ignitis Grupe's fund invests EUR 0.3 mln. into Swedish startup Eliq

Ignitis Inovaciju Fondas (Ignitis Innovation Fund), an investment fund established by Ignitis Grupe (Ignitis Group), Lithuania's state-owned energy group, has invested 295,000 euros in Eliq, a Swedish startup creating software solutions for the energy sector, the group said.

22.09.2020

Luminor lends EUR 2 mln for plastic packaging plant in Lithuania

Luminor Bank has loaned 1.9 million euros for the construction of a new plastic packaging plant of Terekas, a Lithuanian company that operates abroad under the FlexBlow brand, in the western district of Kretinga, informs LETA/BNS.

22.09.2020

EBV Finance setting up operations center in Lithuania

EBV Finance, a Vilnius-based tax refund services provider, is setting up an operations center in Lithuania after becoming part of the global corporation Edenred, informs LETA/BNS.

22.09.2020

Amount of bribes figuring in criminal cases investigated by Corruption Prevention Bureau in Latvia - EUR 20,000 to EUR 30,000

The average amount of bribes figuring in criminal cases that the Corruption Prevention Bureau forwarded to the prosecutor's office from 2013 to 2019 was EUR 20,000 to EUR 30,000, LETA learned at the bureau.

22.09.2020

Government in Latvia approves allocation of extra funds from 2021 budget and changes to several taxes

The Cabinet of Ministers on Tuesday supported allotting extra funds from the 2021 budget for increasing healthcare workers and teachers' salaries, as well as changing several taxes to improve social protection of residents, informs LETA.

22.09.2020

US billionaire Ahmad Khawaja arrested in Lithuania

US billionaire Ahmad Khawaja was arrested by Lithuanian law-enforcement officials in Vilnius on September 3, according the 15min.lt news website information reported LETA/BNS.

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