Financial Services

International Internet Magazine. Baltic States news & analytics Sunday, 24.05.2015, 20:04

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Estonian Krediidipank posts strong Q1 profit

Estonian Krediidipank posts strong Q1 profit

22.05.2015

The Estonian Krediidipank informed that the group's profit in the first quarter of this year amounted to nearly 720,000 euros while in the first quarter last year, the banking group had a loss of nearly 90,000 euros, reports LETA.

Keyword tags: Banks, Estonia, Financial Services, Loan



EU supports construction of third Estonian-Latvian electricity connection with 112 mln euros

EU supports construction of third Estonian-Latvian electricity connection with 112 mln euros

22.05.2015

Estonian state-owned power grid company Elering announced that it signed a financing agreement with the European Commission, according to which the European Union finances the construction of the third Estonian-Latvian electricity connection with 112 million euros, informs LETA.

Agreement on EUR 1.8 bln macro-financial aid to Ukraine signed in Riga

Agreement on EUR 1.8 bln macro-financial aid to Ukraine signed in Riga

22.05.2015

A memorandum of understanding and loan agreement on macro-financial aid to Ukraine in the amount of EUR 1.8 billion was signed during the Eastern Partnership Summit in Riga today, reports LETA.


French, German leaders hold talks with Greek PM in Riga

French, German leaders hold talks with Greek PM in Riga

22.05.2015

Greek Prime Minister Alexis Tsipras held "friendly and constructive" debt talks with the leaders of France and Germany on May 21st, but gave no sign of a breakthrough ahead of a crucial June deadline, writes AFP/LETA.

Estonian government approved tax refund system for low-income people

Estonian government approved tax refund system for low-income people

22.05.2015

The Estonian government approved on Thursday the bill of amendments to labour market services and subsidies and other laws, which prescribes for employees with low incomes an annual tax refund, which should motivate people to work and should raise the income of people earning low wages, reports LETA the government communications unit.

22.05.2015

Tallinn drafts supplementary budget for 2015, cooperative bank receives 5 mln euros

The Tallinn city government decided to submit to the city council the first supplementary budget of 2015, which increases the city budget volume by nearly 34.5 euros million and allocates 5 million euros more to create the city's cooperative bank, Eesti Ühistupank, LETA/Public Broadcasting reports.

21.05.2015

Estonian government approved of the amendments to the social tax law

The Estonian government approved at its Thursday meeting the bill of amendments to the social tax law, the income tax law and other laws, which confirm a variety of changes, LETA/Postimees Online reports.

21.05.2015

Proportionate non-taxable minimum in Latvia may be adopted by 2020

The Finance Ministry in Latvia has worked out a proposal for implementing a proportionate non-taxable minimum, stipulating gradual adoption by 2020, reports LETA.

21.05.2015

Estonian government approved increase in child support for the next 4 years

The Estonian government today approved one of its main promises – an increase in child support, aimed to improve the coping of families with children, LETA/Public Broadcasting reports.

21.05.2015

Latvia continues to see reduction in number of residents registered as needy

Latvia continued to see a reduction in the number of residents registered as living below the poverty line in April 2015, the Welfare Ministry informs LETA.

21.05.2015

EU Member States will be able to receive larger advance payments for implementation of the Youth Employment Initiative

On 20 May in Strasbourg, acting on behalf of the Council of the European Union (EU), the Latvian Foreign Ministry’s Parliamentary State Secretary, Zanda Kalnina-Lukasevica, signed a regulation, which speeds up the absorption of EU funding under the EU’s Youth Employment Initiative, reports eu2015.lv.

20.05.2015

Tallinna Sadam pays a dividend of 31.2 mln euros to the state

Estonian economy and communications minister Kristen Michal confirmed today the dividend of state-owned ports operator AS Tallinna Sadam (Port of Tallinn) at 31.2 million euros, to which income tax expense in the amount of 7.8 million euros is added, LETA/Delfi Ärileht reports.

20.05.2015

Construction quality of Latvia's roads is improving

In an interview on this morning's edition of the "Latvijas Neatkariga televizija" (LNT) news program "900 Seconds", the head of state-owned road maintenance company Latvijas Valsts celi (Latvian State Roads) Janis Lange said that the construction quality of Latvia's roads is improving, reports LETA.

20.05.2015

Estonian state budget collects 31.1% annual revenue in 4 months

According to the Ministry of Finance, the Estonian state budget collected revenue of 2.63 billion euros in the first four months of the year 2015; this is 31.1% of the total amount planned in the budget, LETA/Postimees Online reports.

20.05.2015

55% businessmen say corruption in Latvia is very common

Compared with the most developed countries, Latvian business leaders admit that the level of corruption in Latvia's economic environment is significantly higher. Hence, 55% of Latvian business leaders agree with the statement that corruption in Latvia is very common, as compared with 35% in the most developed economies, according to the latest EY (former Ernst&Young) survey on fraud and corruption "Fraud and Corruption – The Easy Option for Growth?", informs LETA.

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