Financial Services

International Internet Magazine. Baltic States news & analytics Tuesday, 07.07.2020, 16:18

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Nasdaq Riga: European capital markets needs simpler regulation

Nasdaq Riga: European capital markets needs simpler regulation

07.07.2020

The regulation of the European Union's (EU) capital markets has to become simpler and more proportional to smaller enterprises, because currently the same requirements are applied to large corporations and small companies whose shares or bonds are listed on stock exchanges, Nasdaq Riga Board Chairperson Daiga Auzina-Melalksne, who participated in drawing up a report on the development of European capital markets, told LETA.

Keyword tags: EU – Baltic States, Financial Services, Investments, Latvia, Legislation



Estonian Unemployment Fund pays wage compensation to 137,000 workers in 3 months

Estonian Unemployment Fund pays wage compensation to 137,000 workers in 3 months

07.07.2020

From April to June 2020, the Estonian Unemployment Insurance Fund assigned extraordinary remuneration compensation to 136,709 employees of 17,472 companies with the average compensation amounting to 703.2 euros, informs LETA/BNS.

Estonian Unemployment Insurance Fund pays wage compensation to 137,000 workers in 3 mos

Estonian Unemployment Insurance Fund pays wage compensation to 137,000 workers in 3 mos

07.07.2020

From April to June, the Estonian Unemployment Insurance Fund assigned extraordinary remuneration compensation to 136,709 employees of 17,472 companies with the average compensation amounting to 703.2 euros, reported LETA/BNS.


Insurance premiums in Latvia increase 8.1% in Q1

Insurance premiums in Latvia increase 8.1% in Q1

07.07.2020

In the first quarter of this year, Latvian insurers and the Latvian branches of foreign insurance companies raised gross premiums 8.1% against the respective period in 2019, while gross insurance claims rose 16.3% y-o-y, according to the data released by the Finance and Capital Market Commission (FCMC).

European Commission Approves airBaltic Equity Increase of 250 Million Euro

European Commission Approves airBaltic Equity Increase of 250 Million Euro

03.07.2020

The European Commission on July 3, 2020, under EU State aid rules, has approved the Latvian government's investment of EUR 250 mln into the equity of the Latvian airline airBaltic to contribute to overcome the economic crisis caused by COVID-19 and resume growth.


03.07.2020

Market share of illicit cigarettes lowest in decade in Estonia

A study by the Estonian Institute of Economic Research (EKI) shows that illegal cigarettes accounted for 12-15% of the total volume of the domestic cigarette market in 2019, marking the lowest level in the past 10 years, cites LETA/BNS.

03.07.2020

Estonia: Swedbank to start providing solar loans

Swedbank starts offering unsecured loans from Friday ranging from 3,000 to 20,000 euros with a maximum duration of 10 years for the purpose of purchasing solar panels, informed LETA/BNS.

03.07.2020

Estonia to pay US law firm EUR 3 mln for advice on investigations into past AML cases

Estonian Minister of Finance Martin Helme has signed an agreement with the US law firm Freeh Sporkin & Sullivan for legal advice and representation in the United States in connection with international investigations into past anti-money laundering (AML) breaches, the cost of the contract is 3 mln euros, informed LETA/BNS.

03.07.2020

Estonia's loss in tax revenue due to untaxed wages totals nearly EUR 130 mln

A study carried out by the Estonian Institute of Economic Research (EKI) into the prevalence of cash-in-hand wages shows that unfair tax practices likely resulted in a 127-million-euro loss in tax revenue for the Estonian state in 2019, cites LETA/BNS.

02.07.2020

IMF: concentration of banking sector in Lithuania hasn’t restricted competition

High concentration in Lithuania's banking sector has so far not resulted in a lack of competition in this sector, Kristalina Georgieva, managing director of the International Monetary Fund, says, cites LETA/BNS.

02.07.2020

Investment Plan for Europe exceeds EUR 500 billion investment target ahead of time

The European Fund for Strategic Investments (EFSI) has mobilized 514 bn euros in additional investment across the EU since July 2015 -- reaching its target half a year before the end of the initiative, the European Comission said.

02.07.2020

SEB: Lithuania’s economy to fall by 6.7% in 2020

Lithuania’s economy had no obvious imbalances before the onset of the coronavirus crisis, which enabled it to withstand the hit dealt by the pandemic in spring and offered the country’s business a reasonably good potential to recover rapidly from the trough, which was experienced in the second quarter, in the remaining quarters of this year, the Scandinavian financial group SEB said on Thursday, cites LETA/BNS.

02.07.2020

Govt to allocate EUR 1.5 mln for organization of WRC stage in Estonia

The Estonian government at a sitting on Thursday approved the allocation of 1.5 mдn euros to the Ministry of Culture for the organization of a World Rally Championship (WRC) stage in Estonia,

02.07.2020

Valdur Laid resigns as director general of Estonian Tax, Customs Board

Valdur Laid, director general of the Estonian Tax and Customs Board, is to leave office from September 15 and head to the private sector, informs LETA/BNS.

02.07.2020

Latvian banks operated with EUR 17.4 mln in profit in Q1

The Latvian banking sector operated with EUR 17.438 million in profit in the first quarter of the year, which is a 4.2 times drop compared to the same period in 2019, writes LETA, according to the information from the Latvian financial regulator, the Finance and Capital Market Commission (FCMC).

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