International Internet Magazine. Baltic States news & analytics
Friday, 29.05.2015, 13:13
Compared with 2013, funding for children's healthcare services n Latvia has grown by EUR 6 million, reaching almost EUR 86 million, reports LETA, according to information by the National Health Service.
Keyword tags: Financial Services, Latvia, Markets and Companies, Medicine
A survey conducted by the Estonian Institute of Economic Research showed that while in 2013, the Estonian state was deprived due to the payment of "envelope wages" of 154 million euros in tax revenue, the loss of tax revenue in 2014 because of this reason was 92.5 million euros, LETA/Public Broadcasting reports.
EUROC Lithuania celebrates the fifth birthday of the establishment. Within the past 4 years, EUROC expanded more than 5 times from the initial plan of 250 employees in 2010 to more than 1,300 employees today (2015 April). During this time, Western Union's (WU) centre in Lithuania has experienced the strongest growth in global WU scale, reported BC the agency Invest Lithuania.
In the first quarter of the year 2015, most credit unions made a profit to substantially improve their performance year on year; however, the quality of loans deteriorated. The ratio of specific provisions against loans, formed by credit unions, to loans increased, while non-performing loans, according to 1 April 2015 data, accounted for more than a fourth of total loans, reported BC the Bank of Lithuania.
Latest data compiled by the Central Statistical Bureau (CSB) show that in the 1st quarter of 2015 the average monthly gross wages and salaries accounted for 785 euros. The average wages and salaries kept increasing; however, growth rate has been slowing down.
President Dalia Grybauskaite supports the creation of a southeast Lithuania development fund aimed at improving the situation in Vilnius district, Salcininkai, Visaginas and other municipalities. In the autumn 2015, the Lithuanian Parliament should decide on the establishment of the fund, informs LETA/ELTA.
The Commission proposed a 2016 EU budget of €143.5 billion to support the recovery of the European economy and help improve lives in Europe and beyond. The money will be invested to boost innovation, create jobs, help convergence among the member states and among regions, deal more effectively with migration and further strengthen the role of the EU as a global player.
Joint-stock Rietumu banka operated with EUR 19.48 million in three-month profit of 2015, the bank said in a financial statement released today, cites LETA.
On Thursday morning, Lithuanian Prime Minister Algirdas Butkevicius met with Bengt-Ake Fagerman, CEO of Skandia, one of the largest Sweden's banking and insurance groups. CEO Fagerman presented to the PM Thule Customer Service Centre, to be opened up in Lithuania. Butkevicius in his turn emphasized the benefit of Sweden's investment to Lithuania, as well as discussed future prospects, reported BC the press service of the Government.
In the first quarter of 2015, joint-stock ABLV Bank posted profit of EUR 20.1 million. Other major performance indicators of the bank remained high as well, informs LETA.
The Commissioners initiated an orientation debate on measures to make corporate taxation in Europe fairer, more growth-friendly and transparent. It was agreed that a new EU approach to corporate taxation is needed to successfully address tax abuse, ensure sustainable revenues and foster a better business environment in the internal market.
Saeima in Latvia decided in the final reading today to pass amendments to the Consumer Rights Protection Law, stipulating stricter regulations on the so-called "quick" loans, including a prohibition to issue loan agreements during the nighttime hours.
In the aftermath of the financial crisis, there has been a considerable amount of debate on how best to tackle the 'too-big-to-fail' issue, and much has been done since then to build up and strengthen the Banking Union. The Banking Structural Reform proposal comes as the last building block of the Banking Union, reports eu2015.lv.
The idea of a reduced personal income tax rate should be dropped, according to the president of the Bank of Latvia, Ilmars Rimsevics, in an interview on the LTV morning show "Rita panorama", cites LETA.
Latvia: for the growth in developing countries, financial support and their capacity to implement reforms are of equal importance
The Latvian Foreign Ministry’s Parliamentary State Secretary for EU Affairs, Zanda Kalniņa-Lukaševica, during discussions at the Foreign Affairs Council on Development which took place in Brussels on 26 May, stressed that “financing for development is but a small part of support available for developing countries, reports BC the Latvian MFA.