International Internet Magazine. Baltic States news & analytics
Sunday, 19.05.2013, 21:26
PMs of Latvia and the Czech Republic see opportunities to increase economic cooperation between countries
17.05.2013On May 17, during the meeting of Prime Minister of Latvia Valdis Dombrovskis and Prime Minister of the Czech Republic Petr Nečas, both officials shared the opinion that the relations of the two countries should focus on increasing mutual trade and exchange in investments, informs BC press secretary to the Prime Minister Mārtiņš Panke.
Keyword tags: Economics, Energy, EU – Baltic States, Financial Services, Investments, Latvia, Legislation, Markets and Companies
Excise tax revenue from alcohol in Latvia grew by 9% in Q1
17.05.2013Excise tax revenue from alcoholic beverages (excluding beer) increased 9% in the first three months of 2013, compared to the respective period in 2012, informs LETA/Nozare.lv.
Lithuanian banks cleverly avoid paying income tax
17.05.2013Lithuanian state budget collects around LTL 25 billion (EUR 7.25 billion) every year. A significant share of it is an income tax. Both last year and this year (2012 and 2013) around LTL 1.2 billion (EUR 348 million) of it will be collected, informs LETA/ELTA, referring to Respublika.
LHV Group buys Snoras Lizingas
17.05.2013Estonian financial group LHV Group acquired on Thursday 50 plus one share in Lithuanian leasing company Snoras Lizingas; the rest of the shareholding was acquired by Lithuanian investment company RAZFin, LETA/ Postimees Online reports.
Lithuania's income balance deficit grows in March
17.05.2013The excess foreign trade balance was offset by the growing income balance deficit; therefore, in March 2013, despite a one-third decrease, the current account balance (CAB) recorded a deficit, the Bank of Lithuania said in a statement, writes LETA.
Criminal proceeds of 1.9 mln euros worth confiscated by Estonian authorities in 2012
An analysis by the Estonian justice ministry indicates that criminal proceeds worth 1.9 million euros was confiscated in 2012, over a half of it in proceedings connected to narcotic substances, LETA/Public Broadcasting reports.
Rimsevics: it’s inconsiderate to plan additional expenditures in budget amendments
"At the moment, it would be inconsiderate to plan additional expenditures in the national budget amendments," Bank of Latvia President Ilmars Rimsevics told reporters yesterday, writes LETA/Nozare.lv.
Estonian budget collects 22% annual plan in 3 months
According to the Ministry of Finance, the Estonian state budget collected revenue of 1.64 billion euros in the first three months of the year, writes LETA/Postimees Online. This is 21.9% of the total amount planned in the 2012 budget.
EU Commission notes significant shortcomings in Latvia's reforms
The European Commission's post-program surveillance mission notes in a report that there are serious shortcomings in the reforms being implemented in Latvia, and says that the European Commission will keep a close eye on these reforms, informs LETA.
Bank of Latvia leaves interest rates unchanged in May
The Bank of Latvia Council today resolved to leave the interest rates and minimum reserve requirement set by the Bank of Latvia unchanged, the central bank's president Ilmars Rimsevics told a press conference today. The Bank of Latvia refinancing rate remains unchanged at 2.5%, writes LETA/Nozare.lv.
Biggest EUR 6.8 mln drug seizure in Lithuania's history
On May 12, the Lithuanian Customs officers detained at Lavorikes road, according to preliminary data, the largest smuggled drug shipment in the Lithuanian history, the authority said in a report, cites LETA/ELTA.
CPB carrying out search at Riga City Council's Transportation Department
The Corruption Prevention Bureau (CPB) today is carrying out a search of the Riga City Council's Transportation Department, LETA found out from the department itself.
Sixth person charged in Daimler affair in Latvia
The Prosecutor General's Office has charged a sixth person in the Daimler bribery affair – businessman Sergejs Zambers. The prosecutor on the case Velta Zaluksne told LETA that Zambers has been charged for complicity in large-scale money laundering of about EUR 540,000 (LVL 379,000).
LVL 4.735 mln worth of Krajbanka assets recovered in April
KPMG Baltics, the administrator of defunct Latvijas Krajbanka, recovered LVL 4.735 million worth of the bank's assets in April 2013, informs LETA/Nozare.lv.
Latvijas dzelzcels must choose between switching to electric trains and buying new diesels
The Latvijas dzelzcels Railroad Company will in the near future have to replace its locomotives for wear and tear, and the company is now considering a switch to electric trains. If money is invested in diesel trains, the railroad electrification project will have to be shelved for thirty years, the former "Estonian Railroads" head, now Latvijas dzelzcels Chief Engineer Kaido Simmermann says in an interview with the Nozare.lv business portal, cites LETA.
EU’s assessment of Latvian economic activity 
