Financial Services

International Internet Magazine. Baltic States news & analytics Thursday, 05.05.2016, 02:05

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EU Commission lowers Estonia's 2016 economic forecast to 1.9%; 2.8% GDP growth for Lithuania and Latvia

EU Commission lowers Estonia's 2016 economic forecast to 1.9%; 2.8% GDP growth for Lithuania and Latvia

03.05.2016

The European Commission expects the Estonian economy to grow 1.9% in 2016 and 2.4% the next year, it appears from the newly-released spring 2016 economic forecast. Lithuania's GDP growth will accelerate to 2.8% this year and to 3.1% next year. Commission predicted that Latvia's GDP will increase 2.8%, informs LETA/BNS.

Keyword tags: Analytics, Economics, EU – Baltic States, Financial Services, GDP, Markets and Companies



TV: Baltic Taxi has created a system to avoid paying VAT

TV: Baltic Taxi has created a system to avoid paying VAT

03.05.2016

Taxi company Baltic Taxi in 2015 managed to avoid the State Revenue Service's penalty of more than EUR 400,000 through an insolvency process, it has also created a network of over 150 companies, which in fact make it possible for Baltic Taxi not to pay value added tax, Latvian Television investigative news program Aizliegtais Panemiens (Sucker Punch) reported last night, cites LETA.

39 employees of Latvian Revenue Service to be rotated

39 employees of Latvian Revenue Service to be rotated

03.05.2016

Kaspars Cerneckis, State Revenue Service’s deputy general director in the area of combating crime, has been rotated to the position of the director of the tax debt enforcement department, said State Revenue Service General Director Inara Petersone in a press conference on May 3rd, informs LETA.


Latvian insurers suffer almost EUR 2 mln loss from auto insurance in Q1

Latvian insurers suffer almost EUR 2 mln loss from auto insurance in Q1

03.05.2016

In the first quarter of 2016, Latvian insurance companies incurred a loss of EUR 1.97 million from motor third party liability (MTPL) insurance, informs LETA, according to the Motor Insurers' Bureau of Latvia.

Swedbank lends EUR 32 mln to Latvian Railroad for modernization of locomotives

Swedbank lends EUR 32 mln to Latvian Railroad for modernization of locomotives

03.05.2016

Swedbank and the Latvian state-owned railway company Latvijas Dzelzcels (Latvian Railroad, LDz) have signed an agreement about two long-term loans for 10 years and 15 years respectively for a total amount of EUR 32.26 million to be spent on modernization of locomotives, informs LETA.

03.05.2016

Citadele Banka Group's profit reaches EUR 7.7 mln in Q1

JSC Citadele Banka Group's profit was EUR 7.7 million during 1Q 2016; the results are similar to 1Q 2015. During the reporting period, Citadele introduced various innovations: it launched loans especially designed to make financing more accessible for small and medium enterprises.

03.05.2016

Another two ships of Lithuanian Shipping Company auctioned for EUR 4.4 mln

Another two ships of the bankrupt Lietuvos Juru Laivininkyste (Lithuanian Shipping Company, or LJL) changed hands at a repeat auction on May 3rd, 2016 for a total of 4.42 million euros following the sale of a vessel at the first auction earlier this year, informs LETA/BNS.

03.05.2016

Estonian Kredex provides guarantee for EUR 32.5 mln worth of housing loans in Q1

Estonian banks issued in the first quarter 524 housing loans in the amount of 32.5 million euros against surety provided by Kredex, informs LETA/BNS.

03.05.2016

49,435 business operators in Latvia pay micro enterprise tax in May

From September 1, 2010, when the micro enterprise tax was introduced in Latvia, till May 1, 2016, Latvian authorities have received a total of 77,658 applications from tax payers seeking the status of microenterprise tax payers.

03.05.2016

Bulk Cargo Terminal in Klaipeda to pay out EUR 3.5 mln as dividends

Biriu Kroviniu Terminalas (Bulk Cargo Terminal, or BKT), in which Belarus' fertilizer manufacturer Belaruskali holds a stake, is set to pay out 3.5 million euros as dividends to its shareholders after posting a 9.5-million-euro net profit for 2015, informs LETA/BNS.

03.05.2016

EUR 51.6 mln available for Latvia-Lithuania cooperation projects from ERDF

There are EUR 51.6 million of funding available for Latvia-Lithuania cooperation projects from the European Regional Development Fund (ERDF), the Latvian Ministry for Environment and Regional Development announced LETA.

03.05.2016

Increase of airBaltic share capital completed

On May 2nd 2016, the Shareholder Meeting of airBaltic decided the share capital increase of the Company by 131 152 036 shares with the nominal value of each share being EUR 1. The newly approved share capital of airBaltic will now constitute EUR 256 472 824, composed of 256 472 824 shares, informed BC Janis Vanags.

02.05.2016

Ministry supports Estonian local governments with EUR 3,000 per refugee

Estonian Social Ministry is to allocate 3,000 euros per refugee to the city governments of Tallinn, Tartu and Haapsalu for the 19 refugees, who have arrived in Estonia in the past five weeks under the European Union's migrant relocation program, informs LETA/BNS.

02.05.2016

Latvian Audit Office urges Economics Ministry to consider ending privatization process

The State Audit Office in Latvia has called on the Economics Ministry to improve management of the Latvian Privatization Agency (LPA), to assess contribution of the LPA board towards attaining the agency's goals and also suggested that the ministry should consider setting a specific deadline for completion of the privatization process, informs LETA.

02.05.2016

Employees in Latvia would like to receive EUR 1,122 in net monthly wage

Most employees in Latvia would like to receive EUR 1,122 in net monthly wage, a new survey by TNS pollster shows, cites LETA.

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