International Internet Magazine. Baltic States news & analytics
Wednesday, 23.04.2014, 14:55
Eesti Pank: risks to Estonian financial stability from the external environment have increased
23.04.2014The risks to the functioning of the Estonian financial sector are small, but the external environment is fragile, Estonia's central bank Eesti Pank said in its fresh financial stability report on Wednesday, cites LETA.
Keyword tags: Analytics, Baltic States – CIS, Economics, Estonia, EU – Baltic States, Financial Services, Markets and Companies
Finance Ministry cuts Latvia's annual growth forecast to 4% in 2014-2016
23.04.2014The Finance Ministry of Latvia has lowered its annual economic growth forecast for Latvia from 4.3% to 4% during the 2014-2016 period, informs LETA.
EBRD joins Estonian VKG oil shale industry loan syndicate
23.04.2014The European Bank for Reconstruction and Development (EBRD) made a decision this month to grant a loan to Estonian shale oil producer Viru Keemia Grupp (VKG), LETA/Public Broadcasting reports.
Estonian state budget collects 22.9% annual revenue in Q1
23.04.2014According to the Ministry of Finance, the Estonian state budget collected revenue of 1.84 billion euros in the first three months of the year 2014, which is 22.9% of the total amount planned in the budget for the year, LETA/Postimees Online reports.
Electricity bourse price at NPS at lowest level in almost 2 years in March
23.04.2014The system price of electricity at the Nordic electricity bourse Nord Pool Spot (NPS) fell in March in all price regions, the last time the monthly price was as low was in summer 2012, LETA/Postimees Online cites Estonian main grid company Elering.
Uspaskikh: monthly minimum wage in Lithuania has to stand at EUR 435 by end-2014
Labour Member of Parliament in Lithuania Viktor Uspaskikh, has stated that by the end of 2014 the monthly minimum wage in Lithuania has to be increased to LTL 1,500 (EUR 435), informs LETA/ELTA.
Three persons suspected of causing Riga Castle fire
Three persons are suspected of causing the fire at the Riga Castle in June 2013 – the three were responsible for fire safety during renovations, as State Police Criminal Police Administration Chief Andrejs Grisins told reporters yesterday, informs LETA.
Kredex: 64% Estonian companies have used a loan to finance activities
A companies' awareness and satisfaction study commissioned by the Estonian state-owned foundation Kredex indicates that 64% of Estonian companies have used a loan to finance their activities while among exporting companies, 72% had used a loan, LETA/Postimees Online reports.
Bigbank fined with EUR 13,000 for unfair business practice in Latvia
The Customer Protection Center in Latvia has ordered the joint-stock company Bigbank to halt unfair commercial practice and ordered Bigbank to alter the procedure for calculating interest applicable to agreements signed from December 2, 2008 to April 30, 2011, informs LETA.
In 2013, general government deficit in Lithuania stood at 2.15, debt – 39.4% of GDP
Statistics Lithuania informs that in 2013, according to provisional data, the general government deficit totalled LTL 2570.4 million, or 2.15% of GDP. Over the year, the general government deficit decreased by LTL 1 123.6 million. In 2012, this indicator stood at 3.24% of GDP.
SEB: after years of crisis, Estonians choose new homes based on long-term prospects
Held under the leadership of SEB last week, a meeting of real estate buyers and sellers in Estonia confirmed that someone buying a new home today must both carefully consider their family's actual needs and compare real estate offers that meet those needs before making a decision; often, a family will establish their borrowing capacity at the bank before even inspecting property for sale, the press service of the banking group SEB said in a statement.
Eesti Pank: indebtedness of companies and households continued to decline in 2013
The indebtedness of Estonian companies and households continued to decline last year, Estonia's central bank Eesti Pank said in its fresh financial account statistics, cites LETA.
Lithuanian state-owned enterprises earned EUR 140 mln normalized net profit in 2013
Based on preliminary data, the Lithuanian state-owned enterprises (SOEs) were 11.9% more profitable in 2013 than in 2012 – the enterprises earned LTL 484 million (EUR 140 million) in normalized net profit (net profit, following the elimination of non-standard state taxes and the effect of the bankruptcies of two local banks), informs LETA/ELTA.
Estonia toughens state procurement requirements
The Estonian state will toughen the requirements of participating at state procurements, in order to keep tax evaders and fraudulent bidders away, hoping this way to gain around 8 mln euros for the state budget, LETA/Postimees writes.
In Q1, Lithuanian budget received EUR 1.553 bln revenue
According to the data of the Ministry of Finance, in January-March 2014, the state and municipal budgets received LTL 5.363 billion (EUR 1.553 billion) in revenue. This is by 0.9% or LTL 48 million (EUR 13.9 million) more than expected and 10% more year-on-year, informs LETA/ELTA.
Waiting for the banking union to come…
