International Internet Magazine. Baltic States news & analytics
Wednesday, 23.07.2014, 21:16
Ministers at today's European Union's General Affairs Council gave final approval for Lithuania to join the eurozone on January 1, Latvian Foreign Minister Edgars Rinkevics announced on Wednesday, informs LETA/AFP.
Keyword tags: EU – Baltic States, Financial Services, Lithuania
The 75.4 million euro funding by the European Commission and the Estonian government for buying new trains brought Estonian state-owned passenger train company Elron last year 68.6 million euros of profit, informs LETA reffering to Postimees.
According to the annual reports on protecting the EU's finances, the member states have to adopt all necessary measures to protect the EU budget, and to counter fraud and any other illegal activities affecting the EU’s financial interests. The states are obliged to report all irregularities (both fraudulent and non-fraudulent) to the Commission, which then compiles the annual report in line with the Lisbon Treaty (art.325 TFEU) provisions.
On Wednesday July 23rd , the General Affairs Council meeting will take the final decision allowing Lithuania to adopt the euro as its currency as from 1 January 2015. Lithuania will become the 19th EU member state to adopt the euro, informs ELTA/LETA.
World's largest non-alcoholic beverages producer "Coca-Cola Co." distributor "Coca-Cola HBC Latvia" has earned a smaller profit in 2013 than in 2012, informs NOZARE.LV/LETA reffering to information provided by "Firmas.lv".
During the General Meeting of Shareholders of Lietuvos Dujos held on 22 July, 2014 a decision was made to pay LTL 53.3 million (EUR 15.4 million) as dividends, or 18.3 Lithuanian cents per share, said the company in a statement, informs ELTA/LETA.
The Security Police have discovered a possible case of corruption at the Office of Citizenship and Migration Affairs that deals with illegal issuing of residence permits, informs LETA.
The introduction of the euro in Lithuania will bring not only economic benefits, but also will harness financial populism of politicians, says President Dalia Grybauskaite, informs ELTA/LETA.
The Baltic States are among the first in the European Union in regard to absorption of EU funds, nevertheless, Latvia is slightly behind Estonia and Lithuania, according to international business consultations company KPMG's study on the EU Structural Funds absorption rates in Central and Eastern Europe (CEE) at the end of 2013, informs LETA.
Latvian airline airBaltic has become the world’s first airline to accept Bitcoin as payment for its tickets to 60 destinations in Europe, Middle East, Russia and the CIS, reperted BC Janis Vanags, Vice President Corporate Communications.
Latvia's government debt to GDP ratio stood at 38.2 percent at the end of the first quarter of 2014 - the fourth lowest government debt across the European Union, according to the latest data from the EU's statistical office "Eurostat", informs LETA.
Increasingly more people choose to shop online - Swedbank statistics indicate that during the first five months of 2014, the amount of online purchases by Swedbank clients increased by 25 percent as compared to the respective period of 2013, reports LETA.
During the first six months of 2014, retail trade company "Maxima Latvija" turnover decreased as compared to the respective period of 2013, infoms NOZARE.LV/LETA reffering to "Maxima Latvija" spokesman Janis Beseris.
Analysis of the Household Budget Survey data compiled by the Central Statistical Bureau of Latvia (CSB) shows that in 2013 household consumption expenditure per household member was EUR 301, which is EUR 19 more than in 2012.
During the first six months of 2014, 331,000 counterfeit euro bills were withdrawn from circulation, the European Central Bank indicates, cites LETA.