Financial Services

International Internet Magazine. Baltic States news & analytics Saturday, 29.08.2015, 15:36

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Latvian ministries' spending to be reduced EUR 12.4 mln in 2016

Latvian ministries' spending to be reduced EUR 12.4 mln in 2016

28.08.2015

During an emergency meeting on August 27th, the government of Latvia discussed budget cuts in 2016 and agreed that ministries' spending would be reduced 3% or EUR 12.4 million in total, but spending cuts will not concern four priorities – defense, security, healthcare, and education, informs LETA.

Keyword tags: Budget, Financial Services, Latvia, Legislation, Markets and Companies



Annual salaries in Latvia increase by 5.5% on average in 2015

Annual salaries in Latvia increase by 5.5% on average in 2015

28.08.2015

Monthly wages in Latvia have increased 3.7% on the average, and the overall annual salaries by 5.5%, furthermore, most employers are planning to increase wages in 2016, reports LETA, according to the annual survey carried out by the human resource management consulting company Fontes.

Lithuanian president: government is responsible for the loss of EU funding for the Rail Baltica signalling system

Lithuanian president: government is responsible for the loss of EU funding for the Rail Baltica signalling system

28.08.2015

President of Lithuania Dalia Grybauskaite says the Ministry of Transport and Communications and the Government are responsible for the loss of European funding for the Rail Baltica signalling system. Moreover, the inability to prepare attractive funding project for Brussels shows poor communication with the European Commission (EC), writes LETA/ELTA.


Average income of Estonian tax-payers grew by nearly 5% in 2014

Average income of Estonian tax-payers grew by nearly 5% in 2014

28.08.2015

According to the Tax and Customs Board, the average annual gross income per person in 2014 grew by 4.8% in the year-on-year comparison, to 11,758 euros, writes LETA/Postimees Online.

Latvian banking sector's profit at EUR 257.5 mln in 7 months

Latvian banking sector's profit at EUR 257.5 mln in 7 months

27.08.2015

The Latvian banking sector operated with a profit of EUR 257.5 million in the first seven months of 2015, reports LETA, according to the Financial and Capital Market Commission's preliminary data about Latvian banks' performance in the first half of the year.

27.08.2015

40 NGOs in Baltics may have received EUR 1.5 mln from Russia

By comparing data available from two Russian funds and annual reports of Baltic non-governmental organizations, the Baltic investigative journalism center "Re:Baltica" has found more than forty organizations in the Baltic countries through which at least EUR 1.5 million has been channeled into the Baltic NGO sector from Russia during the past three years, cites LETA.

27.08.2015

Automobile tax and excise tax on fuel must not be raised if road maintenance funds are not increased in Latvia

Increasing automobile tax and the excise tax on fuel, and at the same time ignoring funding for road construction and maintenance, is unacceptable, Latvian Transport Minister Anrijs Matiss (Unity) said in commenting on proposals for the 2016 state budget, reports LETA.

27.08.2015

75% young persons in Estonia save up for trips abroad or to buy real estate

SEB initiated a survey in the Baltic States on young persons' financial behaviour and lifestyle and found that youth in Estonia are not as diligent in planning their budgets as their Latvian and Lithuanian peers, writes LETA/National Broadcasting.

27.08.2015

Latvian Land Fund buys first three land plots

The Latvian Land Fund (Latvijas zemes fonds) has signed the first three agreements on farmland purchases – land plots in Skrunda, Lielvarde, and Vane counties, as the fund's representative Kristine Grauzina told LETA.

27.08.2015

Lithuanian PM: pension growth will depend on economic growth

Prime Minister of Lithuania Algirdas Butkevicius says the decision over possible pension raise from January 2016 will be made taking into consideration economic indicators of the fourth quarter of 2015 and tendencies for the next year, informs LETA/ELTA.

26.08.2015

Volume of housing loans issued in Estonia in July rose to highest level in recent years

The Bank of Estonia reported that the volume of loans and leasing contracts issued to Estonian enterprises and households grew by 259 million euros to 15.9 milliard euros, while financing portfolio grew by 4.1% in the year-on-year comparison, writes LETA/National Broadcasting.

26.08.2015

Port of Tallinn executives detained; suspected of corruption

Officers of the Security Police Board detained CEO of the Port of Tallinn Ain Kaljurand and member of the Management Board Allan Kiil on August 26th, writes LETA/Postimees Online.

26.08.2015

Number of companies with tax debts grew in H1 in Estonia

After a declining trend that lasted for five years, the number of companies with tax debts has started growing again in the first half of 2015, writes Äripäev.ee/LETA.

26.08.2015

Danske: falling emerging markets will not have major impact on Lithuania

Falling stocks in China and other emerging markets will not have a major direct impact on Lithuania, whose export to India, China and the Southeast Asia amounts to less than 1% of the total export. What will pose more problems is the decreasing purchasing power in Russia and other countries of the Commonwealth of Independent States, writes LETA/ELTA.

26.08.2015

Latvian PM: all ministries' budgets to be reduced by 3% in 2016

On August 25th night, the government of Latvia reached agreement in principle on additional budget revenue and reducing almost all ministries' budgets by 3% in 2016, Prime Minister Laimdota Straujuma (Unity) told reporters, cites LETA.

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