International Internet Magazine. Baltic States news & analytics
Thursday, 29.01.2015, 20:20
According to Statistics Estonia, in 2013, 22.1% of the Estonian population lived in relative poverty and 8% of the Estonian population lived in absolute poverty.
Keyword tags: Analytics, Education and Science, Estonia, EU – Baltic States, Financial Services, Society
The SEB Estonia bank earned last year a profit of 75 million euros, which was by a million more than in the previous year, LETA/Postimees Online reports.
At his meeting with Jose Angel Gurria, Secretary-General of the OECD, on Wednesday in Tallinn, Estonian Prime Minister Taavi Rõivas stated that the growth in productivity and lowering labour taxes that are highlighted in the OECD report are also an important part of Estonian Government policy, reports BC the Government Communication Unit.
In an interview on Latvian Television this morning, State Revenue Service General Director Inara Petersone said that during her discussions with the management of the Gan Bei restaurant chain this week, she believes that the company has realized its mistakes and would like to continue work, informs LETA.
The Estonian government approved at its Thursday meeting of the state pension index value for the year 2015, as the result of which, the average increase of pensions from 1 April 2015 is 6.3%, LETA/Public Broadcasting reports.
As of the end of 2014, the Estonian stabilisation reserve volume was 367.1 million EUR in acquisition value and 368.9 million EUR in market value, LETA/Public Broadcasting reports.
According to preliminary data, unaudited net profit earned over the year 2014 by AB SEB bankas is EUR 65.3 million (LTL 225.6 million) and by AB SEB bankas Group – EUR 72.4 million (LTL 249.9 million), the bank announced in a statement, cites LETA/ELTA.
With the coming into effect of the Single Euro Payments Area (SEPA) requirements from 2016, domestic businesses will have to use uniform rules and formats for credit transfers and direct debit across the SEPA. They are being discussed today with payment market participants at the SEPA forum, taking place at the Bank of Lithuania, reports LETA/ELTA.
By now around 25 Estonian milk producers have announced that they intend to completely or partially close their farms, concerning a total of 3,500-8,000 cows or 3-8% of the Estonian dairy cattle, due to the tense situation at the market, LETA/Eesti Päevaleht writes.
The bill, which would have set restrictions on the consumer credit annual percentage rate and limited the use of arbitration courts, surprisingly failed on Wednesday in the Estonian Riigikogu, LETA/Postimees Online reports.
Following lengthy debates, the Saeima Budget and Finance (Taxation) Committee in Latvia approved in principle a draft bill which sets the microenterprise tax rate at 9% in the first three years since the company's registration, reports LETA.
The operational losses of Nordea bank in Latvia last year reached EUR 27.4 million, the bank informed LETA.
DeCrypto OÜ launched in Tallinn a terminal for exchanging euros into virtual currency bitcoins, LETA/Postimees Online reports.
Latvia is ranked 37th in terms of economic freedom worldwide, according to the 2015 Index of Economic Freedom by the "Heritage Foundation" think tank and "The Wall Street Journal".
Nordea Estonia that belongs to leading European finance group Nordea Group, earned 37.7 million euros in profits in 2014, which is 42% more than in 2013, LETA/Postimees Online reports.