International Internet Magazine. Baltic States news & analytics
Sunday, 04.12.2016, 03:54
President Raimonds Vejonis today returned the amended Law on Microenterprise Tax to Saeima for revision. The president believes that the regulation offered by Saeima is flawed and contradicts earlier decision on which entrepreneurs and society had counted, LETA was told at the president’s office
Keyword tags: Good for Business, Latvia, Law and Regulations, Markets and Companies
Latvian national airline airBaltic has set a goal to become the biggest carrier in Tallinn Airport and the company has also abandoned the plan to buy Russian planes, informs LETA/BNS.
As the new Vilnius office of Exadel, an international software engineering company, opens its doors, the company has announced ambitious plans to grow its operations in Lithuania. The US-based company currently employs over 50 specialists in Lithuania, and is now planning to recruit a further 150 staff in the coming two years. This recruitment drive is part of a long-term, five-year development plan for which the company plans to invest €19 million.
With its accounts being frozen by a court, Vilniaus Energija (Vilnius Energy), a local district heating supplier controlled by France's Veolia, is not paying Danpower Baltic, a German-Lithuanian joint venture, for the heat energy its has produced, reported LETA/BNS.
he State Police's Economic Crime Prevention Department continues the investigation launched from the materials received from the Financial Capital and Market Commission into possible violations carried out by joint-stock PrivatBank, which includes possible money laundering, informed LETA.
The planned reform of micro enterprise tax, which is charged on small enterprises in Latvia, will be postponed until a new alternative regulation is adopted, Prime Minister Maris Kucinskis (Greens/Farmers) and Economics Minister Arvils Aseradens agreed with the Latvian Chamber of Commerce and Industry (LCCI) on Friday, BC told LCCI representative.
Latvia’s Grindex pharmaceutical company plans to invest up to EUR 4 mln in development next year, the company reported to Nasdaq Riga stock exchange.
Latvia’s national carrier airBaltic will gradually renew its fleet with CS300 aircraft made by Canadian Bombardier and will sell its Boeing 737 planes, the company’s CEO Martin Gauss told the press LETA on Friday.
Estonia's cheap labor advantage compared with West Europe as well as quality advantage compared with East Europe are gone and therefore an action plan is needed, 40 companies focused on export find in a survey carried out by KPMG Baltics.
Nokia confirms that the strategic agreement covering branding rights and intellectual property licensing with HMD Global Oy (HMD), originally announced on May 18, 2016 has come into force.
During a follow-up public offering of Baltic Horizon Fund, a recently listed closed-end real estate fund, investors subscribed units worth 20.6 million euros and the fund has decided to allocate each investor all units they subscribed for.
The weak economic growth in Latvia is still attributable to the fast drop in investments. The information published today by the Central Statistical Bureau indicates that gross domestic product (GDP) has grown by 0.2% (at constant prices; seasonally and working day adjusted data) quarter-on-quarter and year-on-year growth has been only 0.3%. Full GDP estimate is 0.4 p.p lower than the flash estimate published at the end of October.
The Baltic business of Swedish media holding Modern Time Group (MTG) might attract interest also from Russia, the surveyed experts told LETA.
The Latvian beverage producer Cido Grupa has launched juice exports to the United Arab Emirates this year, thus expanding the assortment of products which is being exported to this region, the company's spokeswoman Inese Lielpinka told LETA.
Companies will focus on IoT solutions for smart city and industrial/manufacturing customers, with initial offerings planned for early 2017. Partnership strengthens portfolios of both companies and go-to-market capabilities in market forecast to reach 161 billion USD by 2020. Current partnership includes deals with more than 25 service provider and enterprise customers.