International Internet Magazine. Baltic States news & analytics
Friday, 12.02.2016, 07:39
According to the flash estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased by 0.7% in the 4th quarter of 2015 compared to the 4th quarter of 2014.
Keyword tags: Analytics, Economics, Estonia, GDP, Markets and Companies
Small and medium-sized enterprises that are largely young, innovative, internationally-active and run by skilled managers are driving significant job growth across the European Union. EU agency, Eurofound highlights that SMEs were responsible for over 70% of employment growth in the non-financial business economy in 2014. Besides, there is an urgent need for further SMEs support if a rigorous recovery would be realised.
According to the Estonian Employers' Confederation, the plan of PKC Eesti to close its Keila plant and lay off more than 600 employees mainly shows that Estonia is too costly for the exporting industry operating on the world market among strong competition and therefore the critical limit has been reached, informs LETA/BNS.
Although the Keila city government found out about the plan of PKC to lay off 613 employees next year from the company's press release, it believes that it is possible to find new jobs for all the people, informs LETA/BNS.
Lithuania’s leading dairy producer Vilkyskiu Pienine saw its sales fall by an annual 32% to 4.7 million euros in January 2016, informs LETA/BNS.
Some of the cash registers installed by Lithuania’s largest supermarket chain Maxima support contactless payments already but the technology will not be put into use thus far, the Verslo Zinios business daily reports on February 11th, informs LETA/BNS.
Success of any country’s foreign policy is often measured by the stance of relationship with neighbors: Lithuania shares borders with Latvia, Belarus, Poland, and Russia's Kaliningrad Region. Significance of the Lithuanian-Belarus relationship goes beyond ordinary neighborhood: common history and modern geopolitical situation provide for creating good relations.
In 2015, the consolidated revenue of the listed Estonian retailer Tallinna Kaubamaja Grupp increased by 3.8% on year to 555.4 million euros, reports LETA/BNS.
The building of Riga Circus is not safe to the public and the circus must halt operations immediately, Culture Minister Dace Melbarde (National Alliance) told reporters today., cites LETA.
Livonia Partners, a pan-Baltic private equity firm, has acquired a majority holding in Ha Serv, Estonia’s timber industry company, for an undisclosed amount, informs LETA/BNS.
Albright Lietuva, the UK-owned manufacturer of switches and contactors located in the free economic zone (FEZ) of Klaipeda, plans to reach the peak production level in 2016 and will then consider options for expansion, look for new premises or start working in several shifts, the Verslo Zinios business daily reports on February 11th, cites LETA/BNS.
Meeting with visiting Georgian Foreign Minister Mikheil Janelidze in Tallinn on February 10th, Estonian President Toomas Hendrik Ilves reaffirmed Estonia's continued support for deepening reforms that concern all of Georgia's society and integration with the EU and NATO, reports LETA/BNS.
According to the latest data of the Central Statistical Bureau of Latvia (CSB) the average level of consumer prices decreased by 0.3% in January 2016 (1) as compared to January 2015. Prices of goods decreased by 1.2%, while prices of services increased by 2.1%.
Altogether 31,725, making up 5% of the working-age population, were registered as unemployed in Estonia at the end of January 2016, the Unemployment Insurance Fund reported BNS/LETA.
A total of 1,597 companies were registered in Estonia in January 2016, which is nearly 4% less than in January 2015, figures available from the Center of Registers and Information Systems show, informs LETA.