Markets and Companies

International Internet Magazine. Baltic States news & analytics Sunday, 04.12.2016, 03:54

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President returns amended regulation on microenterprise tax to Saeima for revision

President returns amended regulation on microenterprise tax to Saeima for revision

02.12.2016

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



airBaltic sets out to become biggest carrier in Tallinn

airBaltic sets out to become biggest carrier in Tallinn

02.12.2016

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.

Exadel to quadruple its Lithuanian team as part of €19 million investment

Exadel to quadruple its Lithuanian team as part of €19 million investment

02.12.2016

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.


Veolia's Vilnius co fails to pay Danpower Baltic for heat energy

Veolia's Vilnius co fails to pay Danpower Baltic for heat energy

02.12.2016

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.

Police investigating possible money laundering in criminal process against Privatbank

Police investigating possible money laundering in criminal process against Privatbank

02.12.2016

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.


02.12.2016

Reform of micro enterprise tax to be postponed until adoption of new regulation

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.

02.12.2016

Latvia’s Grindex phamaceutical company plans to invest EUR 4 mln in development next year

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.

02.12.2016

Latvia's airBaltic will gradually renew fleet with Bombardier CS300 aircraft

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.

01.12.2016

Restoring Estonia's competitive edge requires action plan

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.

01.12.2016

Nokia brand licensee HMD Global is now the new home of Nokia phones

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.

01.12.2016

Investors subscribe Baltic Horizon Fund's units for EUR 20.6 mln

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.

01.12.2016

Practically no growth in the third quarter

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.

01.12.2016

Baltic business of MTG media holding might attract interest from Russia

The Baltic business of Swedish media holding Modern Time Group (MTG) might attract interest also from Russia, the surveyed experts told LETA.

01.12.2016

Cido Grupa has launched exports to the United Arab Emirates this year

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.

30.11.2016

Nokia and Hewlett Packard Enterprise expand collaboration on Enterprise of Things

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.

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