International Internet Magazine. Baltic States news & analytics
Monday, 06.07.2015, 08:07
In May, compared with May 2014, the volume of retail trade increased by 4.9% in Latvia, which is the fifth best growth among the European Union member states for which data are available, according to latest information provided by Eurostat. Estonia was second, writes LETA.
Keyword tags: Analytics, EU – Baltic States, Good for Business, Markets and Companies, Retail
President Dalia Grybauskaite has returned to Parliament for reconsideration the Law on Provision of Information to Public. If passed, the amendments would have allowed political parties to control media outlets and manipulate the public opinion, informs LETA/ELTA.
The Health Ministry in Latvia suggests that excise tax be imposed on several food products and crop protection products, and the relevant excise tax rates be increased for several product groups, which would generate an additional EUR 9.5 million in the state budget for the implementation of new policy initiatives.
In May 2015, producer prices in Latvia declined 0.1% from April, which was the smallest reduction in the EU, reports LETA, according to the latest report released by the EU statistical office Eurostat.
The retail turnover (including VAT) of the Apranga Group reached EUR 15.8 million in June 2015, and has increased by 8% in comparison to June 2014, the Group reports LETA/ELTA.
According to Statistics Estonia, in May 2015, the production of industrial enterprises decreased by 2% compared to May of the previous year. Production decreased in manufacturing and mining as well as in energy production.
The Belgian producer of caulks, polyurethane foams and adhesives Soudal has acquired the Dobele construction chemicals producer Tenacham, according to a statement posted on the Belgian company's website, cites LETA.
The European Commission has renewed integration efforts in the most complicated financial sphere – insurance service. The new Insurance Distribution Directive (IDD), intends to improve the way insurance products are sold and bring real benefits to consumers and retail investors. The IDD’s text has been approved by the EU’s “legislative trio”: the Parliament, the Council and the Commission.
The Estonian government approved on Thursday and sent to the parliament the law of amendments to the accounting law, the aim of which is to improve the quality and comparability of accounting information meant for the public and to reduce the administrative burden of micro and small entrepreneurs, LETA/Public Broadcasting reports.
As of July 2nd 2015, the Latvia State Radio and Television Center stops broadcasting OTV television channel of Ogres televizija Ltd., the Center's representatives informed LETA.
Prime Minister Algirdas Butkevicius says that Lithuania's GDP growth has not met projections because export still cannot recover from the embargo imposed by Russia, reports LETA/ELTA.
The Latvia-Russia Cross Border Cooperation Program for 2014-2020 has been submitted to the European Commission. The aim of the program is to facilitate sustainable socioeconomic growth of specific cooperation regions, the Environmental Protection and Regional Development Ministry informed LETA.
A war is brewing between Lithuanian dairy producers and processors. On July 1st 2015, two tanks of milk were poured out on the ground in a farm near Dotnuva, after processors unilaterally reduced the amount of milk to be purchased from cooperatives and farmers simply could not sell it, reports LETA/ELTA, referring to Vakaro zinios.
Statistics Lithuania and the Bank of Lithuania inform that in I quarter 2015, the foreign direct investment (FDI) flow into Lithuania and the Lithuanian direct investment flow abroad was on the increase. Please note that this news release presents FDI calculated by applying directional principle, i.e. by estimating reverse investment. Therefore, the data differ from the direct investment information provided in the balances of payments and international investment where assets and liabilities principle is applied for the calculation of the said investment.
According to Statistics Estonia, in May 2015 compared to May of the previous year, the retail sales of goods of retail trade enterprises increased by 8% at constant prices. While in April retail sales increased by 6% compared to the same month of the previous year, then in May the growth in retail sales accelerated slightly.