International Internet Magazine. Baltic States news & analytics
Sunday, 29.05.2016, 03:04
Russia will extend the embargo on food imports from the EU member states and other countries until the end of 2017, Russian Prime Minister Dmitry Medvedev announced on May 27th, cites Interfax/LETA.
Keyword tags: Baltic States – CIS, EU – Baltic States, Foodstuff, Legislation, Markets and Companies, Russia
The Lithuanian and Algerian authorities are finalizing veterinary certificates for Lithuanian meat product exports to the North African country, the daily Lietuvos Zinios reported on Friday, cites LETA/BNS.
Although several large companies listed on the Tallinn stock exchange are paying more dividends in 2016 than last year, analysts are forecasting that as a result of wage pressure and smaller investments companies are to pay less dividends next year, the daily Postimees reports, cites LETA/BNS.
The Estonian bargain website operator Cherry Media OU is to end its operations on May 27th, while the services previously bought by customers are guaranteed with contracts and most of the clients will not experience a loss, informs LETA/BNS.
Regardless of highly developed technology infrastructure, Latvia is the second worst performing country in the EU in integration of digital technology, according to the European Commission's Digital Economy and Society Index (DESI), cites LETA.
Society and the government both share the responsibility for the shadow economy, believes Latvian president Raimonds Vejonis, informs LETA.
Vilniaus Prekyba, the owner of Lithuania's grocery chain Maxima, the drugstore chain Eurovaistine and the DIY-chain Ermitazas, posted 3.17 billion euros in consolidated revenue, not including VAT, for 2015, up 3.7% from 3.06 billion euros in 2015, informs LETA/BNS.
Electronics wholesaler Tendem Neman became Latvia’s biggest tax debtor in May 2016, owing EUR 41.53 million in unpaid taxes to the state budget, informs LETA, according to information available in the State Revenue Service’s database.
The recommendations provided by the Organization for Economic Cooperation and Development (OECD) gave a strong stimulus to carry out the necessary reforms in Latvia, particularly to clamp down on corruption and money laundering, as well as to enhance the management of state-owned enterprises, Foreign Minister Edgars Rinkevics (Unity) believes, cites LETA.
Enterprise Estonia (EAS) is not planning to adopt the "Just Estonishing" branding concept put forward for free by the Dutch national Peter Kentie, managing director of the city and region of Eindhoven and an e-resident of Estonia, finding that the concept does not enable to market the country well enough outside the English-speaking world, informs LETA/BNS.
Estonia's Minister of Economic Affairs and Infrastructure Kristen Michal supports the proposal of the Commissioner responsible for the EU digital single market, Andrus Ansip, to do away with geoblocking in the union, since it would ensure access for Estonians to e-commerce all over the European Union, informs LETA/BNS.
The Estonian government has approved a bill of amendments to the Aliens Act, informs LETA, according to which foreigners would be allowed to temporarily work in Estonia for up to 9 months a year.
In the first quarter of the year 2016, the highest office space rental prices in the Baltic countries were in Vilnius and at the same time vacancy was the lowest in the Lithuanian capital, Colliers said in its Baltic property overview, cites LETA/BNS.
In 2015, the amount of new direct investments in Europe has grown with 5,083 new direct investment projects implemented in Europe, which is by 14% more than in 2014, creating 217,666 new workplaces, up 17% year-on-year, according to the annual EY Europe Attractiveness Survey, informs LETA.
EU Commission tells Lithuania and Latvia to amend laws regulating farmland purchases or face lawsuit
The European Commission has officially demanded that Latvia, Lithuania, Bulgaria, Hungary and Slovakia amend their legislation regulating purchases of agricultural land, arguing that they restrict free movement of capital and the freedom of doing business, warning that it might take the above countries to the Court of Justice of the European Union, informs LETA.