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Sunday 24.06.2018 | Name days: Jānis

Estonia, trading CO2 pollution quotas, made 25 million euros in 2016

As part of the EU emissions trading system in 2016, Estonia earned over 23.5 million euros from selling in auction its unnecessary greenhouse gas emission units, the Baltic country’s Minister of the Environment has stated.

Google submits to EK pressure not to distort competition

Google has announced its search engine would not privilege its own shopping service over rivals in an push to avoid further fines from the European Commission fines, after the U.S. tech giant was punished by a record antitrust fine of 2.4bn euros in June.

Latvenergo enters Estonia’s gas market

Latvenergo’s energy trading company in Estonia – Elektrum Eesti – has commenced selling natural gas to business clients, as confirmed by the company.

Oil prices grow in New York but decline in London

Exchange indexes in USA and Europe increased after US President Donald Trump unveiled his tax reform plan on Wednesday, 27 September. The president’s tax plan provides for reducing corporate income tax rate from 35% to 20% and offering tax discounts for companies to ensure their profits return to USA from abroad.

EC fines Scania with 880 million euros for price fixing with rivals

Swedish truck and bus maker Scania has been fined 880m euros by the European Commission for cooperating with five other truck-factories to fix prices and avoid emissions costs.

Entrepreneur: Tokyo City case symbolizes a much more serious problem

It has become known recently that State Revenue Service’s Finance Police commenced a criminal process in relation to envelope wages and tax avoidance at Tokyo City restaurant network. However, this case is not as much about the company as it is about the possibility of such situations repeating, says entrepreneur and Jurmala airport board member Zane Driņķe.

Estonia wishes to attract 500 foreign ICT specialists in 2018

Estonian Minister of Entrepreneurship and Information Technology voiced government's plans to attract in 2018 no less than 500 foreigners, specialists in the information and communications technology field, to Estonia.

Latvijas Balzams not provided with CIT discount worth 4.24 million euros

On Tuesday, 26 September, Latvian Cabinet of Ministers decided to postpone the decision regarding the proposal to provide Latvijas Balzams with a corporate income tax discount worth EUR 4.24 million for the realization of a large investment project.

Programme: criminal process for Tokyo City envelope wages case commences

Following voiced suspicions regarding payment of envelope wages and tax avoidance at Tokyo City public catering company, Latvian State Revenue Service’s Finance Police has commenced a criminal process, as reported by LTV Aizliegtais paņēmiens programme with reference to unofficial information.

Estonian road carriers fear loss of competitiveness due to fuel excise hikes

Road logistics companies in Estonia dissatisfied with higher fuel duties considerably affecting their competitiveness in the region have turned to the Estonian parliament asking to find solutions to the situation.

Altum and EIF programme to allocate 15 million euros for businessmen

Altum development finance institution has signed a long-term cooperation agreement with European Investment Fund, which will provide guarantees for businessmen worth EUR 15 million as part of Cosme programme.

Making of biomethane fuel to be supported in Estonia

In Estonia, applying for state subsidies for the production of biomethane will open from 2018 and the Baltic country seeks to increase the consumption of the domestically produced and more environmentally friendly fuel.

Exporters look at air freight opportunities at Riga airport

Last week, representatives of more than 40 Latvian exporting companies gathered at Riga International Airport to look at air freight opportunities offered by the airport and companies working there.

EC: Money for Rail Baltica in next period will be negotiated

Funding of the Rail Baltica railway project after the year 2020 will be negotiated upon as part of the EU's financial plan for the next period, has stated the European Commissioner for Mobility and Transport.

Estonia plans to direct 300 million euros to healthcare

With the aim of improving the quality and access to Estonian healthcare, the country's government has backed amendments, which set forth increasing healthcare funding by 300 million over a period of five years

HTC agrees to sell part of its innovators and intellectual property to Google

U.S. computer technology firm Google has reached a deal with Taiwanese smartphone-maker HTC so that the latter would share part of its product development team and allow using HTC intellectual property.

Number of bankruptcies down in Latvia and Estonia but up in Lithuania

Last year, the number of bankruptcies declined 12.4% in Latvia and 10.9% in Estonia. Lithuania, on the other hand, had experienced a 35.2% increase in the number of bankrupt companies, according to information compiled by Coface.

Lithuania sets off alarm bells over quality of international brands' foods

What Lithuania‘s State Food and Veterinary service announced last Tuesday was big news in Lithuania, but not so of a discovery to the majority of Eastern European consumers - food of international brands sold in Western Europe and in Eastern Europe, and Lithuania, are not just the same.

Ozoliņš: transit and logistics industries should communicate more actively

Mutual communication and information exchange among businesses working in the industry is the pre-condition for improvement of Latvia’s transit industry, said Transport Ministry’s state secretary Kaspars Ozoliņš at a meeting of the Logistics Council.

Nordea and DNB merge to officially happen on 1 October

In accordance with the recent decision of the European Commission to approve the plans of Nordea and DNB Bank to merge their activities in Baltic States, the business deal will take place officially on 1 October 2017.

82% of Estonian households use mobile internet at home

As to the choice of internet connection in Estonia, 82% of Estonian households use mobile internet at home, Estonian statisticians have estimated.

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