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Sunday 24.06.2018 | Name days: Jānis

ABLV Bank responds to US FinCEN’s report on planned sanctions against it

ABLV Bank has submitted to US Department of Treasury’s Financial Crimes Enforcement Network answers to its February’s report on planned sanctions against the bank, as confirmed by representatives of the credit institution.

Danish DFDS buys the largest shipping group in Mediterranean zone

Danish shipping and logistics group DFDS has bought Turkey’s largest Ro-Ro cargo ship operator. This makes DFDS one of the biggest players in EU and Turkish trade, as confirmed by the company.

Chinese economy expands faster than expected in Q1

China's gross domestic product has increased by 6.8% from January to March official data indicate as they are somewhat above Beijing's forecasts for the period of a 6.5% growth.

Longest strike in Estonian history ends with pay rises

Slaughterhouse workers at the Rakvere Meat Processing Plant, which is owned by Finnish HKScan, are ending their strike on Monday, April 16, held since February 6.

Russian aluminium giant loses half its value because of US sanctions

The value of Russian aluminium giant Rusal declined by nearly 50% at Hong Kong exchange on Monday, 9 April due to the sanctions applied to the company by USA. These sanctions put the company at risk of partial insolvency.

Tallinn transport company worker in custody suspected of receiving EUR 2 million in bribes

In Tallinn, on suspicion of having taken bribes totalling two million euros, an assistant manager at the captal's transport Tallinna Linnatranspordi has been detained, according to Estonian media. The suspect is reported to be employed as an assistant manager at the company's bus repair workshops and to have been driving a Lamborghini sports car.

European sugar makers forced compete after EU quotas lifted

With the market-crippling sugar production quotas lifted, sugar producers in the European Union have found themselves fighting for survival as now they have to compete on the world market with higher production output and lower prices.

Estonian tax collector to repay 90 million euros to tax payers

Reflecting Estonian activity in the submission of their tax returns, the Estonian Tax and Customs Board has received tax reutrns from total of over 640 thousand people.

Bill aiming to help young families with housing may be discriminatory

The Lithuanian Government‘s endeavour to support young families through subsidising of their housing may hit a snag – the lawyers from the Parliament’s Law Committee warn that the enactment of the piece of legislation from July 1, 2018, as foreseen would discriminate against the couples living out of wedlock. Statistically, nearly half of Lithuanian couples cohabitate, i.e. opt not to tight the knot.

Normalisation in Estonian-Russian business contacts witnessed by transit entrepreneur

Despite political and military issues, the transit sector relations between Estonia and Russia have somewhat gotten better, believes Estonian-based businessman Anatoli Kanajev, who has struck a deal to sell container terminal operator Transiidikeskuse AS to German logistics company Hamburger Hafen und Logistik AG.

Kremlin's behaviour no obstacle to Germany's final support to Nord Stream 2

Despite Berlin's recent criticism of Russia's actions in the spy poisoning case and the Syrian civil war, German authorities have given a final go-ahead to the Nord Stream 2 natural gas pipeline from Russia planned to be built in the Baltic Sea.

Estonia's ability to change praised in index by Bertelsmann Stiftung

In the global transformation index compiled by the German Bertelsmann Stiftung, Estonia has been placed second out of a total of 129 countries. Lithuania and Latvia are also in the top ten.

Estonian Versobank loses operating license

The credit institution's license of Estonian lender AS Versobank has been withdrawn by the European Central Bank at the recommendation of the Estonian Financial Supervision Authority.

Stock exchanges on a rise in USA and Europe; oil prices decline

On Monday, 26 March, stock indexes increased in USA, increasing investors’ optimism for trade talks. In Europe, however, stock indexes declined, which was partially caused by increased euro value.

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