US car giant Ford Motor will shut all its Australian manufacturing plants by October 2016, after more than 85 years of making vehicles in the country.
On Wednesday, May 22, the Enterprise Register of the Republic of Latvia registered a joint company - Kredītinformācijas Birojs – founded by a number of Latvian commercial banks – SEB bank, Swedbank, Nordea, DNB bank, Citadele bank and ABLV Bank. The goal of the newly founded enterprise is to have it function as a credit bureau.
The Baltic States continue to come close to the average level of the European Union – in the middle of 2011, the average income per capita in the Baltic states were above the peak of the pre-crisis period.
The Baltic States have been the most rapidly growing economies in the European Union lately, and they can retain their positions in the future as well. Economic growth in Latvia and Lithuania is expected to slow down this year. That in Estonia will remain unchanged – 3.3% respectively.
Apple found itself in front of a Senate Subcommittee Tuesday, May 21, defending its elaborate practice of keeping cash offshore in order to minimize their tax liability. But Apple is far from the only company that does this.
The company responsible for oil deposits surveying in the Baltic Sea in Latvia's economic zone near Liepaja – Balin Energy with its Ocean Nomad drilling platform has reached 525 m depth below sea level.
It has been unveiled in a leaked EU report that close to 60 percent of the clients of a Cypriot bank are «high risk» as regards money laundering and a large part of all bank depositors' files present errors.
U.S. Senate has released a lengthy report outlining the corporate strateges the hi-tech giant has employed to avoid paying billions in U.S. taxes.
Compared to their colleagues in Estonia and Lithuania, Latvian businessmen are used to working longer hours. At the same time, they devote less time to physical activities than their counterparts in Estonia, even though they are more active than Lithuanians.