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Friday 06.12.2019 | Name days: Niklāvs, Niks, Nikolajs

Danske money laundering scandal in Estonia continues with eight arrests

As the Estonian Office of the Prosecutor General is investigating money laundering in the billions of euros at the Estonian branch of Danske Bank between 2007 and 2015, eight people have been arrested, ERR and Postimees daily report.

Orkla Confectionery & Snacks Latvija invests EUR 53,000 in biscuit production plant

Chocolate and confectioneries production company Orkla Confectionery & Snacks Latvija has invested more than EUR 53,000 in modernization of a biscuit and waffle production plant located on Artilērijas Street. Additional funding has allowed the company to install a powder sugar dosing pot.

Companies fined 33,268 euros for distorting competition in public procurements

Latvia’s Competition Council has discovered illegal coordination of activities between SIA Tomega and SIA BTK.LV on multiple occasions. The council has decided to fine SIA Tomega EUR 33,268 for intentionally distorting competition in public procurement procedures.

VNT: overall situation in the Latvian transit sector is extremely dire

VNT has experienced 5% growth in last 11 months over the same period 2017 only as a result of its the strategic planning and significant improvements implemented over 2018.

Week in Lithuania. Prosecutors mull probe into Russia sanction violations

Lithuanian prosecutors announced this week they were mulling launching a pre-trial investigation in to the purchase by around ten companies of fertilizers from Russia's Minudobreniya, which allegedly violates the EU's sanctions against Russia.

Estonia raises minimum wage

The minimum monthly wage in Estonia has been approved at the level of 540 euros, which is an increase from 500 euros.

airBaltic to perform more flights between Riga and Liepaja

During a visit today in Liepaja CEO of Latvian airline airBaltic Martin Gauss announced that airBaltic will increase the number of domestic flights between Riga and Liepaja from three to five weekly as of summer season 2019.

EY: investments in crypto currency offers have largely failed

86% of 141 initial crypto currency offers presented last year have lost value over the course of the first eight months of this year. Additionally 30% of them have lost nearly all of their value, according to Initial Coin Offerings study by EY.

European Parliament ratifies EU-Japan Economic Partnership Agreement

On Wednesday, 12 December, gave green light for EU-Japan Economic Partnership Agreement, which is EU’s all-time largest mutual trade agreement.

Estonian hospital to make patients pay for uncancelled doctor appointments

In Estonia, Ida-Viru Central Hospital plans to introduce asking patients to pay for a scheduled specialist appointment, if the patient does to visit the doctor and has not notified the hospital in advance.

Week in Lithuania. President signs decrees on three ministers' dismissal

President Dalia Grybauskaite on Friday, December 7, signed decrees to accept the resignations of Jurgita Petrauskienė as education and science minister and Liana Ruokytė-Jonsson as culture minister and to dismiss Kęstutis Navickas from the post of environment minister.

Share of fast loans extended three and more times increases in Latvia

Lending volumes in the non-banking sector in Latvia continue growing in the first half-year of 2018 – the total loan portfolio of lenders’ had grown 7.11%, reaching EUR 655.82 million, by the end of June.

Estonian private clinic is facing criminal investigation

Estonian prosecutors have opened a criminal investigation against Medita Klinik, a leading competitor in public procurement tenders in Estonian health care. Estonian Northern District Prosecutor's Office has initiated the investigation in accordance with the Penal Code section concerning the transmission of false information, according to ETV investigative show Pealtnägija.

BATL: we expect a drop in turnover for ports and railway cargo freight

In the ten months of 2018, the total cargo turnover decline reached 2.1% at Ventspils port in comparison to the same period a year ago. This is the second lowest decline after the anti-record of 2016. In total, nearly 17 million tonnes of cargoes went through Ventspils port in this period of time, which is 31% of the total volume of cargoes.

Airbnb hosts in Estonia to declare their income automatically

Airbnb hosts in Estonia will have the chance to declare their income to tax inspectors automatically, if they choose to, according to a new agreement signed between the Estonian Tax and Customs Board and the American company.

Huawei Technologies' CEO Meng arrested in Canada

The chief financial officer of Chinese mobile giant Huawei Technologies has been arrested in Canada at the request of the United States, Canadian authorities announced.

Biggest foreign investments in Latvia go to trade and woodworking industries

Direct foreign investments in Latvia reached EUR 237 million in Q3 2018, which is 3.1% of GDP, exceeding the average investment level of last year.


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