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Sunday 26.05.2019 | Name days: Varis, Eduards, Edvards

Losses from shoplifting in Europe reach 29.3 billion euros

European traders have lost 29.3 billion euros (20.6 billion lats) this year due to shoplifting, which is 3 billion euro (2.1 billion lats) more than last year. The losses of the Baltics comprise 177 million euro (124.4 million lats), which is 29 million euro (20.4 million lats) less than in 2009, according to Centre for Retail Research data.

Nokia to fire 1 800 employees

Although the mobile communication giant Nokia experienced greater profit than forecast in the third quarter of the year, it plans cutting 1 800 jobs aiming to reduce costs.

Estonian Expert: public and private sector salaries should not differ

In Estonia, there should be no difference between the salaries received by the public and private sector employees, considers the Head of the company Tavid and the former Minister of Finance Meelis Atonen.

Fake medicine trade boom

Eastern Europe is one of the main fake medicine trade routs, where sales reach up to several billion dollars.

Europe asks for wage increase

The European Parliament (EP) has proposed introducing single minimal wage system. Currently the resolution is advisory in nature, yet the European Union executive power owns all the legislative instruments to make the idea «obligatory».

IMF: more austerity measures necessary

The International Monetary Fund (IMF) asks Eastern European governments to implement even tougher austerity measures to reduce the budget deficit, restore banking sectors and promote growth.

Point opens a branch in Estonia

Provider of electronic retail payment solutions Point Transaction Systems has opened a branch in the capital of Estonia Tallinn.

Moody's: Russian banks lending volumes may evoke new financial crisis

Russian banks keep increasing lending volumes to their largest clients, which is risky as it might evoke another financial crisis, concludes the rating agency Moody's.

Analyst: Estonian unemployment will not drop as companies work efficiently

The unemployment in Estonia will not decrease significantly because the companies have started to work more cost-effectively – the same work amount is now done by a smaller number of employees, considers the Estonian Statistics Department analyst Krusel Sim.

Producer prices in Estonia grow by 5%

In this year’s September, the producer prices in Estonia’s manufacturing industry, compared to the corresponding period last year, have grown by 4.8%.

Only Latvia submits all huge ES funds projects

Currently Latvia is the only one of the European Union (EU) member states to have submitted all planned 2007-2013 Cohesion Fund (CF) projects applications for the European Comission (EC) approval, according to the latest EC data.

Bank of America loses 7.3 billion US dollars

The US major bank Bank of America has reported an operating profit loss in the third quarter, although the revenues are only slightly smaller than the figures of the previous quarter.