Posts tagged as labor

Minister of Foreign Trade and IT: Estonian labor law needs refreshing

Thursday, February 11, 2021

Minister of Foreign Trade and IT Andres Sutt (Reform) told ETV’s political discussion show “Esimene stuudio” that Estonian labor laws need to be looked over and refreshed. Sutt reached this conclusion after a discussion about Swedbank taking its Baltic subsidiary management to Riga, Latvia. Riga’s advantages over Tallinn and Vilnius are related tostaff recruitment and tax systems , a Swedbank Estonia spokesperson told ERR on February 1. Sutt noted that…

Lithuanian company fined for illegal employment of Ukrainians

Thursday, December 31, 2020

The Lithuanian State Labor Inspectorate has imposed a EUR 17,360 fine on a construction company in Vilnius for the illegal employment of Ukrainian citizens, according to a report posted on the website of the Lithuanian national public broadcaster LRT. According to the inspectorate, 20 Ukrainians were allegedly employed by Polish companies and sent on business trips to Lithuania for construction work. The Lithuanian State Labor Inspectorate, in cooperation with the Lithuanian…

Estonian startups increase revenue, pay record amount of labor taxes in Q3

Friday, November 6, 2020

The revenue of Estonian startups totaled €562 million in the third quarter of 2020, growing by 41 percent year-on-year, while employment tax payment increased by 30 percent, reaching €73 million. According to the Estonian Startup Database, there are 1,110 startups operating in Estonia and 66 new startups have been created in 2020. The number of startups that have been active for at least five years is 257, making up 23…

Demand for labor in Latvia will remain high in 2020

Friday, January 24, 2020

Demand for labor will remain high this year, but slowing economic growth and increasing problems with labor availability will make employers more cautious about creation of new jobs, according to an annual survey of entrepreneurs by CV-Online Latvia. 33 percent of employers are planning to hire new workers this year, which is 15 percent less than a year ago. In turn, the number of companies that will both hire and…

Labor shortages named as Baltic businesses’ main problem

Friday, October 26, 2018

Labor shortages and wage grown are seen as the main problem of businesses in the Baltic states, Ints Krasts, a member of the SEB Banka management board, said in an interview to LETA, citing the bank’s annual survey of chief financial officers (CFO) from all three Baltic states. “The survey shows that the companies are ready to invest and take risks. Latvian companies have gene the most optimistic assessment of…

Fitch revises Lithuania’s rating outlook from stable to positive

Monday, August 13, 2018

Fitch Ratings has revised the outlook on Lithuania’s long-term foreign-currency credit rating from stable to positive, informs LETA/BNS referring to the Finance Ministry of Lithuania. The outlook was changed after a positive review of the country’s fiscal policy. Lithuania’s long-term credit rating is now “A-“, and the short-term credit rating is “F1”, and they remain unchanged. Fitch Ratings upgraded the outlook following a positive review of Lithuania’s growth, fiscal policy…