Lithuanian shadow economy is estimated to amount to 18.8% of GDP in 2010, while in Estonia it amounted to 19.4% of GDP, and in Latvia it stood at 38.1% of GDP, Stockholm School of Economics in Riga (SSE Riga) announced. In y/y terms shadow economy declined in Estonia only. In 2009 in Lithuania shadow economy amounted to 17.7% of GDP, in Estonia it amounted to 20.2% of GDP, and in Latvia shadow economy stood at 36.6% of GDP. The research has been carried out by SSE Riga professors Talis Putnins and Arnis Sauka. According to the research only Estonia slightly improved on the shadow economy. Yet, in Lithuania the companies dedicate 9.3% of their revenues for bribes, in Latvia the percentage is 10.8%, and in Estonia it is 5.6% in 2010. |
Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more
Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more
Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more