CEE’s ICT sector is closing the gap on Western Europe

Emerging Europe | Oct 18, 2019

The ICT sector in CEE is catching up with Western Europe, as salaries and employment rates are closing the gap.

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Entrepreneurs rank Tallinn as emerging Europe’s leading start-up hub

Emerging Europe | Oct 16, 2019

Entrepreneurs across Europe now rank Tallinn as one of the continent’s leading start-hub hubs.

In its latest report looking the development of start-up ecosystems and founder mobility in Europe, Startup Heatmap Europe reveals that the Estonian capital now ranks ninth amongst start-up founders in Europe who were asked the question: “Where would you set up your company if you could start again tomorrow?”

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E-Estonia council: Self-driving vehicles waiting for new law

BC, Tallinn | Oct 16, 2019

The e-Estonia council was given an overview at a sitting on Monday of the current state and future perspectives of self-driving vehicles, the conclusion reached at the discussion was that although there is already a working legal framework for testing self-driving vehicles on Estonian public roads, it is necessary to wait for the algorithmic-liability law to apply it in our broader legal landscape.

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MGM Agrees to Sell Bellagio to Blackstone for $4.25 Billion

Bloomberg | Oct 15, 2019

MGM Resorts International, pressured by investors to unload its remaining company-owned casinos, agreed to sell the Bellagio resort in Las Vegas to Blackstone Group for $4.25 billion and will continue to operate the property under a lease arrangement.

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Huawei Lashes Out at Estonia for 'Unfounded' Security Claims

U.S. News | Oct 15, 2019

CHINESE telecom company Huawei has criticized the Estonian government and media for spreading what it says are "arbitrary and unfounded" allegations about cybersecurity risks related to the company's mobile phones.

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Migration raises brain drain concerns for many CEE countries as regional economy slows

Emerging Europe | Oct 14, 2019

Economic growth across Europe and Central Asia is slowing, with regional growth estimated at 1.8 per cent for 2019, according to the latest World Bank Economic Update for Europe and Central Asia. This estimate, the lowest in four years, reflects slowing growth in both the Russian Federation and Turkey, the region’s two largest economies.

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Saeima approves amendments removing obstacles to development of single regional natural gas market

LETA | Oct 17, 2019

Saeima today approved in the final reading amendments to the Energy Law, which provide for removing obstacles to the development of a single regional gas market with Estonia and Finland and stipulate that the single market's entry-exit tariff system will commence on January 1, 2020.

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Latvian security service develops terrorism financing prevention strategy

BNN | Oct 16, 2019

The Latvian State Security Service (VDD) has prepared its Strategy for the Prevention of Terrorism Financing 2019-2021 with its goal being improvements of the system of preventing such financing, developing Latvia’s abilities to fight such illegal attempts and to improve the country’s reputation in foreign financial markets.

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Latvian businesses warned about U.S. sanctions against Turkey

LSM.LV | Oct 15, 2019

Latvia's Ministry of Foreign Affairs on October 15 warned Latvian exporters to be aware of the ramifications of sanctions announced by the United States against fellow NATO member state, Turkey.

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5G "Hackathon" coming to Latvia in November

LSM.LV | Oct 14, 2019

On November 27-29, Rīga will play host to 5G policymakers, heads of major industry organisations, and business leaders from Europe, the USA, and Asia for what is described as "one of the leading 5G events worldwide" to discuss the deployment of the first commercially-viable 5G business models.

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Skulte LNG terminal will be healthy competition for Klaipeda terminal - Latvijas Gaze

BC, Riga | Oct 14, 2019

The planned Skulte liquefied natural gas (LNG) terminal will create a healthy competition for Klaipeda LNG terminal.

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Baltic boost for Synot via Latvian operator 11.lv

Casino Beats | Oct 11, 2019

Latvia facing casino and sportsbook operator 11.lv is striving to enhance its igaming offering, after unveiling a new content-based partnership with Synot Games.

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South Korean giant reportedly interested in Latvian gas project

LSM.LV | Oct 9, 2019

A potential strategic partner for the liquefied natural gas (LNG) terminal project at the Port of Skulte has been identified as South Korea-based Korea Gas Corporation ("KOGAS"), one of the world's leading importers of liquefied gas.

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Lithuania: Kamida Group Will Invest 12 mln EUR Into Logistics Center

BC, Vilnius | Oct 17, 2019

Kamida Group, a transportation, logistics and agricultural equipment rental service provider, is starting to develop a 15,800 square meter logistics center with a four-story administration complex close to the western bypass in Kaunas. The project, called WESTHUB, will cost 12 mln EUR.

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Businesses in Lithuania are becoming more transparent – Transparency International

TBT | Oct 16, 2019

Businesses in Lithuania are becoming more transparent, the latest survey by the anti-corruption organization Transparency International Lithuania shows.

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Lithuanian aviation holding acquires British aircraft charter company

DELFI EN | Oct 15, 2019

Avia Solutions Group, a global multipurpose aviation holding company, has completed the acquisition of 100 per cent of the shareholding in UK-headquartered Chapman Freeborn Group.

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Klaipeda FEZ Honored by FDI Intelligence for Investor Expansions

BC, Vilnius | Oct 15, 2019

Klaipeda FEZ earned 4 bespoke awards in the annual Free Zones of the Year ranking, released by fDi Intelligence, a foreign direct investment publication, belonging to the Financial Times Group. In the 2019 rankings, the Klaipeda FEZ was mentioned for its expansions, local transport improvements, workforce amenities and the FlexStart manufacturing building.

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Winners of the 7 th Baltic Pitching Forum announced

TBT | Oct 15, 2019

The 7 th edition of “Baltic Pitching Forum”, which took place on 10–12 th of October in Vilnius, has come to an end. This year the Forum expanded its horizons by inviting Finland as a Guest Country. Three Finnish short film projects participated at the Forum alongside Lithuanian, Latvian and Estonian filmmakers and presented their newest short film ideas in front of the International Panel and Lithuanian Producers’ Jury.

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Current account balance in surplus

Bank of Lithuania | Oct 14, 2019

Today, the Bank of Lithuania published the balance of payments for August 2019, which shows that the build-up of a €196.7 million surplus on the current account balance was led by the increase in the positive balance of services, the surplus (yet declining) on the secondary income balance and the significant decrease in the foreign trade deficit.

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Member Briefings

• Shock and Awe! California Employers Face Onslaught of New Regulations. Littler | By Bruce Sarchet and Corinn Jackson on October 14, 2019

• AB 5 Update: Joint Employment, Retroactivity, and Implementation Challenges. Littler | By Jim Paretti, Bruce Sarchet, Michael Lotito and Patrick Stokes on October 11, 2019

• New York Utilities Release RFPs for Large Energy Storage Systems. Hodgson Russ LLP | October 8, 2019

• HARASSMENT OR NOT? WFW | October 11, 2019

• On September 6, 2019, the Internal Revenue Service (IRS) announced a new procedure which allows certain non-compliant US citizens who relinquished their US citizenship to become US tax compliant. Patrick Hoza from USTAXFS. Read here

• IRS Campaigns Tackle Compliance Issues. By Andrew Aldridge from USTAXFS.