Aivar Rehe: it sounds very illogicalLocal News
- Estonian banks used to launder vast sumsLocal NewsBanks in Estonia were used to move nearly $1.6 billion of criminal funds from Russia, international journalism project OCCRP, investigating organized crime and corruption, uncovered with help from Postimees and Russian paper Novaya Gazeta. The operation in question was named “Laundromat” or “Washing Machine”.
- Future government plans wide-ranging tax reformEconomyThe new government plans to introduce an €315 million investment program, privatize, either in part or in full, four state-owned companies, lay down a banking tax, abolish income tax incentives on loan interests etc. Grand redistribution of taxes is also in the pipeline that will see minimum income exempt from tax raised from the current 170 euros a month to 500 euros from 2018.
- Chief of Danske: pension investors need not worryEconomyLast year, Danske Bank begun the switch to corporate banking in Baltics and successfully so says its head in Estonia, Ivar Pae. As related to sale of Danske Bank pension funds to LHV the clients need not worry: the fund will be managed well even during times of transition i.e. as long as the transition is completed, he says.
- Krediidipank gets two councilsEconomyKrediidipank general meeting of shareholders, yesterday, resulted in a bank with two governing councils. With Bank of Moscow votes, the bank was elected a new council – not recognised by other shareholders, however. Thereby, in the eyes of majority holder Bank of Moscow, the bank has one council; in the opinion of former council members – another.