Economy

In late 2015 – early 2016, when the ABCA survey was conducted, Ukrainian small and medium businesses mostly assessed business climate in the country as neutral or negative. Only 6% of the polled SMEs believed that business climate was favorable.

It looks like cryptocurrencies are once again becoming a reliable payment method for citizens living in unfavourable conditions. Just recently, Venezuela joined the ranks of the likes of Greece, China, or Cyprus in opening the gates for cryptocurrencies.

Redistribution may be defined as the transfer of tax revenue to finance the state apparatus and maintain the government. One of the ways to calculate the size of redistribution of an economy is to calculate the ratio between tax revenue and the gross domestic product (GDP).

On September 14, 2016, the Lithuanian Parliament endorsed a new Labour Code which will bring about the most notable changes in terms of types of employment contracts, working time and overtime regulation, annual leave, employee dismissal procedures, and the size of severance pay.

The EC’s decision to start an in-depth investigation into Poland’s tax on the retail sector is undoubtedly right as this additional tax imposed on large stores is unjustified and harmful. It should be up to a consumer’s individual choice where to go shopping.

Some could argue that May is just taking time to avoid the implementation of the referendum’s result, which is quite unlikely, since after all “Brexit means Brexit”, and that she will not call for another referendum because UK citizens already expressed their will, and the government will respect it.

Italy is one of the first countries in Europe that has the major number of users and people aware of what is the so-called “sharing economy” (it is the third country after Turkey and Spain).

Ranked 20th in the 2016 World Bank’s Ease of Doing Business Index, Lithuania has outstripped its closest neighbours Latvia and Poland. Yet, possibilities of forging ahead as one of the most business-friendly economies are not fully exhausted.

49% of Lithuanian citizens see labor legislation as the means of achieving balance between employee-employer interests while 33% claim that it is an employee and 7% that it is an employer who should be defended by labor laws, LFMI’s survey shows.

The past two weeks were characterized predominantly by discussions over the hacking of Bitcoin exchange BitFinex. Other noteworthy news streamed mainly from Zimbabwe, the U.S., Isle of Man, China, and customarily from Russia.