Government increased unemployment insurance fee

The government approved increasing unemployment insurance fee 4.2 pct from August 1 to December 31 so that the Unemployment Fund could cover their higher expenditures due to the economic downturn and new layoff rules, reports.

Therefore employees have to pay 2.8 pct of their salary and employer adds 1.4 pct. According to the forecast the unemployment benefits will amount to EEK 1,867 bln, which is shared between 57,475 people.

The Unemployment Fund’s expenditures will be more than EEK 3 bln this year, according to the Ministry of Finance’s spring forecast. If employee would pay 2 pct and employer 1, then the fund would collect EEK 1.5 bln as payments. That would mean that the Unemployment Fund would have to take EEK 1.5 bln from their reserves.

Source: BBN

BLRT may buy Loksa Shipyard

Balti Laevaremonditehase Grupp (BLRT) may buy Loksa Shipyard, which has been on sale since last autumn, reports.

“I talked to our lawyers and appeared that we have signed confidentiality agreement on the matter of Loksa. That’s why we can’t comment the issue,” Anu Hallik, BLRT’s communication director said.

Loksa Shipyard has been on sale since the beginning of last September. Fjodor Berman, the owner of BLRT told on autumn that he considers all the possibilities to buy the company.

He said that that he’s aware that Loksa Shipyard is on sale, he’s familiar with the matter and interested in the factory.

“In the strategic plan BLRT didn’t have the intention to buy this factory, but we discuss it and review all options to buy Loksa Laevaremonditehas,” Berman said.

The owner of Loksa Shipyard is Danish company Odense Steel Shipyard LTD.

Finn Buus Nielsen, the CEO of the Loksa Shipyard said that the sale of the factory gives them a chance to focus all attention to ship construction in Lindö (Denmark – edit) and developing their subsidiary Baltija in Lithuania.

Odense Steel Shipyard LTD, which is member of A.P. Moller/Maersk Group, has hired Danske Market to sell Loksa Shipyard.

Source: BBN