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Ceturtdiena 18.12.2014 | Name days: Klinta, Kristaps, Kristofers, Krists

Supreme Court of Latvia declares decision to penalize 22 banks for price fixing as justified

In accordance with the verdict ruled by Latvia’s Supreme Court of Justice, the decision made by the Competition Council in 2011 in regard to the application of a fine on 22 Latvian commercial banks is valid and is not subject to appeal.

Russians on edge amid ruble meltdown, Palanga vexed over Russians’ loss

A pre-Christmas Palanga, the Lithuanian resort on the Baltic coast, dazzling with the festively embellished alley of Christmas trees, is usually bustling with hordes of Russian tourists a week before the major holidays. But this December, the promenade has been spookily quiet, with few Russian couples sauntering along it. A free-fall of the ruble and the drought of hard currency has held up the panicky Russians at home. Not only Palanga, but entire Lithuania feels the drought of Russians ahead of a joyful holiday season.

With rouble in trouble, Estonians shop in Russia en mass

Residents of the Estonian border city of Narva are taking advantage of the devaluation of the Russian rouble that has suddenly made goods in Russian shops over 20 percent cheaper against the euro.

Ushakov: next year will be tough for Riga

Because of the crisis with Russian currency, the situation with Russian tourists in Riga has become worse, says Mayor of Riga Nil Ushakov, adding that the next year will be tough for Riga.

Hopes for investment inflow following euro adoption have not come true

January 1st, 2014 will mark one year since the replacement of lats with euro in Latvia. Looking back at this important event, one can conclude that hopes of euro causing a rapid increase of inflow of investments in Latvia and membership in Eurozone would make Latvia more attractive have not come to pass.

Latvian Saeima adopts state budget for 2015

This Wednesday, December 17th, the Saeima approved the next year’s budget in the last reading. The revenue of next year’s state consolidated budget is planned at EUR 7.3 billion and expenses – at EUR 7.5 billion.

EU state leaders gather for summit on sanctions against Russia and bloc's investment plan

Eiropas Savienības un tās dalībvalstu līderi pulcējas Briselē, lai 18. un 19.decembrī piedalītos galotņu sanāksmē, kuras darba kārtībā galvenie jautājumi būs jaunas sankcijas pret Krieviju un investīciju plāns bloka ekonomiskās izaugsmes atjaunošanai.

December 17 in pictures

Average Latvian residents drinks 10.2 litres of clear alcohol annually

An average Latvian resident above the age of 15 drinks 10.2 litres of clear alcohol a year. This volume is equal to 25.5 litres of vodka, 204 litres of beer and 85 litres of wine.

Thousands of protesters in Hungary demand government to step down

Several thousand Hungarians on Tuesday, December 16, took part in a protest in Budapest demanding the government to resign over tax hikes, alleged corruption and for directing the country towards Russia's sphere of interest.

Authorities say other catering companies have performed cash register data manipulations

Lately, Latvian law enforcement authorities have uncovered several cases of tax avoidance similar to the one employed by Gan Bei restaurant owners, when certain manipulations were carried out with cash register data.

Mourning in Pakistan after heartless attack on school

Mourning and burials have commenced in Pakistan after on Tuesday, December 16, Taliban fighters attacked a school killing 132 pupils and nine staff.

LRA: next year’s budget was put together in great haste

The state budget of 2015 was put together in great haste, and parties represented in the coalition have not had a good opportunity to review it properly, as believed by leaders of three parliamentary opposition parties.

Jurmala could lose New Wave, Comedy Club and KVN

It is possible that following a decision from ruling politicians in Moscow, Jurmala will lose cultural and entertainment events like KVN, New Wave and Comedy Club.

Experts: cleaning of the façade of the Castle of Light should cost ten times less

Latvian Professional Cleaning and Management Association is concerned about the recently surfaced information that the cleaning of the façade of the new building of Latvian National Library would cost EUR 80,000.

BTA: total damage caused by Billie storm may reach EUR 55,000

A total of 38 applications asking for private property and vehicle insurance claims have been submitted so far. The reason for such a large number of applications is Billie storm that has recently ‘visited’ Latvia, as reported by BTA.