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Monday 18.12.2017 | Name days: Klinta, Kristaps, Kristofers, Krists

Prime Minister: conceptual agreement with lenders is near

There are ongoing negotiations with the international lenders and we are quite close to a reaching a conceptual agreement. There still can be some corrections, but, I believe, an agreement will be reached on the main directions, Prime Minister of Latvia Valdis Dombrovskis says, adding that there is no information suggesting that the lenders do not approve of the consolidation measures proposed, as asserted by the social partners.

Estonian businessmen fight against shadow economy

Black market is not profitable, because businessmen lose money due to unfair competition. Realizing that, businessmen themselves take part in fighting the shadow economy, according to the experts Sven Kirsipuu and Sören Meius.

Economists: high fuel prices slow down retail turnover

First and foremost it was growing fuel prices resulting in dropping sales that slowed down the retail trade turnover, Latvian economists say.

If Latvia is not ready, European milk processors will «eat us alive»

If Latvian milk processors and the state in general do not get ready for the expected changes, European milk concerns will «eat»Latvian milk market alive, Latvian central union of dairy farmers Head Jānis Šolks told the business news portal BNN.

20 tons of mayonnaise spill over road after car accident in US

In the US state of Missouri, near Springfield, 20 tons of mayonnaise flooded the road after a heavy truck crashed.

Expert on Census 2011: passport data can be easily used to steal identity

Tests carried out so far suggest a certain security regarding the system used to gather Census 2011 data, it does not pose any huge risks. However, from the perspective of business, the fact that we have to present our passport data and personal identification number confuses me, because they are then available to everyone dealing with this information, Komerccentrs Dati group Board Chairman Aldis Gulbis told the business news portal BNN.

CSB: data security and confidentiality secured in Census

In preparing for Latvia’s population survey on the Internet, the Central Statistical Bureau (CSB) has set data security and confidentiality as a priority. All the necessary administrative, technical and organizational measures have been taken to prevent unauthorized access to information, its distortion or distribution, accidental or unauthorized deletion, informs the Head of CSB Aija Žīgure.

FCMC included in the single remuneration system

Starting from March 1, the Financial and Capital Market Commission (FCMC) has been included in the single state and local government institution officials and employees remuneration system. This is provided by the amendments in the State and Local Government Institution Officials and Employees Remuneration law.

75% of Latvians consider themselves economical

75% of Latvia’s population think they are frugal, yet only 44% of the respondents consider others as economical as well. At the same time, 41% of the population recognize they spend money on irrational and impractical purchases.

Russia needs 10 trillion rubles for energy modernization

Russia’s Energy Ministry is drafting a programme for energy sector modernization by 2030, requiring more than ten trillion rubles.

Retail trade turnover drops 1.7%

Retail trade turnover at constant prices fell by 1.7% in January this year, compared to December 2010. Non-food goods retail trade turnover fell 3%, mostly, at the expense of fuel price (12.5%). Food products retail trade turnover grew 1%.

Stock exchange performs market supervision over Parex Bank

NASDAQ OMX Riga Stock Exchange decided on Tuesday, March 1, to apply supervision status to AS Parex banka, according to official statement.

Kyrgyzstan starts criminal case against Latvian banker

The Kyrgyz Prosecutor General’s Office has instituted criminal proceedings against the well-known Latvian banker Valerijs Belokons, who is the largest shareholder of Kirgizstan’s commercial bank Manas Bank.

Census 2011 starts off

Latvia starts Census 2011 on March 1. This year's Census allows also online completion starting from March 1 up to March 10. Starting from March 17 census interviewers will visit those who had not completed the form on the Internet, the Central Statistical Bureau head Aija Žīgure says.

Prime Minister: situation to improve after 2012

2012 will be the last year of fiscal consolidation. Afterwards, there will be no necessity to raise taxes or reduce expenditure, because we will have reduced the budget deficit within the limits of Maastricht criterion and will have settled our state finances, the Prime Minister Valdis Dombrovskis indicates.

Retirement age keeps rising

Latvia has set the goal to gradually raise the pension age to 65 years. But it is not excluded that in future the retirement age in Latvia could climb even higher.

Enefit: why pay more?

The number of our clients in Latvia will double this year, SIA Enefit board chairman Aivars Tihane told the business news portal BNN, adding that the company could supply energy to Latvian households in two years time already.

Scandinavian Schibsted acquires Tvnet

The Latvian Internet portal Tvnet has been purchased by a Scandinavian media group Schibsted.

Expert: insulating Soviet time buildings could save 50% of heat costs

By insulating attics and changing or improving the window glazing in Soviet time buildings up to 50% of heating costs could be economized, the Latvian-decent energy-efficiency consultant Andrejs Ritums indicates.

Latvian Prime Minister's Office to raise salaries

Latvian Prime Minister Valdis Dombrovskis Office employees will be raised monthly salaries by 14 up to 313 lats, according to the State Chancellery Communications department head Ieva Aile.

Estonia eases restrictions for EU citizens and companies to purchase land

Starting from May 1, Estonia is doing away with yet another restriction for foreigners to purchase land. Foreigners will be allowed to buy land plot larger than ten hectares near the Estonian border without asking for permission from the county's governor.

Saudi Arabia raises oil production by 8.4%

The world’s largest oil producer Saudi Arabia has increased its oil production volumes by 700 000 barrels per day or 8.4%, totalling nine million barrels a day.

Study: Latvia among worst nations for integration

After comparing immigrants integration policies among 31 countries, it was concluded Latvia ranks the lowest in terms of integrating immigrants and their children, according to Migration Policy Group and British Council study.

AS Latfood exports spiked 16.6% last year

In 2010, the Latvian potato chips Ādažu čipsi and salty snacks producer AS Latfood's exports comprised 1304 tons, outdoing the performance of 2009 by 16.6%.

Fuel price in Europe hits 2008 level

Last week, both oil, fuel and diesel fuel prices hit their highest since the end of summer 2008 in European bourses, Statoil Latvija fuel category manager Kaspars Skrābāns told the business news portal BNN.