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Saturday 17.03.2018 | Name days: Ģertrūde, Gerda, Gertrūde

Unemployment hits 13.9% in April

April unemployment rate in April was down 0.5 percentage points, totalling 13.9%, according to the State Employment Agency.

Bank of Latvia: Parex Bank does not meet criteria to be freed from mandatory reserves

Currently, Parex Bank does not meet a single criteria to be freed from making mandatory reserves, the Central Bank announced after reviewing Parex Bank's request to relieve it from making mandatory reserves to use these funds for the syndicated loan repayment.

Vegetable prices keep gaining

Food price surge halted in April 2011, except for vegetable prices still reporting price gains, according to Agricultural Market Promotion Center head Ingūna Gulbe.

Experts: diesel fuel price rise to damage economy and quality of life

Tax rise on diesel fuel with no clear future vision will not be an effective move, nor will it help boost mobility. Moreover, tax rise in general will have a negative impact on the economy and damage people's life quality, experts of the sector say.

State Social Insurance Agency urges criminal proceedings on alleged fraud in Latvian Shipping Company

As a 10% shareholder at the state-owned public joint stock entity Latvian Shipping Company, the State Social Insurance Agency has filed an application to the State Police Economic Crime Combat Administration, the State Revenue Service and the Prosecutor General’s Office, calling for an assessment of possible fraud and tax evasion.

Fox News mistakes Obama with Osama bin Laden

In haste, Fox News journalists misspelled Osama bin Laden's name, instead reporting that Obama bin Laden is dead.

Swedbank head: bad loans are no longer problem

At this point, we can claim the economic crisis has ended for sure, thus it has also rounded up in banking sector. Certain banks will most probably still face losses in 2011, while the sector in general is more likely to generate profit, says Māris Mančinskis, Swedbank head, adding that the bank forecasts Latvian economy will grow 4% this year.

Oil prices down 1% after news on bin Laden’s death

Along with the news on Al-Qaeda leader Osama bin Laden's death, the oil price dropped by one percent on May 2.

Zatlers appraises US and international community for fighting terrorism

Upon learning Al-Qaeda leader Osama Bin Laden has been killed, the President of Latvia Valdis Zatlers appraised US and the international community's achievements in fighting terrorism.

Osama Bin Laden killed by US forces

US forces in Pakistan have killed Al-Qaeda leader Osama Bin Laden, USA President Barack Obama has announced, adding that they have the body of the leader in US «most wanted» list.

Ex-Presidents: secret presidential candidates should reveal themselves

Each party should clearly state their opinion about the presidential candidates and openly formulate their attitude towards the current President Valdis Zatlers, consider the former Presidents of Latvia Guntis Ulmanis and Vaira Vīķe-Freiberga.

Benefit freezing to cause headache for Finance Ministry

If decision to freeze benefits is taken it would generate additional expenditure, fostering the need for further consolidation. This in turn will cause headaches for the Finance Ministry, told the Finance Minister Andris Vilks.

Finance Minister: euro not to hamper Latvia’s stability

The euro introduction is the only way out of crisis and it will conclude the previous work, the Finance Minister Andris Vilks indicates, adding that the euro cannot interfere with Latvia’s stability in any way.

Pig-breeding in Latvia is doomed

Pig-breeding in Latvia can no longer be saved, the Federation of Food Companies board chairman Didzis Šmits told Latvijas Radio.

Businessman: Latvian economic policy - destructing

The government's economic policy is nothing but destructive and destroying the country. Thanks to it, professionals are forced to look for jobs in Great Britain and Ireland, not Latvia, swimming pools and accessories company SIA Latgales baseini head Uldis Lielpēteris told the business news portal BNN.

Apple profit exceeds Microsoft first time in 20 years

Microsoft 2011 Q1 financial performance by far exceeds analysts' estimates, as the net profit spiked 31%, hitting 5.23 billion dollars, while revenue grew 13%, totalling 16.4 billion dollars.

Stockholm owns one of top desired real estate markets

Stockholm’s real estate market has become one of the most attractive in Europe, indicates a study by PwC and Urban Land Institute.

Latvia reports largest unemployment drop in EU

Latvia posted the largest unemployment rate fall in the European Union, compared to 2009 and 2010 indicators, when the unemployment fell from 20.1% to 17.3%, according to Eurostat data.

Experts: retail growth is not convincing

Despite retail trade shows slight growth, the confidence among the consumers still varies, as price gains do not allow people to spend as much as before, economists say.

Working on weekends complies with international rigths

If workers are employed on Saturdays and Sundays, as well as on holidays, they are ensured the protection stipulated by the European Union – the right to recreation at another time, indicates Elīna Egle, Director General of the Latvian Employers' Confederation.

Royal wedding costs around 34 million dollars

The total costs of Prince William and Catherine Middleton’s wedding could amount to 34 million US dollars, while their predecessors Prince Charles and Diana's wedding cost 110 million US dollars.

Annual retail trade turnover climbs 1.3%

Compared to February, total retail trade turnover, according to seasonally adjusted data at constant prices, in March 2011 climbed 0.6%, according to the of Central Statistical Bureau.

Construction costs drop 0.6%

Compared to February 2011, construction costs in Latvia dropped 0.6% on average in March this year. Costs of machinery and equipment maintenance grew 1.8%, while construction materials prices – 0.1%. Labour remuneration fell 5.2%.

Estonian Prime Minister: Estonia has become attractive for investments

By introducing the euro, Estonia has become attractive for foreign investments. Also, majority of the society supports the euro. One of the main benefits for Estonians is that there is no currency risk anymore, emphasized the Estonian Prime Minister Andrus Ansip during the official visit to Latvia.

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