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Tuesday 19.06.2018 | Name days: Nils, Viktors

Medicine wholesale traders’ realization volumes declined in February

Medicine wholesale traders in Latvia realized 2.8% products less in February 2018 than they did in February 2017 and 7.1% less than they did in January. 3.87 million medicine packages worth EUR 31.16 million were sold in February. 3.49 million medicine packages worth EUR 27.35 million were sold to pharmacies, according to data from State Agency of Medicines.

Latvia's Competition Council predicts increase of competition in retail trade

Competition Council expects concentration to continue in non-specialized retail trade sector. This may increase mutual competition among companies working in this sector. At the same time, CC mentions that this particular sector lacks any particularly strong players, which only serves to increase competition pressure on the two largest existing non-specialized retailers.

Citadele: loan and tax debts are the most common obstacles for provision of funding

45% of businessmen should consider improving their credit rating. This is because provision of new funding for them is currently either limited or impossible, according to data compiled by Citadele Bank on creditworthiness of small and medium-sized companies.

Tallinn transport company worker in custody suspected of receiving EUR 2 million in bribes

In Tallinn, on suspicion of having taken bribes totalling two million euros, an assistant manager at the captal's transport Tallinna Linnatranspordi has been detained, according to Estonian media. The suspect is reported to be employed as an assistant manager at the company's bus repair workshops and to have been driving a Lamborghini sports car.

Campaign against phone use at wheel held in Estonia

In Estonia, the police an the Road Administration are holding a No Phone Day campaign for a third time encouraging people not to use their headsets at all while driving and then in the evening tonight to reflect about whether or not they have missed anything serious.

LTV disagrees with national media council over use of Sputnik photos

LTV does not agree with the opinion detailed in an official letter from National Electronic Mass Media Council regarding the use of photos from Sputnik news agency by media portal and how this would be in breach of Electronic Mass Media Law.

Russia's push for joint spy poisoning investigation with UK – rejected

Moscow's proposal for a joint Russian-British investigation into the Salisbury poisoning attack has not received the necessary support at the Organisation for the Prohibition of Chemical Weapons after more than 150 diplomats have been expelled on both sides.

Citadele Index: businessmen are looking towards the future with optimism

Generally businessmen look towards the future with optimism, as stated in the latest Citadele Index study. It is expected that Latvia’s economy will continue growing in 2018. Citadele Bank’s experts believe the current economic situation is stable and represents a good time for investments.

European sugar makers forced compete after EU quotas lifted

With the market-crippling sugar production quotas lifted, sugar producers in the European Union have found themselves fighting for survival as now they have to compete on the world market with higher production output and lower prices.

Employees: three to five years is the most one should stick with one job

According to employees, the longest period of time a person should stick with one job is three to five years, as concluded in a survey performed by CV-Online Latvia using database.

Estonian tax collector to repay 90 million euros to tax payers

Reflecting Estonian activity in the submission of their tax returns, the Estonian Tax and Customs Board has received tax reutrns from total of over 640 thousand people.

Economists: processing industry doing well, while food industry needs more ambitions

Latvia’s industrial sector was one of the most rapidly growing sectors in the country in the last six months. Current trends suggest that Latvia’s processing industry may experience good growth in 2018, says Citadele Bank’s economist Mārtiņš Āboliņš.

Thousands of flights in Europe affected by system fault

The system fault that caused delays to up to half of all flights in Europe has been repaired, according to Eurocontrol, an organisation responsible for co-ordinating European air traffic.

Companies to calculate state-invested capital return goals from now on

Latvia’s Cabinet of Ministers has decided to support Cross-Sectoral Coordination Centre’s proposal to establish an appropriate state-invested capital return mechanism for every state enterprise, as well as include research and development projects in their medium-term strategies.

Prime minister: Russia’s planned missile tests above Baltic Sea present no threats

The plans of Russian navy forces to perform missile tests above Latvia’s exclusive economic zone in the Baltic Sea present no threats to security. Latvia and its NATO allies will observe this military exercise said Latvia’s Prime Minister Māris Kučinskis.

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