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Ceturtdiena 23.03.2017 | Name days: Mirdza, Žanete, Žanna

Bank of Latvia increases inflation outlook for 2017 to 2.7%

The Bank of Latvia has increased its inflation outlook for 2017 from 1.6% to 2.7%, as reported by the bank’s press-service.

Estonian investors consider construction of pulp factory in Latvia

Investors that consider building a pulp factory worth EUR 1 billion in Estonia’s southern region allow for the possibility of getting permission for the same project in Latvia, because this process can take a long time in Estonia.

Reirs: ministry’s offered tax reform will change nothing for most pensioners

Finance Ministry’s offered tax reform will add only slight changes. Most pensioners will not feel any changes from this reform – neither good, nor bad, said Welfare Minister Janis Reirs in an interview to Rīta panorama.

Krievins decides to leave his post as head of State Chancellery

Starting from Tuesday, 21 March, Martins Krievins will no longer be the director of the State Chancellery, as confirmed by Prime Minister Maris Kucinskis’ press-secretary Andrejs Vaivars.

Eurostat: Latvia had the third highest annual inflation in EU in February

In February, Latvia had the third highest inflation index among European Union member states when compared with the same month of 2016, according to data published by Eurostat.

SP: Russia will continue using myths about fascism in Latvia on Legionnaires Day

It is can be predicted that Russia will likely use Remembrance Day of the Latvian Legionnaires to propagate the myth about the resurrection of fascism in Latvia to try and discredit Latvia on the international stage, said Security Police Chief Normunds Mezviets in an interview to 900 seconds programme of LNT.

Newspaper: Vilnius’ market currently sustained by Latvian and Estonian small traders

As Lithuanians’ purchasing power declines, emigration remains and many residents decide to go on shopping tours in Poland, the famous Gariunai market is largely sustained by Latvian and Estonian small traders, Verslo žinios writes.

Virši-A: Lithuania will benefit the most from excise tax changes among Baltics

Finance Ministry’s proposal to raise excise tax will create several major risks, notes Virši-A board member Janis Prieditis.

Eurostat: Latvia has the third highest share of renewable energy in the EU

Latvia has the third highest share of renewable energy in the European Union, according to the latest data compiled by Eurostat for 2015.

UK House of Lords approves Brexit bill

On Monday, 13 March, UK House of Lords approved the bill for providing authority to Prime Minister Theresa Mary May for the official commencement of talks for United Kingdom’s exit from the European Union. A couple of hours prior to that, the bill had been approved by the House of Representatives.

Oil prices suffer decline on the world market

On Monday, 13 March, oil prices on the world market suffered a decline, which is largely associated with investors’ concerns over whether or not crude supply from USA can impact effort of the Organization of the Petroleum Exporting Countries to limit oil production and reduce excessive energy supplies.

Turnover of Latvian Air Traffic Controllers declined 1.8% last year

Latvian Air Traffic Controllers worked with turnover of EUR 24.527 million in 2016, which is 1.8% less when compared with 2015. The company’s profits declined 26.9% and were EUR 344,336, according to the company’s unaudited financial account.

Latvia to invest two million euros in modernization of country’s air quality network

Approximately EUR 2 million to be invested in order to perform modernization of Latvia’s atmospheric air quality network by 2018, as noted by Latvian Environmental, Geology and Meteorology Centre’s representative Sanita Peleke.

Lithuania bases its forest management reform on experience of many countries, except Latvia

Lithuanian government has supported the ambiguously viewed forest management reform. As part of this reform, instead of the current 42 forest management companies, the country would form a single state forest management company Lithuanian State Forests. The final decision in this matter will be made by the Lithuanian Seimas.

ERDB ceases participation in capital of problematic asset manager Reverta

On Tuesday, 7 March, European Reconstruction and Development Bank ceased participation in capital of problematic asset manager Reverta, as mentioned in the company’s report submitted to Nasdaq Riga.

MTG intends to conclude talks on selling its business in Baltics soon

Swedish media concern Modern Times Group may soon conclude talks regarding the sale of its business in Baltic States. According to information from BNS, one of the realistic buyers is Bite Group owner – American private capital investment fund Providence Equity Partners.