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Sunday 25.02.2018 | Name days: Alma, Annemarija
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BNN summary of the week: Loginovs stays at the Freeport and Riga Coach Terminal to leave

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUBNN offers a summary of this week’s topical news in a variety of categories: Change; Business; Fight; Decline; Truth and Growth.

Change: Relocation of Riga Coach Terminal to the ‘other side’ becomes more realistic

The relocation of Riga Coach Station to the ‘other side’ is becoming more and more realistic, as a proposal has been voiced to relocation Riga International Coach Terminal to Tornakalns. The planned construction of a transport hub in Tornakalns has already attracted funding of EUR 7 million from the European Cohesion Fund, as reported by Transport Ministry.

Mayor of Riga Nils Usakovs previously told Latvijas Radio that the coach terminal will likely be relocated, and that it would be necessary to combine it with suburban and public transport stops in Riga. One option would by building a transport hub beneath the new Central Station. Another includes relocating the terminal to Tornakalns, where it is also planned to build Rail Baltic Station.

Full article here: http://bnn-news.com/relocation-of-riga-coach-terminal-to-the-other-side-becomes-more-realistic-163778

Business: Government supports continuation of talks about purchase of shares in Conexus Baltic Grid

On Tuesday, 11 April, the Cabinet of Ministers supported continuation of talks with Conexus Baltic Grid shareholders about a possible procurement of shares in the company.

The state will evaluate its possible involvement in Conexus Baltic Grid to ensure energy security and form a regional gas market among Baltic States and Finland by 2020, BNN was told by Economy Ministry.

It will be possible to achieve the government’s goal by securing infrastructure development (Estonian-Finnish Balticconnectorun and Lithuanian-Polish GIPL connecting infrastructure), achieving high market efficiency and equality in competition, as well as securing price equalization with Central Europe.

Full article here: http://bnn-news.com/government-supports-continuation-of-talks-about-purchase-of-shares-in-conexus-baltic-grid-163780

Fight: Usakovs calls Latvia’s education minister a liar and fraudster

Baiba Brigmane, representative of Unity’s faction in Riga City Council, has requested to add the matter on Riga City Council’s behaviour in improving the quality of education in Riga’s general education facilities to the agenda of the next meeting of the city council’s Education, Culture and Sports Committee.

She also requests inviting to the meeting the management of schools in which result index of exams in the 2015/16 school year was below 30%.

In response to the claim that schools in Riga have low-quality education, Mayor of Riga Nils Usakovs posted a statement on this Facebook page, saying: «The Education Minister – is unprofessional and, possibly, a fraudster».

Full article here: http://bnn-news.com/usakovs-calls-latvia-s-education-minister-a-liar-and-fraudster-163913

Decline: Loginovs to continue working at Riga Freeport as advisor for Pecaks

Riga Freeport’s long-time CEO Leonids Loginovs will not stop working after retiring. He intends to continue working at the Freeport as the new CEO’s advisor, as reported by LTV.

Loginovs has been appointed as a freelance advisor to acting CEO Aigars Pecaks. Loginovs’ wage in the new post will be EUR 3,500 a month after taxes.

Full article here: http://bnn-news.com/loginovs-to-continue-working-at-riga-freeport-as-advisor-for-pecaks-163772

Truth: Estonian PM recognises gender pay gap as serious problem

It is necessary for Estonian society to address gender pay gap, said to be worst among EU nations, Estonian Prime Minister Jüri Ratas has evaluated.

«According to Eurostat data, our pay gap of 26.9 percent puts us at the very top in the European ranking; this situation has remained unchanged for several years now. Our message here should be clear and unambiguous — men and women must receive equal wages for the same job,» noted Ratas published on April 10, the European Equal Pay Day, as cited by the ERR.

Full article here: http://bnn-news.com/estonian-pm-recognises-gender-pay-gap-as-serious-problem-163696

Growth: World Bank asks Latvia to introduce labour force tax progressiveness

Latvia has to improve its tax system in order to offer its residents better services, say specialists of the World Bank in the report on Latvia’s tax system.

To reduce social inequality, the World Bank suggests introducing progressiveness for PIT in addition to social support for people with low income.

The World Bank notes – if Latvia wishes to realize residents’ hopes for better public services in healthcare, education and transport field, the country should consider the option to increase budget revenue by improving its tax system.

It is mentioned in the report that income tax and benefits are the most appropriate tools for the reduction of inequality. Progressiveness in PIT in addition to social support for people with low income could help reduce inequality in Latvia.

According to the World Bank’s estimates, introduction of three levels of PIT rates – 19%, 23% and 33% – and non-taxable minimum could help reduce inequality and raise budget revenue in Latvia.

Full article here: http://bnn-news.com/world-bank-asks-latvia-to-introduce-labour-force-tax-progressiveness-163881

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  1. alex says:

    Мошенник Писарчук Сергей кинул Гайкa Магакелянa почти на миллион долларов, развёл на покупку завода владельца компании «Афина Паллада».

    Thumb up 0 Thumb down 0

Week in Lithuania. Lithuania not affected by problems at Latvia's ABLV Bank

Financial problems faced by ABLV, one of Latvia's biggest commercial banks, will have no impact on the Lithuanian financial system, officials from the central Bank of Lithuania and the Lithuanian Banks' Association (LBA) said this week. According to Vytautas Valvonis, director of the central bank's Supervision Service, the Lithuanian financial system has become very independent in recent years.

BNN summary of the week: bank drama and complaints about government’s work

BNN offers a summary of this week’s topical news in a variety of categories: Announcement; Proposal; Threats; Concerns; Decline; Future.

Baltic States ask European Commission to maintain EU Cohesion Fund financially strong

Baltic finance minister ask the European Commission to keep the European Union’s Cohesion Policy financially strong and aim it towards results, BNN was told by Finance Ministry.

Police commence investigation on possible money laundering schemes at ABLV Bank

Latvia’s State Police has commenced an investigation about the possible money laundering operations at ABLV Bank, which were reported by Financial Crimes Enforcement Network (FinCEN) US Department of Treasury.

S&P Global affirms Latvia’s credit rating at «A-»

On Thursday, 22 February, S&P Global reaffirmed Latvia’s credit rating on the «A-» level, retaining a positive outlook for the future, as BNN was informed by the State Treasury.

Kristovskis: state officials should be equally strict to Lembergs and Rimšēvičs

«Lack of consistency – such a conclusion appears after looking at the behaviour of state officials in regards to their request for Ilmārs Rimšēvičs’ to step down as governor of the Bank of Latvia,» says Ventspils City Council member Ģirts Valdis Kristovskis.

LSRTC: Zaķusala TV Tower’s reconstruction will cost several dozen million euros

According to chairman of Latvia’s State Radio and Television Centre (LSRTC) Jānis Bokta, reconstruction of Zaķusala TV Tower will cost several dozen million euros.

Trade union worried teachers may not have time to prepare for new education content

Teachers may not have enough time to prepare to work with new education content, said manager of Latvian Education and Science Workers' Union Inga Vanaga in an interview to Rīta Panorāma programme of LTV.

Judins, Loskutovs, Čigāne and Dālderis to continue working in Unity’s faction

Saeima members Andrejs Judins, Aleksejs Loskutovs, Lolita Čigāne and Ints Dālderis will continue working in Unity’s faction and coalition.

Saeima supports member’s proposal to publish wages of Bank of Latvia employees

Latvia’s parliament has decided to support Ints Dālderis’ proposal to publish wages paid to employees of the Bank of Latvia, education institutions, as well as municipal capital associations.

More snow expected on weekends; air temperature to drop even more next week

On the night to Friday, 23 February, air temperature in most of Latvia declined to -21° C… -27° C. It was only warmer in Kurzeme and some parts of Vidzeme, as reported by Latvia’s State Environment, Geology and Meteorology Centre.

SEB Bank: more employment options will open up and workers will become more selective

«It is becoming easier to change jobs nowadays. The largest selection of employment options are found in regional centres and cities, especially Riga and Pieriga. We see fewer employment options in regions even though there is still considerable demand for workers there,» predicts SEB Bank’s macroeconomics expert Dainis Gašpuitis.

ABLV Bank’s manager claims the bank is ready for cancellation of payment restrictions

ABLV Bank is ready for cancellation of payment restrictions, said the bank’s chairman Ernests Bernis during a press-conference on Thursday, 22 February.

62.9% of Latvia’s population was employed in 2017

Compared to the year before, in 2017 employment rate grew by 1.3 percentage points and number of employed persons by 1.5 thousand. Employment rate among men grew faster than among women – by 1.6 percentage points and 1.0 percentage points, respectively. 894.8 thousand people or 62.9 % of Latvia population aged 15–74 were employed in 2017.

Lithuania and Latvia: the tale between two sisters marked with rivalry

Relations between Lithuania and Latvia, two tight-knit Baltic neighbours, may exemplify a sisterly relationship from the first sight, but just over the course of a single week, several pings rang, signalling that rivalry is, and has always been, a component of coexistence.

Lembergs unable to organize his private life because of intense court proceedings

Lembergs unable to organize his private life because of intense court proceedings

Unemployment level in Latvia decreased to 8.7% in 2017

85.4 thousand people aged 15–74 in Latvia were unemployed in 2017. Compared to 2016, the number of unemployed persons has dropped by 9.9 thousand or 10.4 %.

Council member: ECB is openly dissatisfied with restrictions imposed on Rimšēvičs

The European Central Bank (ECB) is openly dissatisfied with restrictions imposed on one of its council members – governor of the Bank of Latvia Ilmārs Rimšēvičs, said council member of the Bank of Latvia Edvards Kušners in an interview to 900 seconds programme of LNT.

Defence expenditures in Latvia planned at EUR 234 million in 2018

Latvian government plans to spend EUR 234 million on defence projects, including procurement of transports, ammunition, armaments and individual equipment, in 2018 as confirmed by Defence Ministry.

Ministry cancels mandatory procurement component permits for five CHP plants

Latvia’s Economy Ministry has made a decision to cancel the permit to sell electricity within mandatory procurement component for five other renewable energy co-generation plants plants: SIA Madonas Eko, SIA Eiro-Āzijas investment agency, SIA EVOKEM, SIA M Parks, and SIA Eco Latvis.

NSC proposes Maizītis for a second term as Chief of Constitution Protection Bureau

Members of Latvia’s National Security Council have decided to propose the current head of the Constitution Protection Bureau Jānis Maizītis for another term at the helm of this institution, as BNN was informed by the State President’s Chancellery.

Latvijas gāze’s subsidiary Gaso proposes reducing gas transmission price

Latvijas gāze’s subsidiary Gase has turned to Public Utilities Commission with a proposal for a new natural gas transmission system service’s tariff project, providing for a reducing gas transmission price by 18-46% for more than 95% gas consumers.

FCMC invites Bank of Latvia to provide ABLV Bank with yet another emergency loan

The Finance and Capital Market Commission (FCMC) has invited the Bank of Latvia to issue ABLV Bank another emergency loan.

Crime rate in 2017 was the lowest in Latvia’s history

Last year’s crime rate turned out the lowest in Latvia’s history, as reported by Prosecutor General Ēriks Kalnmeiers in his annual report.

LEC: government priorities should include searching for causes and solutions, not the guilty

Latvian Employers’ Confederation (LEC) is worried about ongoing events and their negative effect on the stability and future development of the country’s economy. LEC believes that stabilization of the financial situation requires careful coordination of actions between institutions and the government.