bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 11.12.2017 | Name days: Valdis, Voldemārs, Valdemārs
LatviaLatvia

BNN summary of the week: problems with state financial accounts Baltics to promote healthy eating

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

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: Business; Future; Decline; Truth and Growth.

Business: Latvia plans to borrow at least EUR 350 million from international markets this year

This year, Latvia will have to borrow at least EUR 350 million from international markets. This amount may also grow more, admits head of Latvia’s State Treasury Kaspars Abolins.

«The base scenario provides that we will have to attract EUR 1 billion from capital markets this year. Two-thirds of this amount has already been attracted, but EUR 350 million will have to be attracted before the end of the year. At the same time, I would like to say that this is the base scenario, because there are many variables that can still affect it. First of all, we can see that demand for State Treasury’s loans continues to increase – primarily from the side of municipalities,» says Abolins.

He says it will be necessary to attract additional resources to cover loans if demand continues to increase. «Secondly, we have always been active in the use of favourable market situations. If interest rates remain low, it may be possible for us to perform pre-financing of next year’s needs.»

Demand for loans increases in municipalities because the use of EU funds has become more active. Abolins mentions that March was a record month in this regard – ST and municipalities signed a total of 63 loan contracts worth nearly EUR 50 million.

Low interest rates remain on financial markets at the moment. In February, Latvia released ten and thirty-year euro bonds on international markets for a total amount of EUR 650 million.

Full article here

Decline: Meroni: Lembergs has caused losses for Latvia worth more than EUR 500 million

«Aivars Lembergs has caused loses worth more than EUR 500 million to Latvia’s entrepreneurship and especially Latvia in the past ten years,» Swiss lawyers Rudolph Meroni told TVNet in an interview.

In relation to allegations that he has used finances that have been placed under his supervision for the duration of the criminal process against Aivars Lembergs, Meroni called those allegations completely absurd and purposely reported by Lembergs and the media he controls.

Meroni denies the possibility that the price of Ventspils Nafta shares was artificially reduced. He told TVNet that the EUR 1.77 per share price was fair and acceptable for the buyer – Vitol Group – and the seller – Latvijas naftas tranzīts. However, shortly before the deal, the price jumped to nearly EUR 3. This happened because people associated with Lembergs learned of the deal and performed what’s called ‘inside trading’, Meroni says.

«This is illegal, a crime, in fact. Perhaps someone hacked computer systems. As far as I know, a criminal investigation has commenced about this whole situation.»

Full article here

Truth: SA points to flaws in state institutions’ accounting and use of funding

Concluding its audits for last year, Latvia’s State Audit views the quality of financial accounts as generally stable. The compliance of budget use for certain goals, on the other hand, is lagging – several million euros have been spent on inappropriately planned objectives.

BNN was informed by SA that the general consensus on state institutions’ accounts is that the 2016 situation on accounting matters was not different from the trends noted in previous years  – state institutions, for the most part, can properly manage their resources. Problems do pop up here and there – unlike 2015, when audits provided positive results for the first time in a long period, there have been four reports with negative sides.

SA mentions two problematic cases – Education and Science Ministry and VARAM failed to resolve problems that were previously noted by auditors. «Although problems can be resolved, the process of realizing recommendations is too slow. Defence Ministry has been given a piece of criticism for the inability of institutions under its authority to secure accounting that would provide clarity about its income and expenses. In addition, the internal control environment of the Corruption Prevention and Combating Bureau is not ordered in a way that would allow a check of the institution’s finances,» SA continues.

Full article here

Growth: Baltic health ministries to cooperate in promoting healthy eating and lessen alcohol consumption

The leadership of Latvian, Lithuanian and Estonian health ministries decided to cooperate in drafting healthy eating and alcohol and tobacco consumption policies with the aim of reducing mortality from noncommunicable diseases in the region.

ERR reports that Estonian Minister of Health and Labour Jevgeni Ossinovski commented after meeting with State Secretary of the Latvian Ministry of Health Kārlis Ketners and Lithuanian Minister of Health Aurelijus Veryga on Tuesday, May 17: «We are far away from Nordic countries, whose social policy and practice to prevent illness are an example for all three Baltic countries. An important area of concern in our region is health-related inequality, or the strong connection of health indicators with gender, education and economic well-being».

Full article here

Future: Chinese tourism platform Alitrip to promote Latvia’s tourism and business opportunities

To ensure recognition on the Chinese market, as well as help develop multi-sided cooperation in tourism, Latvian Investments and Development Agency and Chinese e-commerce company Alibaba Group’s tourism platform Alitrip have signed an agreement for cooperation.

The agreement signed on 16 May provides for publishing information about Latvia’s tourism and business opportunities on Alitrip platform to ensure better recognition, as well as variety of services for Chinese clients. For Latvian tourism operators, this platform will be a great opportunity for cooperation with China.

Full article here

Ref: 224.109.109.5192


Leave a reply

Mayor of Riga: New Hanza business quarter to improve city’s development

During his visit to New Hanza business and residence quarter, Chairman of Riga City Council Nils Ušakovs said that every project of this kind improves the quality of life in the city, create new space for apartments and offices, jobs and public-access buildings, as well as pull up the quality of life in surrounding territories.

«European Oscars» dominated by satire drama «The Square»

The awards of the European Film Academy have been given to laureates at a ceremony in Berlin on December 9, where the joint production of Sweden, Germany, France and Denmark «The Square» dominated with six awards.

7.3% less cigarettes exported from Latvia in nine months of 2017

In the first nine months of 2017, roughly 1.9 billion cigarettes were exported from Latvia to other countries, which is 7.3% less when compared with the same period of 2016, according to State Revenue Service’s data compiled on excise goods circulation.

Weather in Latvia to be windy; air temperature to reach +9° C

On Monday, 11 December, air temperature in Latvia will be at -3° C… +2° C. It is expected to be somewhat warmer along the coast, however. Some precipitation will be present, as reported by State Environment, Geology and Meteorology Centre.

Ukrainian police detains Georgian ex-President Saakashvili

Police in Ukraine has over the weekend detained the ex-President of Georgia Mikheil Saakashvili on the same week, when a crowd of his supporters released him from a police vehicle.

Week in Lithuania. Vilnius mayor apologises for poor performance of road services

Vilnius Mayor Remigijus Šimašius has admitted that the road services of the Lithuanian capital city were not efficient enough in their response to the weather conditions, apologising to Vilnius residents for the inconveniences they encountered due to traffic interruptions.

BNN summary of the week: kebab industry’s fears, insiders in anti-corruption bureau, and Latvia’s crumbling roads

BNN offers a summary of this week’s topical news in a variety of categories: Fight; Fear; Opinion; Confusion; Truth.

Farmers Saeima: if Latvia does not ease rules for guest workers, there won’t be any workers

During a meeting of the Food Industry Council, the biggest discussions were raised about the matter regarding the lack of labour force in agriculture and food processing companies. On top of that, farmers are confused over Economy Ministry’s proposed solution, saying that it is too far from reality.

Ex-deputy chief of anti-corruption bureau: I have no doubt the prime minister and president dance to Lembergs’ tune

«For ten year now Aivars Lembergs has been under the ban to perform duties as chairman of Ventspils City Council. And for the same period of time Lembergs and state officials have been ignoring this ban. Environment Protection and Regional Development Minister Kaspars Gerhards, who is responsible for supervising municipalities and is very well-informed of the truce power centre, which, unfortunately, is not Latvian citizens as it is stated in the country’s Constitution, goes to visit Lembergs, not Ventspils. He does that to demonstrate his fealty to the ruler as he would if we lived in the Middle Ages,» says politician from New Conservative Party, councillor of Riga city Council and former deputy chief of Corruption Prevention and Combating Bureau Juta Strīķe.

Average consumer price level up 2.7% in Latvia

During 2017, the average level of consumer prices rose by 2.7 % when compared with last year. Prices of goods grew by 2.7 % and prices of services by 2.9 %.

Updated: MEPs move against allowing phosphates in kebab meat said to endanger massive industry

As the European Parliament plans to vote on vetoing European Commission's proposal to allow phosphates, used to keep seasoned kebab meat moist and aromatic, the industry considers it a threat event to the existence of meat in the popular fast food.

Prime Minister: new step is made to stimulate Latvian-Japanese cooperation

A new step has been made towards stimulating cooperation between Latvia and Japan in political and economic field. Latvia is not large enough for our businesses to focus solely on the domestic market. Our country has a rapidly-growing economy with a free market ready to make major steps towards transnational cooperation, said Prime Minister of Latvia Māris Kučinskis during his visit in Tokyo.

Theatre critic: there is historic importance in people’s trust of television

«Pop-culture’s influence over society should be viewed from two different perspectives. First of all, it is important to consider how society affects popular culture – what we see or hear at least partially reflects the modern society. Secondly, if created products turn out very influential, they inspire people and shift their thought processes or behaviour one way or another. This is because new and exciting products that have never existed until now, products that are considered marginal,» said theatre critic and Assistant Professor of Social Sciences Faculty of the University of Latvia Zane Radzobe.

MEP: Soviet Union’s activities in occupied countries are not discussed openly

Even to this day Soviet Union’s activities in occupied countries are not discussed openly and loudly, said member of the European Parliament Inese Vaidere at the presentation of the English translation of the book ‘Damage Caused to the Baltics by the Soviet Union’ in Brussels.

Expert: data importance will only increase in the digital transformation era

«Technologies are the driving force behind the development of all sectors in the 21st century. They affect our everyday lives and Latvia’s future development. We cannot afford to stop now. We have to continue developing innovations and creativity on all levels,» said Latvian President Raimonds Vējonis during the annual conference organized by Information and Communication Technologies Association.

Estonia in OSCE urges Russia to meet international standards in Ukraine

Estonian Minister of Foreign Affairs, Sven Mikser, draw attention to support of Ukrainian territorial integrity and the protection of human rights, as he addressed fellow foreign ministers at the meeting of the Organization for Security and Cooperation in Europe in Vienna this week.

Emotional debates break out in Saeima in regards to automatic access to state secrets

During the last meeting, very emotional debates in regards to automatic issue of access to official secrets were held. Proposals were voiced both in support of this and against. The proposal was declined in the end.

UK: EU citizens inside country «will be able to go on living as before»

In the talks on the UK leaving the European Union, London and Brussels have managed to agree on such key issues as the future of EU citizens within the UK and the border between Ireland and Northern Ireland, which will allow diplomats to move on to talks on the future relations between the bloc and the country after their divorce.

Polish head of government Szydlo resigns

The Prime Minister of Poland, Beata Szydlo, has stepped down, hours after surviving a no-confidence vote pushed for in the Sejm by the opposition.

Weather becomes colder and colder in Latvia

In the next seven days weather in Latvia will be volatile; cyclone activity will remain. On Friday, 8 December, air temperature will remain relatively high – in most of Latvia it will be around +1° C… +5° C, as reported by the State Environment, Geology and Meteorology Centre.

Lithuania’s real estate market hints of troubles ahead

Although the new flat sales, including luxury sector, in Lithuanian capital Vilnius continue to hover at the peak of recent years, real estate market outside the capital and Kaunas, the second-largest Lithuanian city, is cooling off, which may be an omen as to what expect soon.

Vaškevičs asked Latvian authorities to investigate death threats against him

Bribery accused former deputy director of the State Revenue Service Vladimirs Vaškevičs, who has fled to Austria, says he had asked Latvia’s Prosecutor General’s Office to investigate an anonymous internet death threat.

People of Palestine urged for upraising after U.S. recognition of Jerusalem as Israel's capital

Palestine's Islamist group Hamas called on its population to quit peace efforts and launch a new uprising against Israel reacting to Washington's recognition of Jerusalem as Israeli capital.

Survey: residents have weak knowledge on teaching in national minority schools

Residents have very imprecise information about the teaching process in national minority schools, as concluded in results of a survey performed by SKDS.

Latvia demonstrates one of the most rapid economic growth rates in EU

In the third quarter of 2017, Latvia had experienced one of the most rapid GDP growth rates among European Union member states, according to information from Eurostat.