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Friday 20.04.2018 | Name days: Mirta, Ziedīte
LatviaLatvia

14 new ESA research and innovation projects approved for funding

The 3rd project approval process organized by European Space Agency concluded on 5 March. As a result, fourteen new projects worth EUR 1,413,520 were approved for funding. All approved projects will be financed 100% from Latvia’s contributions to the ESA budget, as confirmed by Education and Science Ministry.

LCCI: the next head of SRS should come from the private sector

It would be best to search for the next head of the State Revenue Service in the private sector, said chairman of Latvia’s Chamber of Commerce and Industry Jānis Endziņš in an interview to 900 seconds programme of LNT.

Maxima Latvija to invest EUR 1.3 million in self-service checkouts

Maxima Latvija plans to continue developing its self-service checkout services in 16 stores across Latvia, as BNN was informed by the company.

Prime minister: Baltics should realize important projects together with Poland

One of the projects in which Latvia sees good cooperation opportunities with Poland is Rail Baltica. During his meeting with his Polish counterpart Mateusz Morawiecki on Friday, 9 March, Latvia’s Prime Minister Māris Kučinskis mentioned that it is important to make sure Latvia, Lithuania and Estonia work together with Poland in this project.

Saeima to consider option to form a council to supervise FCMC

Saeima’s Budget and Finance Committee may consider the idea on forming a supervisory council to perform monitoring of the Finance and Capital Market Commission and develop proposals for the financial sector, as confirmed by deputy chairman of the committee Imants Parādnieks.

Rīgas namu pārvaldnieks’ profits declined 19.5% last year

According to provisional data, turnover of Rīgas namu pārvaldnieks was EUR 55.098 million in 2017, which is 6.6% less when compared to 2016. Company’s profits declined by 19.5% to EUR 407,023, as detailed in information published by the company.

Forecast: week’s beginning in Latvia – warm and rainy; week’s end – cold and dry

There is a high probability that maximum air temperature at the beginning of the week in Latvia may exceed +10° C. Nevertheless, there is an equally high probability that cold may return in the second half of the week, causing air temperature to decline to -10° C, as reported by State Environment, Geology and Meteorology Centre.

Shopping trends: the faster – the better

Experts of Latvia’s retail trade industry conference Retail Riga 2018 have compiled the most topical shopping trends in Latvia and around the world, as well as possible challenges that could potentially change shopping experience for residents and organization of work for traders.

Regulator predicts natural gas transmission tariff decline

Public Utilities Commission’s council has approved amendments for the natural gas transmission system’s service tariff calculation methodology. According to the regulator, changes will help raise efficiency of the transmission system’s operator – AS Conexus Baltic Grid.

Latvian railway company to receive new trains in 2020

SIA Pasažieru vilciens plans to receive two new electric trains at the end of 2020, as the company’s chairman Rodžers Jānis Grigulis confirmed in an interview to 900 seconds programme of LNT on Friday, 9 March.

SEB Bank: businessmen in Estonia and Lithuania are more ambitious; have plans to hire more people

16% of Latvian small and medium-sized companies have plans to increase the number of their employees. The number of such businesses has increased in Latvia in comparison to the previous year, when the proportion of such companies was 12%, according to results of a study by SEB Bank.

Latvia’s Saeima supports transition to education state language in second reading

On Thursday, 8 March, Latvia’s parliament supported in the second reading amendments to the law to ensure schools in Latvia gradually transition to education only in state language. It is planned for the transition to commence 1 September 2019 and end 1 September 2021.

Inflation is in decline, but experts see signs of growth in Latvia

«Annual inflation continued to decline in February, which is not a big surprise, considering that prices continued growing rather rapidly. While inflation was surprisingly low in January – around 2% –, it was only 1.8% in February. There are concerns this year’s inflation may exceed 3%,» says Luminor Bank’s expert Pēteris Strautiņš.

Air temperature in Latvia may rise to +10° C on weekends and beginning of next week

Weather in Latvia on Friday, 9 March, will remain influenced by a cyclone. Because of that, it will remain cloudy and some precipitation is expected, as reported by Latvian State Environment, Geology and Meteorology Centre.

LCCI asks Latvenergo’s profits to be diverted to reduce bills for residents

On Thursday, 8 March, Latvian Chamber of Commerce and Industry decided to request Latvenergo’s profits of EUR 78.9 million to be diverted towards reducing electricity bills for residents and differentiation differences caused for businessmen, BNN was told by the council.

Bank of Latvia governor prohibited from performing duties in ECB council

The governor of the Bank of Latvia Ilmārs Rimšēvičs is denied the right to perform duties associated with his post in the council of the European Central Bank, as confirmed by the Bank of Latvia.

Average consumer price level in Latvia up 1.8%

During the year, the average level of consumer prices rose by 1.8 % in Latvia. Prices of goods grew by 1.1 % and prices of services by 3.6 %.

Swedbank: Latvia is the greenest Baltic country, but inequality remains a risk

Latvia is currently experiencing rapid economic growth. Nevertheless, society is experiencing this growth at an unequal pace. Income inequality can negatively affect sustainable growth. Weak results in management (such as legislative power) put obstacles in the path of lasting economic development. This is why economic indexes should be observed from a long-term opinion, Swedbank representatives say.