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Tuesday 25.07.2017 | Name days: Jēkabs, Žaklīna
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Experts: potato harvest in Latvia may come later than usual this year

Potato harvest in Latvia may come one week later than usual. Still, the harvest is expected to be on the level of last year, BNN was told by Potato Growers and Processors Union.

NATO and Chinese ships perform joint manoeuvrer before entering Baltic Sea

This week, Standing NATO Maritime Group One welcomed in international a group of Chinese Navy ships that entered the Baltic Sea through the Strait of Denmark from the North Sea. Ships of both groups performed a mutually coordinated manoeuvrer for the ships to ensure safe entry of ships into the Baltic Sea, as reported by Latvian Defence Ministry.

Expert: oil prices will likely remain zigzag-like

Aside from one week, oil reserves have been continuously declining since April. This trend will likely continue. Oil refining activities were not too high. This reduced demand for oil. In Q3, oil producers will increase production output and compound stores, comments macroeconomics expert Dainis Gaspuitis.

Construction output in Q1 in Latvia – tenth largest in EU

In Latvia, construction production volume in Q1 2017, when compared with the same period of last year, grew 8.4%. This puts Latvia on the tenth place among EU member states, according to the latest data from Eurostat.

Contract signed for 60 million euros loan for Rīgas satiksme

Nordic Investment Bank and Riga municipality’s company Rīgas satiksme have signed a contract for the allocation of a loan worth 60 million euros. Funding is intended to be used to purchase hydrogen-powered buses and low-floor trams, as well as investments into tram infrastructure.

Household expenditure on consumption exceeds pre-crisis levels in Latvia

In 2016, household consumption expenditure comprised on average EUR 333 per household member monthly – EUR 17 or 5.4 % more than in 2015.

Swedbank: small companies contribute to appearance of new loans

Swedbank’s profits in Latvia reached EUR 52 million in the first six months of 2017. This is a similar result when compared with the same period of last year.

Demand for seasonal fruits increases in Latvia

Compared with the previous year, demand for seasonal fruits grew this summer: 31% for peaches, 35% for plums and 63% for apricots at Maxima Latvia supermarkets.

Investors could soon start a due diligence review in airBaltic

Multiple potential investors could start a due diligence review in Latvian national airline airBaltic, says Latvian Transport Minister Uldis Augulis.

Latvia signs minister declaration on 5G

On Tuesday, 18 July, a meeting of the informal council of EU Competitiveness and Telecommunications Ministers took place in Tallinn. During this meeting, members of the council signed a minister declaration on 5G. Latvia was represented by Transport Ministry’s parliamentary secretary Edgars Tavars, as BNN was informed by the ministry.

FM: if fuel consumption drops considerably, government will discuss excise tax changes

If fuel consumption drops considerably in the country, the government may reconsider the decision to increase excise tax, said Latvian Finance Minister Dana Reizniece-Ozola in an interview to LNT 900 seconds programme.

Residents value motivating bonus pay along with health insurance the most

When picking a new job, residents value motivating wages and health insurance the most, as concluded in a survey by CV-Online.

airBaltic carried record-large number of passengers in June

Latvian airline airBaltic carried 372,219 passengers in June 2017, which is 23% more than last year. It is now the airline’s latest record, BNN was informed by airBaltic.

Latvian minister invites improving media independence in EU neighbouring countries

Latvian Foreign Affairs Minister Edgars Rinkevics proposes allocating more resources to the work of the StratCom Task Force, as reported by Foreign Affairs Ministry.

Bank: consumer loans most often used on car purchase or home repairs

This year has seen an increase in demand for consumer loans – EUR 9.3 million was provided to clients in the first half-year of 2017, which is 15% more than last year, as reported by SEB Bank representatives.

Expert: increased PIT rate requirements are disadvantageous for recipients of royalties

Personal Income Tax rate of 23%, the requirements of which provide that recipients of royalties are able to recover 3% of overpaid tax, is disadvantageous, says Latvian Press Publishers Association CEO Guntars Licis.

New Laima manufacturing plant in Adazi; up to 20 million euros to be invested

In the next three years, EUR 20 million will be invested in the new Laima manufacturing plant in Adazi, as reported by representatives of Orkla Confectionery & Snacks Latvija.