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Friday 20.04.2018 | Name days: Mirta, Ziedīte

Detained Citadele official pleads guilty for asking bribe

Kristaps Putans, now former employee of the partly state-owned bank Citadele, has pleaded guilty for asking a 50 000 euro (LVL 35 000) bribe and accepting part of it, reveals his lawyer Janis Rozenbergs.

Heat to hit Latvia

The weather was still moderately warm earlier this week, however, starting from mid-week, warmer air will flow into Latvia with the south winds, so it will gradually become warmer.

Leading companies recover part of turnover

Businesses operating in metal industry have managed to recover some part of turnover and output they lost in the crisis of 2009, according to the industry representatives.

Ministries to fail in acquiring 30 million lats from EU funds

Latvian ministries are most likely to fail in acquiring 30 million lats they have asked for EU co-financed projects, according to the Finance Ministry.

Swedbank: oil price to drop in coming years

Oil price is already down and it will keep dropping also in the coming years amid better supply and smaller demand, according to Swedbank.

Economist: global economic growth to be slower-than-forecast

The Latvian and Baltic economies are continuing to expand; however the prevailing background has grown more negative. Recession is based on global structural problems that have not been fully resolved but only repaired by injecting cash in the economy, says Martins Kazaks, economist at Swedbank.

Economists: Latvian economic potential – higher than before crisis

In the first half of 2011, Latvia reported a rapid upturn. Most likely it was propelled by export, investments and domestic consumption. Given the surging in imports in the first-quarter, growth was slower in the first quarter than in the second one, indicates Lija Strašuna, chief economist at Swedbank.

Economist: thoughtless budget adoption endangers euro introduction

The current pre-elections atmosphere abounds in statements less should be consolidated in 2012, which is very thoughtless. Swedbank has slashed its growth outlook not only for Latvia but the whole world, says Martins Kazaks, Swedbank economist.

Fishing boat stranded near Kaltene; risk of diesel spill

Overnight to Tuesday, August 23, around 4.30 am, the Latvian fishing vessel Kate run aground in the Baltic Sea near Kaltene. The five-man crew was evacuated; however there is a risk of diesel leakage.

Ventspils Grain Terminal to carry out environment-friendly investment projects

In AS Ventspils Grain Terminal shareholders meeting, which took place in early April, it was decided to launch a new investment programme with environment-friendly projects.

Flourishing times for premium SMS companies

Companies providing premium rate telecommunication services are currently enjoying flourishing times. Traditionally they offer messages for a higher price than mobile operators, however, it is rarely their only way of making profit.

Only 15% approve of what Latvia has achieved in 20 years of independence

In August, 2011, Latvia celebrates 20 years of its de facto independence. However only 15% of all its economically active population aged 18-55 approve of what has been achieved during these years.

Dropping numbers of small households

The number of small scale farmers has plummeted 38% in the past five years, mostly, due to lack of current assets, appropriate equipment and workforce.