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Monday 20.05.2013 | Name days: Venta, Salvis, Selva

Shadow economy in Latvia: 21% of GDP

Even though the proportion of shadow economy in Latvia’s economy reached 21.1% in 212, this index is on a decrease for the second consecutive year. In 2011, it was 30.2%, and 38.1% in 2010.

Buyers’ most favourite products of 2012: Pina Colada, Alkšņu servelat and more

Following a survey of traders and an in depth investigation into market data, 31 products were declared the Product of the Year in Latvia. New leaders appeared in the Top list. Older products also retain their positions.

Latvia’s national ice hockey team ranks 11th in the World Ice Hockey Championship

On Tuesday, May 14, Latvia’s national hockey team concluded its participation in the World Championship with a score of 2:3 (1:1, 0:1, 1:0, 0:1), allowing Finland to remain in the championship.

Lithuania and Estonia make it to the Eurovision finals

Both Latvia’s neighbours – Lithuania and Estonia – have overcome the first semi-finals of the international song contest Eurovision.

Latvia, Estonia, lead EU new cars emissions charts

According to the study published by European Environment Agency, the new passenger cars purchased in Latvia and Estonia are the most pollutive in the 27-member union.

Lembergs’ nice and clean kingdom has poor living conditions

Even though the security measure imposed against Aivars Lembergs by the prosecutor’s office to perform the duties of Chairman of Ventspils City Council, the city is formally being managed by the For Latvia and Ventspils party. His kingdom may have clean streets and environment, but life is poor there.

Latvian Environment Minister does not back down; waits for coalition’s proposals

Development of amendments to the law in order to limit the authority of criminally prosecuted deputies is a good sign for potential public servants to think more about being honest, believes Environmental Protection and Regional Development Minister Edmunds Sprudzs.

Signature collection to have Lat as national currency is declined

On Tuesday, May 14, the Central Elections Commission (CEC) decided not to register the signature collection bill for amendments to Latvia’s Constitution to set Lat as Latvia’s national currency in Section 4 of the Constitution.

Some weight loss medications are advertised illegally in Latvia

Tievēšanas forte, Weight Loss, Green Coffee – these are some of the products that are considered food additives in advertisements. However, the Consumers Rights Protection Centre (CRPC) has uncovered that these products are not registered in the Food and Veterenary Service (FVS) Evaluation and Registration department as food additives.

Liepājas metalurgs could ruin the plan to reduce PIT

With luck further abandoning Liepājas metalurgs (LM), the state will most likely have to turn down its plans to start reducing the personal income tax (PIT) next year. This is said by experts of the International Monetary Fund (IMF).

Latvia’s unemployment level drops to 10.4%

Latvia’s registered unemployment level was 10.4% if the total economically active number of residents this April. Compared to March, unemployment is down 0.4%.

Builders: Unity and "Green Farmers" are not interested in the state of Latvia’s roads

Last year marked the conclusion of the initiative of Latvijas Ceļu būvētājs to show Saeima deputies the real situation with Latvia’s roads. “Not a single representative of Saeima factions the deputies of which buy expensive cars and for whom, clearly, the quality of roads is a secondary issue”, - the organizers conclude.

Lithuania requires company names to be in Lithuanian

As of May, founders of new companies and other legal entities in Lithuania will have to boost their creativity in order to come up with company names that fit the new company registration requirements.

Alcohol producers: privileges of light alcoholic beverages will increase consumption rates

Proposals are being offered in the Saeima that will increase the availability of light alcoholic beverages among young people and ruin competition in the market, creating unequal conditions for the trade of strong and light alcoholic beverages, according to the industry’s associations.

Residents complain the most about SEB and DNB

In Q1 of 2013, Latvian residents complained the most about the service of SEB and DNB banks. According to the Consumers Rights Protection Centre (CRPC), a total of five complaints each were received in regard to SEB and DNB banks. Citadele and Nordea banks both have four complaints each.

Political calendar of Latvia. May 13 - 17, 2013

Calendar of political events in Latvia. May 13 - 17, 2013...

Economic calendar of Latvia. May 13 - 17, 2013

Calendar of economic events in Latvia. May 13 - 17, 2013...

Riga Mayoral candidate: Baiba Broke – says one thing, but does the opposite

As though a gentleman, the Latvian National Alliance (All For Latvia!" – "For Fatherland and Freedom/LNNK) has given the first place in its list of Riga mayoral candidates to a lady – Baiba Broka.