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Saturday 17.03.2018 | Name days: Ģertrūde, Gerda, Gertrūde

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.

Baltics want faster US decisions on the region’s air defence

Ahead of the meeting of three Baltic presidents with US President Donald Trump on April 3, Lithuania, Latvia and Estonia have called on the key ally to make «faster decisions» on the region’s air defence.

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.

NCP leader: I view prosecutor general’s weakness as threat to Latvia’s state security

Leader of the New Conservative Party and prime minister candidate Jānis Bordāns views the weakness of prosecutor general Ēriks Kalnmeiers as a threat to Latvia’s state security.

Unity invites Finance Ministry to fix adopted tax reform’s flaws

Members of Unity’s Saeima faction believe adoption of the tax reform was performed poorly and that new problems emerged from introducing it, creating misunderstandings for businessmen and residents.

Swedbank and ABLV Bank enjoyed largest profits last year

Last year, the largest profits among banks in Latvia were recorded for Swedbank and ABLV Bank. Seven banks worked with losses in Latvia last year, according to data compiled by Association of Latvian Commercial Banks.

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