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Saturday 25.03.2017 | Name days: Māra, Marita, Mārīte

BNN summary of the week: 5G in Latvia, fight against Lembergs, foreign trade balance deficit

BNN offers a summary of this week’s topical news in a variety of categories: Change; Business; Fight; Decline and Growth.

Sadales tīkls: energy industry enjoys stable growth in Baltics

Although the company does not experience the lack of quality labour force, when announcing vacancies it becomes clear that population density in regions continues to decline, and this makes it harder to find young specialists for work in regions, said Andis Pinkulis, CEO of Sadales tīkls, in an interview to BNN.

Rimsevics: tax changes may increase lending volumes in Latvia

Lending volumes in Latvia may increase because of changes to the country’s tax system, says governor of the Bank of Latvia Ilmars Rimsevics.

Latvia’s export and import volume was the lowest in January

Latvia’s export and import volume this January was below what was noted in Lithuania and Estonia. The largest foreign trade balance deficit among Baltic States was noted in Estonia.

InnoEnergy business opens an office in Latvia

International business accelerator company InnoEnergy has opened an office in Latvia. This objective of this company is preparing new and innovative technologies developers for attraction of investments as part of InnoEnergy accelerator.

Bank of Latvia increases inflation outlook for 2017 to 2.7%

The Bank of Latvia has increased its inflation outlook for 2017 from 1.6% to 2.7%, as reported by the bank’s press-service.

Ventspils Freeport Authority announces procurement

Procurement has been announced for the construction of an access road in Ventspils, Talsu Street 200 and landscaping of nearby territories so that one of the land tenants can commence construction of their building there, as reported by Ventspils Freeport.

Estonian investors consider construction of pulp factory in Latvia

Investors that consider building a pulp factory worth EUR 1 billion in Estonia’s southern region allow for the possibility of getting permission for the same project in Latvia, because this process can take a long time in Estonia.

Estonia to reduce availability of plastic bags in shops

Having passed amendments to the Estonian «Packaging Law», the Riigikogu has adopted a plan to reduce the use of plastic bags in the Baltic country over the coming years.

Canadian ambassador: Latvia and Canada are closer than ever before thanks to CETA

«All Latvian exporting companies – those that already export goods to Canada and those that consider doing that – will benefit from the Comprehensive Economic and Trade Agreement,» says Foreign Affairs Ministry’s parliamentary secretary Zanda Kalnina-Lukasevica.

Fiat Chrysler investigated over alleged breaking of emissions tests

French investigators have opened a probe into possible emissions tests breaking by the Italian-American car builder Fiat Chrysler Automobiles in relation to its diesel cars.

Rimi Baltic commences construction of a major logistics centre in Riga

Rimi Baltic has commenced construction of a retail trade industry project in Riga. This project will attract investments of EUR 75 million and make Latvia a Baltic logistical hub, as BNN was informed by the project’s representatives.

CC: largest amounts of Latvian milk are exported to Lithuania and Poland

After assessing the situation on the market after last year’s publicly voiced announcements regarding the possible price rise on dairy products, Latvia’s Competition Council has concluded – the price rise noted in the second half of 2016 was only temporary and is not expected to continue.

Modernising EU VAT – priority of Estonian EU Council presidency

Estonian Minister of Finance Sven Sester has stated that a priority of this year’s upcoming Estonian presidency at the Council of the European Union will be changing of the bloc’s value-added tax.

Cigane: Latvia is co-responsible for Eurozone’s economy; reforms are needed

«Latvia, as a Eurozone member state, is co-responsible for the economic situation in the European Union. We cannot afford to sleep on the laurels of rapid growth started in post-crisis years. Latvia has to be responsible in the realization of recommendations provided by the European Commission,» says chairperson of Saeima’s European Affairs Committee Lolita Cigane.

De Facto: assessment of control measures performed by SRS workers declines

Over the course of the past several years, scores given by residents to workers of the State Revenue Service in culture and professionalism control measures have declined, as concluded in SRS’ ordered study about the quality of service provided to taxpayers.