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Wednesday 24.05.2017 | Name days: Marlēna, Ilvija, Ziedone

Economic influence on retail trade depends on migration

Looking at the influence of Latvia’s economy on retail trade industry in Q1 of 2016 and 2017 it becomes clear that future development of this industry depends on migration and inflation growth rates, as concluded in retail trade outlook Maxima Retail Trade Compass.

EC says it has irresistible «carrot» to attract countries to eurozone

EU’s European Commission intends to raise the attractiveness of adopting the euro in eyes of the bloc’s members now having their own national currencies, stated economics and finance commissioner Pierre Moscovici

Support to Rail Baltica further funding voiced by European Parliament Committee

Political support for continued funding of the railway project Rail Baltica has been acknowledged by a member of the European Parliament Committee on Transport and Tourism.

Study: engaging in business improves satisfaction with life

It has been concluded that psychological aspects are far more important than financial aspects in business operations – stability, family support, exchange of experience and realization of ideas are important for emerging businessmen, as concluded in a study performed by Altum.

Swiss voters decide to move away from nuclear energy

Switzerland has decided to quit nuclear power stations and opt for renewable energy, show the results of a referendum held on Sunday, May 21, where 58% voters backed phasing out nuclear power.

Latvian companies will be able to export halal products to United Arab Emirates

Latvian Agriculture Ministry has signed a memorandum with United Arab Emirates International Accreditation Centre to contribute to both countries’ cooperation in certification of halal products and accreditation of institutions, the ministry reports.

Lithuania set to clamp down on alcohol sales, booze buyers’ habits

The news from the World Health Organisation could not have come worse to all the opponents of the ruling Peasants and Greens Party’s sweeping plans to enforce a lot tougher alcohol consumption regulation in the country.

Number of passengers carried by airBaltic grows 26%

In April, Latvian airline airBaltic carried 287,560 passengers to destinations in Europe, Scandinavia, Russia, CIS and the Middle East. This is a 26% increase when compared with last year, as BNN was informed by the airline.

Expert taxpayers in Estonia suggest abandoning changes in taxation

NGO Estonian Taxpayers Association has released the assessment that the tax reforms carried out and planned by the current Estonian government are set to adversely affect Estonian economy.

13.6% less diesel fuel was imported to Latvia than last year

The volume of motor fuel imported to Latvia in the first three months has declined 11.1% in comparison with the same period of 2016. The volume of diesel fuel imported to Latvia was 13.6% below last year’s period.

Energy volumes produced by CHP plants continue increasing in Latvia

In 2016, the volume of electricity produced in combined heat and power plants kept increasing and accounted for 3,767.4 gigawatt hours (GWh), which constitutes 59 % of the total volume of electricity generated in Latvia.

Estonian resort city hopes to cover airport expenses with tourism tax

Pärnu, which has been branded the summer capital of Estonia, has suggested that it could cover the operating expenses of its airport, planned to be reconstructed by Estonian government for 20 million euros, by introducing a tourism tax.

Latvia had fourth most rapidly growing economy among EU member states in Q1

Compared with January-March period of last year, Latvia experienced the fourth highest GDP growth in among European member states this year, according to data published by Eurostat.

Industries experience clear deficit of workforce; foreigners hired to help out

Already certain industries in Latvia are experiencing major deficit of labour force. It could increase even more because of seasonality. Latvian Chamber of Commerce and Industry proposes approving the list of professions that can be applied with a simplified procedure for attraction of labour force from abroad.

Hydrogen refuelling station under construction; project’s costs planned at EUR 16.1 million

On Monday, 15 May, construction of a hydrogen refuelling station commenced in Riga, Vienibas gatve 6, as reported by Rīgas satiksme.