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Saturday 24.06.2017 | Name days: Jānis

Lithuania set to limit cash payments to 3,000 euros

The Farmers and Peasants-led Lithuanian Cabinet has approved a draft bill envisioning restrictions on use of cash, limiting the kind of settlements up to 3,000 euro.

Producer price level in industry up 0.4% in Latvia

Compared to April, the level of producer prices in Latvian industry grew by 0.4 % in May 2017. The prices of products sold on the domestic market increased by 0.3 %, whereas the prices of exported products grew by 0.5 %. The prices of products exported to euro area countries grew by 0.8 % and of products exported to non-euro area countries – by 0.4 %.

Most universities in Estonia to cut number of new students this year

Three of the four universities working in Estonia have expressed plans to bring down the number of admissions in the coming academic year.

Latvian government asked to compensate profits lost from rejecting Nord Stream 2

Considering the stance of the Latvian Republic in relation to Nord Stream 2 project, in which the Cabinet of Ministers decided not to permit the participation of Ventspils Freeport, Noord Natie Ventspils Terminal and Baltic Express have decided to ask the government to compensate lost profits. An official request has been submitted to the prime ministers.

Latvian board game declared the best children’s board game of the year

On 19 June in Hamburg, Germany, winners of the world’s most prestigious board game award Spiel des Jahres in child board game category Kinderspiel des Jahres were announced. Latvian board game Ice Cool, published by Brain Games, was declared as the best board game for children of 2017.

Amendments to street trading approved to combat grey economy in Latvia

To reduce grey economy in agricultural and food products trading, the Cabinet of Ministers on Monday, 19 June, approved Economy Ministry’s amendments to Cab. Req. for the organization of trade at markets and street vending.

Expert: potential of business service centres remains unexplored in Latvia

The role of international business service centres keeps increasing in the global economy. In Latvia, however, their potential remains largely unexplored, says New Hanza City project’s developer Pillar representative Guntars Cauna.

Latvia had fourth highest inflation among EU member states in May

Compared with the same month of last year, Latvia had the fourth highest inflation index among EU member states in this year’s May, according to data from Eurostat.

Latvia experienced moderately rapid export growth among EU member states

When compared with the same period of last year, Latvia experienced a moderate export rise among European Union member states in the first four months of 2017, according to data published by Eurostat.

Nordea Bank supports development of new Latvian cosmetics

One of the leading cosmetics producers in Latvia – Kinetics Nail Systems – has received a significant amount of funding from Nordea Bank. EUR 400,000 will be used to refinance standing commitments and provide turnover funds, BNN was told by the bank.

Estonia’s economic growth forecast up 0.9% to 3.5% this year

Estonian central bank has considerably – by 0.9% - increased the country’s economic growth forecast to 3.5% this year.

Foreign Affairs Committee supports ratification of Rail Baltica agreement

The legislative draft, which is intended to ratify the agreement for the formation of Rail Baltica railway connection in Estonia, Latvia and Lithuania, was supported unanimously by Saeima’s Foreign Affairs Committee on Wednesday, 14 June.

Estonia’s energy security increased by 16m-euro hub substation

Estonian electric grid operator Elering has connected to its network the Viru hub substation built in the country’s north-east for 16.3 million euros.

Oil prices continue rising around to globe

Oil prices around the world continue growing in the world even though investors remain sceptical about the ability of OPEC member states and their partners to reduce overproduction on the global market.

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