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Monday 24.07.2017 | Name days: Krista, Kristiāna, Kristiāns, Kristīne

Eesti Energia: Klaipeda gas terminal already works a regional facility

Although Estonia does not recognize Lithuania’s LNG terminal in Klaipeda as a regional facility and wants to build its own terminal, Eesti Energia manager Hando Sutter admits that Klaipeda terminal already functions as a regional one.

Expert: Latvia’s export contribution is closely tied to the situation in the EU

It is important to note that a major export value increase was noted in February – by 10.1%. This was largely thanks to growth in exports of transport and other services. With that, service export surplus grew to EUR 175.7 million, fully compensating foreign trade deficit, Finance Ministry comments on data from the Central Statistical Bureau of Latvia.

Government approves Latvia’s Stability programme for 2017-2020

The government has approved Latvia’s Stability programme for 2017-2020, which provides for increasing Latvia’s GDP to 3.2% in 2017 and 3.4% in 2018 at unchanged policy. For 2019 and 2020, on the other hand, it is planned for GDP growth rates to come close to the potential growth level, as predicted by Finance Ministry.

Government supports continuation of talks about purchase of shares in Conexus Baltic Grid

On Tuesday, 11 April, the Cabinet of Ministers supported continuation of talks with Conexus Baltic Grid shareholders about a possible procurement of shares in the company.

Raising VAT for accommodation sector would cost national economy nearly 47 million euros

Latvia’s national economy would lose nearly 47 million euros from increased VAT on accommodation sector, as reported by Economy Ministry.

Latvia’s foreign trade turnover formed 1.82 billion euros in February

In February 2017, Latvian foreign trade turnover amounted to EUR 1.82 billion, which was 6.1 % higher than in February 2016, and the exports and imports values of goods were 5.7 % and 6.5 % higher, respectively.

Expert: it is hard to be an honest taxpayer in Latvia

There are multiple flaws in Latvia’s tax system. Low tax collection is caused by high grey economy proportion, not low tax rates. The tax burden for honest taxpayers in Latvia is rather high. This especially applies to labour tax, economist Uldis Rutkaste says about Latvia’s tax reform.

Twitter wins row with U.S. government over request to unveil user identity

A U.S. federal institution has quit its request to the micro-blogging site Twitter to unveil the identity of users, who have criticised the policy of U.S. President Donald Trump.

Samsung Electronic Baltics picks Lithuanian agency as partner in Baltic States

Digital marketing agency Ad Fingers has become the new partner of Samsung Electronic Baltics in all three Baltic States.

Changes added to the management board of LDz Cargo

Aleksandrs Kazackovs was appointed as a member of the board of LDz Cargo on Monday, 10 April. He was previously the director of LDz Cargo Legal and Administrative Affairs Department.

Lithuania wishes to become a Baltic and Nordic leader in financial technologies

Lithuania, which has all the conditions for the development of innovative financial services, wishes to become a leader in the field of financial technologies in Baltic and Nordic region, as announced by Lithuanian Finance Minister Vilius Šapoka.

KNAB commences criminal process for trade of influence; Truksnis is involved

Corruption Prevention and Combating Bureau has commenced a criminal process for trade of influence. Among those involved in the criminal process is Gatis Truksnis, the former mayor of Jurmala, as well as businessmen and officials serving under him, as reported by De Facto programme.

Consumer rights: Travel bargain sites publish misleading offers

Scores of travel websites offering low-cost flights, hotels and other travel bookings, are not publishing precise information, giving customers accurate information, the Consumer Protection Cooperation network of European consumer protection authorities has found.

Lithuania experiences the most rapid housing price rise among Baltic States

Among European Union member states, Latvia had experienced the fourth most rapid housing price rise in Q4 2016 compared with the same period of 2015, according to information published by Eurostat.

Bank analysts predict Latvia’s inflation at 2.9-3.3% for March

Consumer prices in Latvia may have grown by 2.9-3.3% in March when compared with the same month of last year, bank analysts predict.

Ecolines invests four millions in bus fleet renewal

Continuing investments in the renewal of its bus fleet, Ecolines has bought ten new buses using funding from Swedbank. The company has bought five Setra S431DT and five Man R08, as BNN was informed by the company.