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Sunday 26.03.2017 | Name days: Eiženija, Ženija

L’Oreal unveils hairbrush that «hears» breaking hair

French cosmetics firm L’Oreal has presented a smart hairbrush designed to assist users as they seek avoiding breaking hairs, while combing.

Agreement taking place in Baltic commercial transport industry

Monday, 2 January, marked the conclusion of reorganization intended to secure cross-border agreement of three Baltic commercial transport repairs, maintenance and spare parts trade companies.

Digital money bitcoin jumps exceeding USD 1,000

The value of digital currency bitcoin has this week exceeded USD 1,000, which is its highest point in three years.

Production rise influenced by product demand in export markets

Compared to November 2015, industrial production output increased by 11 % in November 2016, according to calendar adjusted data at constant prices.

Balsts: real estate market requires foreign investments

«All indexes show that real estate market development has to continue in 2017. But if favourable conditions are not created for businesses, development of small businesses and attraction of foreign investments, expected growth may turn into stagnation,» – says Balsts chairman Aigars Zarins.

Volvo outperformed as Sweden’s most popular car first time since 1962

The best-selling car in 2016 has not been a Volvo. The classic Swedish brand been outperformed by a foreign brand for the first time in 54 years.

Estonia to consider switching to four-year budget cycle

Estonian Finance Ministry has started the year by suggesting considerable change. On Monday, January 2, it proposed to the government changing the cycle of state finance planning from a one-year to a four-year budget.

Opinion: risks for Latvian-Chinese cooperation based on difference in available resources

«There is no reason to doubt the claim that Chinese businessmen are interested the most in fast, cheap and safe container transports to Europe in Latvia,» – Kapitāls magazine writes, adding that risks for this cooperation lie in the difference between resources available to the two countries.

airBaltic receives second CS300 aircraft

Latvian airline airBaltic has received the second of its 20 Bombardier CS300 jets on firm order. The modernized fleet will ensure growth of the carrier with at least 10 additional routes and 16% more tickets on sale in 2017.

Vitol realizes environmentally friendly alternative energy source project in Ghana

IFC and MIGA, members of the World Bank Group, have allocated USD 517 million to support Ghana’s Sankofa Gas Project. This integrated offshore oil and natural gas project that will provide a source of reliable, affordable energy in this West African country.

Tallink shipping company cuts share capital

One of Estonia’s largest companies Tallink Grupp has announced on Wednesday, December 28, that it has ended the procedure of reducing its capital.

Estonian competition watchdog: Electricity network fees should be lowered

The Competition Authority of Estonia released on Tuesday, December 27, a conclusion that the cost of electricity distribution services of electric grid operator Elektrilevi is not adjusted to their current costs and should be lowered by 6.7%.

Latvia’s banking sector earned more than EUR 440 million this year

In the first eleven months of 2016, the country’s banking sector functioned with profits of EUR 440.1 million. All sixteen Latvian and three out of seven foreign banks functioned with profits in this period of time; their total market in banking assets reaching 97.5%.

Construction costs influenced by wage decline for asphalt pavers

Compared to October, the level of construction costs in Latvia dropped by 0.1 % in November 2016. Labour remuneration of workers reduced by 0.8 %, maintenance and operational costs of machinery and equipment dropped by 0.1 %, whereas the prices of building materials went up by 0.2 %.

Eurobalt Junipro requests insolvency of Baltic Aviation Systems

On 4 January 2017, Riga City Northern District Court will view the insolvency case of Baltic Aviation Systems. Eurobalt Junipro turned to court with a case against the company, as confirmed by the court.

Estonia working on attracting foreign ships to register under its flag

Estonian Maritime Administration continues its work on a push to attract shipping firms to register their ships in Estonia by offering e-registration and a reduced tax burden.

Latvian Shipping Company reaches an agreement on loan refinancing

Latvian Shipping Company has achieved an agreement in regards to loan contract conditions with a three-bank syndicate – HSH Nordbank, DVB Bank SE, SEB (Stockholm) – for the refinancing of the USD 360 million loan.