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Sunday 28.05.2017 | Name days: Vilhelms, Vilis

airBaltic to commence Riga-Liepaja flights in May

On 16 May, Latvia’s national airBaltic airline will commence inland flights from Riga to Liepaja, BNN was told by the airline’s representative Janis Vanags.

De Facto: relocation of oligarchs will cost EUR 30 million more

Coal transshipment at Riga Freeport, which is a business that is closely associated with oligarchs, is planned to be relocated to new docks on Krievu Island by the end of the year. EUR 133 million have been invested in this project already. Now the freeport’s authority has to invest EUR 30 million more, as reported by De Facto.

Iceland to lift 2008 money flow controls, as tourism surges

The government of Iceland has decided to end from Tuesday, March 14, the capital controls on its population, companies and pension funds.

Turnover of Latvian Air Traffic Controllers declined 1.8% last year

Latvian Air Traffic Controllers worked with turnover of EUR 24.527 million in 2016, which is 1.8% less when compared with 2015. The company’s profits declined 26.9% and were EUR 344,336, according to the company’s unaudited financial account.

TM: demand for container transports within Eurasian supply networks increases

«Demand for container cargo transports within Eurasian supply networks continues to increase. A major increase was noted in 2016 for container cargoes in existing transport routes,» notes Latvian Transport Ministry's state secretary Kaspars Ozolins.

Expert: there is no doubt that wages and pensions should grow

Annual inflation rate about 3% will not remain for long. It is expected to decline closer to the end of the year, making general inflation rate around 2.5%. It is also expected that employment in the country will rise. Employers will have to put more efforts into finding employers and increase wages, Swedbank economist Linda Vildava shares her prediction for the near future.

Study: Taking yellow taxi is safer than blue one

When choosing a yellow taxi over a blue one, we can lower the possibility of suffering in a traffic accident, a research in Singapore has found.

Lithuania bases its forest management reform on experience of many countries, except Latvia

Lithuanian government has supported the ambiguously viewed forest management reform. As part of this reform, instead of the current 42 forest management companies, the country would form a single state forest management company Lithuanian State Forests. The final decision in this matter will be made by the Lithuanian Seimas.

Most investment funds in Latvia functioned with positive yield last year

The majority of investment funds present in Latvia worked with positive yield last year. Their performance was greatly influenced by the investment fund currency – better yield in euros was demonstrated by funds operating with Russian rouble or US dollar, as reported by the Finance and Capital Market Commission.

ERDB ceases participation in capital of problematic asset manager Reverta

On Tuesday, 7 March, European Reconstruction and Development Bank ceased participation in capital of problematic asset manager Reverta, as mentioned in the company’s report submitted to Nasdaq Riga.

EM to assist in building closer economic cooperation between Latvia and China

Latvian Economy Ministry in China wishes to discuss investment attraction matters and the creation of a Latvian-Chinese think tank to better picture directions for future cooperation. Special attention will be provided to enhancing cooperation within 16+1 format and One Belt One Road project.

IKEA borrows EUR 35.4 million from SEB to build a new store in Latvia

SEB Bank and Verus Praedium, which develops IKEA brand of furniture and household goods in Latvia, have signed an agreement on a long-term loan of EUR 35.4 million for the construction of an IKEA store.

Prices to rise three percent in Estonia

The prices of goods and services in Estonia will climb 3 percent in 2017, the Estonian wing of Swedbank predicted. Meanwhile, salaries should increase somewhat faster than prices, the bank’s chief economist, Liis Elmik, evaluated in a press release on Tuesday, March 7.