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Sunday 22.10.2017 | Name days: Irīda, Īrisa

With central banks keeping mum, talks of RE bubble deemed unfounded

The Baltics‘ real estate market remains bubbly and robust, but the exuberance the market shows seems worrisome to some. Yet the majority points to the Baltic central banks. Unless they send a message of distress, followed with the tightening of lending, there’s nothing to worry about.

2018 to be «painful» to 30% of Latvian fishermen, say experts

To a third of Latvian fishermen the year 2018 will be «painful» because of the European Union's fishing quotas to Latvia in the Baltic Sea, but most of the entrepreneurs in the industry will be winners, evaluated the Latvian National Fisheries Producers' Organisation.

Latvian unemployment decreases to 6.6%

The rate of registered nationwide unemployment in Latvia decreased by 0.3 percentage points in September to 6.6%, estimated the Latvian Employment State Agency.

Latvia U-turns on «farmer-maddening» vehicle insurance amendments

The ruling coalition of the Latvian Saeima will reject government-backed amendments which would oblige owners to buy compulsory motor vehicle civil liability insurance for vehicles used off public roads, for example, used in farming.

Google finds Russian advertising campaign around U.S. election, media report

Internet giant Google has discovered evidence of Russian agents spending large sums of money in attempts to affect the 2016 U.S. presidential election, media wrote.

Expert: Reduced VAT rate on fruit and vegetables to have economic effect

The Latvian government has decided to lower VAT rate on fresh vegetables, fruit and berries to 5%, triggering an active discussion on possible effects of the decision among professionals and consumers. Commercial director of retailer Elvi Latvija has voiced her opinion.

Week in Lithuania. Lithuanian, German ministers sign agreement on 1918 Independence Act

The foreign ministers of Lithuania and Germany signed in Berlin on Thursday, October 5, an agreement on handover of the February 16, 1918 Independence Act to Lithuania for five years.

EC orders Amazon to pay 250 million euros after receiving unfair tax deal

The European Commission has ruled that the U.S. e-commerce giant Amazon has received large, unfair tax discounts in Luxembourg, while other businesses have not been granted such tax advantages.

Latvian farmers oppose the need to buy insurance for vehicle, if it's not used on road

Latvian farmers are opposed to the requirement backed by the Latvian government for owners to buy compulsory motor vehicle civil liability insurance also for vehicles that are not used in road traffic, says the board chairman of the Latvian Agricultural Organization Cooperation Council, Edgars Treibergs.

Single elderly households are poorest in Latvia

Among Latvian households, the lowest income has been observed in the households of single and elderly people, who are aged 65 or older, Latvian statisticians have estimated.

Estonian cooperative bank Coop Pank starts operations

Estonian Krediidipank has been from Monday, October 2, rebranded to Coop Pank reflecting the principles of operation of its largest owner – a group of cooperatives.

Estonia, trading CO2 pollution quotas, made 25 million euros in 2016

As part of the EU emissions trading system in 2016, Estonia earned over 23.5 million euros from selling in auction its unnecessary greenhouse gas emission units, the Baltic country’s Minister of the Environment has stated.

Google submits to EK pressure not to distort competition

Google has announced its search engine would not privilege its own shopping service over rivals in an push to avoid further fines from the European Commission fines, after the U.S. tech giant was punished by a record antitrust fine of 2.4bn euros in June.

Latvenergo enters Estonia’s gas market

Latvenergo’s energy trading company in Estonia – Elektrum Eesti – has commenced selling natural gas to business clients, as confirmed by the company.

Oil prices grow in New York but decline in London

Exchange indexes in USA and Europe increased after US President Donald Trump unveiled his tax reform plan on Wednesday, 27 September. The president’s tax plan provides for reducing corporate income tax rate from 35% to 20% and offering tax discounts for companies to ensure their profits return to USA from abroad.

EC fines Scania with 880 million euros for price fixing with rivals

Swedish truck and bus maker Scania has been fined 880m euros by the European Commission for cooperating with five other truck-factories to fix prices and avoid emissions costs.