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Tuesday 23.05.2017 | Name days: Leontīne, Ligija, Lonija, Leokādija

Reizniece-Ozola is asked to improve Latvia’s attractiveness for venture capital funds

Latvian Economy Minister Arvils Aseradens has turned to Finance Minister Dana Reizniece-Ozola with a written request to change the ministry’s established practice to apply PIT on pension fund income from participation in venture capital funds.

EM: 2017 will be a period of challenges in energy field for the entire Baltic region

The gas market in Baltic States and Finland has experienced a major decline this past year, creating new challenges – how to maintain gas management and transmission infrastructure and halting further market decline, said Economy Minister Arvils Aseradens at a conference of experts.

EU provides additional funding for project intended to improve cross-border business

European Union has allocated additional funding for the project intended to improve small and medium Estonian and Latvian cross-border business development.

Dombrovskis: budget deficit expected to rise considerably in the future

In spite of Latvia’s rapid economic growth, the country’s budget deficit is expected to rise considerably – from 0.8% of GDP this year to 1.8% of GDP next year, said Vice-President of the European Commission Valdis Dombrovskis in Brussels in relation to the spring economic forecast.

Real estate company: number of deals decreases and prices rise

In April, price rise was observed in all of Riga’s districts from 0.12% in Teika to 0.71% in Vecmilgravis. In the city centre, however, prices remained unchanged, as the situation is described by real estate company Balsts.

Riga International Airport reaches historically highest passenger count

In April 2017, Riga International Airport serviced nearly 490,000 passengers, which is the highest number of serviced passengers in the airport’s history, as confirmed by the airport’s representative.

Estonian exports up 15%, as more agricultural produce exported

The exports of Estonian goods in March as compared to March 2016 grew 15 percent and imports by 12 percent compared, the country’s statisticians have estimated.

Latvia – leader among Baltic States in popularity of hybrid cars

Residents’ interest towards sustainable lifestyle, including technologies that support it, there has been an increase in the number of hybrid cars sold in Latvia.

Vitol and Helios now own 100% of Vivo Energy

Following the acquisition of 20% of Vivo Energy shares by Vitol Africa B.V., Helios Investment Partners and Vitol have become owners of 100% of Vivo Energy, as reported by Vitol Baltics representative.

Among Baltic States, Latvia exported and imported the least in the past two months

In the first two months of 2017, Latvia’s export volume was EUR 1.642 billion. Lithuania exported goods worth EUR 3.865 billion and Estonia exported goods worth EUR 1.921 billion.

Kucinskis: it is important to form a unified Baltic gas network

Baltic States and Poland should cooperate more closely in efforts to resolve important matters, says Latvian Prime Minister Maris Kucinskis.

Latvian Traders Association: tax reform is being realized at the expense of small businesses

The tax reform provides for a major increase of labour costs for small employers. In accordance with Finance Ministry’s offer, these companies will have to find more than EUR 13 million to, at the very least, maintain their business activities, Latvian Traders Association comments on the situation.

Lithuania set to cut university number from 14 to 4

Lithuania has taken on the biggest ever revamp of its high education – two international-level universities and two technological universities are expected to remain in the country after a planned reform of the current high education system.

Government approves new state budget priorities funding processes

Latvian government approved the new state budget priorities funding process, BNN was informed by Finance Ministry.

Kalnozols: Latvijas Gāze is being used to stifle Latvia’s residents

Latvia’s gas market opened on 3 April. However, this change came without any notable benefits and losses for households. At the moment everything shows that alternatives have appeared only for businessmen, whereas the freedom of choice for households is purely theoretical. On top of that, Latvijas Gāze remains a monopoly on the market, says Saeima member Valdis Kalnozols.

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