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

Adding more EUR 10m Rail Baltic stops up for analysis, says Ratas

The current project of the international high-speed railway Rail Baltica contains three stops in its Estonian part, while adding more would need careful analysis, stated Estonian Prime Minister Jüri Ratas.

Okmanis: stores should become modern to survive

Competition in the trade sector continues to grow in Latvia, admits Raimonds Okmanis, chairman of Latvian Traders Association.

Investment volume in Latvia’s real estate market exceeds EUR 300 million

The volume of investments in Latvia’s real estate market exceeds EUR 300 million for the fourth consecutive year. The total investment volume reached EUR 341.3 million in 2016, compared with EUR 394.4 million in 2015, according to data from Colliers International Latvia.

Hesburger plans to open nine new restaurants in Baltics

Sales of Finnish and Baltic fast food restaurant network Hesburger in Baltics reached EUR 58 million last year.

Nordea: Latvia is the most demanding among Baltics in terms of bank supervision

Of the three Baltic States, Latvia is the most demanding when it comes to regulator requirements for banks. This is largely because of its banking market’s state. Nevertheless, requirements are not inadequate, Nordea bank head in Latvia Janis Buks said in an interview.

EC calls on Italy to substantiate denied claims of alleged car emissions cheating by Fiat

Italy has been invited by the European Commission to substantiate with proof the denial of allegations by the German government that Italian carmaker Fiat Chrysler has installed illegal exhaust emissions cheating equipment.

Rention: unification will ease rent and other payments

Commencement of cooperation with Corvin Real Estate, Rention housing management system will combine and simplify procedures like management and signing of utilities, rent and other payments, as well as issue of receipts, submission of counter readings and compilation of declarations, Rention representatives say.

Nordea and DNB hope to begin merging process in Baltics in February

The necessary permits from competition and financial market supervisors to allow the merging of Nordea and DNB banks will have been received by the end of February, says Nordea bank’s head in Latvia Janis Buks.

Average consumer price level grew 2.2% in Latvia last year

In 2016, the average level of consumer prices increased by 2.2 % in Latvia. Prices of goods grew by 1.7 % and prices of services by 3.4 %.

Estonia’s exports grow, leading markets – Nordic nations

The exports of Estonian companies have grown 6% from November 2015 to November 2016, the Baltic nation’s statisticians estimated.

Emissions scandal no obstacle for VW’s record sales

German automobile-maker Volkswagen has announced that it has reached its record sales – 10.3 million cars - last year, regardless of its damaged reputation that suffered in the diesel emissions cheating scandal in 2015.

LDz: significant increase noted in black metal segment

The volume of coal transported via LDz infrastructure had increased significantly in December 2016 – the volume of coal cargoes had increased by 28.4% when compared with December 2015. Overall, LDz has transported nearly 16 million tons of coal in one year, as confirmed by the company.

Lusis: capacity of Russian ports is not limitless

Competition in the transit industry has undoubtedly become sharper lately. Nevertheless, there will be cargoes headed in Latvia’s direction, predicts chairman of Latvijas Dzelzceļš subsidiary enterprise LDz Logistics Verners Lusis.

Cargo turnover of Baltic ports declines 3.7% in 11 months

In the 11 months of 2016, Baltic ports received and transshipped a total of 132,632 million tons of cargoes, which is 3.7% or 5.099 million tons less when compared with the same period of 2015, according to data from the Central Statistical Bureau of Latvia.