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Wednesday 22.02.2017 | Name days: Rigonda, Adrians, Ārija

Finnish telecoms firm claims to have broken 4G network speed record

Finnish telecommunications firm Elisa has announced it has built a test network with the fastest 4G mobile internet speed.

Retail trade turnover increases 1.3% in Latvia

Compared to July 2015, total retail trade turnover rose by 1.3% in July 2016. The turnover of retail trade in food products dropped by 3.9%, whereas the turnover of retail trade in non-food products increased by 4.6%.

Experts: exports of construction services are delayed by industry’s fractured state

Up until now weak state policy for the development of the construction industry has been slowing down the competitiveness of Latvian companies in other countries, preventing them from using export potential to its full extent, believes head of Latvian Building Contractors’ Partnership Baiba Fromane.

Average salary growth rates become slower in Latvia

In Q2 2016, average gross wages and salaries in the country constituted 838 euros. Compared to Q2 2015, average wages and salaries grew by 3.3% or 27 euros, indicating 2.6 percentage points lower annual increase rate than in Q1.

Authorities arrest 11 million of Trasta komercbanka’s suspicious funds

30 criminal processes have been launched against the liquidated Trasta komerbanka. As part of the criminal processes, EUR 11 million of suspicious funds of the bank has been arrested, as reported by De Facto programme of LTV.

Economic calendar of Latvia. 29 August – 2 September, 2016

Calendar of economic events in Latvia for 29 August – 2 September, 2016...

WhatsApp to show ads to users

U.S. firm WhatsApp has this week announced it would give more data to Facebook and allow a number of companies to send messages to users of the smartphone messaging app.

193.6 million transactions have been performed in Latvia this year

A total of 193.6 million transactions were performed in Latvia’s payment system in the first half-year of 2016. This includes transactions performed using credit cards, e-money, financial institutions, Bank of Latvia, Latvian Post and State Treasury clients. The total volume of processed money reached EUR 148.2 billion.

Nordea and DNB to cooperate in Baltic States

Nordea Bank and DNB Bank have signed an agreement on cooperation in Estonia, Latvia and Lithuania to create a new leading bank in Baltic States with powerful Nordic roots.

Self-driving taxi service launched in Asia

According to press reports, Singapore has become the first place, where a service of self-driving taxis has been launched.

Google to actively discourage sites from placing pop-up ads

U.S. internet giant Google has announced that it plans, from January 10, 2017, to use changed algorithms in its search engine that are likely to result in showing web sites that use pop-up advertising lower in search results.

Number of tourists from USA, Spain and UK increases in Latvia

There were 612.9 thousand visitors who stayed in Latvian accommodation establishments in Q2 2016, which was 6.1 % more than during the corresponding period of the previous year. As compared to Q2 2015, the number of nights spent by visitors has increased by 6.6 %.

Tesla electric cars to have 100 kWh batteries

American electric car maker Tesla Motors announced on August 23 a 100 kWh battery that would allow its automobiles to accelerate faster and to travel a distance of over 450 kilometres after charging once.

LDz to cooperate with Russia’s largest railway cargo operator

On Tuesday, 23 August, LDz President Edvins Berzins and CEO of Russian railway cargo operator Pervaja gruzovaja kompanija Aleksandr Sapronov signed a memorandum in Moscow on the development of relations between the two companies in the sphere of transports and logistics.

KVV Group threatens Latvia with possible fine of up to EUR 300 million

Ukrainian KVV Group is preparing to submit a complaint to the European Commission’s Anti-Monopoly and Corruption Prevention Committee against Latvia. This could result in Latvia having to face a fine of EUR 150 to EUR 300 million, as reported by KVV Group’s press secretary Natalia Napadovskaya.

Travel spending in world continues to grow

Despite tourists avoiding countries with frequent terror attacks, global travel spending continues to grow globally.

LTV: UGF ministers looked naïve when having lunch with Russia’s Vice-Prime Minister

It is possible that Latvia’s representatives at the informal lunch with Russian Vice-Prime Minister Arkady Dvorkovich looked rather naïve, as concluded by De Facto programme of LTV. They asked Dovrkovich – do decisions made by Russia’s railway and gas industry have a political or business context?