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Sunday 28.05.2017 | Name days: Vilhelms, Vilis

Social networks and YouTube to build database to prevent recruitment of terrorists

Largest U.S. social networking companies have stated on December 5 that they cooperate to create a joint data base with images and videos that are employed to lure users into terrorist activities.

Economist: investment inflow will be positive, but slower than last year

In Q3, the current account formed a surplus of 1.5% of the country’s GDP, according to data from the Bank of Latvia. This year’s general surplus is 1.1% of GDP. It is expected that investment inflow will remain positive before the end of the year. It will be slower than last year, predicts Swedbank economist Agnese Buceniece.

Pabriks: deals in the media sector are a matter of state security

Deals in the media sector are a matter of state security. With that, Prime Minister Maris Kucinskis and Economy Minister Arvils Aseradens should be more active in efforts to control strategically important business directions, said MEP Artis Pabriks.

Estonian manufacturers step up against excise tax hike on natural gas

Nine Representative bodies of Estonia’s manufacturing industry and the Estonian Employers’ Confederation jointly addressed the government on December 5 protesting against a planned excise tax hike on natural gas.

Ventspils to spend EUR 23,000 on New Year’s fireworks

Festive New Year’s fireworks will cost EUR 22,900 without VAT in Ventspils this year, according to information from the Procurement Monitoring Bureau.

International creditors agree on Greek debt relief

International lenders have on December 5 pledged to ease the heavy debt burden of Greece after a meeting of Eurogroup finance ministers.

BALTA: growth in non-life insurance market exceeds GDP growth indexes

In spite of slow non-life insurance market growth in Latvia, which had reached a mere 6% in the first three quarters, BALTA insurance association concluded the first nine months of 2016 with profits of EUR 3.2 million.

Investors: there are less and less reasons to invest in Latvia every year

In spite of efforts by policy-makers to sort out the business environment and make it more favourable, there have no serious changes in the last twelve months, and Latvia’s overall attractiveness for investors has not improved.

EUIPO estimates the money Europe loses due to counterfeit goods and piracy

Counterfeit goods on the market cause nine industries to lose more than EUR 48 billion every year, according to estimates calculated in studies performed by European Union Intellectual Property Office.

Following an investment of 3.3 million, K-rauta becomes K Senukai

On Friday, 2 December, Baltics’ largest construction, repair and household goods store network Kesko Senukai opened its first new concept shopping centre K Senukai in Riga, Lucavsalas Street. This venture cost the company EUR 3.3 million.

Income from foreign travellers in Latvia declines

In Q3 2016, Latvia’s current account had a surplus of EUR 93.4 million or 1.5% of GDP, notes Bank of Latvia economist Linda Vecgaile.

Expert: Latvia’s real estate market is sick

In medical terms, Latvia’s real estate market is currently sick. It will only recover once all transactions are carried out using actual market price and those whose expectations are overestimated – drop out, said real estate specialist, member of Latvian Real Estate Association and board member of Real State Jurmala Igors Danilevics.

OPEC oil exporters agree to reduce oil output to increase price

The Organization of the Petroleum Exporting Countries agreed on November 30 for the first time since 2008 to reduce oil supply in an attempt to make global oil prices grow. The organisatrion’s head Mohammed Bin Saleh Al-Sada stated that a cut of 1.2 million barrels a day would start from January

Retail trade turnover in Latvia up 0.2%

Compared to October 2015, total retail trade turnover rose by 0.2 % in October 2016. Turnover of retail trade in food products decreased by 2.7 %, whereas the turnover of retail trade in non-food products increased by 2.0 %.

Researcher: 2,500 containers from China annually – the best Latvia can expect

More than 99% of Chinese exports are transported to Europe by sea. More than ten million cargo containers worth more than EUR 350 billion were transported by sea last year.

Automobile makers agree to create electric top-up network in Europe

A group of German and U.S. car firms have joined their forces to establish a network of high-powered electric car charging stations in Europe.

Estonia invites Brits to remain in EU for 100 euros per person

Estonian institutions have launched a promotional campaign to attract young Britons «to stay in EU», by acquiring the e-residency permit of Estonia for 100 euros a person.

Akropole shopping centre’s construction commences in Riga

29 November marked the beginning of construction preparations for Akropole shopping centre on Maskavas Street 257 in Riga.

Ilves presented with Digital Freedom Award

Estonian ex-President Toomas Hendrik Ilves has been on November 28 in Riga awarded with a Digital Freedom Award for his efforts to promoting digital culture in the Baltic states and on a wider scale.