Finnish telecommunications firm Elisa has announced it has built a test network with the fastest 4G mobile internet speed.
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.
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.
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.
Calendar of economic events in Latvia for 29 August – 2 September, 2016...
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.
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.
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 %.
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.
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.
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?