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Ceturtdiena 17.08.2017 | Name days: Oļegs, Vineta

Estonian companies invest in innovations and Latvian companies invest in employees

Large companies in Estonia are in the lead among Baltic States in terms of innovations in products and services. 64% of Estonian companies make investments in this field. This index is 56% in Lithuania and 47% in Latvia.

Doubts voiced about Silk Road if it leads one way

To ensure more cargoes are sent after the first test cargo train from China and Latvia, it is important to ensure track load in both directions. Companies working in the transit industry are rather sceptical about railway transport connectivity with China could exceed marine transports and compensate the loss of Russian cargoes, as reported by De Facto programme of LTV.

VNT forced to install vapour recovery unit elsewhere

Eleven months after the initial announcement of plans to install a vapour recovery unit, Ventspils nafta terminals has decided to commence construction of the unit on leased territory on Talsu Street 75.

16+1 summit is taking place in Riga

On Saturday, 5 November, Riga will be hosting the meeting of heads of state of countries of Central and Eastern Europe and China. The meeting will be chaired by Latvian Prime Minister Maris Kucinskis.

Estonian parcel machine producer cooperates with U.S. largest retailer

Estonian automated parcel machine producer Cleveron has installed its first device at a Walmart supermarket as the retail giant plans to have a total of 15,000 of these machines.

Head of China’s government arrives in Riga for 16+1 summit

Following the beginning of the 16+1 summit in Riga, Chinese Prime Minister Li Keqiang arrived in Latvia on Friday, 4 November. He has meetings organized with Latvia’s high-rank officials – the president, prime minister and Saeima spokesperson.

KPMG: Latvian companies should work with each other in China and offer niche products

Latvian companies that wish to start a business in China should be open for cooperation, be able to develop a clear offer for the Chinese market and focus on exclusive and niche products. To be able to attract Chinese investments, Latvia has to come up with integrated projects and logistical solutions that...

Industrial production output in Latvia up 2.4% in September

Compared to September 2015, industrial production output rose by 2.4% in September 2016. Production output in manufacturing increased by 5.6%, in mining and quarrying by 1.1%, but in electricity and gas supply it declined by 14.5%.

EU youth employment efforts yield «disappointing» results

The employment programme Youth Guarantee implemented by the European Union has been seen as failing to reduce high employment levels, but the European Commission points to its success stories.

Micro enterprise tax will no longer include state social insurance fee

In 2017, Latvia will change the applicable micro enterprise tax rate. Specifically, it will no longer include state social insurance fee. This is why payers of micro enterprise tax will be obligated to perform mandatory fees for each separate employee, as reported by the State Revenue Service.

Facebook recognises there’s limit to mass advertising

Internet’s largest social networking site has warned its shareholders that over the coming months increase in advertising income would slow down since Facebook has recognised that two much advertising could reduce number of active users.

LCCI: multiple companies have experienced unfair competition in recent years

Latvian Chamber for Commerce and Industry has released a call, urging state institutions, the media and society to be more critical towards the campaign launched by Animal Freedom organization against Balticovo. This campaign creates the impression that the egg producer keeps hens in horrible conditions.

Traffic restrictions to be in place in Riga during 16+1 summit

Traffic restrictions in Riga will be imposed for the duration of the summit of leaders of state from China and countries of Central and Eastern Europe or 16+1 summit from 3 November to 6 November.

CC reveals secret agreement in Latvian railway price surveys

On 6 October, Latvian Competition Council made the decision to punish seven companies for secretly coordinating their actions in 29 price surveys performed by Latvijas dzelzceļš for construction and repair work in different Latvian regions. For participation in a secret agreement, the fine applied to companies reaches nearly EUR 52,000.

Criminal process launched in relation to diesel trains modernization project

State Police Economic Crimes Prevention Office has launched a criminal process in relation to Pasažieru vilciens’ diesel trains modernization project worth EUR 22 million, as reported by Panorāma programme of LTV.

New micro-enterprises will be allowed to be founded before July 2017

On Monday, 31 October, the Saeima conceptually supported amendments to the Micro-enterprise Tax Law that provide start-up businesses with the opportunity to apply for micro-enterprise tax regime before 30 June 2017.

Tesla unveils roof tiles with installed solar panels

U.S. electric car manufacturer Tesla has unveiled solar panel roof tiles as an alternative to roof materials and additional solar panels added to them.

Osinovskis hopes to manufacture trams in Latvia with state support

Bribery-accused Estonian businessmen Oleg Osinovkis hopes for long-term state orders and victories at tram procurements in order to save Daugavpils Locomotive Repair Plant from bankruptcy, as the businessman told De Facto programme.

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