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Wednesday 23.05.2018 | Name days: Leontīne, Ligija, Lonija, Leokādija

Latvia had fourth most rapidly growing economy among EU member states in Q1

Compared with January-March period of last year, Latvia experienced the fourth highest GDP growth in among European member states this year, according to data published by Eurostat.

Industries experience clear deficit of workforce; foreigners hired to help out

Already certain industries in Latvia are experiencing major deficit of labour force. It could increase even more because of seasonality. Latvian Chamber of Commerce and Industry proposes approving the list of professions that can be applied with a simplified procedure for attraction of labour force from abroad.

Hydrogen refuelling station under construction; project’s costs planned at EUR 16.1 million

On Monday, 15 May, construction of a hydrogen refuelling station commenced in Riga, Vienibas gatve 6, as reported by Rīgas satiksme.

Lithuania to process criminal case on bribery at Klaipeda port and Latvijas Tilti

Lithuanian Special Investigations Service has submitted to court a criminal case in relation to corruption at Klaipeda port and construction company Latvijas Tilti.

Estonia’s A+ rating upheld by Fitch

Credit agency Fitch has maintained its long-term foreign and local currency issuer default ratings for Estonia at A+, the third highest investment grade.

Windows systems facing ransomware can be protected by updates

A cyber-attack with malicious WannaCrypt software that has hit 150 countries since May 12 block access to files on Windows systems without a March security update, Microsoft announced.

Estonian MEP: EU must not lift sanctions off Russia

Currently peace and freedom in the European Union are accepted as obvious values, but they are not. This is why they should not be rejected, as sanctions against Russia should not be lifted either, said Estonian MEP Kaja Kallas.

Reizniece-Ozola is asked to improve Latvia’s attractiveness for venture capital funds

Latvian Economy Minister Arvils Aseradens has turned to Finance Minister Dana Reizniece-Ozola with a written request to change the ministry’s established practice to apply PIT on pension fund income from participation in venture capital funds.

EM: 2017 will be a period of challenges in energy field for the entire Baltic region

The gas market in Baltic States and Finland has experienced a major decline this past year, creating new challenges – how to maintain gas management and transmission infrastructure and halting further market decline, said Economy Minister Arvils Aseradens at a conference of experts.

EU provides additional funding for project intended to improve cross-border business

European Union has allocated additional funding for the project intended to improve small and medium Estonian and Latvian cross-border business development.

Dombrovskis: budget deficit expected to rise considerably in the future

In spite of Latvia’s rapid economic growth, the country’s budget deficit is expected to rise considerably – from 0.8% of GDP this year to 1.8% of GDP next year, said Vice-President of the European Commission Valdis Dombrovskis in Brussels in relation to the spring economic forecast.

Real estate company: number of deals decreases and prices rise

In April, price rise was observed in all of Riga’s districts from 0.12% in Teika to 0.71% in Vecmilgravis. In the city centre, however, prices remained unchanged, as the situation is described by real estate company Balsts.

Riga International Airport reaches historically highest passenger count

In April 2017, Riga International Airport serviced nearly 490,000 passengers, which is the highest number of serviced passengers in the airport’s history, as confirmed by the airport’s representative.

Estonian exports up 15%, as more agricultural produce exported

The exports of Estonian goods in March as compared to March 2016 grew 15 percent and imports by 12 percent compared, the country’s statisticians have estimated.

Latvia – leader among Baltic States in popularity of hybrid cars

Residents’ interest towards sustainable lifestyle, including technologies that support it, there has been an increase in the number of hybrid cars sold in Latvia.