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Friday 22.06.2018 | Name days: Ludmila, Laimdots, Laimiņš

EC proposes 1.28 trillion-euro budget with lower agriculture payments

As the European Commission proposes a 1,28 trillion-euro budget for the European Union in the 2021-2017 period, spending cuts are aimed at farm subsidies and regional development aid.

Retail trade turnover in Latvia up 6.5% in March

Compared to March 2017, the total retail trade turnover rose by 6.5 % in March 2018. Turnover of retail trade in food products has increased by 6.8 %, turnover of retail trade in non-food products by 6.0%, and turnover of retail sale of automotive fuel by 7.3 %.

Construction costs in Latvia up 0.5%

Compared to February, level of construction costs in Latvia grew by 0.5 % in March 2018. Labour remuneration of workers rose by 1.1 %, prices of building materials by 0.5 %, and maintenance and operational costs of machinery and equipment by 0.2 %.

Spanish resort city to prohibit renting apartments to tourists

Palma, the Spanish resort city in the Mediterranean island of Majorca, has adopted a restriction that apartment will be not allowed to rent their apartments to travellers, becoming the first place in Spain to introduce such a ban.

Rail Baltica’s infrastructure management model to be studied by British company

On 8 November 2017, RB RAIL joint Baltic company announced the winner in the tender for the study of Rail Balica’s infrastructure management model. The winner was British design, engineering and project management consulting company: Atkins and SNC-Lavalin Group.

Estonia and Finland to share patient data over innovative «secure» data highway

The Estonian-developed international data exchange technology X-road, said to be hacker-proof is to be the basis for a new Estonia-Finland system of linked doctor prescription registers that would make prescriptions issued in one country available in pharmacies in the other.

Economy Ministry: producer prices will affect dynamics of raw material prices

Producer prices in industry will grow in 2018 similarly as they had in 2017. Producer price level is largely affected by fluctuations of raw material prices in the world, as noted by Latvia’s Economy Ministry.

Municipality: after meeting in summer, British Steel refused to buy KVV Liepājas metalurgs

After the meeting that took place at the end of August 2017, British Steel, which had previously voiced an interest in KVV Liepājas metalurgs, refused to purchase the bankrupt company, says Liepaja City Council chairman’s advisor for public relations matters Andrejs Rjabcevs.

France to fine for naming veggie foods in meat terms

In France, vegetable-based products such as soya steaks or vegetarian sausages marketed as meat substitutes are to be banned in France for misleading consumers as it will be prohibited for food producers to use any meat terms to label products that do not contain meat.

State Secretary: Latvia and China share good economic cooperation perspectives

To present topical issues of Latvian-Chinese economic cooperation to businessmen, as well as contribute to formation of new business contacts, officials have launched the Latvia-Ningbo Economic & Trade Cooperation Symposium, as reported by Foreign Affairs Ministry.

ABLV Bank urges FinCEN to withdraw «exaggerated accusations»

Lawyers of ABLV Bank, which is currently in the process of self-liquidating, urge US Department of Treasury’s Financial Crimes Enforcement Network to withdraw its published proposal, which details how ABLV Bank’s management had allegedly used bribes to influence Latvian officials and breach sanctions against North Korea.