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Sunday 28.05.2017 | Name days: Vilhelms, Vilis

Draghi: Economic recovery in eurozone becomes more solid

Increasingly solid is the economic recovery of the euro area as it faces less risks, evaluated head of the European Central Bank, Mario Draghi. The eurozone’s governing financial institution has maintained its main interest rate on hold at zero for another month.

Citadele and Visa to create a brand new credit card in Baltics

Citadele Bank has signed a contract for long-term cooperation with global payment technology company Visa. The contract provides for close cooperation in the development of new and innovative payment cards and other payment products in all three Baltic States in the next six years.

Lithuania asks Klaipeda gas terminal to be added to EU’s list of projects of common interest

Lithuania has asked Klaipeda LNG terminal to be added to EU’s list of projects of common interest. If European Commission decides to approve this request, Lithuania can hope for financial support of at least EUR 100 million. This funding would help reduce gas prices for consumers in Lithuania and other Baltic States.

Number of Twitter users continues to grow

The count of Twitter users in the first quarter of 2017 has continued to increase considerably, while the revenue of the American firm have gone down since March 2016.

Vegetable producers: the industry has a future, but it is burdened by taxes

Compared with Europe’s southern territories, vegetable and fruit production in Latvia has a future, says manager of Mūsmāju dārzeņi association Edite Strazdina.

Economist: Latvian residents’ overall satisfaction with life is below most EU countries

There are many different measurements in the world that seem impossible to measure – our quality of life and development progress, says Bank of Latvia economist Daina Paula in a publication of makroekonomika.lv, commenting on different measurements that help characterize development of national economy and people’s quality of life.

Coca-Cola facing lower demand to cut 1 200 workers

U.S. company Coca-Cola has stated that it plans to lay off around 1,200 workers in the world as the fizzy drinks producer is facing lower demand.

Producer price level in industry up 0.1% in Latvia this March

Compared to February, the average level of producer prices in Latvian industry grew by 0.1 % in March 2017.

Expert: lower prices in tendering procedures contribute to grey economy

The lowest price principle has dominated public tendering procedures for a long time. Often it comes with heavy dumping and unjustifiably low prices for goods and services, says Latvian Partnership of Building Contractors manager Baiba Fromane.

Five European companies agree to finance Nord Stream 2

Nord Stream 2 and five European energy companies have signed the project’s financing agreement and have shown their readiness to provide funding equal to 50% of the project’s total costs, as confirmed by the company.

Expert: technological companies lay the foundation for modern industry

Projects that are being worked on by science and high-technology companies based in Latvia lay the foundation for modern industry focused on the future, said the founder and manager of Commercialization Reactor acceleration platform Nikolajs Adamovics after the investors and partners day event.

Rail Baltica’s predicted expenses – benefits outweigh the costs

The costs of Rail Baltica standard European railway line project could be equal to EUR 5.7 billion, as reported by Rail Baltica Global Forum 2017 EY partner in Baltic States Nauris Klava.

Cido commences exports of juices to Northern Africa

Baltic beverages producer Cido Group continues developing its export potential. The company has commenced exports of juices to Libya this year. This is the first African country that values juices produced in Latvia. Until now, Latvian juices have been exported to markets like China and United Arab Emirates, as reported by the company.

Authorities identify multiple suspects in Skonto stadium sale’s criminal case

There are multiple suspects in the criminal process launched for the Skonto stadium’s sale, as reported by De Facto programme.

Latvia and Lithuania continue work on single gas market’s development plan

Latvia and Lithuania continue working on single gas market development plan, BNN was told by Latvian Economy Ministry.

Belarus values Latvia’s experience developing e-management

Belarus values Latvia’s positive experience in development of e-management. Constructive cooperation in this field has provided residents in Latvia and Belarus with cheaper roaming tariffs and improved mobile broadband development, as reported by Environment Protection and Regional Development Ministry.

Poor skills in digital technologies can reduce one’s competitiveness on the market

Only 2% of board members in Latvia’s leading retail trade companies have skills working with digital technologies. The same applies to 6% of board members in transport and logistics companies, 4% - in energy companies and 0% in manufacturing companies, according to results of a study performed by personnel selection company Amrop.

Estonia to invest millions in IT and technology business development in regions

Close to 160 million euros are planned to be invested in developing the sector of information and communications technologies in Estonia outside larger cities, according to a state budget strategy for 2018-2021 by the Estonian government.

Study: Latvian businessmen feel threatened the most by increasing tax burden

Nearly all Latvian CEOs expect competition to grow in the future. In addition, this will happen in conditions of deficit of qualified workers, according to results of a study performed by PricewaterhouseCoopers.