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Ceturtdiena 23.11.2017 | Name days: Zigfrīda, Zigrīda, Zigrīds

To prevent fraud, audit of MPC recipients to be performed in Latvia

Latvian Economy Ministry intends to perform an audit of mandatory procurement component recipients and use new regulations to combat fraudulent activities, as confirmed by Economy Minister Arvils Ašeradens.

Estonian construction price index pushed up by wages

The construction price index in Estonia has in July-September of 2017 increased by 0.9% in comparison to second quarter this year and by 1.7% from July-September of 2016, Estonian statisticians have estimated.

Surplus of Latvia’s government budget reached 9.5 million euros in 2016

In 2016 general government budget surplus accounted for EUR 9.5 million or 0.04 % of the Gross Domestic Product, whereas general government consolidated gross debt amounted to EUR 10 091.6 million or 40.6 % of the GDP.

Latvenergo recognized as Latvia’s most valuable company for tenth time

Latvenergo has been recognized as Latvia’s most valuable company in 2017. Its value grew 34% in comparison with 2016, according to the TOP 101 list of Latvia’s most valuable companies compiled by Prudentia and Nasdaq Riga.

CC applies binding conditions for the sale of MTG Broadcasting AB

Latvian Competition Council has decided to permit Bite Lietuva to purchase MTG Broadcasting AB group’s businesses in Latvia. CC has applied several binding conditions to prevent a possible impact on competition on the television services and advertisement market.

Eesti Energia warns: Limiting CO2 emissions on capacity could endanger energy supply

Estonian energy giant Eesti Energia has evaluated that a plan under discussion in the European Union to introduce a carbon dioxide release limit for capacity mechanisms to qualify for subsidies could adversely affect the security of supply in Estonia and the Baltic states.

LG cozies up with idea of rebuilding railway tracks to Reņģe, Latvia

Lithuania‘s Lietuvos Geležinkeliai has sent a mixed message as to what it intends to do next following an EC fine of nearly 28 million against it over the dismantling a 19-km railway stretch with the Latvian village of Rengė.

Estonian port company makes 29% more revenue in January-September

Estonian state port company Port of Tallinn has made the revenue in the amount of 99.1 million euros in the first nine months of 2017, which is a 29% increase compared to January-September in 2016.

BATL: to avoid crisis in transit sector, government and Transport Ministry must act

Latvian Prime Minister Māris Kučinskis’ led Latvian Ports, Transit and Logistics Council also supports Saeima’s National Economy Committee’s decision on the need for Transport Ministry to develop a long-term vision for the development of the country’s transit industry.

Exchange indexes reach new records; oil prices increase as well

Dow Jones Industrial Average and Standard & Poor’s 500 index reached new record-high values on Tuesday, 17 October. US dollar value before euro and Japanese yen increased.

Hydrogen-powered transport technology – a reality in Latvia

There are plans to establish a hydrogen refuelling station in Riga before the end of 2017. A publicly available H2 refuelling station in Riga would secure an inter-state network of hydrogen refuelling stations: the closest other station will be established in Pernava, says Association Zero Emission Mobility Support chairman Arnis Bergs.

What will be the consequences for companies that cheated with electricity production permits

Businesses that were caught using fake permits for electricity production in mandatory procurements will not have their permits extended, says Latvian Economy Minister Arvils Ašeradens.

Orkla Foods Latvija invests 122 000 euros in new production line and design

Juice and sauce producer Orkla Foods Latvija owned by the Norwegian conglomerate Orkla Group is investing 122 000 euros in a new production line and in the development of new product packaging design.

London housing rent prices have risen sharply to low-income renters, study finds

UK low-income renters currently on average pay 28% of their monthly income on housing rent, which is a considerable increase from 21% in the mid-1990s, researchers have found.

With central banks keeping mum, talks of RE bubble deemed unfounded

The Baltics‘ real estate market remains bubbly and robust, but the exuberance the market shows seems worrisome to some. Yet the majority points to the Baltic central banks. Unless they send a message of distress, followed with the tightening of lending, there’s nothing to worry about.