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Wednesday 22.02.2017 | Name days: Rigonda, Adrians, Ārija

Lusis: capacity of Russian ports is not limitless

Competition in the transit industry has undoubtedly become sharper lately. Nevertheless, there will be cargoes headed in Latvia’s direction, predicts chairman of Latvijas Dzelzceļš subsidiary enterprise LDz Logistics Verners Lusis.

Cargo turnover of Baltic ports declines 3.7% in 11 months

In the 11 months of 2016, Baltic ports received and transshipped a total of 132,632 million tons of cargoes, which is 3.7% or 5.099 million tons less when compared with the same period of 2015, according to data from the Central Statistical Bureau of Latvia.

LPTA: retail traders to suffer from consequences of low-quality legislation

Latvian food retail trade volumes could come close to last year’s, when turnover increased by only a couple of percent, as predicted by CEO of Latvian Food Traders Association Noris Kruzitis.

Conexus Baltic Grid receives licenses for gas storage and transmission

On Thursday, 5 January, Public Utilities Commission decided to issue licenses for gas transmission in Latvia and storage in Incukalns underground storage facility to Conexus Baltic Grid.

Enefit: Latvia to increase energy saving on a national level this year

Latvia’s energy industry will take first practical steps to realize European Union’s requirement to ensure energy saving on a national level.

400,000 euros defrauded in Rīgas satiksme’s nano-technologies case

Continuing pre-court investigation of the criminal case in relation to possible fraud in the procurement of nano-technologies cleaning substances by Rīgas satiksme, State Police has acquired proof of guilt of at least four individuals.

SRS asks taxpayers to pay attention to account numbers when exacting payments

The number of state budget revenue accounts for excise tax payments has been reduced significantly this year. There are now 12 accounts in total, as opposed to 54 accounts that were in place before. This ensures one account for each excise tax product category, as reported by the State Revenue Service.

L’Oreal unveils hairbrush that «hears» breaking hair

French cosmetics firm L’Oreal has presented a smart hairbrush designed to assist users as they seek avoiding breaking hairs, while combing.

Agreement taking place in Baltic commercial transport industry

Monday, 2 January, marked the conclusion of reorganization intended to secure cross-border agreement of three Baltic commercial transport repairs, maintenance and spare parts trade companies.

Digital money bitcoin jumps exceeding USD 1,000

The value of digital currency bitcoin has this week exceeded USD 1,000, which is its highest point in three years.

Production rise influenced by product demand in export markets

Compared to November 2015, industrial production output increased by 11 % in November 2016, according to calendar adjusted data at constant prices.

Balsts: real estate market requires foreign investments

«All indexes show that real estate market development has to continue in 2017. But if favourable conditions are not created for businesses, development of small businesses and attraction of foreign investments, expected growth may turn into stagnation,» – says Balsts chairman Aigars Zarins.

Volvo outperformed as Sweden’s most popular car first time since 1962

The best-selling car in 2016 has not been a Volvo. The classic Swedish brand been outperformed by a foreign brand for the first time in 54 years.

Estonia to consider switching to four-year budget cycle

Estonian Finance Ministry has started the year by suggesting considerable change. On Monday, January 2, it proposed to the government changing the cycle of state finance planning from a one-year to a four-year budget.

Opinion: risks for Latvian-Chinese cooperation based on difference in available resources

«There is no reason to doubt the claim that Chinese businessmen are interested the most in fast, cheap and safe container transports to Europe in Latvia,» – Kapitāls magazine writes, adding that risks for this cooperation lie in the difference between resources available to the two countries.

airBaltic receives second CS300 aircraft

Latvian airline airBaltic has received the second of its 20 Bombardier CS300 jets on firm order. The modernized fleet will ensure growth of the carrier with at least 10 additional routes and 16% more tickets on sale in 2017.