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Tuesday 21.11.2017 | Name days: Andis, Zeltīte

Oil approaches 10 percent weekly drop

U.S, crude dropped below 86 dollars a barrel on August 5, accounting for the biggest decline since May 2011, as fear of yet another global economic downfall is making investors head towards the exits in a commodities sell-off.

Swedbank quits Russia

Raffaizenbank is taking over Swedbank credit portfolio in Kaliningrad, as Swedbank is shutting down its branch there.

Dollar drops all-time low against Swiss franc

Swiss franc, a currency especially demanded by investors during the global crisis, is up historically high against the US dollar and the euro.

Global cyber crime finally uncovered

McAfee, one of the leading data security companies in the world, has announced it has discovered a historically large cyber crime that has been stretching for the past five years.

EU probes nine complaints against Google

The technology company Google has overall encountered nine complaints, which are currently being investigated by the EU institutions. So far, the European Commission has confirmed only four actions brought against Google.

All eurozone countries ready to help Greece

All 17 eurozone block member states are ready to make their contribution to the financial aid package for the debt-stricken Greece, which is set to take place in September, according to the European Commission.

Emerging countries buying gold to prepare for new debt crisis

Over the past two months, the Bank of Korea has purchased 25 tons of gold, paying 1.24 billion dollars (LVL 612 mln) for it. During this year, gold prices have already exceeded the previous peak nine times, now hitting 1 640.9 dollars (LVL 810) per ounce.

Latvia reports biggest industrial producer price surge in EU

Compared to the previous month, industrial producer prices remained stable in the EU and the euro area in June 2011. The biggest month-on-month increase in prices in the EU was reported in Latvia: +1.3%, according to Eurostat data.

Experts: US still in threats of losing «AAA» credit rating

Even if the United States Congress gives green light to the debt ceiling increase, the U.S. could still lose the debt rating of «AAA» within half-year, mainly because the decision does not foresee the introduction of sufficiently-large cost reduction measures, experts believe.

Russia still banning vegetable import from Baltics

Russia has still not lifted the ban to import vegetables in its territory from the Baltic States, explaining such a decision with the lack of necessary documents.

Leading Russian gas partner sues Gazprom

One of the leading Russian gas consumers in Europe, German concern E.On, has brought action against Gazprom.

US House of Representatives agrees to raise debt ceiling

The US House of Representatives has voted for raising the country's debt limit to escape a default. The bill was passed with 269 votes «for» and 161 «against».

EU’s third highest unemployment rate – in Latvia

Compared to the previous month, the unemployment rate in the EU hit 9.4% in June 2011. The registered unemployment in Latvia is the third highest (in the first quarter – 16.2%) in the EU, according to the Europe’s central statistical office Eurostat.

HTC: Apple lawsuit not to harm the company

Taiwanese smartphone maker HTC has announced the lawsuit against technologies giant Apple «will not have a fundamental impact on the company».

US escapes default

Oil price mounts over one dollar

On the morning of August 1, crude price climbed over 1 dollar, with Brent price nearing 118 US dollars.

SEB: U.S. politic kitchen worries financial markets

European countries trouble with budget deficits and sovereign debts rank among the major issues of great concern for financial markets, however, now the biggest fear is over the U.S. inability to reach an agreement on raising its debt ceiling and cutting expenditure.