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Tuesday 21.11.2017 | Name days: Andis, Zeltīte

United Nations: Europe at risk of double dip recession

A new crisis in a form of another downfall might hit the European Union in 2011, according to the United Nations Conference on Trade and Development statement on the current economic situation and forecasts for 2011.

China attracts 100 billion dollars in direct investments

China attracted record-high direct investment volume – 106 billion dollars in 2010, which is a leap of 17.4%, compared to the previous year.

Euro has lost nearly 22% of its value since 1999

Since 1999 the European single currency has lost nearly 22% of its value. Comparing to 1999, at the moment the purchase power of one euro in the European Union countries equals 78 euro cents on average.

Brent crude approaches 98 dollars per barrel, due to OPEC announcement

Brent crude oil price is likely to surge in the future. Such a statement was made after OPEC’s announcement that crude oil production output will be maintained even if the price reaches 100 US dollars per barrel.

Airbus hits new aircraft deliveries record

has managed to increase its production output for the ninth consecutive year, thus hitting a new record of the company, Airbus told the business news portal BNN.

China’s economy grew 10% last year

Last year, China’s gross domestic product growth formed about 10%; yet, economic overheating may become one of the key risks in 2011, announced Zhou Xiaochuan, the senior economist at Central Bank Statistical Bureau.

Germany blames Barroso for complicating eurozone crisis

European Commission president Jose Manuel Barroso is making the eurozone financial crisis even more complicated by proposing to boost the eurozone rescue fund, says the German Finance Minister Wolfgang Schaeuble.

Fitch cuts Greece credit rating

The international credit rating agency Fitch has downgraded Greece long-term credit rating from BBB- to BB+, highlighting the EU member state's inability to tackle the severe financial crisis.

On the brink of global food crisis

The US government's cuts in stock forecasts for crops have boosted corn and soybean prices to 30 months high.

Latvia reports the 12th lowest annual inflation in EU

In December 2010, the annual inflation in Latvia grew 2.4%, accordingly it was the 12th lowest inflation in the European Union.

EU car registrations drop 5.5%

The number of new cars registered in the European Union dropped 5.5% last year, compared to 2009, according to the European Automobile Manufacturers data. 13 360 599 cars were sold in 2010, while the figure amounted to 14 132 346 in 2009.

Euro drops slightly after gaining on Portugal bond auction

Euro has slightly slipped against the dollar after gaining on a successful Portugal bond auction, thus easing the concern over the European debt crisis.

Frost and stock decrease propel oil price surge towards 92 dollars per barrel

On Thursday, January 13, the oil price maintained slightly below 92 US dollars per barrel.

Poland wants to join eurozone

Despite Poland has not yet set a specific target date for the euro introduction, the government will make real effort to introduce the euro, according to the Polish Cabinet of Ministers.