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Saturday 19.08.2017 | Name days: Melānija, Imanta

Expert: alongside with the inflation growth, Russia has to consider raising interest rates

Experts are of the opinion that, alongside with growing inflation,the Central Bank of Russia should reconsider the option of increasing the interest rates.

Estonia to cut subsidies for renewable energy

Estonian government wants to reduce subsidies for renewable energy producers, thus reducing costs for consumers, indicates Minister of Economic Affairs of Estonia Juhan Parts. The Ministry of Economics of Estonia plans to prepare amendments in the bill.

Lithuanian GetJar – one of World Economic Forum winners

For the first time in the history, the Lithuania mobile phone application developer GetJar, has been recognized as one of the world’s most innovative companies for the category Technology Pioneer 2011 in World Economic Forum (WEF).

US economy hits low point

The US economy is currently at such state that it even does not have to be concerned about a double-dip recession.

European Central Bank finds little comfort

The European Central Bank (ECB) will not change its record low interest rate – 1%. The impressive growth of Germany does not make amends to the management of ECB, as the European financial market is again confronted with concern about the performed loan operations.

Anglo Irish Bank loss – 8.2 billion euro

Anglo Irish Bank (AIB) has notified about 8.2 billion euro (5.7 billion dollars) loss in the first half of 2010, which has been recognized as an extremely difficult period.

Billionaire imprisoned for taking bribes

Beijing court has sentenced one of the wealthiest men in China to 14 year imprisonment, as well as, to 100 million euro large fine for taking bribes.

Lukashenko seeks alternatives to Russian oil

The President of Belarus Alexander Lukashenko is seriously searching for alternatives to Russian oil, announcing that Belarus does not intend to fight with Russia in all the possible ways.

Bank of England to set credit limitations in fears of new recession

The Bank of England, fearing new crisis wave, intends to introduce restrictions on the maximum amount of mortgage loan. In this way, the bank hopes to avert another financial crisis, while those who wish to get a mortgage, will have to open a special deposit account, issued by the creditor that will be 10 - 25% of property value.

Russia’s wealthiest children income redoubles

During this year, the number of wealthy children in Russia has increased by one half, but their total affluence – redoubled.

Consumer market booms in China

According to recent studies conducted by Economic Intelligence Unit, about 5% of consumers in world are inhabitants of China. The total amount of turnover in world is 36.9 trillion dollars (1.7 billion lats).

Clothing prices will increase due to flooding in Pakistan

Due to the ongoing flooding in Pakistan, clothing and bedclothes might become more expensive. Textile manufacturers around the world are anticipating a new rise in cotton prices, because the severe flooding has significantly affected Pakistan’s cotton industry.

Swedish government promises to cut taxes

The coalition parties in the government of Sweden will focus more on the issues in relation to employment, income tax and the restaurant service tax reduction.

Struggle for influence could paralyze IMF work

The clash for influence between countries threatens to paralyse the work of International Monetary Fund (IMF), if US and Europe are not able to reach an agreement on how to pass on greater influence to growing economies in the nearest future.

Luzhkov supports increasing the range of Latvian goods in Moscow

Moscow Mayor stated in the press briefing that the sales of Latvian goods can be boosted in Russia’s capital city – Moscow.

China in competition with USA

China becoming the second leading country in the world economy, ahead of Japan, has led guesses that soon it will deprive the leadership from the USA.

USA recalls 170 tons contaminated meat

USA has recalled 170 tons of contaminated meat, that may have been infected by a dangerous bacteria. Contaminated meat products distributed by the chain Wall-Mart, were detected in the state of Georgia during the tests.

Toyota will offer hybrid features in all car models

On Wednesday Toyota Motor announced its plans to sell 5 million hybrid cars by the end of the first decade.