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Monday 18.06.2018 | Name days: Madis, Alberts

Moody's finds a hole in China’s banking system

China’s banks have secured more loans to its local governments than indicated in the official statistics. This threatens to worsen the country's banking sector outlook, consider experts at the international rating agency Moody's.

Amazon acquires online book retailer

The e-commerce giant Amazon is taking over one of its competitors, announcing that it has acquired the international book sales website The Book Depository International.

Latvia's industrial producer prices – second highest in EU

Compared to April, producer prices in the EU fell 0.3% in May 2011, while in the eurozone – by 0.2%. Month-on-month, Latvia reported the second largest price gains in the EU, hitting 1.3%, indicate Eurostat data.

Greece not to overcome crisis by late 2011

The Greek economy will remain in recession until the end of this year, believe the European Commission and the European Central Bank, forecasting that the country's gross domestic product will shrink 3.75%.

Arab Emirates: oil prices too high and inadequate

The United Arab Emirates are sharply criticizing OPEC's decision not to increase oil output, questioning whether the reduction of strategic reserves will enhance the efficiency of top crude consumers.

US credit rating in treats of steep downgrade

The rating agency Standard & Poor's is ready to downgrade the US credit rating to «selective default» level if the White House does not pay the national debt worth 30 billion US dollars (LVL 14.67 bln) by August 4, this year.

Belarus asks Russia to freeze the gas price

Belarus has requisted Russia to freeze the gas price this year, announced Vladimir Semashko, the country’s Deputy Prime Minister. So far, Belarus, who is currently facing an economic crisis, has managed to pay for Gazprom's supplied gas within the set time-limits.

Eurozone’s inflation estimate for June – 2.7%

In June 2011, inflation in the eurozone is likely to hit 2.7%, compared to the same month last year, reports Eurostat.

Brent crude rises above 112 US dollars

Brent crude has exceeded 112 US dollars. This was prompted by shrinking US oil stocks and weaker dollar due to the Greek parliament's decision to take austerity measures.

Latvia reports the second lowest employment rate for men in EU

Last year, the highest employment rate in the European Union (EU) member states for people aged 20 to 64 years was registered in Sweden, the Netherlands, Denmark and Cyprus, while the lowest – in Malta, Hungary, Italy, Spain and Romania.

Google hopes to outrival Facebook with new social site

Google is making its most ambitious move to beat Facebook in the fast-growing social networking market and maintain a leading position in the Internet industry.

Pope Benedict sends his first Twitter message

On Tuesday, June 28, Pope Benedict XVI published his first entry at the social networking site Twitter, according to the information approved by the Vatican.

Oil surges on hopes of solving the Greek crisis

Brent crude price has neared 109 US dollars a barrel over rising optimism that Greece's economic crisis will be resolved.

Saab gains additional cash from selling Saab Property shares

Saab’s parent company – Swedish Automobile – has signed an agreement on selling 50.1% shares in the real estate company Saab Property for 19.5 million lats (255 million kronor), ensuring the much needed financial resources for the crisis-stricken Swedish carmaker.

Denmark reports the highest, while Bulgaria – the lowest prices in EU

In 2010, the price level differed throughout the EU member states. In Latvia (69%) it was mainly below the average (100%), attaining it only in the clothing industry, according to the EU central statistical office Eurostat data.

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