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Construction costs up by 7.3%
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Construction costs in Latvia grew by an average of 0.4% in June this year, compared to May. Worker salary increased by 1.5%, while vehicle and machinery maintenance and exploitation costs increased by 0.2%; prices for construction materials increased by 0.1%.
The total level of construction costs was mostly affected by the increase of expenses in the construction of vehicle facilities, as the data from the Central Statistical Bureau of Latvia states.
Compared with June, 2012, the general level of construction costs is up by 7.3%. Wages and salaries increased by 18.8%; vehicle and equipment maintenance and exploitation costs increased by 13.2%; prices for construction materials increased by 0.2%.
The increase of costs for the construction of vehicle facilities and the costs for the construction of underground pipelines has had the largest impact on the increase of the overall level of construction costs.
Ref: 102.109.109.2290
Latvia's GDP per capita – third lowest in the EU
Latvia's Gross Domestic Product (GDP) per capita was 62% of that of the average level in the European Union (EU) in 2012. It was the third lowest in the bloc of 27 countries.
Latvia's poverty levels drop for the first time in the last four years
May 2013 became the first month in the last four years, when the number of poor people in Latvia dropped below 100 000.
€960 billion deal reached between EU Council and Parliament
Negotiating sides of the EU Council and European Parliament have reached a budget deal that might allow the Parliament to give its formal and final go-ahead to the bock's multiannual budget.
Protesters gather outside of the Saeima building to oppose legalization of bow hunting
On June 20, wildlife protection organizations Animal Freedom and Animal Friend organized a protest act to oppose the legalization of bow hunting. On this day, the Latvian parliament plans to review amendments to the Hunting Law that would allow hunters to use bows and arrows to hunt for animals such as hares, beavers, crows, stray dogs and cats.
Saeima bans the use of USSR and Fascist symbols during public events
It is prohibited to use symbols of USSR and Nazi Germany in Latvia from now on. This includes flags, coats of arms, national anthems and other kinds of symbols. This will apply to public entertainment and festive events.
Saeima conceptually supports pension indexation
On June 20, the Latvian Saeima approved amendments to the State Pensions Law in the first reading.
Asian company stocks sink considerably
The U.S. central bank has announced it might cut its unprecedented bond-buying programme, together with other factors making the value of Asian company stocks drop.
Ernst & Young: euro adoption could increase inflation to 2.4% in Latvia
Euro adoption in Latvia will strengthen the country's national economy. This will contribute to the growth of Latvia's GDP to 4.2% in 2014, followed by 5.2% next year and 5% the year after that.
Saeima Chairwoman: parliament's spring achievement - Double Citizenship Law
According to Saeima Chairwoman Solvita Aboltina, this spring session's greatest achievement is the adoption of the Double Citizenship Law.
Protests in Brazil against world cup spending
Protests in Brazil that were sparked by government plans to increase public-transport fares in order to cover world cup spending, have now grown into a nationwide unrest.
Tukums Airport could start performing commercial flights this year
The Tukums terminal is planned to be finished this July. However, specialists are unable to predict when the general environmental impact assessment process will end, Tukums Airport Business Manager Ilze Lontona says.
Kemeri Sanatorium to be given special territorial status
The Saeima State and Municipal Management Affairs Commission approved amendments to the Law on Kemeri National Park. These amendments provide for changes to the park's territorial status.
Claim against Lembergs in London will continue
Based on the facts presented, the High Court in London concluded that Latvian Shipping Company (LSC) has a case of sufficient strength against Lembergs. Nevertheless, the case was dismissed by the Court of Appeal on a technicality – an issue of jurisdiction.
airBaltic's aircraft participates in the Paris Air Show
airBaltic's newly purchased Bombardier Q400 NextGen aircraft is set up at the world's largest and oldest aircraft exhibition – Paris Air Show.
Turkish Airlines declared the best airline in Europe
During the Paris Air Show, Skytrax airline audit presented Turkish Airlines with the following awards: the Best Airline in Europe, Best Airline in South Europe and Best Business Class Catering Service.
Latvia offers a new deposit option for residents – savings bonds
On Wednesday, June 19, Latvian residents were presented with a new deposit option – savings bonds. The point of this deposit initiative is to offer any resident an opportunity to purchase state bonds and invest money in Latvia.
Latvian Prime Minister to unions: pre-crisis wages were not sustainable
The Latvian Prime Minister is convinced that there is no need to restore wages to pre-crisis level, because pre-crisis wages were not sustainable.
Corruption scandal in Czech politics still growing
Although Prime Minister Pert Nečas will step down, police in the Czech Republic has detained members of the state's political elite. The affair seems to have reached also into the family life of the Czech head of government.
Global coffee prices fall, but not in Latvia
The global coffee prices are falling. Latvia, however, is not experiencing anything of the sort. This is mainly due to the excise tax. Experts believe this situation was made possible because the current supply of coffee in the world exceeds the total demand.
Number of refugees in the world – largest in the last 20 years
The number of refugees and asylum seekers in the worlds is at its peak since 1994. The crisis in Syria plays a large role in this, as stated in the UNHCR report on global forced displacement.
Pay increase in Estonia for second year in a row
The average salary in Estonia has increased for the second consecutive year – 2012 has marked a slight rise by 1.7%.
Saeima expresses concerns over the fate of children adopted by foreigners
Last year, 110 children were adopted in Latvia. 144 children were adopted by foreigners. There are currently 99 potential adopters waiting for approval in Latvia.
G8 leaders agree to tackle tax evasion
Heads of G8 large economies have agreed on measures for preventing illegal tax evasion and money laundering.
G8 leaders agree to stop paying terrorists ransom money for hostages
Leaders of the G8 countries have agreed to abolish the practice of paying terrorists ransom money for hostages, as reported by the British Prime Minister David Cameron.
Company invests 30 000 in a new Melnā coffee brand
Melna kafija (Black coffee) producer has decided to invest LVL 30 000 in the creation of a new brand in order to strengthen its position on the market. The new Melnā coffee brand is called to increase the retail market share in the Baltics and export markets – Russia, Denmark, Finland and Belarus.
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Photos of the week, 2013.06.14Newest comments
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Claude Monet Paintings @ 2013-06-20 12:13:17
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monty @ 2013-06-20 11:03:21
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Piotr @ 2013-06-19 16:35:15
I'm sure all his extravagant lunches and huge travel expenses are "SUSTAINABLE"
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Josh @ 2013-06-19 16:30:45
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Alex @ 2013-06-19 14:31:53
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How is it possible salaries are as low as ever and less and less households can afford the purchase of a home in that heaven Latvia is.
Une citoyenne Lettone de 49 ans habitant eksporta iela 2a appartement n°15 a Riga a trouvé la solution pour acheter son appartement : un homme français de 88 ans qui a décidé d’offrir une prime pour récupérer son argent.