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Tuesday 26.09.2017 | Name days: Kurts, Knuts, Gundars

Volvo and Siemens to jointly conquer electric car market

The Swedish carmaker Volvo Cars has teamed up with the German industrial company Siemens to develop technology for new electric cars, representatives of both companies announced on Wednesday, August 31.

Eurozone August inflation - 2.5%

Annual eurozone inflation could hit 2.5% in August 2011, according to Eurostat flash estimate.

Job applicants not showing up to job interviews again

Currently, the average job seeker is a middle-age woman or a man, with years of work experience, Latvian and Russian language skills and often without higher education, Aivis Brodins, head of CV-Online Business Development, told business news portal BNN.

EU’s unemployment rate hits 9.5% in July, with Latvia reporting the second highest rate

In July 2011, the unemployment rate in the EU hit 9.5%, remaining stable compared to June. Similarly, the eurozone’s unemployment rate stood at 10% month-on-month, according to Eurostat.

Nordea: some countries might face re-recession

The global economic growth is slowing down – many developed countries report sluggish growth rates, not yet reaching the pre-crisis levels. While, the economic growth in such countries as China, India, Russia and Brazil is rapid, says Andris Strazds, economist at Nordea.

Average remuneration in Latvia – 469 lats

In the second quarter of 2011, the average monthly gross pay in Latvia was 469 lats. It is 24 lats or 5.5% more, compared to the same period in 2010.

Brent hovers around 114 dollars

On Wednesday, August 31, Brent crude settled at 114 U.S. dollars, after having risen for six days. This is tied to expectations that the U.S. government will promote the economic growth and increase demand for oil.

Chezk Republic refuses to join euro

Chezk Republic has announced it is not planning to join the eurozone. Petr Necas, Chezk Republic Prime Minister, says they had agreed to join a single currency block, not a block of debts.

BGF.BV: Latvian tax system - its sore point in the eyes of investors

It is exactly the Latvian tax system that troubles investments attraction, thus also slowing down business development, Artis Davidnieks, representative of the Dutch investment company BGF.BV told the business news portal BNN. BGF.BV launched its activities in Latvia in August, 2011, with an aim to invest up to 50 million lats in prospective Latvian and Baltic businesses.

High prices following demand

Although food raw materials have gained throughout the whole world, the global demand is keeping prices high. Consequently, prices of most food products will not drop in Latvia, with an exception of root vegetables, including potatoes, buckwheat and sugar.

54% of residents see no changes in corruption

More than a half (54%) of the economically-active population believe corruption has remained the same over the last year, according to a survey conducted by TNS Latvia and 900 sekundes.

airBaltic takeover may cost Latvia 170 million lats

If the government decides to take over the Latvian national airline airBaltic, it might require about 170 million lats from the state budget.

SEB: debt burden slows down global economy

Sluggish U.S. economic performance and growing uncertainty over the debt situation as well as insufficient decisiveness of American and eurozone policy makers drag down stock markets and trigger turmoils on financial markets, says Dainis Gaspuitis, SEB bank economist.

Escheat function passed on to sworn bailiffs

The Cabinet of Ministers has approved the Finance Ministry’s prepared Bill package stipulating the function of escheat or transfer of property ownership without a will or heirs, discharging creditors' claims and passing on to sworn bailiffs the responsibility of transferring the remaining funds to the state budget.

Indian GDP growth drops to 7.7%

India's economy expanded 7.7% in the three months from April to June, if comparing with the same period a year earlier.

Job seekers ask for more

Job seekers now ask their employers to name clear duties, responsibilities and tasks. They also assess adequacy of the remuneration level more thoroughly, says Aivis Brodins, CV-Online representative.

Citadele: businessmen’s sentiment – cautiously optimistic

Latvian businessmen’s sentiment keeps improving gradually and can be characterized as cautiously optimistic, similarly as before the previous parliamentary elections.

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