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Tuesday 24.10.2017 | Name days: Renāte, Modrīte, Mudrīte

Regulator approves Latvenergo new tariffs project

The Pyblic Utilities Commission has approved AS Latvenergo new energy tariffs project, envisaging a new procedure of calculating tariffs starting from April 1, according to Latvenergo board member Uldis Bariss.

Republicans propose cutting US budget for 2012

One of the two major contemporary political parties in the United States The Republican Party has submitted a bill proposing 61 billion dollar cuts of the public expenditure in 2012 budget. The Republicans acknowledge it is not possible to balance the budget simply by reducing nonsecurity and nondefense spending.

Marupe Agricultural Centre applies for insolvency

The poultry company Marupe Agricultural Centre has applied for insolvency, mentioning the difficult economic situation as the reason, the Centre’s Board Member Kārlis Krastiņš points out.

Taxi wars also in Liepaja

Taxi companies interests have clashed also in Liepaja, similarly as two years ago in Riga. Local taxi services providers have already divided their territories, which is against the law. Moreover, they do not intend to let their competitors enter them. A fight has brought the conflict to the Court already.

Riga Dairy to focus on Russian market

Riga Dairy (A/S Rīgas piena kombināts) turned 53 million lats last year, surpassing the performance of 2009 by 12 million lats. The company explains this by growing exports, amounting to 22% of the total turnover, Riga Dairy public relations manager Irēna Bērziņa told the business news portal BNN.

Estonian economy grew 3.1% in 2010

Estonian gross domestic product increased 6.6% in the 4th quarter of 2010 compared to the same quarter of the previous year. This means that the GDP for 2010 grew by 3.1% compared to the previous year, according to the flash estimate of Statistics Estonia.

White House: US budget deficit to hit 1.6 trillion dollars

This fiscal year, the US budget deficit will be higher than expected, hitting a record-high sum – 1.6 trillion dollars, or more than one-tenth of the gross domestic product, indicates a statement released by the White House.

Electricity tariffs not to change for 49% of Latvia’s households

After analyzing the data of all households’ consumption in 2010, it was found that the annual electricity consumption is less than 1 200 kWh for 61% of households in Latgale, 51% in Kurzeme, 48% in Zemgale and 46% in Vidzeme; therefore, they will pay for electricity in line with the current electricity tariff.

European Union GDP spikes 0.2% in fourth quarter

Compared to the preceding quarter, the European Union’s gross domestic product rose 0.2% in the fourth quarter of 2010, while in the eurozone – 0.3%, according to the EU central statistical office Eurostat data.

External trade grows 26.4%

The total external trade turnover at current prices formed 10 507.3 million lats last year – 26.4% or 2 195.3 million lats more than in 2009.

President of Lithuania seeks to break heating monopoly

The president of Lithuania Dalia Grybauskaitea has pressed lawmakers to break the monopoly of the heat supply market, simplifying the terms of abuse of a dominant market position as well as increasing penalties.

Foundation: LNG projects in Latvia and Lithuania can be mutually compatible

Projects of liquefied natural gas (LNG) reception terminal with a re-gasification plant can break Gazprom’s monopoly in the three Baltic States and Poland, creating a competitive regional market through supply diversification and mutual interconnection.

Second largest bank of Russia may expand to Estonia

Russia’s second-largest bank VTB in which the Russian state owns 85.5% may become a controlling shareholder in Estonian Credit Bank if its bid to acquire 100% of Bank of Moscow that owns Estonian Credit Bank is successful.

Debt for consumed heat rises by 40 million lats

This year, the debt for the consumed heat in Latvia has amounted to 61 million lats, of which 16 million lats large debt has formed in Riga.