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Wednesday 23.05.2018 | Name days: Leontīne, Ligija, Lonija, Leokādija

EC gives Latvia access to banking sector funds

The European Commission has authorized Latvia to release the first part of financial resources worth 300 million euro (LVL 210.8 mln) for the banking sector support, informs Jānis Krastiņš, press secretary of the EC Representation in Latvia.

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.

IZZI to invest ten million euro in newest technologies

The telecommunications operator IZZI will invest ten million euro (LVL 7.028 mln) in new service and infrastructure development, as well as in existing network modernization and coverage expansion by 2013.

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.

Parex Bank's employees under threats of physical reprisal

Employees working at JSC Parex Bank, whose current tasks include debt restructuring, recovery and management of seized assets, have been threatened with physical reprisal, revealed Jurijs Adamovičs, member of the bank's board.

New investor emerges for airBaltic

The Latvian airline airBaltic has a potential investor – the UK-based charter company Ocean Sky Aviation Ltd. The Transport Ministry received the offer on Monday, June 27 and it will be reviewed by the Cabinet of Ministers on Tuesday, June 28.

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.

Road builders’ biggest issue – unpredictable prices

Oil and other material prices are the ones most affecting road construction costs in Latvia, while the inability to predict price changes and fluctuations is the biggest issue for road builders, indicates Gints Karols, board member of SIA Saldus ceļinieks.

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.

Japan’s retail drop – smaller than forecast

Although after the earthquake and tsunami wave, people in Japan refrained from excessive spending, retail sales edged down 1.3% in May 2011, which is less than projected, according to the latest government data.

Brent crude drops amongst prevailing Greek crisis

The ongoing European debt crisis is still affecting Brent crude price drop, sliding down to 105 US dollars per barrel on Tuesday, June 28, morning.

Latvian State Forests profit hit 78.32 million lats last year

In 2010, AS Latvian State Forests turnover reached 215.97 million lats, while profit – 78.32 million lats, according to the company's annual report data.

Transport Minister: airBaltic lost 13 million lats in five months

Over the five months of 2011, the Latvian airline airBaltic's losses amounted to 13 million lats, points out Uldis Augulis, the Latvian Transport Minister.