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Tuesday 21.08.2018 | Name days: Linda, Janīna
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BNN summary of the week: Latvia’s problem with old politicians and FinCEN goals

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUBNN offers a summary of this week’s topical news in a variety of categories: Change; Growth; Business; Justice; Opinion; Fight; Future.

CHANGE: Latvian Saeima establishes ban for banks to service shell companies

Banks registered in Latvia will no longer be allowed to work with shell companies and service their accounts. This is provided by amendments to the Law on the Prevention of Money Laundering and Terrorism Financing approved by the Saeima on Thursday, 26 April, as confirmed by the parliament’s press-service.

«Amendments were proposed to prevent the possibility of Latvia’s financial system being used to launder illegally acquired funds. The ban will apply to credit institutions because turnover of shell companies forms a considerable portion of banks’ serviced accounts,» as noted by Finance Ministry.

The ban will also apply to payment processing institutions, electronic money institutions, deposit broker associations and private deposit portfolio management companies.

In accordance with the law, shell companies are ones that cannot prove their economic activities and are registered in countries that do not require submission of financial accounts. Shell companies have one other characteristic – they do not have an actual location where they are supposed to perform their business activities, the Saeima reports.

Full article here

GROWTH: Supreme Court of Justice views Kristovskis’ claim against Ventspils City Council

On 25 April, the Administrative Cases Department of the Supreme Court of Justice will be viewing two claims submitted by Ventspils City Council deputy Ģirts Valdis Kristovskis against the city council. «The fact that the case will be viewed verbally and that the defendants include Ventspils City Council, EPRDM and Association of Local Governments is considered unique and unprecedented in Latvia’s court practice,» says Kristovskis.

As it is known, Kristovskis has turned with a claim to court because he believes the management of Ventspils municipality refused to provide him with requested documents that govern the city council’s work in spite of multiple repeated requests. The city council’s management also refused to publish this information on the official ventspils.lv portal. Because the Environment Protection and Regional Development Ministry refused to evaluate Ventspils City Council’s illegal activities and put an end, this matter has been delegated to the court.

«By accepting the claim and added evidence, the Supreme Court confirmed that it admits there is a lack of an effective rights-protection mechanism for situation when the rights and duties of minority deputies are limited by the majority deputies and management of municipal administrations, as it happens in Ventspils City Council’s case,» says Kristovskis.

Full article here

BUSINESS: Danske Bank to gradually cease servicing Baltic clients

In Baltic States, Danske Bank plans to focus solely on providing support to subsidiaries of Nordic clients, as well as global corporations with a considerable business portion in Nordic countries. Leaving private persons and local businesses servicing sector will be performed in a gradual manner, as reported by acting manager of Danske Bank’s Communication Office in Latvia Zane Strade.

She notes: «This means Danske Bank will cease opening accounts for new local clients. Existing clients will continue receiving services in accordance with signed contracts. All existing loan and deposit contracts will remain in force. Everyday services will continue being provided until further notice.»

At the same time, she adds that the bank will not expand cooperation with those clients. New loans will not be provided and no new service contracts will be provided to them.

Full article here

JUSTICE: FCMC chief says ABLV Bank’s closure was not the goal of FinCEN report

The report published in February by US Department of Treasury’s Financial Crimes Enforcement Network about ABLV Bank was not prepared with the goal in mind to close the bank, said chief of Latvia’s Finance and Capital Market Commission Pēters Putniņš at a public hearing organized by European Parliament’s TAX3 committee in Brussels.

«We do not know why the US government decided to unveil another report […], but it was not compiled with ABLV Bank’s closure in mind. […] FinCEN had assessed relevant risks for the bank’s survival outside the US dollar zone. There was no intention to kill off this bank with any documents – it was the market’s reaction that did it,» said Putniņš, adding that when the report was being released ABLV Bank was working on preventing different uncovered problems.

Full article here

OPINION: Ex-minister says Latvia’s biggest problem is the older generation of politicians

Older generation of politicians is Latvia’s largest problem. Some of those people are due for retirement. This is why the main objective for ‘Kustība Par!’ is involving a new generation of young and perspective politicians, says the party’s leader Daniels Pavļuts.

This year’s Saeima elections, according to him, will not have the usual choice between the left and the right or between conservatives or liberals. He says the «choice will be for a better tomorrow made yesterday».

«We are a modern, young and well-educated people that think about the future. Many of us have children and we think about their and Latvia’s future. People do not think in two or four-year election cycles. We look towards the far future,» Pavļuts says.

According to him, there isn’t a single truly right-wing party in Latvia. «Latvia has had more of an unclear centrist policy over the years. Unity has a very unclear place in the political spectrum. Lately Unity has been experiencing internal stress associated with a desire to attract nationally-thinking voters. This is why the party has performed leans towards national conservatism. I no longer see anything right-wing or centrist left in this party.»

Full article here

FIGHT: «Oligarch talks» publication law put on hold; will fabricated «risks» impact UGF?

On Tuesday, 25 April, Saeima’s Legal Affairs Committee decided against putting up for a vote the legislative draft for the digitization and publication of the declassified portion of materials from the so-called oligarch talks criminal case.

At the same time, the committee decided to ask Justice Ministry’s work group to evaluate and offer solutions that would permit society, including mass media representatives to access materials from the criminal case.

With that, the majority of members of the Legal Affairs Committee decided not to vote on the legislative draft that would have allowed journalists to access materials of the scandalous criminal case and publish them for all to read. The legislative draft was submitted for discussion in the parliament was submitted by Unity’s Saeima faction and Latvian Association of Regions.

Unity faction deputy Andrejs Judins proposed voting on the legislative draft today. The majority of members of the committee, however, did not support his proposal.

Judins wrote on his Twitter account: «The real goal is not ‘slowing it’ – the goal is preventing amendments from being adopted».

He added: «[Gundars] Daudze was visibly nervous during the meeting. He was worried publication of oligarch talks could affect the election process. He is well aware that if truth comes to light, UGF’s image would suffer.»

Full article here

FUTURE: Norway interested in developing cooperation with Latvia in tourism industry

«Latvia welcomes successful regional and economic cooperation with Norway. Our countries have common values and goals – developing Baltic and Nordic countries as a wealthy and secure European region,» said Latvia’s Economy Minister Arvils Ašeradens during his meeting with Norwegian State Secretary for Trade, Industry and Fisheries Roy Angelvik.

During this meeting, Latvia’s minister and his Norwegian colleague discussed mutual economic cooperation matters, as well as opportunities for expanded cooperation, as BNN was informed by Economy Ministry.

Angelvik and Ašeradens both said that their countries find it important to develop cooperation in start-up and innovations industry. At the same time, the two sides mentioned they are interested in developing cooperation in education by creating study programmes and student exchange events.

Ašeradens also said he is satisfied with the level of cooperation between Latvia and Norway on a regional level, adding that it is necessary to aim towards tighter regional integration of Baltic and Nordic States, especially in the field of energy, innovation, construction and green technologies. At the same time, the minister voiced satisfaction for Norway’s contribution to increasing security in the Baltic Region, the ministry notes.

Full article here


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Ilves urges Estonians be active in maintaining their freedom

On the anniversary of the restoration of Estonian independence on August 20, 1991, former Estonian President Toomas Hendrik Ilves has warned that freedom can be lost quietly if it is seen as a state of being that does not require action.

Police wages in Estonia raised by cutting number of jobs

Less police officers are visible on the streets in Estonia as the country's Police and Border Guard has conducted a reduction of the number of position to increase wages of patrolling officers, thus working on a more motivated force since 2015.

UK urges EU to broaden sanctions against Russia

The UK calls for coordinated, broader sanctions against Russia from the European Union and the U.S. whenever Russia violates international rules.

Ukrainian film director's hunger strike in prison continues for 100 days

Ukrainian film director Oleg Sentsov has been holding a hunger strike for 100 days in a prison in the Russian Arctic having been sentenced for terrorism against Russian occupation authorities in Crimea.

Greece ends receiving loans as part of its huge bailout programme

Greece arrived at the end of its financial borrowing programme from international lenders on Monday, emerging from the country's and eurozone's most difficult times in recent history.

Unemployment in Estonia at lowest level since 2008

The unemployment rate in Estonia was 5,1% in the second quarter of 2018, which is the lowest level in the last ten years, Estonian statisticians have estimated.

Tens of thousands sing to mark Estonia's restoration of independence

52,772 people have joined a singing event to mark the anniversary of the restoration of Estonian independence, with the majority of the singers singing along on the internet.

India hit by devastating floods

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Week in Lithuania. Probe finds no «drastic» EU differences in prices of non-food goods

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BNN summary of the week: SRS searches for spotless reputation; MPC talks continue

BNN offers a summary of this week’s topical news in a variety of categories: Progress; Change; Contest; Announcement; Future; Politicians.

Eurostat: Latvia had inflation rate higher than average in EU and Eurozone

In July, Latvia’s inflation rate was higher than the average in Europe and Eurozone, according to data published by Eurostat.

Presence of Latvian milk reduces, whereas presence of imported milk increases in Latvia

The proportion of milk produced in Latvia is starting to lose to imported milk, as concluded by Central Union of Latvian Dairy Farmers chairman Jānis Šolks.

Seven previously convicted candidates crossed from Saeima election lists

On Friday, 17 August, the Central Election Commission decided to cross out seven previously convicted deputy candidates. The decision regarding one more candidate has been postponed until the next meeting, as confirmed by the commission.

Aspiring prosecutors «drop out» in tests – half of contenders fail second stage of tests

Approximately half of aspiring prosecutor candidates has failed the second portion of tests for general and judicial knowledge.

Riga International Airport concludes first half-year with turnover increase of 13%

Riga International Airport concluded the first half-year of 2018 with turnover increase of 13% when compared to the same period of 2017, according to the airport’s unaudited and shortened account for the six-month period before 30 June 2018.

New tender announced for post of SRS director; first requirement – spotless reputation

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CEC to decide on four candidates’ possible relation to KGB

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Concord will have to include bread distribution costs in kebab café in its pre-election expenditures

Political party Concord will have to include in its 13th Saeima pre-election campaign expenditures the money spent by one of its candidates on distributing bread to pensioners free of charge in a kebab café in Bolderāja, as reported by TV3 news.

Weekends expected to be warm and at times hot in Latvia

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Latvia’s State Audit requests additional funding to invest in workers

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Nearly half of children born in Latvia in 2017 were delivered by mothers with higher education

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«Steel Magnolia» named Lithuania's most influential politician for fourth consecutive year

Lithuanian President Dalia Grybauskaitė, dubbed as «Steel Magnolia» by foreign press, remains the most influential politician in the country for the fourth consecutive year. In two separate polls, one by the popular ratings magazine Reitingai and the other by pollster Spinter Tyrimai, she appeared on top, being followed by Saulius Skvernelis, Prime Minister, Ramūnas Karbauskis, the leader of the ruling Lithuanian Farmers and Greens Union (LFGU), Valdas Adamkus, ex-president, and Vytautas Landsbergis, Lithuania's first post-independence leader.

Ex-director: Rundale Castle Museum should be managed with the same ideals as before

In the years to come Rundale Castle Museum should be managed with the same ideals as before, says the soon ex-director of the museum Imants Lancmanis, who intends to retire at the end of this year.

Star Rating determines the best schools in Latvia

According to the 2018 Star Rating, Riga State Gymnasium No.1 remains in the lead among Latvia’s schools. Daugavpils Russian Secondary School – Lyceum is second, and Riga State Gymnasium No.2 is third.

ABLV Bank assets worth EUR 21.052 million were recovered in July

Liquidators of ABLV Bank have recovered assets worth EUR 21.052 million in July. This includes EUR 11.602 million recovered from issued loans, EUR 7.644 million from recovered/sold securities, EUR 1,792 million from loans provided to credit institutions, and EUR 14,000 from sales of real estate and other types of property, according to the account published in Latvian Herald.

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