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Saturday 18.08.2018 | Name days: Liene, Helēna, Elena, Ellena, Liena

End of the week in Latvia to be windy and cold; weekends expected to be warm

From 6 April onward wind speed in Latvia will increase considerably, reaching 15-17 m/sec. Wind speed may reach 20-23 m/sec in the afternoon. Wind speed will be at its highest in southern parts of Kurzeme. Wind speed is expected to decline on the night to Saturday, as reported by State Environment, Geology and Meteorology Centre.

Medicine wholesale traders’ realization volumes declined in February

Medicine wholesale traders in Latvia realized 2.8% products less in February 2018 than they did in February 2017 and 7.1% less than they did in January. 3.87 million medicine packages worth EUR 31.16 million were sold in February. 3.49 million medicine packages worth EUR 27.35 million were sold to pharmacies, according to data from State Agency of Medicines.

Corruption watchdog performs searches at Latvian State Roads

Corruption Prevention and Combating Bureau has performed searches at Latvian State Roads, as confirmed by the company’s representatives.

Latvia's Competition Council predicts increase of competition in retail trade

Competition Council expects concentration to continue in non-specialized retail trade sector. This may increase mutual competition among companies working in this sector. At the same time, CC mentions that this particular sector lacks any particularly strong players, which only serves to increase competition pressure on the two largest existing non-specialized retailers.

Citadele: loan and tax debts are the most common obstacles for provision of funding

45% of businessmen should consider improving their credit rating. This is because provision of new funding for them is currently either limited or impossible, according to data compiled by Citadele Bank on creditworthiness of small and medium-sized companies.

LTV disagrees with national media council over use of Sputnik photos

LTV does not agree with the opinion detailed in an official letter from National Electronic Mass Media Council regarding the use of photos from Sputnik news agency by media portal and how this would be in breach of Electronic Mass Media Law.

Citadele Index: businessmen are looking towards the future with optimism

Generally businessmen look towards the future with optimism, as stated in the latest Citadele Index study. It is expected that Latvia’s economy will continue growing in 2018. Citadele Bank’s experts believe the current economic situation is stable and represents a good time for investments.

All banks in Latvia want to continue working in the financial sector

All the banks working in Latvia have proven their desire to continue working in the country’s financial sector, says manager of Finance and Capital Market Commission’s Communication Department Ieva Upleja.

Employees: three to five years is the most one should stick with one job

According to employees, the longest period of time a person should stick with one job is three to five years, as concluded in a survey performed by CV-Online Latvia using database.

Economists: processing industry doing well, while food industry needs more ambitions

Latvia’s industrial sector was one of the most rapidly growing sectors in the country in the last six months. Current trends suggest that Latvia’s processing industry may experience good growth in 2018, says Citadele Bank’s economist Mārtiņš Āboliņš.

Companies to calculate state-invested capital return goals from now on

Latvia’s Cabinet of Ministers has decided to support Cross-Sectoral Coordination Centre’s proposal to establish an appropriate state-invested capital return mechanism for every state enterprise, as well as include research and development projects in their medium-term strategies.

Prime minister: Russia’s planned missile tests above Baltic Sea present no threats

The plans of Russian navy forces to perform missile tests above Latvia’s exclusive economic zone in the Baltic Sea present no threats to security. Latvia and its NATO allies will observe this military exercise said Latvia’s Prime Minister Māris Kučinskis.

Saeima deputy Lolita Čigāne decides to leave «Kustība Par!» political party

Saeima deputy Lolita Čigāne has confirmed her decision to leave ‘Kustību Par!’ political party. The politician has not yet made a decision to participate in the upcoming Saeima elections.

Latvia second country in the world in terms of mobile internet use

Latvia is considered second country in the world in regards to mobile internet use indexes with an average of 8.2 GB a month, according to OECD’s 2017 report Digital Economy Outlook. Finnish residents are the most active users of mobile internet services. Austria is third and Sweden is fourth. The TOP 5 list ends with Denmark.

Barometer: resident say there is a lack of interesting activities in Latvia

67% of Latvia’s residents have attended different cultural activities in the past year. Most often residents attended theatrical performances and different cultural events, according to results from Baltic International Bank’s latest Latvian Barometer.

Estonia: Russian missile tests in Baltic Sea no cause for special concern

As Russia plans to hold missile tests in the Baltic Sea, close to the border of Latvia, between April 4 and 6, Estonian Defence Ministry has commented that the tests will be monitored, but are not a source to particular concern.

President announces amendments for gradual transition to education in Latvian language

President of Latvia Raimonds Vējonis has announced amendments to Education Law and General Education Law. These amendments provide for a gradual transition to education only in Latvian language.

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