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Friday 20.07.2018 | Name days: Ramona, Ritma

Barometer: knowledge and competence are what is most important in business

When asked to describe factors that contribute or impede sustainable business development, respondents mentioned that businessmen’s knowledge and competence are two of the most significant contributing factors, whereas high taxes are usually what holds back development, according to data from the latest Latvian Barometer Study by Baltic International Bank.

Volume of foreign deposits in Latvian banks down to a quarter

The volume of foreign deposits in Latvian banks, including ABLV Bank in the middle of its liquidation, declined to 28.7% in June when compared to 39.7% at the end of 2017, according to the latest information from the Finance and Capital Market Commission.

152 soldiers from Slovakia join NATO combat group in Latvia

In response to the decision made during the 2016 NATO summit in Warsaw on the formation of a multi-national battalion-level combat group in Baltic States and Poland, 152 soldiers and several types of armoured vehicles from Slovakia have arrived in Latvia, as confirmed by Defence Ministry.

Latgale party allows members pick candidate lists for elections

The board of Latgale party has decided to allow its members to pick candidate lists in which they will start in upcoming 13th Saeima elections, as confirmed by the party’s chairman Aldis Adamovičs.

Five people detained for dishonest Eastern state border procurements

Latvia’s Interior Affairs Ministry and Internal Security Bureau have detained five people under suspicion of illegal activities in public procurements – two State Border Guard officials and three private persons, as confirmed by Internal Security Bureau chief’s assistant Diāna Petersa.

SEA invites employers to apply for employee training

Latvia’s State Employment Agency continues accepting applications from employers for training of necessary employees as part of European Social Fund’s project Workplace training.

New Unity reportedly suffered biggest rating decline in June

Among political parties in Latvia, the largest rating growth was experienced by Harmony in June, whereas the largest rating decline was suffered by New Unity, according to results of a survey by SKDS.

Base capital of two New Hanza Capital Group companies is reduced

On 27 June, base capital reduction was registered in the Enterprise Register for two ABLV Bank Group’s investments in commercial property in New Hanza Capital Group companies – SIA NHC 1 and SIA NHC 3, as detailed in New Hanza Capital statement to Nasdaq Riga.

Unemployment level in Latvia was higher than EU’s average in May

In May 2018, unemployment in Latvia was 7.4%, which is higher than the average level in the European Union, according to data for 24 member states published by Eurostat.

PHOTO: Lampa festival gathers record-large number of visitors

The fourth Lampa festival has passed with active discussions and exciting events. This year’s number of participants was record-large this year – more than 16,000 people visited Cesis on Friday and Saturday. Another 47,000 observed the festival through online streaming, as reported by Lampa festival’s coordinator Irīna Kuzņecova.

Norvik Banka adopts Google Authenticator for internet banking services

From July 2018 onward, Norvik Bank will be using a new authorization tool for internet banking services – Google Authenticator, as confirmed by the bank.

Survey: secondary school students less serious about formal education than their parents

Although travel, work and information education as a means to build up one’s personality and acquire experience is becoming more popular among youngsters in Latvia, 80% of parents with children aged 15 to 19 would rather their children continue education after graduating from secondary school.

Court decides to keep in place restriction for Communist activists to take part in Saeima elections

Latvia’s Constitutional Court has concluded that the section of the Law on Saeima Elections that prohibits people who worked in certain Soviet organizations after 13 January 1991 from participating in elections compliant with the country’s Constitution, as reported by the court’s representative Ketija Strazda.

Riga City Council plans to sign 20-year contract with a single waste management company

Riga municipality plans to announce a tender, as part of which it is planned to sign a 20-year conract with a single waste management company in Riga, as confirmed by Riga City Council Housing and Environment Department’s Environment Office chief Evija Piņķe.

Retail trade turnover in Latvia up 7% in May

Compared to May 2017, total retail trade turnover rose by 7 % in May 2018. Turnover of retail trade in food products increased by 6.5 %, whereas turnover of retail trade in non-food products and retail sale of automotive fuel rose by 7.3 %.

Fire at BAO landfill for dangerous waste; fire fighters still on the scene

A fire started on the territory of AS BAO landfill for dangerous waste in Olaine last night. Latest reports state it has since been localized, as confirmed by State Fire and Rescue Service representative Inta Palkavniece.

Study: nearly half of residents create savings in cash form

Nearly half of Latvia’s residents (42.3%) create savings in the form of cash. 17.4% of residents use bank accounts for savings, according to a study performed by Ferratum Bank about saving habits of Latvian residents.

Most of non-resident banks will continue working in Latvia

The majority of banks whose business activities are associated with servicing non-residents will continue working in Latvia, as confirmed by Finance and Capital Market Commission Pēters Putniņš in an interview to Latvijas Radio on Friday, 29 June.