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Friday 13.12.2019 | Name days: Veldze, Lūcija

Proposal to abandon state funding in university budgets

Latvia Strategic Analysis Committee (SAC), in charge of drafting an alternative perspective on the necessary changes in higher education, is likely to propose removing state-funded study places at Latvia's universities, said the SAC Chairman Roberts Kilis.

Riga City Council to decide on granting land for Dinamo Riga sports facility

Riga City Council’s Investment and Business Promotion Council is to review AS Dinamo Riga's request on land allocation for sports facility construction on Thursday, March 31.

Economists: retail grows despite low consumption

Despite stagnation, low purchasing power of Latvia population and cautious spending, retail trade total turnover is gradually surging, Latvian economists say, forecasting people will soon have more money to spend.

Swedbank recognized best bank in Latvia

The international periodical Global Finance has named the best banks in the Central and Eastern Europe in 2011, acknowledging Swedbank as the best bank in Latvia. The criteria for choosing the winner included asset growth, profitability, strategic relations, customer service, competitive pricing and innovative products.

29% consider 3rd Tier crucial for decent pension

About one third of Latvia population aged 25 to 45 attribute great importance to the 3rd Tier of pensions contributions in receiving a sufficient old-age pension. 29% of Latvia population say 3rd Tier pension contributions are very important or rather important.

Winter destroyed roads damage cars

Spring thaw also brings an increasing number of insurance claims on cars damaged by holes in winter destroyed roads.

GE Money loss in 2010 – 19 522 lats

AS GE Money Bank concluded 2010 with losses of 19 522 lats, while the company’s operational loss before tax amounted to 10 404 lats, according to the bank’s 2010 annual financial report.

Insolvency Law amendments not intended

Although a number of required corrections have been found in the Insolvency Law’s new wording, which came into force on November 1, 2010, neither the Justice Ministry, nor the Insolvency Administration have drafted the particular law amendments.

Benefit restrictions in force until late 2014

The government has agreed on retaining the restriction on sickness, maternity, paternity, parental and unemployment benefits until December 31, 2014, stipulated by the government’s approved amendments on March 29.

Rietumu Banka profit last year – 3.2 million lats

In 2010, Rietumu Banka's net profit was 3.2 million lats, while Rietumu Group’s profit – 6.8 million. lats.

Government approves excise tax rise to cigarettes, gasoline and alcohol

Today, March 29, the government of Latvia approved increasing excise tax rate to cigarettes, strong spirits and gasoline. The increased excise will come into force starting from July 1, 2011.

Deposit yield four times lower in year and a half time

Within year and a half, deposit yield at the Latvian banks has overall dropped 3.5 to four times, but in the last six months – almost two times. While the interest rates of 12-month deposits in lats currently form only 3.5%, after accounting for 5.5% to 6% last November.

Estonian start-ups aim at USA

Several Estonian start-up businesses hope to repeat the success story of the famous technologies company Skype by trying to attract American investors interest.

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