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Monday 16.09.2019 | Name days: Dārgs, Asja, Asnate, Dāgs

Europe’s electricity network will help increase energy exchange opportunities

After Baltic States’ joining of the European Electricity Network, there will be an increase for opportunities in energy exchange and trade, says AS Augstsprieguma tīkls board member Varis Boks.

Global oil prices jump after attacks on Saudi Arabia

Oil prices in the world have jumped to the highest level in four months as oil facilities in Saudi Arabia suffered two attacks over the weekend.

Lithuanian shops using increase in wages to raise prices, analyst asserts

In Lithuania, inflation has been two times faster in 2019 compared to other markets in the euro area. Economist Žygimantas Mauricas believes retailers have used a surge in wages to increase prices, especially in grocery stores.

Latvian court declares PNB Bank insolvent

Riga City Vidzeme Suburb Court has declared PNB Bank insolvent, as confirmed by Finance and Capital Market Commission. Vigo Krastiņš has been approved as the bank’s insolvency administrator.

Lithuania warns about end in rapid wage growth

«The summer will not last forever,» said Lithuanian Finance Minister Vilius Šapoka about a summary of official economic forecasts, which warn that after a fairly rapid growth, national economy and wages would grow at a somewhat slower pace.

Saeima committee to discuss FCMC’s addition to Bank of Latvia

On Wednesday, 11 September, Saeima’s Budget and Finance Committee gave Finance Ministry time until autumn 2020 to evaluate the option of adding Finance and Capital Market Commission to the Bank of Latvia.

Business park to be established in Carnikava; land to be auctioned off in October

Carnikava municipality plans to establish a business and innovations part Mežgarciems. The municipality plans to hold an auction of rights to procure land for the new business part in the beginning of October, as confirmed by the park’s representatives.

Latvian government fails to declare state of emergency in Riga

Even after reports from Justice Ministry, State Chancellery and other involved sides, Latvia’s Cabinet of Ministers has failed to reach an agreement on the declaration of a state of emergency in Riga’s waste management sector.

Estonian trade deficit widens as imports up in face of shrinking exports

The import of goods to Estonia has in July increased by five percent as compared to the trade data of July 2018, leading to a significant widening of the country’s trade deficit, Estonian official statistics showed.

Environment ministry prepares to resolve Riga’s waste management matter

Environment Protection and Regional Development Ministry is hard at work developing a solution for residents to redo their waste management contracts so that it is possible to move waste in Riga on 15 September, said Environment Protection and Regional Development Minister Juris Pūce.

Rīgas satiksme’s tear in state budget to be covered using residents’ money

The negative effect public transport company SIA Rīgas satiksme has had on the state budget’s fiscal space is planned to be compensated by the government by dividing the PIT payments to Riga City Council, according to Finance Ministry’s report on fiscal space activities and priorities for expenses in 2020 and contents for 2020-2022.

Mayor Oļegs Burovs takes charge over Riga Freeport

Riga’s Mayor Oļegs Burovs has been appointed as the new chairman of the board of Riga Freeport, as BNN was told by the freeport’s representatives.