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Wednesday 20.03.2019 | Name days: Made, Irbe

Business Index: 56.7% of businessmen in Latvia believe government hurt businesses

When asked about the influence Latvia’s government has on the country’s entrepreneurship, 56.6% of interviewed businessmen said the government interferes with the sector, whereas only 7.3% said the government provides assistance, according to results of Turība University’s Business Index.

Rigvir medication distribution in Latvia halted temporarily

Bio-technology company Rigvir has decided to halt distribution of Rigvir medication in Latvia temporarily, as confirmed by Rigvir Group CEO Kristīne Jučkoviča.

Swedbank: more than 1,400 Latvian families purchased property in regions last year

In 2018, Swedbank had issued more than 1,400 loans for property purchases within 50 km radius around Riga. This is an average of six loans issued every work day, as reported by Swedbank representative Jānis Krops.

Week in Lithuania. N-plant invites bids for repository construction contract

Lithuania's Ignalina Nuclear Power Plant, which was shut down a decade ago and is now being decommissioned, invited bids for the construction of a 100-million-euro near surface repository for low and intermediate level short-lived radioactive waste.

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

In February 2019, Latvia’s inflation was higher than the average in European Union and Eurozone, according to data published by Eurostat on Friday, 15 March.

ABLV Bank’s liquidators recover assets worth EUR 37.938 million in February

In February 2019, liquidators of ABLV Bank had successfully recovered assets worth EUR 37.938 million, which is 21% less than a month prior, according to the annual account published in Latvian Herald.

More than one-third of Latvian households paid for utilities with difficulty last year

In 2018 the share of households making ends meet with difficulty or great difficulty constituted 35.7 %, which is 7.9 percentage points more than in 2017.

Latvian Saeima committee supports changes to overtime pay

Saeima’s Social and Employment Matters Committee supported in the final reading amendments to the Labour Law, providing for paying 50% for overtime work if a general agreement on wages is signed in the industry.

Eesti Energia increases its renewables share in Enefit Green

Estonian state energy giant Eesti Energia, primarily an electricity producer from fossil oil shale, has considerably increased its renewable energy production in the subsidiary Enefit Green.

Rail Baltica’s high-speed trains will course once every two hours

It is planned that Rail Baltica high-speed trains will course once every two hours, according to Rail Baltica representative Līva Biseniece.

Latvia’s foreign trade turnover down 0.1% when compared to previous year

In January 2019, the foreign trade turnover of Latvia amounted to EUR 2.07 billion, which at current prices was 0.1 % less than a year ago, of which the exports value of goods was 0.6 % lower, but imports value of goods was 0.3 % higher.

Latvian PNB Banka to be supervised by European Central Bank from now on

Following a proposal from Latvia’s Finance and Capital Market Commission, European Central Bank has decided to take over supervision of PNB Banka, as confirmed by FCMC.

Week in Lithuania. Georgia, Lithuania to cooperate in cyber security

Lithuania and Georgia plan to cooperate in the area of cyber security by sharing experience and exchanging information about threats and incidents.

Data: women are paid 10% smaller wages than men in the same jobs

Men in Latvia earn 10% than women in the same jobs, according to data from Paylab, which works in Latvia together with CV-Online database Algas.lv, studying long-term wage trends.

LMT to take part in EU cyber-security strategy development project

Latvijas Mobilais Telefons has become a partner in SPARTA – European Union’s cyber-security enhancement project that includes 44 partners from 14 countries, as confirmed by LMT representative Elīna Lidere.

Association: number of non-contact payment cards has increased 91% last year

Over the course of the years, the number of non-contact payment cards in Latvia has increased 91% in 2018 when compared to Q4 2017, according to data from the Finance Industry Association.

Taxify changes brand name to Bolt

Travel platform Taxify has changed its name to Bolt. Additionally, the platform also has a new logo. Changes help move the logo closer towards the company’s vision for the transport sector in general, says the company’s representative Kristīne Šeiko.