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Sunday 18.08.2019 | Name days: Liene, Helēna, Elena, Ellena, Liena

Unemployment index in Latvia drops – rate down to 6.4% in Q2

In Q2 2019 Latvian unemployment rate constituted 6.4 %. Compared to the previous quarter, unemployment rate fell by 0.5 percentage points, and compared to the rate recorded a year ago, it dropped by 1.3 percentage points.

Volume of insurance claims paid in first six months reaches 196 million euros

In the first half-year of 2019, insurers in Latvia paid to their clients a total of EUR 195.6 million in the form of insurance claims, which is one-third below last year’s amount.

Latvia’s foreign trade turnover declines 10.3% in June

In June 2019 foreign trade turnover of Latvia amounted to EUR 2.19 billion at current prices constituting 10.3 % less than a year before, of which exports value of goods fell by 8.2 % and imports value of goods by 11.9 %.

Bye bye, Barclays! What (if anything) went wrong?

You know how it is: companies come and go, but the exiting of Britain’s Barclays from Vilnius is bitter both to the Lithuanian capital and the entire Lithuanian business community. Opened in 2010, in the midst of 2008 economic downturn, it had over 1 100 employees.

Cross-border trade between Latvia and Estonia declines

Estonia’s Finance Minister Martin Helme has announced that excise tax revenue from the first month after the rate’s reduction has increased 40% when compared to July 2018, whereas cross-border trade with Latvia has reduced.

Disorderly Brexit expected to bring food shortages to UK, manufacturers say

Britain leaving the European Union without a deal is expected to bring supply disruption that would continue for weeks or months, according to the United Kingdom’s food manufacturers.

Publishers want 5% VAT for books; ministry’s estimates are exaggerated

Reduction of VAT on books to 5% will leave only a slight impact on the state budget, but at the same time it will help stabilize the industry, said Latvian Publishers Association board chairperson Renāte Punka in an interview to Latvijas Radio on Thursday, 8 August.

Procurement announced for Rail Baltica Salaspils freight handling terminal project

SIA European Railway Lines has announced a procurement for Rail Baltica freight handling terminal project in Salaspils, as confirmed by Transport Ministry.

LTA: alcohol prices in Latvia have yet to decline and there is a reason for this

Although the excise tax on alcohol was reduced by 15% on 1 August, prices have yet to drop. This is because it is necessary to sell alcoholic drinks that were procured with the previous excise tax.

Economists: industrial growth is slowing down. Should people brace for drop?

Looking at the latest industrial output indexes, opinions of various economists tend to lack optimism. Some of them expect negative indexes in the coming months, while some already mention the word recession.

U.S.-China trade tensions rise after Beijing called currency manipulator

Washington has called Beijing a currency manipulator increasing the stark trade tensions between the U.S. and China.

Industrial production output continues increasing in Latvia

Calendar adjusted data at constant prices shows that when compared to June 2018, industrial production output grew by 4.4 % in June 2019.

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