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Tuesday 11.12.2018 | Name days: Valdis, Voldemārs, Valdemārs

Wind energy production output doubled in Latvia

In September and October 2018, wind power plants in Latvia had doubled their yield of electricity for the country’s total balance when compared to the previous four months, according to information compiled by AS Augstsprieguma tīkls.

EY: biggest threats to businesses – new business models and shortage of workers

31% of businessmen consider influence of new business model and the ongoing shortage of workers as the main short-term threats to their business. Other major risks include geopolitical and legislative uncertainty, which are considered the main threats by 29% of respondents participating in EY latest Global Capital Confidence Barometer.

Week in Lithuania. PM expects EU commission's approval for food vouchers

Lithuanian Prime Minister Saulius Skvernelis says there should be no problem obtaining the European Commission's approval for a food voucher system that was approved by the government on Wednesday, November 21. The plan is to allocate food coupons to families with preschool-age children at the initial stage of the scheme.

Criminal prosecution requested for Bior employee for defrauding money from the state

Corruption Prevention and Combating Bureau has asked the prosecutor’s office to commence prosecution of a Bior institute employees and two Lithuanian citizens for defrauding EUR 832,418 from the state budget using glass eel procurement, according to information from CPCB.

Old Latvian government leaves new one budget plan accepted by EC

European Commission has coordinated Latvia’s 2019 budget plan, adding that it generally fits requirements of the Stability and Growth Pact. However, the old government in Latvia is not able to push it forward. This is why it has been decided to wait for the formation of a new government in Latvia to resolve problems.

Latvian authorities detain CityCommerce Bank co-owner accused of embezzlement

Reinis Tumovs, co-owner of Ukrainian CityCommerce Bank, has been detained in Latvia. He is suspected of embezzling nearly UAH 300 million (EUR 9.5 million), as confirmed by Ukrainian National Police Economy Protection Department on Thursday, 15 November.

EC wants to reduce funding for supplies of fruits, vegetables and milk to schools

European Commission’s proposed regulation on organization of agriculture products market provides for reducing EU funding for the support programme on provision of fruits, vegetables and milk for schools by EUR 29.2 million or the same as United Kingdom’s share.

Unemployment level in Latvia was 7% in Q3 2018

In Q3 2018 Latvian unemployment rate constituted 7.0 %. Compared to the previous quarter, unemployment rate fell by 0.7 percentage points, while over the year by 1.5 percentage points.

Germany economy shrinks for first time in three years

Germany economy has contracted by 0.2% in the third quarter of 2018, a first such result in the largest economy of the European Union in over three years.

EP’s approved EUR 17.7 million to be invested in melioration infrastructure restoration

Allocation of support finances of EUR 17.7 million has been approved by the European Parliament for Latvia to cover losses from floods of summer and autumn 2017. This funding will be used to restore important infrastructure, such as water redirection system and damaged culverts, Agriculture Ministry reports.

Finnish guests in Estonia at lowest numbers since 2008

The traditional cornerstone of Estonian tourism industry, guests from Finland, have in the third quarter of 2018 showed less interest in the Baltic country with their numbers dropping to a 10-year low.

Rīgas satiksme’s debts come close to 300 million; Ušakovs says company is doing well

Riga City Council has voted in favour of allocating an additional grant of EUR 22 million to Rīgas satiksme. This means this year the company has cost the city EUR 123 million, reminds Nekā personīga.

Week in Lithuania. Conservatives pick Simonyte as presidential candidate

Lithuania's opposition conservative Homeland Union – Lithuanian Christian Democrats has picked MP and former Finance Minister Ingrida Simonyte as the party's presidential candidate in a primary election held last weekend.