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Ceturtdiena 17.10.2019 | Name days: Karīna, Gaits

Swedbank: Estonian branch needs to investigate money laundering scandal

Chairman of Swedish Swedbank council Göran Persson stressed during his visit to Estonia that the bank needs to determine the reasons behind problems so that it is possible to leave the scandal with money laundering and the stain on the bank’s reputation in the past.

Latvia and Belarus to cooperate in protection of consumer rights

Latvian Economy Ministry’s state secretary Ēriks Eglītis and Republic of Belarus Anti-Monopoly Regulation and Trade Minister’s deputy Andrey Kartun have signed a memorandum on cooperation in protection of consumers’ rights, market supervision and competition policy, as reported by the ministry.

Latvia’s industrial production output up 2% in August

Compared to August 2018, industrial production output1 increased by 2 % in August 2019 according to calendar adjusted data at constant prices.

London’s Brexit proposals suggest leaving Northern Ireland in EU market, not in customs union

To solve the Brexit impasse, by setting forth in the European Union withdrawal agreement that Northern Ireland leaves the bloc’s customs union, while remaining in its single market, such are the proposals submitted by the UK government to the EU.

Construction sector’s illness: 51% of companies are aware of unofficial payments

Cartels are not a sudden appearance in Latvia, it is a phenomenon that has been swept under the rug for a long time, as experts explained at the «Competition in business: influence of cartels, lobbyist activity and black PR» discussion organized by Turība University.

Informal talks commence about Bank of Latvia governor’s possible successor

Political parties in Latvia have started discussing possible candidates to replace Ilmārs Rimšēvičs as the next governor of the Bank of Latvia, considering his term runs out 21 December 2019. However, parties are reluctant to make these discussions public, as reported by newspaper Latvijas Avīze.

Construction State Control Bureau takes charges of MPC plants and energy policy

As of 1 January 2020, supervision and control over electricity mandatory procurement component mechanism in Latvia will be performed by Construction State Control Bureau, as decided by Latvia’s Cabinet of Ministers.

Volkswagen unwilling to settle diesel mass lawsuit in Germany

German carbuilding giant Volkswagen has rejected an offer to settle in a lawsuit by around 450 000 diesel car owners.

Retail trade turnover in Latvia up 3.1% in August

When compared to August 2018, total retail trade turnover rose by 3.1 % in August 2019. Turnover of retail trade in food products increased by 0.7 %, turnover of retail trade in non-food products (except for retail sale of automotive fuel) – by 5.5 %, turnover of retail sale of automotive fuel – by 2.0 %.

Death of Estonian ex-banker should be investigated, minister says

Estonian Interior Minister has urged for an investigation of the death of Danske Bank’s Estonian branch ex-CEO, despite police seeing it as a suicide.

Sons of Skonto Būve and LNK founders decide to register new companies

Last week, Rihards Rāvis and Vadims Milovs, who are the sons of the founders of construction companies Skonto and LNK, registered new companies – SIA Skonto Group and SIA LNK Solutions, according to information from Lursoft.

PNB Bank fails to overturn FCMC’s imposed restrictions

Administrative Regional Court has declined the request submitted by insolvent PNB Bank on lifting the shut-down of operations applied by the Finance and Capital Market Commission, as confirmed by the assistant to the court’s chairman Sandis Zellis.