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Sunday 29.03.2020 | Name days: Agija, Aldonis

Latvian Chamber of Commerce and Industry suspected of defrauding EU money

Investment and Development Agency of Latvia has voiced suspicions over possible defrauding of European Union money in business trips organized by Latvian Chamber of Commerce and Industry, as reported by newspaper Latvijas Avīze with reference to information from LIAA.

Rail Baltica logistics centre construction tender terminated prematurely

Railway project Rail Baltica implementer in Latvia SIA Eiropas Dzelzceļa līnijas has terminated the tender for the construction project of a logistics terminal in Salaspils, as confirmed by the company’s representative Vita Voronkova.

Communications company Bite acquires 100% of Baltcom shares

Mobile communications operator Bite Latvija has signed a purchase deal for the acquisition of 100% of telecommunications company Baltcom shares, as confirmed by Bite Latvija chief Kaspars Buls.

One of the biggest tourism operators in the world goes bankrupt

British tourism company Thomas Cook, which is one of the largest and oldest tourism operators in the world declared bankruptcy on Monday, 23 September. This means cancellation of all bookings made with Thomas Cook’s mediation.

Competition Council permits sale of Bauskas Alus shares to CIDO Group

Latvia’s Competition Council has approved the sale of 100% of shares in SIA Bauskas Alus to CIDO Group under no special conditions. The deal is planned to be completed within a couple of months.

Candidate: FCMC team should learn to work substantially, not formally

The team of Latvia’s Finance and Capital Market Commission should learn to work substantially, not formally, said the candidate for the post of chief of FCMC and Citadele Bank board member Santa Purgaile at a press –conference on Thursday, 19 September.

Finance and Capital Market Commission applies a considerable fine on PrivatBank

Latvia’s Finance and Capital Market Commission has applied a fine of EUR 1.019 million on AS PrivatBank for violation of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing, as confirmed by FCMC Communication Office.

Lithuanian farmers ditch milk farming due to low milk price

In Lithuania, milk purchase prices are so low that small and medium-sized farms have found it unfeasible to operate and 12% of all milk farms have seized to exist over the past year, LRT reports.

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.

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