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Monday 14.10.2019 | Name days: Minna, Vilhelmīne

Swedbank Estonia possibly been used to move massive «hidden» sums, media report

Cyprus coal trader Carbo One has been a key corporate client of Swedbank Estonia with transfers exceeding a billion euros and Russia's billionaire Iskander Makhmudov has allegedly transferred huge sums through «shadow» accounts despite a lack of official links to the coal firm, Estonia's Postimees and Swedish SVT report.

Survey: 66% of travellers avoid areas at risk of terrorist attacks and natural disasters

When travelling, most Latvian residents always try to avoid destinations suffering from armed conflicts or natural catastrophes, SIA Latvia Tours representative comments on information from Latvia Tours Travel Index.

Economist: surge in construction causes Latvia’s GDP to go up

«Exceeding optimistic outlooks and in spite of developments in the finance sector Latvia’s GDP had growth 4.8% last year. This increase came largely as a result of a rapid surge in the country’s construction sector,» comments SEB Bank economist Dainis Gašpuitis.

Retail trade turnover in Latvia up 1.2% in January

Compared to January 2018, the total retail trade turnover rose by 1.2 % in January 2019. Turnover of retail trade in non-food products increased by 2.3 %, turnover of retail sale of automotive fuel by 2.5 %, while turnover of retail trade in food products reduced by 0.7 %.

Freight transport between Latvia and Bosnia and Herzegovina will not require permits

An agreement has been reached in regards to permit regime’s cancellation for mutual freight transport between Latvia and Bosnia and Herzegovina starting from 1 January 2020. This means transit and mutual freight transport will be liberalized and allowed to be performed without permits, as reported by Latvian Foreign Affairs Ministry’s Communication Office.

Lido invests EUR 10,000 in new equipment and products

Lido restaurant network has invested EUR 10,000 to procure new cooking equipment and develop new products, as confirmed by Lido representatives.

Survey: last year’s best development in agriculture – compensation for floods

According to Latvia farmers, the best thing to have happened in the industry last year was state support for the losses caused by floods in 2017 (47.8%), whereas the worst development in 2018 was the lasting drought and consequences it had caused (82.3%), according to results of Swedbank survey.

President: Latvia wants to work with Germany in science and digital technologies

«Latvia is interested in developing cooperation in digital technologies and science, as well as transport and logistics sector. At the same time, we want to continue established cooperation in tourism and attraction of students,» said Latvian President Raimonds Vējonis during his meeting with Mayor of Hamburg Dr. Peter Tschentscher on Monday, 25 February.

Week in Lithuania. Lithuanian dairy loses legal dispute over Pik-Nik trademark

The Supreme Court of Estonia on Wednesday, February 20, dismissed an appeal submitted by Lithuanian dairy company Žemaitijos Pienas against Estonia's Estover in the string cheese trademark dispute, leaving Estover the right to sell its products under the name Piknikupulgad.

Spanish train manufacturer appeals Latvian procurement outcome in court

Spanish train manufacturer Talgo has appealed the decision made by Latvian Procurement Monitoring Bureau on re-assessment of results of the procurement of electric trains, saying that PMB has made big mistakes and wrong conclusions, which resulted in an illegal decision, Talgo representatives say.

Study: Latvian residents worried the most about traffic accidents when travelling

When travelling abroad, Latvian residents are afraid the most of ending up in a traffic accident (56%), fall ill (54%) or become injured (53%), according to results of a study performed by If Insurance.

Cemex announces sale of its Baltic and Nordic assets

Cemex has made the decision to sell assets in Baltic and Nordic countries worth EUR 340 million to Germany company Schwen, as confirmed by Cemex representatives.

Swedbank refrains from commenting information about its possible involvement in money laundering

Citing confidentiality, AS Swedbank has decided to refrain from commenting on information reported by Swedish television regarding the bank’s involvement in money laundering, said the bank’s Risk Management Office in Latvia Juris Bogdanovs.

airBaltic to cease using Boeing 737 in autumn 2019

Latvian national airBaltic airline plans to cease using Boeing 737 in autumn 2019 or a year earlier than initially planned, as confirmed by the airline’s representative Alise Briede.

BTA: number of insurance claims up by more than a quarter

The number of insurance claims in Latvia at the beginning of 2019 has increased 28.4% when compared to the same month of 2018, and by 55.3% when compared to January of 2017, as reported by BTA Baltic Insurance Company representative Elīna Rasmane.