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Monday 14.10.2019 | Name days: Minna, Vilhelmīne

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.

Lithuanian shops using increase in wages to raise prices, analyst asserts

In Lithuania, inflation has been two times faster in 2019 compared to other markets in the euro area. Economist Žygimantas Mauricas believes retailers have used a surge in wages to increase prices, especially in grocery stores.

Latvian court declares PNB Bank insolvent

Riga City Vidzeme Suburb Court has declared PNB Bank insolvent, as confirmed by Finance and Capital Market Commission. Vigo Krastiņš has been approved as the bank’s insolvency administrator.

Lithuania warns about end in rapid wage growth

«The summer will not last forever,» said Lithuanian Finance Minister Vilius Šapoka about a summary of official economic forecasts, which warn that after a fairly rapid growth, national economy and wages would grow at a somewhat slower pace.