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Wednesday 20.02.2019 | Name days: Smuidra, Vitauts, Smuidris

Latvia’s R&D funding share of GDP is second lowest in Europe

Latvia spends 0.51% of its GDP, which is the second lowest index among EU member states, on research and development, according to data from Eurostat.

Micro-enterprise tax payers in Latvia can expect multiple legislative changes

Latvian State Revenue Service reminds that 2019 marks the coming into force of multiple regulations in relation to micro-enterprise tax payers as part of previously implemented reforms.

World Bank's head Kim resigns to do more in private sector

The head of the World Bank, Jim Yong Kim, has announced he is stepping down as the head of the World Bank, in a move that came as a surprise to its shareholders – the 189 nations that support its work.

Week in Lithuania. Probe into suspected squandering at Lithuanian Post

Lithuania's Special Investigation Service, or STT, has launched a pre-trial investigation into suspected squandering of public funds at Lietuvos Paštas (Lithuanian Post). Transport and Communications Minister Rokas Masiulis says traces of an audacious scheme for profiting at the state's expense have been detected at the state postal company.

Eurostat: November’s producer prices in Latvia grew more rapidly than average prices in EU

Industrial producer prices in Latvia grew 6.9% in November 2018 when compared to the same month of 2017, which is a more rapid pace than the average in the European Union, according to data from Eurostat.

Tallink Grupp increased passenger and cargo volumes in 2018

Estonian shipping giant Tallink Grupp has seen moderate increase in the number of passengers and cargo units its ships carried during 2018.

Latvian government receives plan for MPC cancellation in 2022

Latvian Economy Ministry has submitted to the Cabinet of Ministers Committee a report on solutions for support of electricity producers to allow for the cancellation of the mandatory procurement component from 2022 onward and provide fair support for green energy producers based on market principles.

Baltic residents spend more money on alcohol than other EU residents

Residents of Baltic States spend more money on alcoholic drinks than residents of other European member states for which information is available, according to data published by Eurostat for 2017.

Week in Lithuania. President signs new referendum law

President Dalia Grybauskaite has signed the new version of the Law on Referendum, defining referendum organization procedures and allowing more polling places abroad, into law, the presidential press service said on Thursday, December 27.

Association: most non-banking lenders will disappear from Latvia’s market next year

Most non-banking lending companies in Latvia will have been liquidated by the end of next year or beginning of 2020. This means short-term loans will no longer be available to residents, predicts Alternative Financial Services Association of Latvia.

Week in Lithuania. Watchdog: Simpsons might have negative effect on minors

The Radio and Television Commission (RTCL) of Lithuania believes the popular American sitcom, The Simpsons, might be having negative impact on minors, thus, should be shown after 9 p.m. According to the watchdog, certain scenes involving the use of alcohol, polygamy promotion, and talks about sexual intercourse, could be detrimental to minors. The RTCL has asked the TV3 channel airing The Simpsons to provide explanations.

U.S. widens Russia sanctions over election interference

Washington has introduced new targeted sanctions against Russian citizens, putting them on its blacklist of individuals allegedly involved in a Kremlin-backed campaign to meddle with the 2016 U.S. presidential election and other malign activities.

Ten Danske Bank suspects arrested by Estonia, more arrests likely

In the criminal investigation into alleged money laundering via the Estonian branch of Danske Bank, Estonian authorities have arrested 10 former employees as suspects.