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Tuesday 20.11.2018 | Name days: Anda, Andīna

Ministry: non-banking lenders should assess clients’ solvency more carefully

Although certain improvements have been noticed in the industry, Latvia’s Economy Ministry invites amendments to make non-banking lenders perform more careful evaluation of clients’ solvency and allow creditors exchange information with one another.

EU suspects German car-makers of colluding against cleaner technology

EU competition watchdogs are probing if German automotive giants have colluded to restrict the development of clean emission technology.

Estonia bank watchdog points to Denmark's responsibility over Danske

As to the allegations of doubtful billions flowing via the Estonia branch of Danske Bank, the Estonian watchdog of financial institutions has noted that the Danish supervisory authority was responsible for the lender's risk control.

Ukrainian investor picks Madliena Parish in Latvia as location for egg factory

During an extraordinary meeting, deputies of Ogre County Council supported creation of an egg and egg product plant in Madliena Parish, which has been picked by a Ukrainian investor as a location for the plant.

What's better in new Apple crop and what's useful?

U.S. tech giant Apple has launched three new smartphones and a redesigned smartwatch. With the new X series iPhones the firm has tackled the two key smartphone problems – fragile screens and frequent charging.

Estonia sees continued passenger decline in Tartu Airport

The airport near Estonia's second city Tartu has experienced continued decline in passenger numbers, down to 2 000 per month in August, which offers flights to and from Helsinki in Finland every day.

Latvia’s exports up 11.9% in July; wood exports on a rise the most

In July 2018, the foreign trade turnover of Latvia amounted to EUR 2.31 billion, which at current prices was 11.9 % more than in July 2017, of which the exports value of goods was 8.3 % and imports value of goods was 14.5 % higher.

SEB Bank allocates EUR 10 million to Rīgas Siltums

SEB Bank has provided a loan of EUR 10 million to Rīgas Siltums. These finances will be used to refinance the company’s investments, as well as to improve and develop its heating supply infrastructure, the bank reports.

Eurostat: Latvia had more rapid GPD climb than average rate in EU in Q2

Compared to the same period of 2017, Latvia experienced a more rapid GDP climb in Q2 2018 than the average in the European Union, according to data published by Eurostat on Friday, 7 September.

Latvian Saeima supports in second reading stricter requirements for fast loans

On Thursday, 6 September, Saeima’s deputies supported in the second reading amendments to the Consumer Rights Protection Law. Amendments provide for reducing total loan costs for consumers by limiting the size of loans issued to 30 days, as well as changing repayment order.

Latvia’s State Treasury concludes 2018 borrowing plan, releasing bonds worth EUR 350 million

Using the beneficial situation on international finance markets for the second time, Latvia’s State Treasury on Wednesday, 5 September, released bonds worth a total amount of EUR 350 million, thereby successfully concluding the planned borrowing activities worth EUR 1 billion.

Consumption of renewable energy in Latvia up 17.8%

In 2017, gross consumption of renewable energy sources in Latvia amounted to 80.5 petajoules. Compared to 2016, consumption of RES has risen by 17.8 %, whereas over the past five years – by 18.7 %.

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