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Tuesday 11.12.2018 | Name days: Valdis, Voldemārs, Valdemārs

Ministry identifies 432 high-risk objects in Latvia

Interior Affairs Ministry in Latvia has identified a total of 432 high-risk objects. Most of them are petrol stations, mineral fertilizer and oil product terminals, as well as railway stations.

Capital saved on 2nd level pension plans up 6% in first half year of 2018

In the first half-year of 2018, deposits on state funding pension plans grew by 6% or EUR 198.1 million in Latvia, reaching EUR 3.48 million at the end of June, as reported by Finance and Capital Market Commission.

Unknowns rob postal office in Kauguri

On Friday, 7 September, unknowns robbed a postal office in Kauguri, as reported by Latvian Post External Communications Office manager Gundega Vārpa.

Latvian government reaches agreement on teachers’ pay financing from state budget

On Friday, 7 September, by slightly easing initially proposed criteria, Latvia’s Education Ministry and its social partners managed to reach an agreement in relation to financing teachers’ wages from the state budget starting with 1 September 2020.

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.

SRS: envelope wages are gradually declining in number

Considering that envelope wages present one of the most significant components of grey economy, this year Latvia’s State Revenue Service has performed a study on the situation with non-declared wages or envelope in the country.

Savings of Latvian residents grew by one billion euros last year

Latvian residents have become more serious about making savings in recent years, according to data compiled by the Finance and Capital Market Commission on Latvian residents’ financial literacy strategy 2014-2020.

Week’s end in Latvia will be mostly dry and warm

The end of the week in Latvia is expected to be mostly dry and hot. Nevertheless, next week will kick off with increased cyclone activity, which means often rainfall and considerably cooler and windier weather, as reported State Environment, Geology and Meteorology Centre.

Latvia’s FVS pulls two tonnes of cheese for circulation after surprise inspection

During a surprise product labelling inspection at SIA RVA Company warehouse in Riga, Latvian Food and Veterinary Service found evidence of re-labelling of food products, specifically a certain type of cheese.

Green Farmers member steps down before the end of his career in Saeima

Latvian Saeima deputy Askolds Kļaviņš from the Union of Greens and Farmers has decided to put down his mandate.

Largest revenue in Latvia’s banking sector observed for Swedbank in first half of 2018

Among the banks present in Latvia, Swedbank enjoyed the largest revenue in the first half of 2018. SEB Bank and Luminor Bank are next. Two banks suffered losses in this period, according to data from the Finance Industry’s Association.

Latvia’s Saeima may prohibit employers from requesting foreign language skills

Amendments to the Labour Law supported in the first reading provide that employers may no longer be allowed to request specific foreign language skills from their employees if use of said language is not part of their job.

U.S. to consider investigating tech firms over limiting free speech

The U.S. government has warned of possible legal action against large computer technology companies in relation to issues of competition or political bias.

ECB: the next crisis could be associated with real estate market

The next crisis Europe and the world might experience in the future could be associated with the real estate market and mortgage lending, allows European Central Bank’s Supervisory Board chairperson Danièle Nouy.

Latvian butter receives European protection

European Commission has approved the inclusion of two more food products – Spanish sausage Morcille de Burgos and Latvian Rucavas white butter – to the EU register of Protected Geographical Indications (PGIs), as confirmed by European Commission’s office in Latvia.