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Sunday 15.07.2018 | Name days: Henriks, Henrihs, Egija, Egmonts, Egons

Latvia's annual inflation third highest in EU

Annual inflation in Latvia accounted for 4.5% in Latvia, thus posting the third highest inflation among the European Union member states, according to the latest Eurostat data.

EU gives green light; Microsoft concludes Skype purchase

The EU's bodies have authorized the transfer of Internet phone service provider Skype in Microsoft’s ownership. Consequently, Skype is now officially a division of Microsoft.

19 alleged accomplices of Breivik arrested in Poland

19 people have been arrested within the framework of a police raid in Poland which was launched after Anders Breivik's attack in Oslo. Detainess are suspected of producing explosives.

Oil price drops to 111 U.S. dollars

On Thursday, October 13, Brent price fell almost to 111 U.S. dollars per barrel over demand drop in China, the world's second largest oil consumer.

European Commission: what will change in Latvian agricultural policy?

The European Commission has presented its proposal for the Common Agricultural Policy after 2013. In short, the following will affect Latvia:

Afghan authorities’ ability to control situation doubted

Despite a number of positive aspects associated with the Afghan national security forces development and Afghan soldiers' participation in NATO training program, there are serious concerns over local authorities’ ability to control the situation in the country.

Tymoshenko found guilty

Pechersk District Court of Kiev has found Ukraine’s ex-Prime Minister Yulia Tymoshenko guilty of abusing office by signing gas contracts in 2009. Moreover, she has been sentenced to seven years imprisonment.

Likelihood of re-recession in eurozone – 35%

There are heightening concerns over sovereign debt levels in the eurozone, giving grounds to crisis spreading throughout the eurozone and resulting in re-recession. This would have a negative impact on Latvia as well, although Latvia will not face repeated double dip, according to Ernst&Young’s survey Autumn 2011 Eurozone Forecast.

Merkel: world is switching to multi-polar currency system

The international monetary system with the dollar's dominance could be giving way to a multi-polar currency system, German Chancellor Angela Merkel said after talks with the leading EU financial authorities.

Latvia votes against Palestine’s admission to UNESCO

Latvia supports Palestine’s participation in UNESCO and other organizations; however, the whole process should take place in logical sequence. Firstly, direct negotiations should take place, leading to the creation of Palestine’s statehood.

Precious metal prices drop, with dollar strengthening

In September, gold and other precious metals price fluctuations differed widely – silver prices fluctuated on average by 30–34% in the euro and U.S. dollar currencies, while gold price – on average by 13 – 15.7% in the respective currencies.

Moody's cuts Italy’s credit rating

The agency Moody's has slashed Italy's credit rating by three notches, citing significant financial risk increase in the debt-laden eurozone countries as the reason. The rating agency warns there might be further reductions.

Eurozone postpones decision on granting next loan to Greece

The eurozone’s finance ministers have decided to put off the decision on granting the next loan tranche to Greece.

Reinert: Estonia might be the last country to replace national currency with euro

Latvians lack sound national confidence, says the world-famous Norwegian economist Erik Reinert, whose book How Rich Countries Got Rich… and Why Poor Countries Stay Poor is about to be published also in Latvian.

Brent price surpasses 104 dollars

On Friday, September 30, Brent crude exceeded 104 U.S. dollars per barrel. The price level continues to indicate the likelihood of largest quarterly decrease in the 15-month period, given the economic slowdown is significantly affecting the fuel demand.

European Commission pushes for financial transaction tax

On Wednesday, September 28, the European Commission presented a proposal for all twenty-seven EU member states on introducing a financial transaction tax.

Eurostat: Latvia’s residents most actively going on short domestic trips

In the EU, short domestic trips were most often preferred by residents of Latvia, since 73% spent up to three days in such trips.

Crude gains depending on clarity in eurozone crisis

Brent crude price has exceeded 105 U.S. dollars a barrel, given that concerns over the European debt crisis have temporarily eased and the dollar weakened.

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