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Saturday 21.07.2018 | Name days: Meldra, Meldris, Melisa

Only Latvia's current account deficit in balance

The European Union countries external current account posted a deficit of 18.2 billion euro in the fourth quarter of 2010, if comparing to the deficit of 4.8 billion euro in the fourth quarter of a year before. Latvia is the only country whose deficit was in balance, according to the latest Eurostat data.

Global price surge may push 5.3 million people in poverty

The food and energy price increases might drive another 5.3 million European and Central Asian residents below the poverty line, recognizes the World Bank representative Theodore Ahlers.

China plans starting shale-gas production by 2015

The Chinese government mulls starting shale-gas production by 2015 to reduce the levels of pollution. China's reserves are estimated to make up 26 trillion cubic meters of potential shale-gas resources.

Weaker dollar boosts oil over 108 dollars

In the morning of April 15, oil price surpassed 108 US dollars, boosted by traders mulling weaker dollar and dropping demand for US fuel.

Glencore IPO hits 11 billion dollars

The leading commodities trader in the world Glencore International AG intends to raise 11 billion US dollar from an initial public offering (IPO).

Saab debt hits several hundred million

Given that the Swedish carmaker Saab production was suspended due to unpaid bills, the car trade association claims the company's debt amounts to several hundred million kronor.

Obama promises 4 trillion dollars budget deficit cuts in 12 years

The President of the United States Barack Obama has set a national target to cut the budget deficit byfour trillion dollars within the next 12 years. The plan provides spending cuts in the defence, health care and social security sector, as well as tax reforms.

IMF criticises the US on its huge debt

The US lacks a promising strategy on how to curb its growing government debt, which has a small, though significant risk of impacting the global economy, the International Monetary Fund indicates.

Cheap hotels era ends

After two years of decline, last year hotel prices in Europe surged 1.5% on average, comprising 215.24 euro per night for a hotel room.

The Economist: retirement age in Europe should be raised to 70 years

By 2040, the retirement age in Europe will have to be increased to 70 years. Since 1971, the average life expectancy rate in the advanced countries has risen by 4 – 5 years, and forecasts suggest that until 2050 it will grow by additional three years.

Japan stricken by another severe quake

Strong earthquake aftershock has shaken the northern Japan, causing two casualties and power outages in large territories.

ECB marks end of crisis with interest rate rise

For the first time in almost three years, the European Central Bank has raised its key interest rate by 0.25 percentage points up to 1.25%.

Saab suspends car production

The Swedish automaker Saab has announced the stoppage of production until the resolution of dispute with suppliers over the outstanding bills.

Oil price slides below 122 dollars after concerns on demand drop

On Thursday, April 7, morning Brent crude price dropped below 122 dollars, after five days of growth, due to concerns – if the value continues to rise, it will adversely affect demand from the US and China, the world’s two largest oil consumers.

Brent hits 2-1/2 year record

Brent crude rose two and a half years high, hitting 122 US dollars a barrel, due to the ongoing Middle East and North Africa unrest.

Swedish Finance Minister: stronger krona raises concerns

The Swedish krona has been recognized as this year’s most valuable currency. However, the country’s Finance Minister Anders Borg warns that further krona gains could give way for concerns.