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Tuesday 21.08.2018 | Name days: Linda, Janīna

Rīgas satiksme Board Chairman Bemhens dismissed

In relation to the unduly paid compensations, SIA Rīgas satiksme, shareholders’ meeting has decided to temporarily dismiss the company’s Board Chairman Leons Bemhens, Riga City Council’s Chairman Nils Ušakovs revealed at the press conference on Monday, February 21.

Estonia to introduce progressive income tax

Progressive income tax could be introduced in Estonia as a result of certain conditions, however it is not advisable to do it rapidly, local and foreign economy experts say.

Unrests keep boosting oil price

Oil price gains reached more than a dollar per barrel in the morning of January 21, following ongoing unrest in OPEC member states spreading also to Middle East and North Africa. Moreover, protests endanger oil supply across the region.

Citadele sale currently not profitable for Latvia

Provisional indicators suggest that currently the state would not benefit from selling Citadele Bank. Citadele’s inconclusive revenues and huge provisions for bad loans at Parex Bank do not allow anticipating that the fast scenario of both the banks sale would come true.

Politologist: Greens and Farmers’ Union holds the true power

Currently, there is somewhat chaos in the government, because the true power is not in the hands of the Prime Minister Valdis Dombrovskis, it is rather held by the Greens and Farmers' Union. Unity cannot maintain as the ruling coalition without the GFU, so it is submitting to its dictated rules, considers the politologist Ilga Kreituse.

Tax rise boosts shadow economy

Tax rise will not help combat the shadow economy, because it is exactly taxes that boost it, both local businessmen and foreign investors say.

Spiking food prices hit Latvia

In early 2011 dairy Valmieras piens announced it was raising the price of its production. Just recently five more dairies informed they need to increase 48 dairy products prices. Two of them plan boosting prices by 5-6%, two - by 5-10% and one - by 14%.

Japan acquires Airbus A380 planes

The Japanese airline Skymark Airlines has reached a definitive agreement on four Airbus A380 aircraft – the world’s biggest airliner – purchase, indicates the statement published by Airbus.

Finland in threat of doubling IT sector unemployment

Job cuts at Nokia are threatening to double the number of the jobless in the information and technology sector in Finland. Currently there are 100 000 people working in the Finnish IT sector.

Vaskevics to remain behind prison bars

The suspended and dismissed former Finance Ministry Tax and Customs Administration Policy Department Deputy Director Vladimirs Vaškevičs will remain for the time being in custody, his lawyer Aloizs Vaznis informed journalists.

Court orders Baltkom to pay Lattelecom 77 000 lats

Administrative Court has dismissed Baltkom 's complaint against the Public Utilities Commission's decision providing that Lattelecom tariffs of number portability approach costs, thus Baltkom is ordered to pay the company Lattelecom 77 000 lats.

48% of Latvians spend more than 100 lats on utility bills monthly

Although every fifth resident of Latvia delays consumer service payments by a month or even longer, 80% of the inhabitants regularly pay their bills, observing deadlines.

Study: businessmen neither trust government, nor fear avoiding taxes

Previous studies in various countries have revealed that there are two main reasons for tax evasion - risks to be caught and attitude towards the specific country, according to Stockholm School of Economics in Riga observations.

Estonian alcohol producers sold more on the domestic market

Estonian producers sold 0.59 million liters of hard alcohol on the domestic market in January, a 61 percent increase compared to the same month of last year, according to data from the Alcohol Producers' Association.

Average savings of Estonians only cover some months of household costs

In the event of losing a steady income, 52 percent of Estonians would not be able to sustain their households for more than six months, according to research agency Faktum & Ariko’s recent study.

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