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Tuesday 21.08.2018 | Name days: Linda, Janīna

Latvia falls behind Russia and Poland in terms of welfare level

The occurred drop in prosperity, due to the recession, has created a situation where Latvia is at lower position than Russia and Poland, in terms of welfare. Forecasts show that Latvia will not manage to improve the position this year.

Agriculture Minister: not all Latvian exporters are able to fulfil agreements

Not all of the export companies in Latvia manage to meet the stipulated product supplies, the Agriculture Minister Jānis Dūklavs indicates at the Agricultural Organization Cooperation Council’s meeting.

UN: world at risk of hunger-related riots

The risk of unrests caused by hunger in the African and Latin American countries has increased due to the food price surge, indicates the published information by the United Nations.

EC warns Latvia about disregarding EU air quality requirements

Latvia has not managed to deal effectively with excessive PM10 – small airborne particle – emission, which in high concentrations can be hazardous. Therefore, Latvia has been ordered to improve the situation within two months, otherwise the European Commission will file the case to the European Union Court.

Finance Ministry: export and import to surge less in 2011

Export and import will grow at a slower pace this year, as full load of production capacity is about to hit its maximum and export growth rates will depend more on new investments in manufacturing industry, the Finance Ministry told the business news portal BNN.

Estonian Air new aircraft brings new challenges

The long-awaited Bombardier aircraft owned by the Estonian national airline Estonian Air arrived in early 2011. The new aircraft can significantly reduce noise level and fuel costs. Despite all this, passengers will have to face unexpected additional costs as well.

Nokia’s share value hits record-low since 1998

On Tuesday 16, the leading cellphone manufacturer Nokia’s share value hit the lowest level in the past twelve years, dropping by almost 20%. This decrease is linked to the announcement made last week on the collaboration with the software developer Microsoft.

Electricity tariff rise to reach 39% this year

After evaluating the tariff changes, the Latvian Association of Local Governments believes Latvenergo’s statement that the tariff increase will affect only half of the households and the average tariff will change by 21% starting from April 1, is not true.

Regulator approves Latvenergo new tariffs project

The Pyblic Utilities Commission has approved AS Latvenergo new energy tariffs project, envisaging a new procedure of calculating tariffs starting from April 1, according to Latvenergo board member Uldis Bariss.

Republicans propose cutting US budget for 2012

One of the two major contemporary political parties in the United States The Republican Party has submitted a bill proposing 61 billion dollar cuts of the public expenditure in 2012 budget. The Republicans acknowledge it is not possible to balance the budget simply by reducing nonsecurity and nondefense spending.

Marupe Agricultural Centre applies for insolvency

The poultry company Marupe Agricultural Centre has applied for insolvency, mentioning the difficult economic situation as the reason, the Centre’s Board Member Kārlis Krastiņš points out.

Taxi wars also in Liepaja

Taxi companies interests have clashed also in Liepaja, similarly as two years ago in Riga. Local taxi services providers have already divided their territories, which is against the law. Moreover, they do not intend to let their competitors enter them. A fight has brought the conflict to the Court already.

Riga Dairy to focus on Russian market

Riga Dairy (A/S Rīgas piena kombināts) turned 53 million lats last year, surpassing the performance of 2009 by 12 million lats. The company explains this by growing exports, amounting to 22% of the total turnover, Riga Dairy public relations manager Irēna Bērziņa told the business news portal BNN.

Estonian economy grew 3.1% in 2010

Estonian gross domestic product increased 6.6% in the 4th quarter of 2010 compared to the same quarter of the previous year. This means that the GDP for 2010 grew by 3.1% compared to the previous year, according to the flash estimate of Statistics Estonia.

White House: US budget deficit to hit 1.6 trillion dollars

This fiscal year, the US budget deficit will be higher than expected, hitting a record-high sum – 1.6 trillion dollars, or more than one-tenth of the gross domestic product, indicates a statement released by the White House.

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