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Tuesday 21.08.2018 | Name days: Linda, Janīna

External trade grows 26.4%

The total external trade turnover at current prices formed 10 507.3 million lats last year – 26.4% or 2 195.3 million lats more than in 2009.

President of Lithuania seeks to break heating monopoly

The president of Lithuania Dalia Grybauskaitea has pressed lawmakers to break the monopoly of the heat supply market, simplifying the terms of abuse of a dominant market position as well as increasing penalties.

Foundation: LNG projects in Latvia and Lithuania can be mutually compatible

Projects of liquefied natural gas (LNG) reception terminal with a re-gasification plant can break Gazprom’s monopoly in the three Baltic States and Poland, creating a competitive regional market through supply diversification and mutual interconnection.

Second largest bank of Russia may expand to Estonia

Russia’s second-largest bank VTB in which the Russian state owns 85.5% may become a controlling shareholder in Estonian Credit Bank if its bid to acquire 100% of Bank of Moscow that owns Estonian Credit Bank is successful.

Debt for consumed heat rises by 40 million lats

This year, the debt for the consumed heat in Latvia has amounted to 61 million lats, of which 16 million lats large debt has formed in Riga.

Activities of Scandinavian banks in Latvia – promising in the long term

The major Scandinavian banks operating in Latvia in terms of assets and loan portfolio volume (61.5% of the total banking market in late 2010) – Swedbank, SEB banka, Nordea Bank and DnB Nord Bank – suffered huge losses during the crisis years due to the issued loans in the fat years.

Regulator: chaotic attempts instead of energy policy implementation

Latvia does not have an energy policy – there are only spontaneous attempts to achieve something. We do not have a targeted, systematic policy, which is necessary if we want to be competitive in the world and adjust to this area, believes the Public Utilities Commission Acting Chairman Ivars Zariņš.

Neste Latvija: fuel excise tax rise to affect all sectors

Fuel excise tax rise will have a direct impact on fuel prices, which in turn will boost costs of other sectors as well, Neste Latvija general manager Arttu Airiainen says. He explains that many ordinary drivers, carriers and food will feel the impact of it.

Yuan slowly but confidently emerging as the world’s currency

China, who has become the world’s second largest economy after the United States, is preparing for the next stage. In order to become the world’s leading economy, China intends to change the yuan into an international currency.

Milk procurement price spikes 70% in Latvia

Since October 2009, when the milk procurement price started to surge, up to 2011 - it has already spiked 70%. While the climb amounted to 15% last year, Latvian central union of dairy farmers Head Jānis Šolks told the business news portal BNN.

Latvia reported the largest industrial volume drop in EU last December

Compared to November, in December 2010 the industrial production volume in Latvia posted the largest drop (-1.9%) in the European Union. Comparing 2010 with 2009, Latvia reported the third largest increase in the EU in December 2010 (+15.7%), according to the statistical office Eurostat data.

Japan looses the world’s second-biggest economy title

When assessing Japan’s gross domestic product figures, it can be concluded that the country has lost the world’s second-largest economy status, while the US remains in the leading position.

Alliance with Microsoft lowers Nokia’s stock price by 14%

The value of company Nokia shares dropped on February 11 by 13.8%, compared to the stock price the day before. The sharp decrease occurred at a time when the Finnish company signed a cooperation agreement with the software developer Microsoft.

Cheapest commodities bought the most at antique shops

If previously antiquities, paintings and furniture were the most purchased by real estate brokers and others working in this business, now the customers of antique shops are mainly people who have saved up money during the crisis.

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