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Tuesday 25.06.2019 | Name days: Maiga, Milija

Latvia reports largest unemployment drop in EU

Latvia posted the largest unemployment rate fall in the European Union, compared to 2009 and 2010 indicators, when the unemployment fell from 20.1% to 17.3%, according to Eurostat data.

Working on weekends complies with international rigths

If workers are employed on Saturdays and Sundays, as well as on holidays, they are ensured the protection stipulated by the European Union – the right to recreation at another time, indicates Elīna Egle, Director General of the Latvian Employers' Confederation.

Construction costs drop 0.6%

Compared to February 2011, construction costs in Latvia dropped 0.6% on average in March this year. Costs of machinery and equipment maintenance grew 1.8%, while construction materials prices – 0.1%. Labour remuneration fell 5.2%.

Swedbank: fiscal policy needs improvements

The state budget situation is improving faster than expected and this year the government plans to reduce the budget deficit more rapidly than it was projected when approving the 2011 state budget, Swedbank indicates.

Lithuania’s annual GDP climbs 6.9%

The Lithuanian annual Gross Domestic Product surged 6.9%, indicating the crisis prevailing in Lithuania over the last three years is truly over.

Oil price drops over fears of decreasing demand

On Friday, April 29, the oil price fell after a 31-month high. This is tied to concerns over the impact of slow price climb on the demand drop.

Pure Food sold after posting the best profit

The company was sold at the time when its profit figures were the best since its establishment in 1994 – last year the turnover hit 12.6 million lats, but profit – 664.4 thousand lats, points out Aivars Žimants, who sold his company SIA Pure Food to the Belgian Puratos.

State Revenue Service forfeits millions of lats on electronic system errors

Several millions of lats are lost due to problems with the State Revenue Service Electronic Declaration System.

Expert: tax rise limits individual freedom

Latvia should turn much more attention to economic security issues, says Aivis Ronis, Latvian-American financial forum President, adding that we cannot achieve that with mere figures.

Lithuanian economy grows 6.8% in first quarter

Annual seasonally and working-day adjusted data, Lithuanian economy has expanded 6.8% in the first quarter of 2011, compared to the same period a year ago, according to Lithuania statistics department.

Expert: it's the right time to open labour market

Karl Aiginger, the head of economic research institute WIFO, considers May 1 is a good time for opening the Austrian labour market to the EU member states in the Eastern Europe.

Standard & Poor’s cuts Japan outlook

Standard and Poor's has downgraded Japan outlook from stable to negative amid the severe natural disaster's impact on the country's budget, with Japan's long-term sovereign credit rating is AA-.

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