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Monday 22.07.2019 | Name days: Marija, Marika, Marina

Foreigners buy up Japanese companies shares

Foreign investors have placed up to 11 billion dollars in Japanese companies over the week from March 13 to March 19, thus beating 2005 record. Overall foreign investors have bought shares totaling 11.8 billion dollars.

34% more mineral fertilisers used on agricultural crops in 2010

Last year, 34% of the utilised agricultural land was treated with mineral fertilisers. In 2010, 55% of the total area of agricultural crops were treated with mineral fertilisers (in 2009 – 50%), of which 78% of cereals (in 2009 – 73%) and 89% of industrial crops (in 2009 – 71%).

VAT payments hit 109 million lats in February

This February the value added tax contributions comprised 108.8 million lats, which is in accordance to the average monthly VAT revenues, informs the Finance Ministry.

Investors line up for cattle-breeding and green energy investments

There are two areas where investors are now lining up with money – livestock breeding and the green energy, the Economics Minister Artis Kampars points out.

Inhabitants to pay ridiculous taxes if cadastral valuation system is not changed

The existing amendments to the cadastral valuation provisions are rather superficial, because the entire cadastral valuation system should be reviewed, considers Andris Jaunsleinis, the Chairman of the Latvian Association of Local and Regional Governments.

Fuel production from seaweeds – most beneficial

Most likely, the European Union will not manage to fulfil the set objectives for green fuel by 2020. The reason for this is the existing vehicle and fuel technologies, believes Guntis Āboltiņš-Āboliņš, the head of the Future Fuel unit at Statoil ASA.

M2M Private Bank head hopes outbidding competitors at Citadele’s auction

The holding company VMHY Group hopes that it can offer a better price for AS Citadele Bank than the other stakeholders, at the time when the government decides to initiate the bank's privatization process and invites investors to submit their offers.

75% of Latvia population support fast trains to Europe

The majority of Latvia population approve of the necessity to build fast trains system in Latvia to link it with Europe. 75% of Latvia residents aged 15 to 74 believe Latvia needs a fast train route Tallinn-Riga-Kaunas-Warsaw-Berlin (Rail Baltica).

Lux Express: national intercity traffic subsidy policy needs revision

Lux Express calls for opening the intercity passenger traffic market for free competition, monitoring only the departure times. This would substantially reduce the state subsidies for domestic traffic; moreover, such system is already successfully operating in Estonia.

Moody’s cuts credit ratings of 30 Spanish banks

The international rating agency Moody’s has simulatniously downgraded 30 Spanish banks’ credit ratings. While the rating of Spain’s three major banks – Santander, BBVA and La Caixa – has remained unchanged.

87% of Latvia residents not satisfied with government’s work

Despite the publicly voiced promising expectations about the economic recovery, the inhabitants’ sentiment regarding the economic situation in Latvia has declined dramatically, experiencing as sharp drop as in spring of 2009.

32% of Latvians willing to work abroad

Latvians leaving to work abroad is a serious issue with long-term effect on the future of the state, 76% of the respondents say. 9% see it as an important, but short-term problem, while 6% point out it is not that big issue after all.

Fazer bakery turnover drops 8%

Last year, the economic recession maintained in the Baltics, with Latvia facing the worst situation. Despite raw material and energy resource price surge, in 2010 the average price of bread was approximately 10% lower than in 2009.

Brent crude drops for second day in a row

Brent crude is down for the second day in a row on March 24, having dropped 0.4%, it now amounts to 115 US dollars a barrel amid Portugal Prime Minister's resignation, flaring up eurozone concern, but at the same time also boosting oil traders profit.

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