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Monday 27.01.2020 | Name days: Ildze, Ilze, Izolde

Lembergs family’s company receives LDz order worth two million dollars

Ventspils mayor Aivars Lembergs’ family-owned company Bio-Venta has attained nearly two million US dollar worth contract, winning in a tender for biodiesel supply organized by the state company SIA LDz ritošā sastāva serviss, which is monitored by the Transport Minister Uldis Augulis.

Annual inflation in Estonia – 5.4%

Compared to April, the Consumer Price Index was up 0.1% in May 2011, while compared to the same period last year – up 5.4%.

Number of Estonian millionaires surges one-fifth

In Estonia, the number of people with income over at least one million kroon (LVL 44 900) increased almost 20% last year, amounting to 1 947 people.

Economists: annual inflation nears 5% in May

Compared to May 2010, consumer prices in Latvia climbed 4.8% up to 4.9% in May 2011. On a monthly basis, the price climb was relatively small – rising 0.3% up to 0.4%, economists say.

Rietumu Bank establishes new investment fund

Rietumu Bank subsidiary - RB Asset Management - has established a new investment fund Fixed Income Fund as an alternative to deposits due to its high yield.

State IT systems in chaos

The state information technology system maintenance is costing millions; however, there is a lack of common strategy, so concerns arise about the inefficient use of funds.

Moody’s upgrades Latvia’s future outlook

On Monday, June 6, the rating agency Moody's improved Latvia’s future outlook from stable to positive, maintaining the credit rating at the previous level (Baa3), the Finance Ministry informs the business news portal BNN.

Economist: 2012 budget formulation crucial for market sentiment

Financial markets are not excited about any short-term political uncertainty; however, in the current situation the 2012 state budget formulation will be crucial for the further development and market sentiment, considers Elmārs Zakulis, deputy head of Bank of Latvia Monetary Policy Department.

Riga pays 3 000 lats a year for a slum on Moscow Street

The largest slum owned by Riga City Council is finally being torn down - deconstruction work was started on June 6. Up to now, the municipality paid 3 000 lats a year for the privately-owned building in an emergency condition.

IMF to lend three billion dollars to Egypt

The International Monetary Fund has agreed to grant a loan at the extent of three billion dollars to Egypt, while the loan repayment period has not been disclosed yet.

Ober-Haus: Riga apartment prices remain flat for third consecutive month

Ober-Haus Riga apartment price index shows that in May 2011, prices of Riga apartments maintained the same for the third month in a row, according to Ober-Haus Real Estate Latvia data.

More people forecast financial stability

In April, people were more optimistic regarding the current situation in Latvia, however, the overall sentiment is still exceedingly negative with 75% of the respondents saying the country is not on the right path.

Apple CEO returns to present iCloud

Having been on a sick leave for months, Apple Chief Executive Officer Steve Jobs is now returning back to the stage to present the world's most valuable technology company's strategy and products.

Brent crude drops on US unemployment

Brent crude fell down to 115 US dollars on Monday, June 6, amid fear over demand after disappointing unemployment data was revealed.

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