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Tuesday 20.08.2019 | Name days: Bernhards, Boriss

Latvia reports the 12th lowest annual inflation in EU

In December 2010, the annual inflation in Latvia grew 2.4%, accordingly it was the 12th lowest inflation in the European Union.

Eesti Energia signs agreement with Alstom on new power plant construction

The Baltics’ largest power utility Eesti Energia has signed a contract with the French consortium Alstom on new combustible shale plant construction. It is planned to build the new power plant with two 300 MW capacity units next to the existing one at Narva, in Estonia.

Latvia sees the fastest export surge in EU

Latvian export soared 28% in the first ten months of 2010, compared the exact reporting period in 2009. It is the fourth highest growth in the European Union.

Municipalities ask to compensate 3.4 million lats losses due to snow

Snow has propelled local municipalities of Latvia suffer losses of 3 401 984 lats, according to the Ministry of Environmental Protection and Regional Development preliminary data after collecting information from 89 municipalities.

EU car registrations drop 5.5%

The number of new cars registered in the European Union dropped 5.5% last year, compared to 2009, according to the European Automobile Manufacturers data. 13 360 599 cars were sold in 2010, while the figure amounted to 14 132 346 in 2009.

Cigarette smuggling kills Latvian economy

Along with the economic situation deterioration, the number of smuggling cases has surged considerably. However, despite this, the responsible authorities manage to discover these crimes more efficiently, stresses the State Revenue Service Customs Criminal Administration director Marians Burijs.

Taxi cabs to charge more

New regulations designed by the Ministry of Transport come into force on February 1. They provide a taxi ride is charged according to two positions: distance traveled and time spent, which means passengers will be charged about a lat more for an approximately ten minutes long ride.

Government secretly dismisses Parex management

The current AS Parex banka management Board and Council members will not be held responsible neither for their activities since the split of the bank, nor in future, the Cabinet of Ministers run by the Prime Minister Valdis Dombrovskis decided in a closed government session.

Latvian ports operated with different progress in 2010

Overall in 2010, the Latvian ports handled less cargo than in 2009; however, each of the major ports showed different progress.

Experts: wages to grow slowly this year

In 2011, the salary increase will be very slow, and mainly affect qualified professionals and managers, because of their shortage in the labour market, the career portal WorkingDay marketing director Māris Silinieks told the business news portal BNN.

Euro drops slightly after gaining on Portugal bond auction

Euro has slightly slipped against the dollar after gaining on a successful Portugal bond auction, thus easing the concern over the European debt crisis.

Economists: efficient reforms to foster growth in 2011

The rapid economic recovery and labour market stabilization in 2010 allows forecasting better growth also in 2011. However, it neither means «homework» has been done.

One-third more registered new cars in 2010

One-third more new cars were registered in 2010, compared to 2009, the business news portal BNN was informed by the Latvian Authorized Car Dealers’ Association (LACDA) President Andris Kulbergs.