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Friday 06.12.2019 | Name days: Niklāvs, Niks, Nikolajs

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.

Fuel price gains to halt soon

There are no objective reasons for fuel prices to keep surging. The current fuel price in North Eastern Europe is a couple of percent lower than several weeks ago. Moreover, US dollar has dropped as well, which should drag down fuel prices even more.

77% of Latvia population support passenger carriers’ protest

77% of the economically-active residents of Latvia, aged 18 to 55 years, support the passenger carriers’ warning protest campaign on Thursday, March 24.

Food producers no longer can purchase sugar bags

Latvian producers fear it is no longer possible to purchase large quantities of sugar bags for food production needs, as wholesale companies are now only offering 1kg sugar packs.

Fuel gains claim Estonian drivers additional 450 euro

Due to the rapid fuel price gains over the last two years, an average Estonian family driving more than 40 kilometres per day has lost nearly 450 euro. Fuel prices are fluctuating slowly and consumers do not feel sharp changes at once.

Economist: Lithuanian economy gained the most among the Baltics over the decade

In terms of economic growth rates over the past decade, Lithuania was the biggest winner among the Baltic States, SEB Bank's macroeconomic expert Dainis Gašpuitis points out.

Latvia sells 8 million lats government securities

On March 23, ten-year domestic government bonds were offered with maturity February 4, 2021. Eight million worth government securities were sold.


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