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Monday 16.07.2018 | Name days: Hermīne, Estere

European Parliament members support tighter cooperation in fight against VAT fraud

On Tuesday, 3 July, European Parliament called for ensuring tighter cooperation between their tax supervisory institutions and responsible EU institutions, as well as compiling EU level statistical data on VAT fraud.

Percentage of shell companies’ deposits in Latvia drops to 0.5%

Since March/April, the number of shell companies among bank clients in Latvia has declined rapidly. Currently the percentage of shell companies’ deposits in Latvian banks does not exceed 0.5%, as reported by Finance and Capital Market Commission.

Work group proposes limiting doctors’ ability to provide state-funded services in several hospitals

A specially formed work group in Latvia proposes limiting doctors’ ability to provide state-funded services in several healthcare institutions, as mentioned in the report on provision of state-funded healthcare in state, municipal and private healthcare institutions.

Barometer: knowledge and competence are what is most important in business

When asked to describe factors that contribute or impede sustainable business development, respondents mentioned that businessmen’s knowledge and competence are two of the most significant contributing factors, whereas high taxes are usually what holds back development, according to data from the latest Latvian Barometer Study by Baltic International Bank.

Volume of foreign deposits in Latvian banks down to a quarter

The volume of foreign deposits in Latvian banks, including ABLV Bank in the middle of its liquidation, declined to 28.7% in June when compared to 39.7% at the end of 2017, according to the latest information from the Finance and Capital Market Commission.

152 soldiers from Slovakia join NATO combat group in Latvia

In response to the decision made during the 2016 NATO summit in Warsaw on the formation of a multi-national battalion-level combat group in Baltic States and Poland, 152 soldiers and several types of armoured vehicles from Slovakia have arrived in Latvia, as confirmed by Defence Ministry.

Nordica airline reaches EUR 0.9 million profit in its second full year

Estonian national airline Nordica has registered a 0.9 million profit in its second full year of operations, despite being expected to accumulate losses to the amount of six million euros, the company announced.

Latgale party allows members pick candidate lists for elections

The board of Latgale party has decided to allow its members to pick candidate lists in which they will start in upcoming 13th Saeima elections, as confirmed by the party’s chairman Aldis Adamovičs.

Estonian energy progressing in renewable energy sources

As Estonia's national energy giant Eesti Energia offers its customers to opt for electricity coming from renewable sources, the contracts with the green option are said to have risen three times in 2017 and 2018.

Five people detained for dishonest Eastern state border procurements

Latvia’s Interior Affairs Ministry and Internal Security Bureau have detained five people under suspicion of illegal activities in public procurements – two State Border Guard officials and three private persons, as confirmed by Internal Security Bureau chief’s assistant Diāna Petersa.

SEA invites employers to apply for employee training

Latvia’s State Employment Agency continues accepting applications from employers for training of necessary employees as part of European Social Fund’s project Workplace training.

New Unity reportedly suffered biggest rating decline in June

Among political parties in Latvia, the largest rating growth was experienced by Harmony in June, whereas the largest rating decline was suffered by New Unity, according to results of a survey by SKDS.

Base capital of two New Hanza Capital Group companies is reduced

On 27 June, base capital reduction was registered in the Enterprise Register for two ABLV Bank Group’s investments in commercial property in New Hanza Capital Group companies – SIA NHC 1 and SIA NHC 3, as detailed in New Hanza Capital statement to Nasdaq Riga.

Unemployment level in Latvia was higher than EU’s average in May

In May 2018, unemployment in Latvia was 7.4%, which is higher than the average level in the European Union, according to data for 24 member states published by Eurostat.

PHOTO: Lampa festival gathers record-large number of visitors

The fourth Lampa festival has passed with active discussions and exciting events. This year’s number of participants was record-large this year – more than 16,000 people visited Cesis on Friday and Saturday. Another 47,000 observed the festival through online streaming, as reported by Lampa festival’s coordinator Irīna Kuzņecova.

Norvik Banka adopts Google Authenticator for internet banking services

From July 2018 onward, Norvik Bank will be using a new authorization tool for internet banking services – Google Authenticator, as confirmed by the bank.

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