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Monday 23.07.2018 | Name days: Magda, Magone, Mērija

Retail trade turnover in Latvia up 7.1% in January

Compared to January 2017, total retail trade turnover rose by 7.1 % in January 2018. Turnover of retail trade in food products increased by 6.9 %, turnover of retail trade in non-food products, except for retail sale of automotive fuel, rose by 8.9 %, whereas turnover of retail sale of automotive fuel – by 3.1 %.

HIV Association: situation with HIV did not improve at all last year

371 new cases of HIV infection were registered in Latvia in 2017. This is six cases more than the year before. The number of new AIDS cases increased slightly. The most worrying tendency is associated with the causes behind the spread of HIV – more than one-third of registered HIV cases have unknown cause of infection, as reported by Baltic HIV Association.

Estonian economy experiences its fastest growth in five years

Estonia's economy expanded by 4.9 % in 2017 to a gross domestic product of 23 billion euros, which has been the quickest pace of the country's economic growth in five years, estimated Estonian statisticians.

Government supports development plans for cross-border package handling facilities

Latvia’s government supports development plans for cross-border postal packages processing facilities, as confirmed by Transport Ministry’s representatives.

ABLV Bank: 300 people to lose jobs next week; construction of New Hanza Quarter disrupted

Next week, 30% or 300 people will lose their jobs in ABLV Bank, as confirmed by the bank’s chairman Ernests Bernis. Among those people are highly-qualified workers – financiers, marketing specialists and others. The bank’s representative adds that this means families that have a total of 700 children under the age of 12 will suffer lay-offs.

Limitation of Bank of Latvia governor’s duties to be coordinated with ECB

Saeima’s Budget and Finance Committee has agreed to continue the discussion in regards to amendments to the Law on the Bank of Latvia. Those amendments provide for limiting the term of the governor of the Bank of Latvia. Amendments will have to be coordinated with European Central Bank.

Will Latvian political parties pay back money donated by ABLV Bank’s officials?

Parties of the ruling coalition in Latvia, including the Union of Greens and Farmers (UGF) and Unity (U), should pay back donations they received from ABLV Bank, says Latvian Association of Regions (LAR).

40% of notaries in Latvia have dealt with consequences of fraud

In the last two years, nearly 40% of notaries in Latvia have had cases in which their clients complained about fraud. Both Latvian Sworn Notaries Council and State Police admit that modern crimes continue changing, as does the profile of victims.

Opinion: ABLV Bank’s self-liquidation will benefit Latvia’s economy

Self-liquidation process of ABLV Bank will be beneficial for Latvia’s economy, said corporate financial company Prudentia partner Ģirts Rungainis in an interview to Latvijas Radio.

Russian authorities ban Estonian 100th anniversary event in Pskov Oblast

Local authorities in the Pskov Oblast in Russia, which borders Estonia, have barred an Estonian Independence Day reception in Pechory to be organised on March 2 by the Estonian General Consulate in St. Petersburg.

«Tough decision» – ABLV Bank shareholders decide to liquidate the bank

To ensure protection of clients’ and creditors’ interests and considering the decision made by the European Central Bank on commencement of the liquidation process, ABLV Bank shareholders made the decision on Monday, 26 February, to liquidate the bank.

UN calls for immediate implementation of Security Council-backed ceasefire in Syria

The Secretary-General of the United Nations, Antonio Guterres urged warring sides in Syria to immediately enforce a 30-day ceasefire in the war-torn country backed by the UN Security Council past weekend.

Administrator fight: who will be in charge of ABLV Bank’s liquidation?

Current laws provide that the post of the person who will lead the bankruptcy process for ABLV Bank will be very profitable. Candidates are currently being considered. It should be added that ABLV Bank’s credit portfolio had exceeded EUR 2 billion in 2017, as reported by Nekā personīga.