Compared to April, the level of producer prices in Latvian industry grew by 0.4% in May. The prices of products sold on the domestic market increased by 0.3%, whereas the prices of exported products grew by 0.5%. The prices of products exported to euro area countries grew by 0.8% and of products exported to non-euro…
Saeima’s Budget and Finance Commission has expressed unanimous conceptual support for amendments to the Law on Taxes and Duties. These amendments provide for the introduction of electronic working time tracking system in construction, Saeima’s press-service reported. Finance Minister Dana Reizniece-Ozola told members of the Saeima that a solution for electronic working time tracking was achieved…
At the end of Q1 there were 15.7 thousand job vacancies in the country, and the indicator has risen by 1.9 thousand, or by 13.6% YoY and by 1.3 thousand, or by 8.7% QoQ. The number of job vacancies and the share thereof in the total number of posts (vacant and occupied) has been growing…
Azerbaijan is an important partner for Latvia, both in economic and political terms, said Latvian Transport Minister Uldis Augulis. He made the remarks at a meeting of the Latvia-Azerbaijan Intergovernmental Commission for Economic, Scientific, Technical and Cultural Cooperation in Baku on June 20. The minister said there were many spheres that had big potential for…
The role of international business service centers keeps increasing in the global economy. In Latvia, however, their potential remains largely unexplored, says New Hanza City project’s developer Pillar representative Guntars Cauna. Business centers’ specifics are dictated by their functions, says Cauna. The most common functions are accounting or wage management, data processing and functions that…
On June 16, Latvian airBaltic airline received the fifth Bombardier CS300 aircraft. By the end of 2017, airBaltic is planning to have eight CS300 aircraft. The fifth airBaltic CS300 aircraft, registered as YL-CSE, arrived in Riga on June 16. The flight time was 7 hours and 56 minutes and the aircraft covered 6419 km non-stop…
Compared with the same month of last year, Latvia had the fourth highest inflation index among EU member states in this year’s May, according to data from Eurostat. Last month, consumer prices in Latvia were 2.7% higher when compared with May last year. Inflation was only higher in Estonia (+3.5%), Lithuania (+3.2%) and the UK…