Archive for December, 2011
Latvian Monetary Financial Institutions Earn EUR 111.7 Million Profit in Jan.-Nov.
By Latvia Today at 27 December, 2011, 6:31 pm
Latvian monetary financial institutions (mostly banks) have earned profits totaling 78.5 million lats (EUR 111.7 million) in the first 11 months of 2011, as opposed to losses during the same period last year, announced the Bank of Latvia, the Baltic News Service reported. According to the Rīga-based newswire, in November of this year the monetary [...]
Read More >>Latvian Entrepreneurs Have Boosted Export Potential in 2011
By Latvia Today at 27 December, 2011, 6:29 pm
In spite of the economic crisis, Latvian entrepreneurs have manage boost their export potential this year, Jānis Endziņš, board chairman of the Latvian Chamber of Commerce and Industry, told the Baltic News Service, adding that Latvia’s foreign trade indicators have been steadily improving. According to the Rīga-based newswire, the head of the Latvian Chamber of [...]
Read More >>EU Signs Memorandum of Understanding with Latvia
By Latvia Today at 27 December, 2011, 6:26 pm
Olli Rehn, the European Commissioner for Economic and Monetary Affairs, signed the fifth and last Supplemental Memorandum of Understanding with Latvia on December 21, thus closing the adjustment program which was launched nearly three years ago, the Baltic News Service reported. “The people of Latvia have done an enormous work and shown great patience in [...]
Read More >>IMF: International Financial Aid Program is Delivering on its Main Objectives
By Latvia Today at 27 December, 2011, 6:24 pm
The international financial aid program is delivering on its main objectives, David Moore, the resident representative of the International Monetary Fund (IMF) in Latvia, said in an interview with the Baltic News Service. “The Latvian program is now delivering on its main objectives. If you look at what those objectives were at the start of [...]
Read More >>Latvia and Estonia Join Forces to Defend Direct Payments to Farmers
By Latvia Today at 7 December, 2011, 6:26 pm
On November 30, Prime Minister Valdis Dombrovskis in conversation with Estonian Minister for Agriculture Helir-Valdor Seeder agreed on common objectives of Latvia and Estonia in the multiannual financial framework of the European Union (EU) for 2014-2020 to achieve fairer conditions for direct agricultural payments. Latvia holds the view that it is necessary to set a [...]
Read More >>President of Latvia: Baltic States Ready for Any Economic Upheaval
By Latvia Today at 7 December, 2011, 6:25 pm
On December 1, at a news conference concluding his visit to Estonia to meet with the presidents of the Baltic states and Poland, Latvian President Andris Bērziņš welcomed the fact that the three Baltic states have a united position vis-a-vis the European Union’s Common Agriculture Policy and direct payments – something which has a direct [...]
Read More >>Bank of Latvia: Latvia’s Balance of Payments in the Third Quarter of 2011
By Latvia Today at 7 December, 2011, 6:24 pm
In the third quarter, the current account deficit of Latvia’s balance of payments amounted to 138.5 million lats (EUR 197.06 million) or 3.8% of the forecast GDP, reported the Bank of Latvia. According to the Bank of Latvia, some large purchases of investment goods made in July boosting the deficit on foreign trade in goods [...]
Read More >>Latvian and Lithuanian PMs: Visagina NPP is a Beneficial Project for the Baltic States
By Latvia Today at 7 December, 2011, 6:22 pm
On December 2, Prime Minister Valdis Dombrovskis and Prime Minister of Lithuania Andrius Kubilius in conversation confirmed that the Visagina Nuclear Power Plant (NPP) will be an economically viable and advantageous project for the people of the Baltic States. The most important prerequisite of Latvia for the construction of the Visagina NPP has been the [...]
Read More >>Foreign Minister Rinkēvičs: Latvia wants Germany’s Support in Debate on EU Finances
By Latvia Today at 1 December, 2011, 6:40 pm
On November 21, Foreign Minister Edgars Rinkēvičs made on a working visit to Germany. In a conversation with Dr. Guido Westerwelle, Federal Minister for Foreign Affairs of Germany, the Foreign Minister of Latvia commended the excellent political and economic relations with Germany. Minister Rinkēvičs expressed hope that Germany would support Latvia’s efforts to achieve a [...]
Read More >>Bank of Latvia Economist: Latvia Steps Down as “Champion” in EU Unemployment
By Latvia Today at 1 December, 2011, 6:39 pm
Latvia is gradually losing its front-runner position in terms of EU unemployment figures, reported Bank of Latvia economist Oļegs Krasnopjorovs. He observed that one-and-a-half years ago Latvia had the highest unemployment rate in the EU, but now, according to the results of the third quarter of 2011, it lags behind Spain, Greece, Lithuania, and Ireland. [...]
Read More >>
