International Internet Magazine. Baltic States news & analytics
Monday, 24.10.2016, 17:03
Gas interconnector between Finland and Estonia will boost security of supply and bringing economic lift to the region. When the gas starts flowing in 2020, the project will unite the Eastern Baltic Sea region with the rest of the EU energy market. This and other project are parts of the EU’s energy union and aim at building missing energy links, improving supply and ending the energy isolation of the Baltic States.
Keyword tags: Analytics, Baltic, Construction, Energy, Energy Market, EU – Baltic States, Markets and Companies, Modern EU
Even though in the past three years there has been a positive trend in employee satisfaction with their wages, still more than 60 % of employees in Latvia believe they are not paid appropriate wage, according to a poll conducted by CV-Online Latvia recruitment company informs LETA.
Third United Nations Conference on Housing and Sustainable Urban Development (Ecuador, the City of Quito) has been truly historic: the New Urban Agenda was adopted. It also reflects the EU's vision for sustainable urban development, by calling for an integrated approach with accent on cities’ diversity and urban-rural linkages.
Overweight or obese adults make up 21.3 percent of Latvia's population, which is the second highest figure in the European Union (EU), according to the latest data from Eurostat.
Following the plan on completing Europe's Economic and Monetary Union, the Commission decided last October to set up a European Fiscal Board as an independent advisory board on fiscal matters. The Board consists of five “fiscally-wise persons” and will start working soon.
Several years ago "economics guru" could argue that economic growth is hindered by "expensive money". Nowadays, with historically low interest rates and Latvian commercial banks literally rolling in money (having 3 billion euro on corresponding accounts with Latvijas Banka), the economic growth is indeed weak. Despite the fact that politicians have been mentioning the word "reforms" for years and the need to address bottlenecks in crucial sectors is obvious to everyone, little is being done in reality, and the majority of true reforms die out because of red tape.
The recovery of the dairy market will depend on oil prices and the decline of milk production volumes in southern Europe and New Zealand, Raimondas Karpavicius, chairman of Marijampoles Pieno Konservai operated by Russian-Liechtenstein joint venture Eksimeta, told Verslo Zinios business daily writes LETA/BNS.
Construction price index took an upturn in the 3rd quarter due to the increasing costs of construction materials
According to Statistics Estonia, in the 3rd quarter of 2016, the construction price index increased 0.7% compared to the 2nd quarter of 2016 and fell by 0.7% compared to the 3rd quarter of 2015.
According to a survey carried out by the employment portal cvmarket.lv, 86 % of employees in Latvia have official employment contracts and pay all taxes, informs LETA.
In August 2016, Latvia’s current account had a surplus of EUR 0.03 bln, which was the second smallest surplus among EU member states, reporting their current account data, the EU’s statistics office Eurostat informed.
Alcohol bought in Latvia makes up roughly 6 % of the total amount of booze bought by Estonians, whereas in South Estonia the ratio is as high as 18 %, a survey taken by Emor in mid-August indicates informs LETA.
Demographic trends are going to have the most significant impact on the Baltic real estate market in following years, Morten Hansen, the head of the Economics Department at the Riga Faculty of the Stockholm School of Economics, said at the Baltic Real Estate Leaders Forum today.
According to Statistics Estonia, in September 2016, the producer price index of industrial output changed by 0.1% compared to August 2016 and by -0.9% compared to September 2015.
The average age of automobiles in Latvia is the second oldest in Europe, furthermore, major defects are found in 50% to 80% of automobiles during the annual vehicle inspections, as Janis Liepins, head of the Road Traffic Safety Directorate's Vehicle Technical Control and Certification Inspection, told Saeima Mandate, Ethics and Submissions Committee today, writes LETA.
Data of the Central Statistical Bureau (CSB) show that 63.5 % of enterprises1 in Latvia had a website at the beginning 2016, which was 4.5 percentage points more than in 2015. Similarly to previous years, at the beginning of the present year a website was set up by most of the accommodation service and information and communication service providers (95.6 % and 93.6 %, respectively). In turn, retail enterprises (48.4 %) and enterprises of the transportation and storage sector (42.9 %) did not have as many websites.