Posts published in Day: March 11, 2021

Latvian pharmaceutics companies want to build vaccine factory

Thursday, March 11, 2021

Three Latvian pharmaceutical companies – AS “Olainfarm”, AS “Grindeks” and SIA “Pharmidea” – want to build a factory for production of vaccines against Covid-19, said co-owner of “Pharmidea” Vitālijs Skrīvelis at the meeting of the Saeima’s Sustainable Development Committee March 10. According to him, due to restrictions on Covid-19, the Latvian economy has been stalled, although it has been done in order not to overload hospitals. But looking ahead, the pandemic…

Rīga airport passenger number down 95% in February

Thursday, March 11, 2021

In February 2021, the number of passengers serviced at Riga International airport fell to the lowest level since flights were resumed in May 2020, according to the airport’s data published March 11. 24,000 passengers were serviced in February, with the number of travelers decreasing by 95.1% compared to last year. In particular, transit flows continue to decrease – the number of travelers using the airport as a transit center to travel…

Latvia attracted EUR 1.25 billion on international finance markets

Thursday, March 11, 2021

On March 10, the State Treasury issued 10-year bonds on international financial markets, attracting financing of €1.250 billion with a yield of 0.105% and a coupon rate of 0.000,000%, according to the State Treasury’s release . These are historically the lowest maturity and coupon levels achieved in international markets in the issuance of Latvian debt securities, the Treasury said. The issuance of bonds of the Republic of Latvia has achieved the…

Latvian scientists obtain new purine compounds

Thursday, March 11, 2021

Scientists at Riga Technical University have discovered new methods to acquire purine compounds that could be used in medicine and technology, Latvian Television reported March 11. “Purines are natural substances. In fact, all of us are full of purines. They are “building bricks” for our nucleic acids. The caffeine we use everyday is also purine. There are many different products in nature,” said Māris Turks, dean of the RTU Material Science…

Latvian medical students worried about practical procedures remotely

Thursday, March 11, 2021

Medical students are concerned about learning medical manipulation remotely, like injections and anatomical procedures, Latvian Radio reported March 1 1. At the moment, all education is conducted remotely, only individual tutorials are available. This raises alarm for prospective medics who have to learn important procedures online. Lelde is a freshman student at medical college for a doctor’s assistant profession. “I want to actually learn to inject in the veins. I realize that it…

Latvian Central Bank profit in 2020 was EUR 26.6 million

Thursday, March 11, 2021

According to a statement March 11 by Latvian Central Bank Latvijas Banka, the bank’s profit for the year 2020 totaled EUR 26.6 million. This is roughly the same as in 2019, when it was 27.2 million euro. Latvijas Banka’s annual financial statements are audited by independent external auditors recommended by the Governing Council of the European Central Bank and approved by the Council of the European Union. Latvijas Banka has received a positive auditors’ opinion…

Kariņš: Latvia’s economic development should aim for industrialization

Thursday, March 11, 2021

Latvia needs to aim for “smart re-industrialization” in economic development, Prime Minister Krišjānis Kariņš said in his address to the Saeima March 11. In order to do this, the funds of the  European Recovery and Resilience Facility   should be aligned with the national industrialization policy, said Kariņš. The Prime Minister said that there is already an export-sustainable industry in Latvia, and during the Covid-19 crisis it “holds the country” while the…

Latvian tourism operator caught in illegal visa business

Thursday, March 11, 2021

The State Border Guard, in cooperation with the State Police and the State Revenue Service, has ceased large-scale illegal activity of a Latvian tourism agency in illegally arranged tourism visas to Europe for Uzbek citizens, the Border Guard said March 11. On March 2 this year, a Latvian citizen who was the Chairman of a tourism agency was detained, on allegations that from 2017 to 2020, he had submitted false information to the…

Last year 27% of Latvian households could not make ends meet

Thursday, March 11, 2021

Data published March 11 by the Central Statistical Bureau (CSB) show that   in 2020, 27.2 % of households covered their daily expenses with difficulties or with great difficulties. This is 1.4 percentage points less than in 2019, when 28.6 % of households had such difficulties. The share of households that covered their daily expenses with some difficulty or fairly easily has remained unchanged (62.4 % in 2019 and 62.8 % in 2020). In turn, the…

Estonian Finance minister: Capacity of supplementary budget is up to €700 million

Thursday, March 11, 2021

The government hopes to finish drawing up a supplementary budget bill in the coming weeks and take it to the Riigikogu. While the exact capacity of the extra budget is still not decided, it is likely to land somewhere between €500-700 billion, Minister of Finance Keit Pentus-Rosimannus said. Pentus-Rosimannus said the suuplementary budget’s main goal is supporting the healthcare system, maintaining jobs and slowing down losses of income. “We are…