According to the latest Eurostat data, hourly labor costs rose by 2.5 per cent in the Eurozone and by 2.7 per cent in the EU28 in the Q3’18 y/y. The corresponding numbers for the Q2’18 were 2.3 per cent and 2.7 per cent respectively.
This year Latvian tax authorities are investigating 131 money laundering cases. Recently, the European Central Bank has decided to increase its supervision of European banks at high risk of money laundering, including Latvian banks.
Rail Baltica’s woes to continue as Lithuanian Latvian and Estonian auditors launch a probe into the internal control systems and public procurement strategies of the company. At the same time, Baiba Rubesa, CEO of the joint venture, resigned.
The latest Global Innovation Index (GII) has classified the Baltic States highly. The Index ranks 126 countries and their innovative aspects within political environment, education, and infrastructure and business culture.