Latvia

Shipwrecked Lithuanians rescued after three day Baltic ordeal

Riga - Details emerged Friday of a remarkable rescue off the Latvian coast after three Lithuanian yachtsmen spent three days adrift on a breakwater.

All three were rescued Thursday night by the Latvian coastguard after enduring 72 hours of stormy seas and freezing temperatures without food and water trapped off the Latvian port of Liepaja.

According to local media reports, the three Lithuanians were a man, 46, his 22-year-old son and a 20-year-old friend.

After buying the yacht in Sweden, they sailed for the Lithuanian port of Klaipeda on the opposite side of the Baltic Sea, but were surprised by a storm off the Latvian coast and shipwrecked.

Baltic bourses to work longer hours to boost business

NASDAQRiga - NASDAQ OMX Group announced Thursday that it plans to extend the trading hours at its three Baltic exchanges in Tallinn, Riga and Vilnius.

The move comes as the tiny stock exchanges try to attract back investors who fled in the face of a sharp economc downturn in the region.

Trading hours will be extended by two hours from the current 2 pm closing time to give traders a six-hour day starting at 10 am.

At present, traders in Estonia, Latvia and Lithuania enjoy one of the shortest working days among financial centres.

The new regime will come into effect from February 2 next year.

Latvia celebrates 90 years since it first declared independence

Latvia Riga MapRiga - Four regional presidents were to visit Latvia Tuesday to help the small Baltic republic celebrate 90 years since it first declared its independence from Russia.

President Valdis Zatlers of Latvia will be joined by presidents Toomas Hendrik Ilves of Estonia, Valdas Adamkus of Lithuania and Lech Kaczynski of Poland, who will speak at the Latvian freedom monument in the capital, Riga.

The extensive programme of public celebrations, under way for several days, will conclude with a fireworks display over the River Daugava.

Belarus prime minister visits EU member Latvia

Big energy bills keep inflation high in Latvia Riga - The prime minister of Belarus, Sergey Sidorski, took advantage of his new-found freedom to travel Wednesday by visiting neighbouring Latvia in his first official trip to a European Union member state since travel restrictions on members of the Belarusian government were lifted on October 13.

Transport and business were on the agenda when Sidorski met his Latvian counterpart, Ivars Godmanis, but no mention was made of sensitive issues such as human rights or missile systems.

Tuesday sees another painful session on Baltic markets

Baltic markets still shaky, but investors starting to returnRiga - Prices tumbled again on Baltic stock markets Tuesday with the Baltic Benchmark Index (BBI), combining data from the Tallinn, Riga and Vilnius exchanges, closing down 3.2 per cent at 270.22.

The NASDAQ OMX Tallinn exchange in Estonia fell 3.22 per cent, the Vilnius exchange in Lithuania slipped 2.74 per cent and the Riga exchange in Latvia eased by 1.37 per cent.

European Commission green light for Latvian bank bail-out

European Commission green light for Latvian bank bail-out

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