Riga – The capital of Latvia is the prettiest European City

10best readers choosed Riga as the prettiest European city.

Riga, the capital of Latvia and the 2014 European Capital of Culture, is only beginning to get the attention it deserves. The “Gem of the Baltics” combines a pulsating big city vibe with a UNESCO-listed Old Town and one of Europe’s richest cultural scenes. Architecture buffs will recognize Riga as home to Europe’s largest collection of Art Nouveau buildings.

The winners in the ‘Prettiest European City’ contest category for 10Best Readers’ Choice are as follows:

1. Riga, Latvia
2. Bergen, Norway
3. Innsbruck, Austria
4. Dubrovnik, Croatia
5. Chester, England
6. Prague, Czech Republic
7. Budapest, Hungary
8. Santorini, Greece
9. Venice, Italy
10. Bruges, Belgium

Latvia is also one of the best places where to set up business in Europe, because there are one of smallest tax weight in whole EU. More about company formation you can read on section Company formation.

Issuing the Parity Coin

On 6 November, the Bank of Latvia issued a new special 1-lats circulation coin, the Parity Coin, featuring the exchange rate of the lats to the euro on the reverse. It is legal tender in the Republic of Latvia. These coins will be put into circulation like any other circulation money, reaching commercial and other enterprises as well as population through banks.

The Bank of Latvia commenced minting special 1-lats circulation coins 12 years ago, and theParity Coin concludes the cycle. As of 1 January 2014, Latvia will introduce the euro and become a fully-fledged member of the Economic and Monetary Union; nevertheless, the tradition to issue special circulation coins will continue. A coin with an image of a stork opened the series, and since 2004 a new coin to mark a special occasion has been put into circulation twice a year. The Parity Coin is the 23rd special 1-lats circulation coin.

Some deals can be already done in euros, for example, share capital of Latvian company can be expressed now also in euro. More you can read section on company formation in Latvia.

The central motif of the Parity Coin resembles a tree trunk keeping roots and branches, the earth and the sky together. It symbolises a road leading to new challenges, dreams and opportunities.

The reverse of the new 1-lats coin shows a symmetrical mirror image of numeral "1", a component of the inscription "1 LATS" and "1,42 EIRO". The obverse displays the number 2013, the year of minting, below the coat of arms of the Republic of Latvia. In terms of edge, size, metal or weight, there are no other distinctive features between the new coin and its other 1-lats circulation counterparts.

The total circulation of the coin is 500 000, and, like all other special 1-lats circulation coins, it will not be supplemented.

Latvia's unemployment level is the lowest since the crisis

Latvia’s level of unemployment was 9.1% of the total number of economically active residents, as noted by Director of State Employment Agency Inese Kalvāne.

In her interview to Latvijas Radio, she noted that Latvia’s unemployment level is relatively low. “Ever since the end of beginning of the crisis, the level of unemployment in Latvia has reduced two times,” – she said.

“People tend to find jobs more easily this year – there were 79 thousand people who registered as unemployed persons throughout 2013. 95 thousand people had lost their status of unemployed person. 63.1% of them lost this status because they managed to find jobs,” – she said.

She reported that unemployment levels of Latvia’s regions differ. The situation is the best in Riga and Ventspils (7.6%). Liepaja’s unemployment level is slightly above average – 9.2%.

Kalvāne also added that more than 1,000 people could end up jobless in Liepaja because of the insolvency process at Liepājas metalurgs.

More than 120 former employees of LM have registered at SEA as unemployed persons. Other formed employees of LM are advised to do the same. According to Director of SEA, this will increase their chances of finding jobs. The situation in Liepaja does not provide for many vacancies related to metallurgy. SEA has met with the current Board and trade union of LM to discuss the employment situation. “We have reached an agreement on the necessary course of action when the insolvency process has been completed: what people should do, when they should come to SEA, how to register, what they should know about the services available to them,” – Kalvāne explained.