Inkscape
An Open Source vector graphics editor, with capabilities similar to Illustrator, CorelDraw, or Xara X, using the W3C standard Scalable Vector Graphics (SVG) file format.
Inkscape supports many advanced SVG features (markers, clones, alpha blending, etc.) and great care is taken in designing a streamlined interface. It is very easy to edit nodes, perform complex path operations, trace bitmaps and much more.
LaTex: Extension 'textext'
Homepage: http://pav.iki.fi/software/textext/
New Latex element: Menu Extensions > Tex Text
Edit Latex element: 'Mark element' and again choose Menu Extensions > Tex Text