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Sunday 25.06.2017 | Name days: Maiga, Milija

Europe faces milk production drop

Latvian dairy sector is currently facing both, decrease in number of producers and milk production, the same situation is witnessed throughout the whole Europe, according to the latest European Commission report.

Car insurance to be more expensive in 2011

After a huge drop in prices within two years’ time – for OCTA (about 50%) and KASKO (about 20%) policies – the insurers expect a return to the climb in prices next year. OCTA price is likely to increase even by 30%, but KASKO – by 20%.

Political scientist: ministers «rotate» due to weak politicians

The political parties and their named minister candidates are weak, the political scientist Andris Runcis informs the agency LETA about his view on the future government representatives from The Greens and Farmers Union (Zaļo un Zemnieku Savienība, GFU).

Exclusive payment card World Signia to be offered by Rietumu Banka

Rietumu Banka offers customers exclusive payment card World Signia which has all the credit card features and functions together with a unique support service available virtually in any world language, as well as a variety of extra advantages, the business portal BNN was informed by Rietumu banka.

Economist: selling Citadele and Parex Bank could reduce the state debt

By selling the almost entirely state-owned AS Parex banka and the created AS Citadele banka as its reorganisation result the state could exempt the currently frozen state deposits at both banks and reduce the state’s external debt, indicated Nordea Bank senior economist Andris Strazds.

Corruption Prevention Bureau Head orders searching his deputy's office

After the agency LETA had interviewed Corruption Prevention and Combating Bureau (CPCB) deputy chief Alvis Vilks, an official investigation was launched, as the Head of the Bureau Normunds Vilnītis ordered searching his deputy's office to find the recording of the interview.

Growing number of passenger turnover at Latvia’s ports and airport

Over the nine months of 2010, the number of passengers at the Passenger Port of Riga, Ventspils, and Liepaja, as well as, at Riga International Airport has increased, indicates the Central Statistical Bureau data.

Survey: 51% of Latvia residents support AFL–FFF/LNNK non-inclusion in coalition

More than a half of the respondents in the economically active population of Latvia support the party association Unity decision not to include the party All for Latvia – For Fatherland and Freedom/LNNK in the new coalition, indicate the survey conducted by TNS Latvia and LNT broadcast 900 sekundes.

Ryanair to rise fares by almost 10%

Ryanair has raised its profit forecasts of the financial year, therefore passengers will have to face more expensive fares this winter.

Decreasing volumes of rubber might result in condoms price climb

Considering natural rubber deficit, the cost of tyres, gloves and condoms could rise by 65%.

Reflecting vests to be mandatory for drivers in Latvia

If the vehicle drivers will have to go out on the road or on the side of the road in case of emergency stop, low visibility and during the hours of darkness, they will have to wear clothes of reflective material such as a vest.

Estonian tax policy attracts foreign businessmen

«Estonia has the best laws, good banks, cheap accounting services and less bureaucracy than in, for example, Germany and Lithuania. But the most important thing is that there is no income tax,» points out Euroalliance, a Lithuanian company registered in Estonia, Board Member Nerijus Strumila.

Latvian ports cargo turnover drops by 3.4%

Over the nine months of 2010, the cargo turnover at Latvia’s ports comprised 45.5 million tons of cargo, which is by 3.4 % less than during the first three quarters of 2009.

Competition Council imposes 11 695 lats fine for technical oils and liquids price fixing

The Competition Council has imposed a 11 695 fine on the companies United oils and United oils Vidzeme for fixing prices of technical oils and liquids.

Moscow Mayor changes Council’s working time to reduce traffic jams

The Mayor of Moscow Sergey Sobyanin, who has been in this post already for two weeks, has ordered the City Council’s employees to start work an hour earlier due to the wish of reducing traffic congestion in the Russia’s Capital.

Americans blame Obama for economic downturn

Most of Americans are convinced the policy implemented by the United States (US) President Barack Obama is to be blamed for the economic downturn.

Sharp coffee price rise expected

Along with a drop in demand, caused by prolonged heavy rainfalls in India and poor harvest in Vietnam, sharp rise in coffee prices is awaited.

Unpaid taxes in Estonia hit 751 million kroons this year

During the period from January to September the Estonian Tax and Customs Department has found undeclared and unpaid taxes at the extent of 751 million Estonian kroon (33.7 million lats).

Kolonna founder Plaude-Relingere claims insolvency

Holding Kolonna founder and shareholder Ieva Plaude-Relingere claimed insolvency at Riga City Vidzeme District Court in late October.

Medicine traders and producers relations worsening may result in price climb

The relations between medicinal product producers and traders growing worse, the medicinal products are likely to become more expensive, while the medicines at pharmacies – less available.

Latvia Finance Minister Candidate: public sector funds should be saved to balance 2011 budget

In order to balance the next year’s budget, firstly, the public sector reforms should be implemented with the aim of economizing as much as possible on the spending, and only after these reforms take place the tax raise should be undertaken, believes Andris Vilks, the Candidate for the Minister of Finance post.

Latvian Taxi Company Employers’ Association Head: taxi industry to turn «upside down»

In two months, Latvia taxi industry is to experience significant changes finally enhancing the market arrangement.

Merkel arranges Latvia President a visit to Moscow

The President of Latvia Valdis Zatlers will manage to pay an official visit in Moscow this year. Riga Castle will be able to plan the visit more seriously than ever before due to the German Chancellor Angela Merkel who has convinced the Kremlin to welcome Valdis Zatlers and his delegation.

Baltic real estate bought the most by banks’ companies

This year the most active real estate buyers in the Baltics are banks’ real estate companies.

Latvia President: the economy’s biggest problem – low domestic competition

The main problem of Latvia’s economy is the low domestic competition, ascertains the President of Latvia Valdis Zatlers.

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