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Saturday 26.05.2018 | Name days: Varis, Eduards, Edvards

China to lend Belarus a billion dollars

Chinese and Belarus governments agreed June 14 upon a joint project exceeding a billion dollars - the sum financed by China.

Roubini forecasts storm for global economy

Nouriel Roubini, world famous economist, gives 30% chance American financial challenges, China slowdown, European debt crisis and Japan stagnation will evoke «a perfect storm» in 2013.

Expert: growth to accelerate in second quarter

Despite the quite sluggish first quarter performance and politic instability in Latvia, growth rates are expected to accelerate in the middle and second quarter of the year, says Andris Strazds, Nordea Bank senior economist.

Transport Minister: Flick must take responsibility for situation in airBaltic

According to the existing shareholders agreement, Air Baltic Corporation (airBaltic) CEO and private shareholder must take full responsibility for the situation in the Latvian national airline airBaltic, Uldis Augulis, Transport Minister, told today, June 14, in a press conference.

Economists: price gains to stop next year

Global price gains boost inflation, but we expect this will halt next year and prices will hit their maximum in 2011, dropping from the current 5% down to 2.5% in Latvia, Lithuania and 3% in Estonia, Swedbank economists say.

Economist: inflation expectations allow businessmen to raise prices

Currently, more people expect price gains, not stability or drop, which means businessmen have a chance to raise prices more easily, because they know people will accept them any way, Martins Kazaks, Swedbank economist, told the business news portal BNN, when asked whether inflation expectations boost price gains.

Rimi: pre-crisis levels still far away

Over 600 thousand people became Rimi loyalty card holders, new shops are being launched and the situation is gradually improving, however, it will still take several years to return to pre-crisis levels, Zane Enina, head of Rimi Latvia Marketing and Public Relations department told the business news portal BNN.

Government borrows 2 500 lats to finance budget deficit

Latvia governmental debt hit 45% of GDP in late 2010, which means the government has borrowed over 2 500 lats per capita, says Uldis Rutkaste, deputy head of the Bank of Latvia Monetary Policy Department.

S&P cuts Greece rating to lowest in the world

International credit rating agency Standard & Poor’s has downgraded Greece rating by three notches, thus it is currently the lowest-rated government debt in the world.

Latvian typography wins in Norwegian national company's tender

Latvian typography United Press has won in the tender organized by a Norwegian state-owned company, thus, voicing concern in the entire Norwegian polygraphic market.

Finance Minister: tax rise is not planned

It is currently not necessary to raise taxes, however we will need one budget consolidation, says Andris Vilks, Finance Minister.

New head of President’s Office – Gundars Daudze

The newly elected President of Latvia Andris Berzins has chosen Gundars Daudze, the Saeima co-Chairman, to head his office. Berzins approves of Daudze’s experience in heading the 9th Saeima and believes it will also be useful in managing the presidential office.

Estonians invest in Lithuania

Estonian investors prefer placing money in Lithuania, with their total investments in the country exceeding the ones placed in Latvia in 2010.

Crude drops on fear of slow recovery

Crude oil dropped on Monday over investors' fear of the slow United States of America and other countries' economic recovery and the fact Saudi Arabia plans to boost oil exports.

Refusal to launch criminal proceedings against Economy Minister

Corruption Prevention and Combating Bureau has refused to start criminal proceedings against allegedly unlawful activities of Artis Kampars, Economy Minister, according to Aleksandrs Sakovskis, parliamentarian from the political party Harmony Center.

Capitalia: million from venture capital fund means 50 new jobs

Each million invested by a venture capital fund created 50 new jobs, says Juris Grisins, Board Chairman of Latvian Venture Capital Association and head of investment company Capitalia. He also points at the Latvian Achilles' heel in the competition with the neghbouring countries - it is difficult to single out a sector Latvia could stand out with among the Baltics. However, energy sector has managed to attract investors' interest.

Anti-corruption bureau: municipalities lack controlled use of service cars

28% of Latvian municipalities have not developed a procedure in terms of the use of state assets, which leads to many of them being used for private needs.

Lukashenko regards dollars and euro mere pieces of paper

Belarusian President Alexander Lukashenko thinks the key world currencies - the US dollar and euro - are just pieces of paper.

83% of Latvian households do not have any savings

If back in early 2010, the welfare level of Latvians was mostly hit by salary cuts, it is food and other basic necessities price gains since the 3rd quarter of the last year. Moreover, four fifths of Latvian households do not have any savings at all.

Fazer Group sells Fazer Amica Latvia

Today, June 13, Fazer Group signed a purchase agreement on selling its branch in the Baltics Fazer Amica Latvija, Baiba Gulbe, Fazer representative, told the business news portal BNN.

Easy to avoid limitations of alcoholic beverages commercials

Members of the Association of Alcohol Producers and Traders believe limitations and regulations in terms of alcoholic beverages should apply to all types of spirits as it is alcohol after all.

Unemployment rate in May - 13.2%

In late May, registered unemployment rate in Latvia dropped to 13.2% of all the economically active population. If comparing to April, 2011, the unemployment has dropped 0.7%.

Economy Minister: next Saeima to decide upon Lattelecom and LMT sale

Next Saeima and government should take a decision regarding Lattelecom and LMT privatization, says Artis Kampars, Economy Minister.

Amigo: people no longer understand what they pay for

Compex tarrifs have contributed to people getting lost in the huge offer, so they no longer understand what they pay for, says Artūrs Freimanis, ZetCOM Board Chairman. The company is mostly known for its pre-payment card Amigo. He told the business news portal BNN many people overpay for services that make part of the set they do no even use.

Latvia residents in Ukrainian money laundering schema

Ukrainian law enforcement authorities have identified a grouping, which had been laundering money via impressive public orders. Moreover, members of it are citizens of Latvia.

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