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Wednesday 17.01.2018 | Name days: Tenis, Dravis

The Latvian Shipping Company: low point phase is over

According to the concern A/S Latvijas kuģniecība (The Latvian Shipping Company) semi-annual report, company’s loss in the first six months of 2010 has reached 25.2 million dollars (13.9 million lats).

Billionaire imprisoned for taking bribes

Beijing court has sentenced one of the wealthiest men in China to 14 year imprisonment, as well as, to 100 million euro large fine for taking bribes.

If files complaint against SFS insurance tender

The insurance company If P&C (If) has filed a complaint to Latvian Procurement Monitoring Bureau (LPMB) concerning the results of The State Forest Service(SFS) public tender for its employees' health insurance.

Kampars: In four years there will be 50 firms per 1000 inhabitants

The implementation of microenterprise support programs will enable a qualitative leap in business activity indicators in the following four years, and ensure that the amount of enterprises per 1.000 inhabitants in Latvia at least reaches the average ratios of European Union (EU).

Iraq war cost - 700 billion dollars

Economists have estimated that the cost of Iraq war exceeds one trillion dollars. U.S. official expenditures amount to 700 billion dollars. Moreover, these calculations are not definitive, the costs will continue to rise in the following years and decades.

Studies affirm: two drinks a day extend life

Recent studies confirm that elderly adults, who daily consume two or three glasses of wine, beer or cocktails, are said to live longer than abstainers.

Zigurs: debts will be paid until next heating season

The amount of Riga residents heat debt amounts to 5 million lats, but it will be paid by the beginning of the next heating season, states the Chairman of Rīgas Siltums Aris Zigurs (Āris Žīgurs).

Expert: wages will go up next year

The economy expert of Latvijas Banka, Olegs Krasnopjorovs (Oļegs Krasnopjorovs), maintains that in the next year a sustainable salary growth is awaited in Latvia, as entrepreneurs will return to the initial premium wage system.

Skonto būve half-year consolidated profit - 6.98 million lats

Last year, the construction company Skonto būve consolidated profit after taxes and before minority interests amounted to 6.98 million lats.

Ventspils nafta half-year profit – 3.5 million lats

JSC Ventspils nafta consolidated net turnover in the first half-year of 2010 has reached 29 million lats.

Latvijas Krājbanka suffers losses in half year

Latvijas Krājbanka (LKB) has incurred 4.6 million lats loss in the first six months of the year, which is an increase of nearly three times.

People save on school items

Demand for school supplies this year, as compared with the previous year, has not changed. Still it is the price what matters.

New Business portal - BNN-NEWS.COM launched in Latvia

Starting from today, September 1st, new business portal in English BNN-NEWS.COM and its «Latvian brother» BNN.LV officially start work. Both Latvian and English portals will collect information on economic and business events in Latvia and foreign countries.

Japanese create a calorie-free beer

The Japanese have created the world’s first calorie-free beer, which contains zero calories. Experts have predicted that this invention will have success in the future.

IKEA to sell second-hand furniture on Internet

Retailing giant IKEA will create a section where, in collaboration with the Swedish website blocket.se, it will sell second-hand furniture.

Lukashenko seeks alternatives to Russian oil

The President of Belarus Alexander Lukashenko is seriously searching for alternatives to Russian oil, announcing that Belarus does not intend to fight with Russia in all the possible ways.

Latvia losing its competitiveness in logistics

In the recent months Latvia has been losing its competitiveness in transit logistics due to the risen costs in Latvia's transit corridor, indicates Aivars Taurins (Aivars Tauriņš), Logistics Association of Latvia Chairman of the Board, in BNN.LV interview.

Latvia has to be expert at custom matters of Russia

Latvian companies should be experts at custom matters of Russia, says Aivars Taurins (Aivars Tauriņš), Logistics Association of Latvia Chairman of the Board.

Mancinskis: the amount of problematic credits stabilizes

According to the Chief Executive of Swedbank Maris Mancinskis (Māris Mančinskis), together with increasing solvency, which is associated with the overall improvement of the economic situation, the amount of problematic credits is also stabilizing.

Despite unstable U.S. and EU market, L'OREAL profit increases by 21%

The world's biggest cosmetics manufacturer L'OREAL revenue in the first half of this year has increased by 21%. The following results were achieved due to resumed sale of luxury perfumes in Asia and South America.

airBaltic shareholders meeting disapproves new Board

National airline AS Air Baltic Corporation (airBaltic) shareholders in a meeting on August 31th decided to postpone the election of the new Board.

Obama: US economy grows slower than it should

The data on gross domestic product (GDP) growth, as well as on the construction output, have increased fears that the fragile US economy will fall back into recession or it will have to face prolonged recovery, which would be too slow and would not reduce unemployment rate.

Top prime minister candidates – Lembergs and Dombrovskis

Latvian society recognizes Aivars Lembergs (political party ZZS) and the current Prime Minister Valdis Dombrovskis (political party Vienotība) as the most popular proposed candidates for the post of Prime Minister.

Dzintars to focus on Russian, Ukrainian and Lithuanian markets

The cosmetic manufacturer AS Dzintars is planning to focus on Russian, Ukrainian and Lithuanian markets in near future. Last year, exports to Russia dropped by 62% because it was not possible to agree on a development concept and the cooperation with the distributor in Russia was terminated. This year, the company has managed to regain this market by opening Dzintars brand franchise stores.

Bank of England to set credit limitations in fears of new recession

The Bank of England, fearing new crisis wave, intends to introduce restrictions on the maximum amount of mortgage loan. In this way, the bank hopes to avert another financial crisis, while those who wish to get a mortgage, will have to open a special deposit account, issued by the creditor that will be 10 - 25% of property value.

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