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Monday 28.05.2018 | Name days: Vilhelms, Vilis

Latvian industrial production output increases by 13%

In nine months of 2010, compared to the period January-September in 2009, the industrial production output has increased by 13%, according to working day adjusted data at constant prices.

Pfizer 3Q profit drops by 70% due to charges

The world’s major drugmaker Pfizer reported 3Q profit increase of 39% boosted by the purchase of Wyeth. Despite the positive indicators, the company's total costs contributed to net income drop of 70%.

Saeima approves Dombrovskis government

Valdis Domrovskis (Unity (Vienotība)) run government was approved on November 3 in an emergency session.

AS Ventspils nafta minority shareholders – ready for overthrow

It is intended to collect at least 40 million lats from Vitol Group enterprises Euromin Holdings, Eurotank Holdings Sarl and AS Ventspils nafta Council and Board Members on their property – oil and oil product reloading terminal – use without compensation.

Social network users could pay more for home insurance

Apartment owners who use such social networks as Facebook and Twitter will, possibly, have to pay more for the home insurance in the future.

Rita manufactures bulk of its production for H&M

The knitted-goods factory AS Rita exports 98%-99% of its production, more than half of it is manufactured for the Swedish clothing retail group Hennes&Mauritz, indicates the factory’s President Vladimirs Sazonovs.

Expert: Russia does not plan joining EU

Russia does not plan joining the European Union (EU) in near future, however Moscow supports multidimensional relationship full of respect, says Russian envoy in EU Vladimir Chizhov.

Package of explosives sent to Merkel

The German Chancellor Angela Merkel's office has received a suspicious package containing explosives.

Estonia Finance Ministry: GDP might reach annual 6% in Q3

On recovering from the most severe recession in the European Union (EU), Estonia will probably be able to increase its GDP to about 6%, compared to 2010 third quarter, due to growing export demand.

Latvia Prime Minister: government will start developing 2011 budget next week

The new government will start working on the next year’s budget already next week, indicates the Prime Minister Valdis Dombrovskis, adding that the budget should be drawn up until the New Year.

Economist: budget wrecks Latvia’s economy

We cannot devastate the economy at the expense of budget, though, to my mind, it is done purposefully and deliberately, the economist Raita Karnite pointed out.

Latvijas Finieris shareholders merging to sell their shares for higher price

Minority shareholder of Latvijas Finieris Armands Apfelbaums in inviting shareholders to merge, in order they could sell the shares at the highest possible price or gain influence in the Biķi family controlled company.

Economists: inevitable retirement age rise expects Latvia

Retirement age rise is one of the inevitable future decisions Latvia has to make, therefore it is very significant to inform people about the planned amendments in advance, believe economists.

New airport Riga terminal costs reduced by about 12 million euro

If airBaltic manages to successfully resolve their disagreements with the airport Riga, the new terminal could be completed by late 2013. Currently, the total costs of the project have been reduced from the initial 92 million euro to 80 million euro.

Nordea Markets: the recovery has restarted

After several difficult years in the Baltic States, Poland and Russia in terms of the growth, the crisis is over, Nordea Markets concludes in its latest Baltic Rim review.

Seminar on new insolvency proceedings regulation to be organised

The Ministry of Justice and the state agency Maksātnespējas administrācija in cooperation with the International Monetary Fund will organise an informative seminar on the new insolvency proceedings regulation on November 3 and 4, the business portal BNN was informed by the Ministry’s representative.

Growing investors interest in Riga centre apartments

Investors activity rose in October this year, they tend to purchase several apartments in Riga City centre in order to rent them out. While local residents are interested in good-condition properties ranging up to 100 000 euro.

Digital television introduction attracts huge number of potential cable television clients

The transition from the analogue to the digital television format has created significant adjustments to the cable television market, fostering the growth in the number of potential clients, informed the Chairperson of Izzi Board Evija Jugno.

Unity member Aboltina elected Saeima Speaker

The political association Unity (Vienotība) member Solvita Aboltina (Solvita Āboltiņa) has been elected 10th Saeima Speaker, as 77 Saeima members voted for her, while only 19 - against.

Federation: government declaration neglects construction and furniture manufacture

Despite the Prime Minister candidate's Valdis Dombrovskis developed government declaration does not neglect forest industries - construction and furniture manufacture industries are left with little support, believes Latvian Forest Industries Federation executive director Kristaps Klauss.

Swedbank: tax rise to encourage tax evasion

Further tax increase may even more propel avoidance of tax pay, especially if the volume of shadow economy does not decrease and the society’s confidence in expenditure reduction process declines, assert Swedbank economists.

Arco Real Estate: Latvia real estate prices unlikely to change

Price climb of October has finally stopped, thus 2010 highest apartments price rise was recorded in January - 4.6%, the business portal BNN was informed by the real estate company Acro Real Estate representative.

SEB Group recognised as the best Private Bank in Nordics

SEB Group has received the highest rating in the category Best Private Bank in Nordics at PWM/The Banker Private Banking Awards 2010, which is jointly organised by the international business and financial periodical The Banker and Professional Wealth Management, the business news portal BNN was informed by SEB banka.

Roubini: advanced states will show poor growth

World's developed states economies will show poor growth, compared to emerging economies, believes world-wide recognized economist New York University professor Nouriel Roubini.

Man arrested in Kazakhstan for 6 quintals of marijuana

Uzbekistan citizen, aged 25, has been arrested in Kazakhstan with six quintals of marijuana.

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