In July 2011, the average hotel occupancy rate in Riga was up 24%, hitting 80%, while the number of passengers arriving at Riga Passenger Terminal rose 16%.
In early August, debts total 873.55 million lats in the Latvian budget, of which debts to the state budget account for 545.52 million lats, liabilities with municipal budget make up 201.35 million lats and debts from social insurance contributions - 126.68 million lats.
After attracting investors, the largest Latvian milk processing company AS Rīgas piena kombināts is now carrying out extensive renovation over plans to conquer the Russian market.
Only 16% of economically-active residents of Latvia admit they listen to politicians’ pre-election promises – 3% of the economically-active population claim they definitely do this, while 13% recognize they rather take notice of pre-election promises.
The fixed telephony network and pay-TV operator Lattelecom intends to conclude this year with approximately the same turnover as last year and with slightly higher profitability, indicates Juris Gulbis, chairman of the company’s board.
The requirements for the Corruption Prevention and Combating Bureau head are still not clear, since the amendments to CPCB Law have not been approved yet, meanwhile the vacancy has already been announced, says Alvis Vilks, deputy director of CPCB.
Rigas udens, municipal company owned by the Riga City Council, concluded the past year with 144 thousand lats in profit - 14 times less than a year earlier.
The police have launched criminal sanctions against Valērijis Kargins and Viktors Krasovickis, the former Parex bank owners and board members.
Due to the state budget revenue growth, which was attained through corporate income tax hikes and new banking tax, Britain’s budget deficit reduced unexpectedly fast.
Baltic Aviation Systems is offering the Latvian government three options for resolving airBaltic’s current situation and ensuring the airline’s future operations. It also believes that the government must immediately take a decision.
The technology manufacturer Hewlett-Packard is revising its business activities in attempt to carry out a radical business restructuring.
Michele Bachmann, Republican candidate for the U.S. President’s post, has announced that Americans fear the rise of Soviet Union.
The current budget consolidation has been postponed until the end of 2011, so majority (73%) of the economically-active residents of Latvia aged 18 – 55 years are concerned about the uncertainty regarding planned austerity measures in 2012.
From the investment point of view, investing in gold now is the same as jumping in the last car of a moving train, recognizes Harijs Svarcs, head of Swedbank's Investment Management.