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Growing number of tourists staying over-night in Riga
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%.
Tax debts to budget hit 873.55 million lats
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.
Unemployment rate to rise only in October
The registered unemployment rate in Latvia comprises 11.9% – compared to late July 2011, it has dropped 0.2 percentage points, according to the State Employment Agency's provisional data.
Siemens to help Ukraine build aircraft
Ukraine's aircraft manufacturer Antonov has concluded an agreement with Siemens' sub-group Siemens PLM Software on the integration of software, data management and design in the cargo aircraft production.
Expert: crisis to last for another seven years
The economic crisis is not over – it will continue for about ten years, of which only three years have passed so far, believes Ojars Karcevskis, president of the Latvian Fuel Traders’ Association.
Latvian milk processing company plans to conquer Russian market
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.
16% of population listen to pre-election promises
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.
Lattelecom to boost profitability in 2011, retaining the same turnover
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.
Requirements for anti-corruption bureau's director – still unclear
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.
Municipal company Rigas udens profit drops sharply
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.
Criminal proceedings launched against former Parex bank owners
The police have launched criminal sanctions against Valērijis Kargins and Viktors Krasovickis, the former Parex bank owners and board members.
1 commentEstonia celebrates 20 years of independence
On August 20, Estonia is celebrating twenty years since the restoration of independence.
Rich French to shoulder larger financial burden
France is planning to increase the tax burden on its wealthiest citizens – this measure should be part of the deficit reduction plan, recognizes Valerie Pecresse, the French Minister on state budget matters.
Lithuania loosing its skilled workforce
Highly-qualified specialists are still leaving Lithuania, despite employers complain about the shortage of such workers.
Britain’s budget deficit shrinks unexpectedly fast
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.
Economist: labour market keeps recovering
Over the year, the number of employees has risen 3.3% or by 30.5 thousand, and these data cancel out talks on economic recovery without job creation in Latvia, says Olegs Krasnopjorovs, economist at the Bank of Latvia.
BAS: airBaltic’s situation must be addressed immediately
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.
Photos of the Week 2011.08.19
Each Friday BNN-NEWS.COM offers the most interesting, the most scandalous and simply the most beautiful pictures from all over the world.
PhotoIndustrial producer prices surge 8% year-on-year
Compared to June, the overall industrial producer price level in Latvia was up 0.7% in July 2011. Producer prices increased 0.4% for products sold on the domestic market, while rising 1.2% for the exported goods.
HP kills off TouchPad over plans to give up computer business
The technology manufacturer Hewlett-Packard is revising its business activities in attempt to carry out a radical business restructuring.
U.S. presidential candidate: Americans fear Soviet Union’s rise
Michele Bachmann, Republican candidate for the U.S. President’s post, has announced that Americans fear the rise of Soviet Union.
Brent slips below 106 U.S. dollars
Brent crude fell below 106 U.S. dollars per barrel on new concerns about weak demand after data on the U.S. – world's largest oil consumer – were released.
Uncertainty over planned austerity measures worries 73% of population
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.
Expert: investing in gold is like jumping on moving train
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.
SEB: new jobs are created too slowly
In terms of employment, Latvia is reporting improvements, although the job creation process is too slow to rapidly absorb the large number of job seekers in Latvia, recognizes Edmunds Rudzitis, socio-economic expert at SEB Bank.
Photos of the week, 2013.05.24.
Riga mayoral candidate. Guntis Belēvičs: bull in a china shop?
Survey: popularity of current Ventspils management is below 50%
Economic Diary: Smash Business with Taxes
Energy and taxes to be discussed in EU summit
Oil deposit exploration in Latvia's waters; project managed by people close to Lembergs
Prudentia distances from the consequences of the advices it once gave
Friendship with Unity – the only thing that keeps Prudentia afloat?
PHOTO: Gumball 3000 lifestyle rally in Riga
More than 20 000 enthusiasts to run in the Nordea Riga marathon
500 kg large aircraft bomb found at Ventspils port
Economy Minister: Russian business interest increases in Latvia
Apple and other great American companies that keep mountains of cash overseas
Cypriot banks launder money, leaked EU report reads
Russia angry over Azerbaijan's Eurovision mistake
May 21 in pictures
Greek politician slaps woman live on TV
Colombia hosts Miss Pole Dance 2012
VIDEO: Airline fined for in-flight bikini show
VIDEO: The birth of a snowflake
VIDEO: World's most dangerous marketplace
May 23 in pictures
May 22 in pictures
May 20 in pictures
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