Latvija Statoil has started restructuring its fuel supply. The first step has already been implemented by reducing the mark-up for 95Ultima petrol. Further on, it will always cost less.
It is planned to significantly expand the number of electricity consumers obliged to purchase electricity on the open market, according to the Electricity Trade and Use provisions prepared by the Economy Ministry.
Less than a month after appointment of JSC Passenger Train board member and the Unity representative Martins Greste, Passenger Train has started to make payments on Mercedes Benz that his private company purchased in leasing.
Parex bank has challenged in court its former owners Valerijs Kargins and Viktors Krasovickis endowment agreements concluded with their sons. According to these agreements, the bankers' sons have been presented with several deposits worth over ten million lats.
Compared to June, construction costs in Latvia went down 0.3% on average in July 2011. Labour remuneration rose 2.1%, with maintenance and operational costs of machinery and equipment surging 2.0%. While prices of construction materials dropped 2.3%.
Channelling the state budget resources in the Latvian airline airBaltic’s share capital will boost Latvia’s budget deficit and require further fiscal consolidation, believes the Finance Ministry.
Jurmala City Council is not feeling any financial benefit from non-residents investments, says Maris Dzenitis, the council's representatie, adding that this could be due to most of them being placed in real estate and banks.
The process where fields are sowed and afterwards the cultivated plants are let rot for biogas production purposes will soon be history, says Juris Puce, state secretary of the Economy Ministry, commenting on the Ministry’s prepared Energy Strategy until 2030.
Markets are still very volatile, with large market plunges and increases within a day becoming quite common. Although the eurozone’s sovereign debt crisis is still the main cause of market instability, now the focus is shifted to the economic growth in developed countries, Swedbank analysts indicate.
Before taking any decisions on what to do with the Latvian national airline AS Air Baltic Corporation (airBaltic), there should be a clearly presented balance sheet with the numbers when the state invests and if it does not, namely, when the airline is put up for sale, says Ilmars Rimsevics, Bank of Latvia President.
Each owner of a passenger car happens to be involved in a car accident once in 11 years on average, while owners of trucks - once in six years, according to the Latvian Motor Insurers' Bureau's (LMIB) data based on the number of insurance agreements and their terms.
Currently, there is an unpleasant feeling that due to the sovereign debt crisis the eurozone's ship is sinking. To find out the actual situation with the debt, it is first necessary to look at reasons causing such an interpretation of events, says Antra Trenko, economist at the Bank of Latvia.
In the second quarter of 2011, the unit value of exported goods spiked 13.4%, while of imported goods – 5.6 % year-on-year.
It is only a matter of time for internationally-known brands to enter Riga and although investors are concerned about the population’s poor purchasing power, currently Riga shopping centres’ turnover is comparable to the one of German trade centres.