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Statoil intends to replace 95E petrol with 95Ultima, currently lowering its price
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.
Number of open electricity market consumers to be expanded
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.
72% ready to the heating season
The majority (72%) of the economically active population aged 18-55 say they are ready to the next heating season.
1 commentPassenger Train takes over its board member’s private car leasing
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 challenges its former owners' endowments
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.
Construction costs down 0.3%
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%.
Finance Ministry: airBaltic’s capital increase means more severe consolidation
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.
Grindeks profit this year - 4.26 million lats
According to Grindeks first-half-year financial report, the company has made 4.26 million lats, a rise of 0.16 million lats or 3.9% versus the first-half of 2010.
Latvijas Gāze profit spikes 3.8%
Over the six months of 2011, the joint-stock company Latvijas Gāze sold 925 million cubic meters of natural gas.
Jurmala not benefiting from non-residents' money
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.
Economy Ministry plans not to use food in energy production
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.
Swedbank: markets to remain volatile
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.
Rimsevics assumes it could be better to sell airBaltic
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.
Owners of passenger cars crash once in 11 years on average
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.
Bank of Latvia: there is no bad weather, just unskilful captains
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.
Export unit value grows 13.4%, import unit value – 5.6%
In the second quarter of 2011, the unit value of exported goods spiked 13.4%, while of imported goods – 5.6 % year-on-year.
Latvian traders to lure investors
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.
10% support revocation of reduced VAT
To obtain 110 million lats for 2012 budget consolidation, 10% of all the economically active population support revocation of the reduced VAT rate.
Riga Mayoral candidate: Baiba Broke – says one thing, but does the opposite
Latvia approves amendments regarding double citizenship
Economic Diary. The state overcame the crisis, the people did not
Latvian fuel traders: National Alliance wants to destroy domestic companies
Searches carried out at homes and offices of Liepājas metalurgs Board and sharholders
Slow-down in Estonia’s growth expected
Latvia's foreign trade export is growing faster than import
Paul Krugman declined participation in the First Riga Economic Forum
Latvia’s construction volume up by 9.8%
The world celebrates Mother's Day
Bathing season officially open in Latvia
Bloomberg: The eurozone must be split to save EU
Syrian rebel «eats soldier's heart»
Infographic: How teens' habits threaten the future of Facebook
Fourth largest Solar flare in the past week
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
Photos of the week, 2013.05.17.
May 16 in pictures
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