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Ceturtdiena 22.03.2018 | Name days: Tamāra, Dziedra

Latvian IT market revives

The Latvian Internet technology field will be affected both by the earthquake in Japan and the economic situation in the euro zone, the IT wholesaler ALSO Latvia Board Chairman Juris Ducens points out.

Latvian life insurance market resumes growth

Latvian life insurance market is starting to recover from the slow-down in 2008 and 2009. Last year, insurance premiums written reach 43.1 million lats, 16% more than in 2009 with 36.3 million lats.

Bite first quarter revenues spike 10%

In the first quarter of 2011, the telecommunications operator Bite Latvija revenues increased by more than 10% to 6.9 million lats (EUR 9.9 mln), compared to the same period in 2010.

Number of registered companies doubles

In the first three months of 2011, nearly twice as many companies have been founded than in the same period a year ago, according to

State Audit Office calls upon Ombudsman to ensure budget planning and implementation meet requirements

By carrying out unexpected tax – the state social insurance compulsory contributions and individual income tax – advance payments at the extent of 31 thousand lats in December 2010, the Ombudsman's Office has not acted lawfully and economically with financial resources, the State Audit Office has concluded.

Belgians acquire Pure Food

The Belgian private capital company Puratos has bought fruit and berry fillings producer Pure Food, informs the company’s owner Aivars Žimants.

Changes in brewery SIA Valmiermuižas alus ownership structure

Beer producer SIA Valmiermuižas alus has introduced certain changes in its ownership structure, according to SIA Lursoft.

Competition Council imposes 163 130 lats fine on RIMI Group

The Competition Council has found restrictive agreement between RIMI Group companies – SIA RIMI Latvia, SIA Supernetto and SIA Plesko Real Estate – and the commercial space lessor SIA Marno J, the CC informed the business news portal BNN.

Mortgage Bank Chairman: no problems with finding investors for sugar-beet processing

It would be economically-viable to renew sugar production in Latvia and only the political will is necessary to advocate this, consider many experts, noting that Latvia should build a modern sugar factory that would also produce bio-ethanol and biogas.

Fraud activates again

Along with the increasing activity and sharp competition, fraudsters «revival» is predicted on the loan market.

EU 2020 measures to boost Latvian GDP 1.5% yearly

Strategical measures included in the Latvian national reform programme EU 2020 will ensure 1.5% GDP growth each year.

Quadrupling numbers of smuggled cigarettes

In the first quarter of 2011, 16 367 customs physical controls have been carried out (including partial and advanced control, persons physical control), amounting to 3 913 or 31.4% more than a year ago.

Expert: state budget tax revenue exceeds estimates

According to the latest information, Latvia state budget revenues exceed the planned, while revenue derived by other means rather than taxes lag behind considerably, says Kaspars Āboliņš, Budget and Finance (Taxation) Committee representative.

Shrinking number of state administration employees

In the last quarter of 2010, the total number of public sector employees amounted to 8.3% of Latvia’s population, coming closer to the average EU indicator – 7.9%.

SAF Tehnika to establish a joint venture in Middle East

The telecommunications equipment manufacturer AS SAF Tehnika has concluded an agreement with the Saudi Arabian company Najahat Development&Investment on setting up a joint venture SAF Tehnika Middle East.

NP Foods turnover last year – 53.3 million lats

In 2010, the food company NP Foods turned 53.3 million lats. Costs efficiency promotion and optimum product portfolio maintenance enabled boosting profitability 50%.

Lukoil Baltija R head: petrol price might hit lat per litre in second half of year

If oil bourse price keeps gaining at the current pace, Latvia is likely to see benzin price hitting one lat per litre in the second half of the year, says Haim Kogan Lukoil Baltija R head.