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Saturday 19.08.2017 | Name days: Melānija, Imanta

Length of litigation process triples

Cases at courts are reviewed in a longer period of time – in 2007, within a reasonable period of time – up to 3 months – 32.9% of claims were reviewed at the first instance, but in 2010 – by three times less – only 9.7%. Similarly in 2007, in 9.5% of cases the time-limit for review of one case was over one year, but in 2010 the number of such cases grew trice – to 33.3%.

Latvenergo not concerned about Enefit expansion

In Lithuania and Estonia, the company Latvenergo has gained 10% and 4% of the market share, respectively, yet is not alarmed by Enefit’s expansion.

Expert: Latvia lacks qualified IT specialists

There is a shortage of qualified IT experts in Latvia. The problem is IT knowledge is the same in Latvia and other countries, so, given the mobility of the work force, many of them might have already left, according to an expert of the sector Signe Baltiņa.

Regulator: electricity prices to keep rising

Compared to other countries, currently the prices of electricity and gas in Latvia are among the lowest. It is naive to expect that prices will climb in the rest of the world, but remain flat in Latvia. I predict that they will rise, says Valdis Lokenbahs, the Head of the Public Utilities Commission.

Lukoil subsidiary Litasco lost its contract with Ventbunkers for transshipment of fuel oil in 2011

«In December 2010, Lukoil subsidiary Litasco lost its contract with Ventbunkers for transshipment of fuel oil in 2011. Litasco will loose market share in the European fuel oil market,» states Dr. Rudolf Meroni, the Chairman of the Ventbunkers Supervisory Board.

Unit value of export grows 8.3%, of import – 7.3%

Compared to 2009, last year the average level of export unit value rose by 8.3% and the average level of import unit value – by 7.3%.

Latvian households still unlikely to get hold of Estonian electricity

After Latvenergo’s announcement on electricity tariff rise, companies and people have started to show increased interest in options to buy Estonia’s electricity from SIA Enefit. Currently, Enefit is servicing a number of companies.

Grindex profit last year – 7.1 million lats

Last year, the holding group Grindex turnover comprised 65.1 million lats – an increase of 11.5 million lats or 21.5% more than in 2009. While, in the reference period, the group’s net profit attributable to the parent company’s shareholders accounted for 7.1 million lats – a growth of 3.5 million lats, or 97.2% more than in 2009.

Naftimpeks in fight with Statoil and Neste

Riga port company Naftimpeks conflict with Statoil and Neste on railway tariffs has reached the court, as Naftimpeks is not satisfied with the tariffs rise imposed by both of the Scandinavian capital companies and believes it is ungrounded.

Retirement age to reach 70 years

When assessing the social budget sustainability, it is not excluded that the retirement age could amount to 70 years, the Finance Minister Andris Vilks, DnB Nord Bank economic expert Peteris Strautiņš and Welfare Ministry’s Deputy State Secretary Ingus Alliks say.

Economists: difficult to predict fuel price gains

There is a number of factors to have an impact on future fuel price gains, thus it is very difficult to forecast the price drivers will have to pay, economists say.

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