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Sunday 18.03.2018 | Name days: Ilona, Adelīna

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.

Experts: Estonia and Lithuania cannot compete with major Latvian ICT companies

In order for Latvia to become an information and communication technologies giant, this should be formulated as a national task. Despite it would be difficult for it to compete with India or China, Latvia does not at all lag behind other Baltic states that much, moreover, it is even more powerful in some sectors.

OCTA ends year with 2.6 million lats in losses

In terms of OCTA performance indicators, 2010 marked the overcoming of the low point. Although, overall 2010 reported a slight stabilization in the market situation, OCTA insurance sector concluded 2010 with a negative balance –2.6 million lats in losses.

Excise duty rise to boost pack of cigarettes price by 10 santims

Starting from July 1 this year, the excise tax for cigarettes might boost the price of a pack by about 10 santims, including the VAT.

2 067 e-signature users in Latvia

In nearly a month's time, 5 610 persons have applied for an electronic signature (e-signature) on its Internet site, launched on February 1. Out of them, 2 067 are already e-signature users as they have approached a library in Latvia with their application and obtained it.

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