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Saturday 24.03.2018 | Name days: Kazimirs, Izidors

75% of Latvians consider themselves economical

75% of Latvia’s population think they are frugal, yet only 44% of the respondents consider others as economical as well. At the same time, 41% of the population recognize they spend money on irrational and impractical purchases.

Stock exchange performs market supervision over Parex Bank

NASDAQ OMX Riga Stock Exchange decided on Tuesday, March 1, to apply supervision status to AS Parex banka, according to official statement.

Census 2011 starts off

Latvia starts Census 2011 on March 1. This year's Census allows also online completion starting from March 1 up to March 10. Starting from March 17 census interviewers will visit those who had not completed the form on the Internet, the Central Statistical Bureau head Aija Žīgure says.

Scandinavian Schibsted acquires Tvnet

The Latvian Internet portal Tvnet has been purchased by a Scandinavian media group Schibsted.

Expert: insulating Soviet time buildings could save 50% of heat costs

By insulating attics and changing or improving the window glazing in Soviet time buildings up to 50% of heating costs could be economized, the Latvian-decent energy-efficiency consultant Andrejs Ritums indicates.

Estonia eases restrictions for EU citizens and companies to purchase land

Starting from May 1, Estonia is doing away with yet another restriction for foreigners to purchase land. Foreigners will be allowed to buy land plot larger than ten hectares near the Estonian border without asking for permission from the county's governor.

Study: Latvia among worst nations for integration

After comparing immigrants integration policies among 31 countries, it was concluded Latvia ranks the lowest in terms of integrating immigrants and their children, according to Migration Policy Group and British Council study.

AS Latfood exports spiked 16.6% last year

In 2010, the Latvian potato chips Ādažu čipsi and salty snacks producer AS Latfood's exports comprised 1304 tons, outdoing the performance of 2009 by 16.6%.

Estonians do not think of profit when saving money

Among Estonians, who are able to save up money by regularly putting aside part of the salary, 38% keep their savings on a bank account used for every-day expenses, while 24% stock up cash.

airBaltic cancels four routes from Vilnius

Starting from March 27, this year, the Latvian national airline airBaltic will withdraw four routes from Vilnius – to Dublin, London, Rome and Paris.

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.

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