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Friday 22.06.2018 | Name days: Ludmila, Laimdots, Laimiņš

Strongest companies left in construction industry

The small construction firms and companies not accustomed to strategic solutions – how to survive in crisis conditions – have not outlasted the severe crisis, so currently the most strongest and stable construction companies have remained in the market.

Mobile communications quality increases

The Latvian mobile communications voice service quality indicators have generally improved, compared to the previous two years, according to the 2010 electronic communications service quality report by the Public Utilities Commission.

Insolvency Law to doom businesses to bankruptcy

The new Insolvency Law that came into force in November last year is not favourable to businessmen, as their chances to resume solvency are limited. Consequently, also companies strong enough to survive are doomed to bankruptcy.

Investors line up for cattle-breeding and green energy investments

There are two areas where investors are now lining up with money – livestock breeding and the green energy, the Economics Minister Artis Kampars points out.

Fuel production from seaweeds – most beneficial

Most likely, the European Union will not manage to fulfil the set objectives for green fuel by 2020. The reason for this is the existing vehicle and fuel technologies, believes Guntis Āboltiņš-Āboliņš, the head of the Future Fuel unit at Statoil ASA.

M2M Private Bank head hopes outbidding competitors at Citadele’s auction

The holding company VMHY Group hopes that it can offer a better price for AS Citadele Bank than the other stakeholders, at the time when the government decides to initiate the bank's privatization process and invites investors to submit their offers.

Fazer bakery turnover drops 8%

Last year, the economic recession maintained in the Baltics, with Latvia facing the worst situation. Despite raw material and energy resource price surge, in 2010 the average price of bread was approximately 10% lower than in 2009.

Food producers no longer can purchase sugar bags

Latvian producers fear it is no longer possible to purchase large quantities of sugar bags for food production needs, as wholesale companies are now only offering 1kg sugar packs.

Aldaris to invest 50 000 euro in product design

The brewery Aldaris will invest approximately 50 000 euro in its production packaging development, launching Aldaris Light in one-litre cans, as well as developing and improving the design of Aldaris Light cans.

Baltics’ media advertising market down 7% in 2010

In 2010, the Baltic media advertising market fell by 7%, to 225.3 million euro, according to the aggregated data by the market, social and media research agency TNS Latvia.

Latvian Milk accuses Preiļu Cheese of spreading false rumours

SIA Latvian Milk has filed a legal claim to AS Preiļu Cheese Board Chairman Jāzeps Šnepsts on diffusing false information regarding the new dairy plant project, which Preiļu Cheese Head publicly referred to as a «money-laundering project», the business news portal BNN was informed by the dairy cooperative Trikāta KS Board Chairman Uldis Krievārs.

2.5 million euros allocated for Estonian fishladders

The Environmental Investment Center allocated 2.5 million euros to be divided up by four projects that will help preserve fishing populations in Estonia.

Survey: key banking service for new businesses – Internet banks

At the moment, new businesses are mainly focussed on improving costs and operations efficiency. This is confirmed by the fact that in the survey on banking services businessmen singled out the possibility to use the Internet bank as the most important, Nordea Latvia public relations specialist Juhans Rass told the business news portal BNN.

Competition Council head: fine on banks to reduce payment cards system costs

Although the recent banks agreement on commission payments on settlement with payment cards is not a cartel, the fact it lasted a considerable period of time is not economically grounded, which is why they were imposed the fine, Competition Council board chairman Ieva Jaunzeme says.

Financial analyst: don't expect steady growth in Lithuania

Lithuania can look forward to good growth this year with the gross domestic product expected to rise by 5.8 percent, but it won't all be smooth sailing over the next few years, financial analyst Rimantas Rudzkis warned.

Businesses in Estonia can refuse to accept euro cash

The Consumer Protection Board of Estonia has written a letter of concern to the Ministry of Economics over a new regulation, adopted after the euro changover, that gives businesses the right to refuse to accept euro cash.

Head of Farmers Union in Estonia warns: milk prices to rise again

The average price of a liter of milk is likely to rise substantially by summer, the president of the Central Union of Estonian Farmers, Juhan Särgava, has said. Price of raw milk paid to the farmers in the country would probably increase by 15 percent by May.

Prices for new apartments in Estonia slowly rising

The average price of new apartments in Estonia has seen a modest rise since autumn, the real estate broker City24 has found. As of March 18, the asking price for new apartments was 1,408 euros per square meter, three percent more than it was at this time last year.