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Tuesday 24.04.2018 | Name days: Nameda, Visvaldis, Ritvaldis

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.

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.

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.

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.

Flick: I could have as well let state solve airBaltic issues

I could have just handed airBaltic’s financial problems over to the state to find the solution, says Bertolt Flick, the President and co-owner of the airline. Now, knowing the political background, I would seriously consider whether to enter into an agreement on airBaltic’s brand purchase.

Parex Bank minority shareholders ask government to protect their interests

Seven AS Parex Bank minority shareholders have submitted requests to the Prime Minister, several ministers and the Privatisation Agency, asking the Latvian government to protect the bank's minority shareholders interests.

Clients line up for Enefit

Due to the increased tariffs a growing number of consumers in Latvia want to buy electricity from Estonia.

Tax rise boosts shadow economy

Tax rise will not help combat the shadow economy, because it is exactly taxes that boost it, both local businessmen and foreign investors say.

Court orders Baltkom to pay Lattelecom 77 000 lats

Administrative Court has dismissed Baltkom 's complaint against the Public Utilities Commission's decision providing that Lattelecom tariffs of number portability approach costs, thus Baltkom is ordered to pay the company Lattelecom 77 000 lats.

Study: businessmen neither trust government, nor fear avoiding taxes

Previous studies in various countries have revealed that there are two main reasons for tax evasion - risks to be caught and attitude towards the specific country, according to Stockholm School of Economics in Riga observations.

Estonian alcohol producers sold more on the domestic market

Estonian producers sold 0.59 million liters of hard alcohol on the domestic market in January, a 61 percent increase compared to the same month of last year, according to data from the Alcohol Producers' Association.

Foreign investor interest in Estonia picking up again

Foreign investor interest in Estonia is growing again - over 100 foreign investment projects are currently being processed by Enterprise Estonia, which is much more than in the two previous years put together.

Chairman of the Board of Lithuania Bank resigns

The current Chairman of the Board of the Lithuanian Bank, Reinoldijus Šarkinas has tendered his resignation to be effective 15 April. Šarkinas has reached the end of his five year term, and in fact Seimas had to ratify an extension until 15 April as it was a few months more than the specified five years.

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