Coal transshipment at Riga Freeport, which is a business that is closely associated with oligarchs, is planned to be relocated to new docks on Krievu Island by the end of the year. EUR 133 million have been invested in this project already. Now the freeport’s authority has to invest EUR 30 million more, as reported by De Facto.
The government of Iceland has decided to end from Tuesday, March 14, the capital controls on its population, companies and pension funds.
Latvian Air Traffic Controllers worked with turnover of EUR 24.527 million in 2016, which is 1.8% less when compared with 2015. The company’s profits declined 26.9% and were EUR 344,336, according to the company’s unaudited financial account.
«Demand for container cargo transports within Eurasian supply networks continues to increase. A major increase was noted in 2016 for container cargoes in existing transport routes,» notes Latvian Transport Ministry's state secretary Kaspars Ozolins.
Annual inflation rate about 3% will not remain for long. It is expected to decline closer to the end of the year, making general inflation rate around 2.5%. It is also expected that employment in the country will rise. Employers will have to put more efforts into finding employers and increase wages, Swedbank economist Linda Vildava shares her prediction for the near future.
Lithuanian government has supported the ambiguously viewed forest management reform. As part of this reform, instead of the current 42 forest management companies, the country would form a single state forest management company Lithuanian State Forests. The final decision in this matter will be made by the Lithuanian Seimas.
The majority of investment funds present in Latvia worked with positive yield last year. Their performance was greatly influenced by the investment fund currency – better yield in euros was demonstrated by funds operating with Russian rouble or US dollar, as reported by the Finance and Capital Market Commission.
On Tuesday, 7 March, European Reconstruction and Development Bank ceased participation in capital of problematic asset manager Reverta, as mentioned in the company’s report submitted to Nasdaq Riga.
Latvian Economy Ministry in China wishes to discuss investment attraction matters and the creation of a Latvian-Chinese think tank to better picture directions for future cooperation. Special attention will be provided to enhancing cooperation within 16+1 format and One Belt One Road project.
SEB Bank and Verus Praedium, which develops IKEA brand of furniture and household goods in Latvia, have signed an agreement on a long-term loan of EUR 35.4 million for the construction of an IKEA store.
The prices of goods and services in Estonia will climb 3 percent in 2017, the Estonian wing of Swedbank predicted. Meanwhile, salaries should increase somewhat faster than prices, the bank’s chief economist, Liis Elmik, evaluated in a press release on Tuesday, March 7.
Merging deals and other agreements of the largest businesses in 2016 had affected the competition development in twelve different industries and nearly one billion euros large segment of Latvia’s national economy, Competition Council reports.