bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 15.12.2017 | Name days: Jana, Johanna, Hanna
LatviaLatvia

CC: largest merging deals of last year were performed on the retail market

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUMerging 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.

The largest merging deals of 2016, both in regards to the number of involved businesses, the total number of cases and the total level of financial influence, had impacted non-specialized retail store network in Latvia the most. Other segments include wholesale trade, agricultural, tobacco and dairy industry, explains CC communications specialist Paula Vilsone.

The report on the situation on different markets mentions that consolidation of national producers would enhance exporting capabilities in a long-term perspective. CC also states that merging deals have had no major impacts on the structure of different markets or the state of competition, nor have those deals resulted in the formation of dominating parties on any of the impacted markets.

Analysing merging trends last year, CC noticed a moderate increase of foreign investments, which helped enhance the competitiveness of different sectors on an international level, as well as develop stability of different businesses.

CC allows that merging may continue on different levels and among different businesses. This could bring different benefits to competition – wider variety of goods and more innovative solution. CC also predicts that the search for different solutions to provide businesses with more freedom to use the digital environment will continue.

At the same time, experts say it is possible to conclude about a gradual convergence of local and regional markets, which means wider consumption options and innovative solutions in many different fields of business. It will also help create stronger competition, forcing businesses to not only adapt to the changing commercial environment and dynamic competition, but also offer new solutions to satisfy demands of consumers.

Permission from the Competition Council for merging deals is necessary if total turnover of parties involved in the merging process was no less than EUR 30 million in the previous financial year in Latvia and if total turnover of at least two parties involved in the merging process in Latvia was no lower than EUR 1.5 million in the previous financial year.

Merging operations that contribute to the development of the manufacture of goods or their realization and are intended to benefit the consumer are not applied with restrictions. Merging agreements are not allowed to apply restrictions that are not necessary for the accomplishment of said goals. They are also not allowed to liquidate competition within a specific market part. All merging plans have to be reported to CC. This institution then assesses the situation and makes the decision to either allow or forbid the deal to progress.

Ref: 225.109.109.2084


Leave a reply

Bank of Latvia increases GDP growth outlook to 4.7% for 2017

Bank of Latvia has decided in increase gross domestic product growth outlook from 4.2% to 4.7% for 2017, as reported by the bank’s governor Ilmārs Rimšēvičs.

Latvian residents’ opinion of government’s work remains negative

Latvian residents voiced the biggest degree of dissatisfaction about the development of the situation in Latvia and the work performed by the government. Although the previous evaluation of government’s work had increased by four points, it has since declined by two points, according to data from Baltic International Bank’s Latvian Barometer.

Eel fishing to be restricted in Baltic Sea for three months

European Union Fisheries Council has decided to restrict eel fishing for three months in 2018 in all waters, including the Baltic Sea. Although the World Wide Fund for Nature and environmental organization in Europe view it as a notable first step, these efforts are unlikely to have a major impact on the most important problem – eel population continues declining rapidly, as noted by WWF.

LCCI: increase of electricity bills for thousands of companies in unacceptable

Latvian Chamber of Commerce and Industry (LCCI) categorically opposes increasing electricity bills for the majority of small and medium-sized companies due to mandatory procurement component’s differentiation. The organization believes that this would basically introduce a new additional tax, making them even less competitive.

Head of Latvian Association of Regions to spend Christmas thinking on remaining in the party

Dissatisfied with multiple decisions made by Latvian Association of Regions (LAR), Riga City Council member Mārtiņš Bondars will spend the holiday thinking about his place in this political party, as he mentioned in his interview to Rīta panorama or LTV.

Estonian fund permitted to purchase several Latvia energy production companies

Latvian Competition Council has permitted Estonian fund to purchase several energy production and agricultural companies.

Meat processing giant sees room for growth in ready-to-eat foods

Consumption in the meat market segment of ready-to-eat foods is growing quickly, evaluated Finnish meat processing group HKScan that is planning to invest eight million euros in its factory in Estonia.

To fight for national minority schools, Russian representatives promise to hold a referendum

Defenders of Russian schools in Latvia promise to organize a referendum for autonomy of national minority schools, said co-chairman of Latvian Russians Association Miroslavs Mitrofanovs in regards to the transition to education only in Latvian language.

Tax payment process from capital growth to change in Latvia

As part of the tax reform, changes will be added to the Personal Income Tax Law starting from 1 January 2018. One of the changes is associated with payment and declaration of income from capital growth. The tax rate and the term for submission of declarations on income from capital growth will change next year.

Tusk deems EU migrant quotas ineffective as some states oppose taking in migrants

Donald Tusk, the head of the Council of the European Union and chairman of this week's EU summit, has evaluated that mandatory EU-wide quotas are ineffective and that there is a split between east and west as regards asylum policy.

Riga City Council’s 2018 budget – poorly planned or well-developed?

As the vote for the 2018 budget of Riga City Council draws near, representatives of all opposition parties say they will not support it as long as politicians of the ruling coalition continue viewing the city’s most important financial document as good and aimed at development.

Euro area economy has grown quicker than expected, European Central Bank estimated

Growth has been at a faster pace in the eurozone prompting the European Central Bank to raise its economic growth forecasts.

Weekends in Latvia expected to be snowy

A layer of snow will form in Latvia’s central and western regions that will remain until the middle of next week, as reported by State Environment, Geology and Meteorology Centre.

Opinion: Latvia at risk of restricting healthcare to 300,000 people

Kustība Par! political party has sent a letter to Latvia’s President Raimonds Vējonis, asking him to return to the Saeima the recently approved law on healthcare funding legislative draft. According to the party, the law restricts healthcare for 300,000 people in Latvia.

Lithuania’s 2018 budget focuses on spending cuts, NATO commitment and social security

Lithuania's 2018 budget, approved this week by the Seimas, Lithuanian Parliament, makes history for being the first budget ever with fewer spending for the governmental sector, the commitment to NATO of earmarking 2 per cent of the gross domestic product to defence and bigger allotments for social security. The budget was adopted by 84 MPs, 29 voted against, with 15 abstentions.

EU member states have to strengthen measures against sexual abuse of children

Member states of the European Union have to take more serious measures and cooperate more intensely with Europol and information technology industry to better combat sexual abuse of children, as noted by members of the European Parliament.

Latvian parliament views initiative for changing VAT rate for food product

On Thursday, 14 December, Latvia’s Saeima made its decision on the collective application that proposes reducing VAT on everyday healthy food products and increasing VAT on unhealthy products.

Maxima: residents have become more conservative in their choice of products

In Q2 and Q3, a higher degree of conservatism was noticed in residents’ choice of products. The number of buyers who gladly purchase new products has declined, whereas the number of buyers who do not change anything in their purchasing habits has increased, according to results of a study performed by Maxima.

Civil processes to be sped up and simplified in Latvia

On Thursday, 14 December, Saeima supported amendments to the Civil Process Law in the final reading. Amendments propose several major changes to the process of review of civil processes to make court sessions quicker and more efficient.

State Auditor dissatisfied with parliament’s slow legislative process

Latvian State Auditor Elita Krūmiņa plans to inquire to the Saeima about the delay with the approval of the legislative draft on the expansion of authority of her institution, as she mentioned in an interview to Rīta panorama programme of LTV.

Aldaris commences exports to France, China and Netherlands

Aldaris concludes 2017 with three new export contracts, commencing exports of products to China, France and Netherlands. Until now Aldaris has exported products to eight markets, with the largest one being United Kingdom, taking up 78.71% from Aldaris export volume, as reported by the company.

Estonian budget passed with 0.25 billion-euro deficit

The Estonian Riigikogu with 55 votes against 41 has passed the country’s 2018 state budget bill planning to spend by 0.25 billion more than it is planned to earn.

AFSAL: loan requests in non-banking industry are declined in 69% of all cases

In the first six months of 2017 Alternative Financial Services Association of Latvia (AFSAL) issued a total amount of EUR 84.7 million in consumer loans. No increase is noted in this amount when compared with the same period of 2016. Increase did not exceed 0.2%, as reported by the association.

European Parliament supports changes for combating activities detailed in Panama Papers

Public registries with names of true owners of businesses, effective protection of whistle-blowers and stricter requirements for financial intermediaries are some of the proposals intended to assist with the fight against tax avoidance, as noted by members of the European Parliament.

Former deputy chief of anti-corruption bureau: Christmas lights are more important to Riga mayor than residents’ welfare

«Mayor of Riga Nils Ušakovs focuses a lot on ‘shiny things’ and procurements performed by capital associations in which flow of money is hard to control. For example, Ušakovs has decided to allocate from the budget EUR 200,000 for Rīgas Gaisma to procure Christmas decorations. Meanwhile in Riga there are nearly 50 km of streets with no lighting. This demonstrates that the mayor focuses on ‘shiny things’ instead of improving life for Riga’s residents,» former deputy chief of Corruption Prevention and Combating Bureau (KNAB) Juta Strīķe told BNN in an interview.

When do you go shoping for Christmas gifts?

View Results

Loading ... Loading ...

Polls Archive



Category feed: Feed: