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Tuesday 26.09.2017 | Name days: Kurts, Knuts, Gundars

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%.

Fuel price in Europe hits 2008 level

Last week, both oil, fuel and diesel fuel prices hit their highest since the end of summer 2008 in European bourses, Statoil Latvija fuel category manager Kaspars Skrābāns told the business news portal BNN.

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.

EU inflation hits 2.7% in January

In January 2011, the inflation rise in the European Union amounted to 2.7%. On a yearly basis, Latvia reported the second lowest inflation rate (-0.7%), according to the official EU statistics office Eurostat data.

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%.

English pronunciation fails Latvian Foreign Minister

After meeting with the US Secretary of State Hillary Clinton, the Latvian Foreign Minister Ģirts Valdis Kristovskis made a number of comic statements in a press conference due to his poor English pronunciation.

Oman protests near Brent to 114 dollars

Brent crude has neared 114 US dollars, due to unrest in Oman boosted by concerns over oil supply disruptions from the Middle East and North Africa territories.

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.

China's government doubles investments in major Japanese companies

In 2010, China's government-wealth investors doubled their investments placed in major Japanese companies. The combined stakes now make up 19.4 billion dollars.

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.

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