Latvia

Economic calendar of Latvia. June 11 – 15, 2012

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June 11, 2012

Monday, June 11:

-Foreign Affairs Ministry organizes a round table discussion «Opportunities for Latvian businessmen in countries of Central Asia».

-Rīgas piena kombināts organizes a press conference at Verman Garden, during which company representatives plan to present a summer employment program for students – «Young businessman.»

-Nordea Bank presents its «Level of financial intellect of the Latvian society» research.

-Laika stars financial consultancy company presents its «Euro: a threat to economy and its engine» research at Reval Hotel Latvija.

-As part of the «Meet – tree» exhibition at the Mezaparks Great Stage, Finance Ministry in cooperation with Agriculture Ministry and Latvian Confederation of Woodworking organize a meeting for all Latvian businessmen, interested in importing Russian round timber.

-The Central Statistical Bureau of Latvia reports the data on Latvia’s external trade in April 2012 and processing industry turnover in April 2012.

-Minister of Agriculture Laimdota Straujuma meets with Deputy-Minister of Agriculture of China, topics include: economic cooperation, particularly the increase of Latvian export of agricultural, fishery and forestry products to China.

-Latvian Society of Beekeepers kicks off the «Best Beekeeper of the Year» contest to popularize beekeeping industry.

-Minister of Trade and Investment of UK Lord Green comes to Latvia with an official visit.

Tuesday, June 12:

-Industry experts of the Latvian Employers’ Confederation report their findings on employment tendencies in ten industries of national economy.

Wednesday, June 13:

-The politika.lv social policy portal and Konrad-Adenauer Fund organize the «How advantageous is it for Latvia to participate in the Visagina NPP project?» discussion.

Thursday, June 14:

-A free seminar «How to prepare and realize a project as part of the «Measures to improve the effectiveness of central heating systems» program» takes place at the Latvian Investment and Development Agency.

Ref: 017.109.109.2059

Company invests 30 000 in a new Melnā coffee brand

Melna kafija (Black coffee) producer has decided to invest LVL 30 000 in the creation of a new brand in order to strengthen its position on the market. The new Melnā coffee brand is called to increase the retail market share in the Baltics and export markets – Russia, Denmark, Finland and Belarus.

Money ,
Latvia

Photo

June 18, 2013

Industry player: revoking Balva's licenses will increase competition

The decision of the Finance and Capital Market Commission (FCMC) to revoke the licenses of Balva Insurance Company will change the market. This will increase competition among other insurance companies, as Ergo Baltic Board member Ingrida Kirse told BNN.

Money ,
Latvia

June 18, 2013

Airlines ready to invest in fuel-efficient aircrafts, Airbus orders suggest

The world's leading plane manufacturers Airbus and Boeing have received many orders at the Le Bourget air show near Paris. Demand for fuel-efficient long-haul planes indicates that airlines are willing to invest in modern airplanes.

Money ,
World

June 18, 2013

Latvian Finance Minister appoints new representative to the Board of Riga Free port

Latvian Finance Minister Andris Vilks has appointed the Deputy State Secretary Baiba Bane as the ministry's representative in the Board of Riga Free port.

Social ,
Latvia

June 18, 2013

Household income grows the slowest in Vidzeme and Latgale

The rapid economic growth of 2011 and 2012 contributed to the rise of income of Latvian households. However, it was not equal in all of the regions. Inequality remains. In addition to that, last year's general income increased the slowest in less developed regions.

Social ,
Latvia

June 18, 2013

CPCB to initiate criminal proceedings against Road administration's officials

The Corruption Prevention and Combating Bureau (CPCB) has submitted a request to the Prosecutor General's Office to initiate criminal proceedings against nine officials for possible criminal activities in relation to contracts of the Road Administration.

Money ,
Latvia

June 18, 2013

Russia and U.S. fail to agree over Syria

U.S. and Russian presidents have met as part of the G8 summit to discuss the resolution of Syrian civil war, but have agreed to disagree.

Social ,
World

June 18, 2013

OlainFarm's product sales achieve 7% growth

Preliminary consolidated sales figures of OlainFarm for May show that sales have reached LVL 3.38 million (EUR 4.8 million), which is 7% more than a year ago. The biggest sales increases were achieved in Kyrgyzstan (growth by 152%), Uzbekistan (growth by 111%) and Georgia (growth by 108%).

Money ,
Latvia

June 18, 2013

One of the first Art Nouveau buildings in Riga is falling apart

Due to the neglect of its owners, one of the oldest Art Nouveau buildings in Riga is falling apart. It was built in 1899. Its architect is Rudolf Heinrich Von Zirwitz. The building situation on Vilandes Street 11 in Riga is a national architectural and cultural landmark.

Social ,
Latvia

June 18, 2013

EU-U.S. historic trade talks begin

The EU and the U.S. have held first negotiations on a significant bilateral trade deal, described as the most lucrative trade agreement in history.

Money ,
World

June 18, 2013

Scandinavians decide to sell agricultural land in Latvia

Bergvik Skog plans to sell a little more than 2 000 ha of agricultural land in Latvia.

Money ,
Latvia

June 18, 2013

Bomb explodes in Kabul hours before Afghanistan security hand-over

The blast, believed to have been performed by a suicide bomber, comes on the day when NATO is expected to formally hand over command of security responsibilities to Afghan forces.

Social ,
World

June 18, 2013

Two potential investors appear to have an interest for airBaltic

According to Latvian Transport Minister Anrijs Matiss, negotiations with two potential investors are currently being held in regard to Latvia's National airBaltic airline.

Money ,
Latvia

June 18, 2013

One year passes since Ecuador embassy offered Julian Assange asylum

The embassy of Ecuador in London will continue to offer asylum for the founder of WikiLeaks Julian Assange, as the country's Foreign Minister Ricardo Patiño. He announced this after his discussion with the British government, where no progress regarding Assange was made.

World

June 18, 2013

Latvian parliament's budget for 2014 is estimated around LVL 15 million

During the June 17 meeting of the Saeima Praesidium, the parliament's budget for 2014-2016 was confirmed. The parliament does not plan to increase expenses for current activities, rather divide the funding for two main budget goals – LVL 255 thousand for Latvia's presidency over the Council of the European Union and LVL 2.76 million for the reconstruction of the main building on Jekaba Street 6/8.

Social ,
Latvia

June 17, 2013

FCMC revokes all licenses held by Balva

The Finance and Capital Market Commission (FCMC) has made the decision to revoke all licenses currently held by Balva Insurance. This decision was made in order to protect the interests of the agency's clients.

Money ,
Latvia

June 17, 2013

Riga Free port official submits resignation because of a pleasure trip

Deputy Chairman of Riga Free port Eriks Skapars has submitted his resignation to Latvian Finance Minister Andris Vilks for the recent working visit to Kazakhstan.

Money ,
Latvia

June 17, 2013

Swedbank: low mortgage loan interest rates will not last

EURIBOR and RIGIBOR interest rates that compile the variable part of loan interest rates have been at their lowest since 1999.

Money ,
Latvia

June 17, 2013

Latvian companies to partake in the Paris Air Show for the first time

Two Latvian companies – Centre Composite and Aviatest – will be participating in the Paris Air Show this week. This will be the first time for Latvian companies to participate in an event that gathers giants like Boeing, Airbus, Bombardier Aerospace and Eurocopter.

Money ,
Latvia

Photo

June 17, 2013

Liepājas metalurgs attracts the interest of at least three potential investors

The creditors club of Liepājas metalurgs (LM) has received at least three offers from potential investors, Latvian Economy Minister Daniels Pavluts claims.

Money ,
Latvia

June 17, 2013

U.S. secret service listens to phone calls and might read e-mails

The U.S. National Security Agency has unveiled in a classified briefing that its analysts can listen to domestic phone calls without court authorisation.

Social ,
World

June 17, 2013

Czech Prime Minister steps down

Because of the recent corruption scandal in the Czech government, the country's Prime Minister Petr Nečas announced his resignation on June 16.

World

June 17, 2013

Minister: some deputies lack personal opinions and freedom

According to the Latvian Environmental Protection and Regional Development Minister Edmunds Sprudzs, some Saeima deputies are pitiful people who lack their own opinions and freedom in making decisions.

Social ,
Latvia

June 17, 2013

Bribery accused official leaves a farewell note and goes missing

Bribery accused Riga City Council official Arija Stabina has gone missing. Her current whereabouts are unknown. The Corruption Prevention and Combating Bureau (CPCB) had arrested Stabina some six months ago and charged her with bribery and document forgery.

Social ,
Latvia

June 17, 2013

Economic Diary. Here's to fair euro adoption!

The “Fair euro adopter” campaign was initiated this week. As part of it, a memorandum between the Latvian government and entrepreneurs will be signed. This document will dictate voluntary obligation of businessmen to recalculate prices from LVL to EUR in accordance with the exchange rate of the Bank of Latvia.