bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 28.07.2017 | Name days: Cecīlija, Cilda
LatviaLatvia

LRA asks Prime Minister to explain usefulness of Prudentia’s services

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThis Tuesday, 2 June, Latvian Regional Alliance sent a letter to Prime Minister Laimdota Straujuma in which the political party asked to be provided with explanations regarding the exact amount of money that was paid to Prudentia Advisers for its services.

«We believe it is not normal for the state to continue paying taxpayer money worth hundreds of thousands euros to private consultants for services whose usefulness is neither explained nor made clear to society in a situation when that same state has difficulty allocating finances for more important industries and Finance Ministry actively asks state institutions and politicians not to scare people when using the word ‘consolidation’. With that, we ask Prime Minister Laimdota Straujuma to provide us with information on how much money has been paid to Prudentia, what services have been bought so far and how has the state benefited from them,» – notes LRA Saeima faction leader Dainis Liepins.

Latvian Regional Alliance, in accordance with Section 119 of Saeima Rules of Procedure, has asked Prime Minister Laimdota Straujuma to provide explanations as to which state institutions and companies controlled by ministries have been provided with services from Prudentia over the years and how much money, including taxpayer money, has been used to pay for those services. LRA has also asked to be provided with information regarding the benefits those services have provided the state and residents, as reported by LRA.

Last year, Prudentia Advisers worked with turnover of EUR 2.216 million and EUR 270,627 of profit, according to information from Firmas.lv.

In comparison with 2013, the company has increased its turnover and profit.

It is written in the company’s management report that the company managed to achieve good growth rates in 2014 – a climb of 115% in comparison with the year before.

Last year, the company was involved in multiple significant projects, including providing assistance to airBaltic airline in the restructuring of debt worth approximately EUR 74 million. The company also contributed to and provided consultations to Liepājas metalurgs’s insolvency administrator Haralds Velmers to assist in detailed evaluation of assets and their subsequent sale. Prudentia Advisers also worked in other projects as well – strategic consultations were provided to multiple companies working in Latvian pharmaceutical wholesale industry and potential investors were provided recommendations about opportunities in the country’s banking sector, said in Prudentia’s report.

Prudentia also plans to strengthen its position in Latvia. Nevertheless, even with a carefully optimistic forecast for market development and considering market fluctuation risks, Prudentia’s turnover may turn out below the level of 2014.

Prudentia Advisers is owned by Rainis Martinsons (46%), Karlis Krastins (46%) and IBS Prudentia (8%).

As previously reported, services from Prudentia were procured by the Latvian government multiple times in the past without any competition. Prudentia was called in to assist with airBaltic, Parex and Liepājas metalurgs situations.

Ref: 102.109.109.6932


Leave a reply

Eurozone’s economic confidence index experiences unexpected surge up

Eurozone’s economic confidence index unexpectedly surged to 111.2 points this July, according to data from the European Commission.

Saeima approves next year’s tax reform – what will change?

The Saeima has approved a total of 12 laws associated with the reform after reviewing more than 300 proposals. Review of proposals that had nothing to do with the reform has been put off until the budget approval period, when they will be discussed in more detail.

Bookmakers: the new party has good chances of entering the Saeima

The new liberal party «Par!», whose leaders include former Economy Minister Daniels Pavluts and Saeima deputy Ilze Vinkele will likely pass the 5% barrier in the next Saeima elections, according to Betsafe bookmakers.

Latvia’s retail trade turnover increased 3.1% in June

Compared to June 2016, total retail trade turnover rose by 3.1 % in June 2017. Turnover of retail trade for food products increased by 1.0 % and turnover of non-food products grew by 4.7 %.

Association: alcohol market will decline and people will lose jobs in the industry

The planned introduction of increased excise tax rates within the context of Finance Ministry’s tax reform could cause the alcohol market in Latvia to decline by approximately 7% next year, says CEO of Latvian Alcohol Industry Association Davis Vitols.

Survey: Latvian residents prefer to perform home repairs on their own

According to results of a recent survey, 63% of Latvian respondents have spent this year’s summer season performing home repairs. 59% of respondents always pick summer to perform repairs.

Martins Bondars confident he should «step aside»

Martins Bondars has decided to step down as chairman of Latvian Association of Regions. According him, recent decisions made by members of LAR have not been ones he would personally support.

Unity: electing Sudraba to the committee causes trust in politicians to go down more

Inguna Sudraba’s approval for the oligarch talks parliamentary investigative committee’s board would the equivalent of the parliament deciding not to permit searches in Slesers’ home, Unity members say.

Kalnmeiers still has no time; ‘Send a letter to prosecutor general!’ campaign begins

«Progresīvie» political party has launched a special campaign called «Send a letter to prosecutor general!», in which the party asks Latvian prosecutor general Eriks Kalnmeiers to step down.

End of July and beginning of August promise warm but rainy weather

The last days of July will be largely sunny. Some rain will be present here and there, however. Air temperature will remain within a range of +20° C… +25° C, as reported by State Environment, Geology and Meteorology Centre.

Juncker to held stop food discrimination of EU's eastern members

Reacting to criticism from Slovakia, Bulgaria and other European Union member states on differences in food product quality in Eastern Europe, the head of the EU's executive body, Jean-Claude Juncker, has pledged to help end the «totally unacceptable» practice.

Property purchase and rent trends are similar among Baltic States

Currently the proportion of standard apartments in Riga in comparison with new projects is rather significant – while the number of standard apartments in the capital is 3,200, new projects are limited to only 300 buildings, according to information compiled DNB Bank and Ober-Haus on apartment demand in Latvia and Baltics.

Construction costs in Latvia up 0.2%

Compared to May, the level of construction costs in Latvia increased by 0.2 % in June 2017.

Beer brewers: many will lose jobs because of increased excise tax on beer

If the Saeima supports the initiative on increasing excise tax on beer by 50% this Thursday, 27 July, the number of people employed in the beer industry will decrease 30%, which will especially impact residents of Latvia’s regions, according to Latvian Breweries Union.

Helsinki-Riga route to be tested by Tallink

Estonian ferry and cruise company Tallink is testing this week the interest of passengers to take a cruise trip from Helsinki to Riga.

Where is the piece of land Duklavs’ associates wanted 15 million for?

Ir magazine has surveyed several hectares of land on Daugava River’s left bank, specifically within the territory of Riga Freeport, to find the piece of land that was mentioned by Agriculture Minister Janis Duklavs during his conversation with other politicians in Ridzene hotel.

Opinion: candidates of the last presidency have all been intellectually weak

One of this summer’s hottest and most discussed piece of news was the proposal to allow residents to elect the country’s president. Latvian President Raimonds Vejonis’ 22 June speech to the parliament, in which he proposed allowing the people to elect the president in 2019, caused even more discussions.

Flat rental fraud increases in Estonia

Police in Estonia have observed a increase in fraud complaints in the area of rental flats as fraudsters typically ask for prepayments and deposits for listed flats they do not own.

Latvian troops to participate in Northern Strike exercises in USA

Throughout 27 July – 14 August, more than 70 troops of Latvian Armed Forces will be taking part in Northern Strike 2017 joint land and air exercises organized by Michigan National Guard in USA.

Delna: if the prime minister chooses to stifle emotions, the president should step up

On Wednesday, 26 July, Delna received a response letter from Prime Minister Maris Kucinskis to Delna’s previous letter, in which the organization requested the dismissal of Agriculture Minister Janis Duklavs.

Saeima supports tax reform laws in final reading

Saeima’s Budget and Finance Committee has concluded work on tax reform laws, supporting them in the final reading. Part of the proposals on additional benefits and multiple other matters will be put off for a later date.

Latvian Shipping Company sells its office building on Elizabetes Street 1

On Tuesday, 25 July, Latvian Shipping Company signed an agreement on the sale of its current office building. The buyer and the next owner of the house will be the United Arab Emirates, who purchased the six-story building on Elizabetes Street 1 in Riga for the needs of the embassy, as confirmed by the company.

Farmers Saeima: beef industry in Latvia is not sufficiently developed

Farmers Saeima believes Latvia’s beef industry is not sufficiently developed, and existing farms have not sufficiently stabilized – many farms have major debt. Because of that any kind of support for the industry is welcome.

Puce: Latvia should ratify Istanbul Convention without reservations

For Latvia’s Development political party has turned to Welfare Ministry with a request to ratify Istanbul Convention without any corrections as soon as possible, BNN was informed by the party’s representatives.

More than half of Latvian businessmen work on weekend; study shows

Businessmen normally spend eight hours and five minutes on work every day. More than 58% of Latvian businessmen also work on weekends, according to data from the latest Citadele Index study.