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Monday 24.09.2018 | Name days: Agris, Agrita

Banks surprised by Competition Council’s decision

The Latvian commercial banks are surprised and confused by the Competition Council’s imposed fine regarding the restrictive agreement on the implemented commission fees for payment card settlements and ATM service use, suggests the bank survey carried out by the business news portal BNN.

Riga Traffic to abandon tire locks in city parking

Limited liability company of Riga municipality Rīgas Satiksme (Riga Traffic) is considering to abandon tire locks in Riga city parking in cases drivers have not paid for the parking space or have parked their cars wrong, Riga Mayor Nils Ušakovs says.

Tverijons: Competition Council’s decision to fine banks is absurd

The Competition Council’s decision, which accuses the entire Latvian banking industry of reaching illegal agreement, introducing and maintaining interbank commission fees for payment card system’s maintenance, is absurd and ungrounded, indicates the Association of Latvian Commercial Banks.

Competition Council fines 22 banks 5.5 million lats for cartel

The Competition Council of Latvia (CC) has imposed 22 commercial banks a 5.5 million lats fine for fixing commission payments on ATM services and credit card payments, the CC representative Inita Kabanova says. Swedbank is fined 2.83 million lats and Citadele bank – 1.22 million lats.

Giant botnet «cut off» results in rapid spam volumes drop

All the command servers of the large «zombie» computer network or botnet Rustock suddenly went out of order, thus greatly reducing the spam flow on the Internet in the last couple of days.

Investors start showing interest in Sāga companies

This year, part of Swedbank’s overtaken furniture manufacturer Sāga Group might see a revival, Swedbank's Board Member Daniils Ruļovs admits.

US top drink in 2010 – Coca-Cola

Last year, the soft drink Diet Coke sales volumes in the US outpaced Pepsi sales, thus, Coca-Cola and Diet Coke have been recognized as the most popular drinks, ranking in the first and second place, respectively. While Pepsi has slipped from the second to the third place in the top of most popular non-alcoholic beverages.

Latvian companies enter Chechnya’s market with many free niches

Already in the nearest future, a number of Latvian producers might enter Chechnya’s market and significantly expand their operations in this region, which currently has high demand for various types of products.

Spilva’s profit last year – 370 000 lats

In 2010, the company Spilva turnover comprised 11.118 million lats, while profit – 370 000 lats. Moreover, 81% of all the total output last year was produced in Babites region Spilve, informs the company.

Latvenergo ex-chairman: Scandinavians to join Latvian energy market

Energy producers from Scandinavia are likely to join Latvenergo competitors in the Latvian energy market in near future, the energy power supply enterprise Latvenergo ex-chairman Kārlis Miķelsons told in an interview to the business news portal BNN, adding that this will toughen the competition in the energy market even more.

Armenia to receive its first Superjet in April

This year in mid-April, the Armenian airline Armavia will acquire the first Sukhoi Superjet 100 liner. While it is still unknown when Russia’s flagship carrier Aeroflot will obtain it.

EU construction output grows 1% in January

European Union (EU) total construction output grew 1% in January 2011, compared to the previous month, while the euro zone registered a climb of 1.8%, according to Eurostat data.

Livestock farming grew in 2010

The number of livestock kept in Latvia grew in late 2010: the number of cattle – by 1.3 thousand or by 0.3%, of pigs – by 13.2 thousand or by 3.5%, of sheep – by 6.1 thousand or by 8.7% and the number of goats by 0.3 thousand or by 1.8%.

Aldaris to invest half million lats in energy-efficiency promotion

Considering the environmental sustainability, the Latvian brewery Aldaris will invest 550 000 lats in energy efficiency improvement. This will not only reduce CO2 emissions by 295 tonnes a year, but also enable saving electricity.

Growing Russian investors interest in commercial premises in Riga

Early 2011 reported surging Russian investors interest in purchasing commercial premises in Riga and Old Riga, opting for restaurant and shop premises with stable tenants.

31% doubt state’s ability to ensure prosperous retirement years

Every third (36%) inhabitant of Latvia is planning to create accruals for prosperous retirement years. At the same time, 31% of the respondents indicate their state pension will not cover all their needs, according to SEB banka’s survey.

ES funds granted for tram infrastructure improvement in Liepaja and Daugavpils

The Transport Ministry has approved two projects to improve the tram infrastructure in Liepaja and Daugavpils. They will be implemented with the European Regional Development Fund co-financing.

Latvia starts Census 2011 second stage with 870 000 households to visit

Today, March 17, Latvia is starting the second stage of population Census 2011 to last up to May 31. Nearly 2 000 interviewers are to visit more than 870 000 households.

Rent in Riga: space rental rates spike 5%-10% this winter

During the winter season, office space rent prices grew by 5%-10% on the rental market; the activity also remained high, according to Rent In Riga rental market report.

New NPPs are crucial for survival

Although after Japan's disaster, the European Union environment ministers consider Europe needs to reassess the safety of the located nuclear power plants, experts are convinced that it is not possible to survive without the nuclear power.

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