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Wednesday 19.02.2020 | Name days: Zane, Zuzanna

Mikelsons not returning to Latvenergo

The former Chairman of the Board of the energy power supply enterprise AS Latvenergo Karlis Mikelsons (Kārlis Miķelsons) will not resume working at the company any more.

Melnā Kafija to export to Finland

After launching a new product under the brand name Arki Mokka, SIA Melnā Kafija (Black Coffee) has embarked on exports to Finland. The new brand and product has been developed in collaboration with the Finland associate, which will promote Arki Mokka product in Finland retail chains.

Traffic offenders to pay about 3.1 million lats in fines this year

This year, during eight months the police has imposed fines on a variety of road traffic offences that comprises approximately 3.1 million lats, which is about 0.73 million lats less than in the corresponding period of 2009, according the data compiled by the Latvian State Police Traffic Control Bureau (TCB).

Additional 75 million lats to be obtained in dividends from state-owned companies

By increasing the yield on state-owned companies’ assets to the level of the European Union (EU), additional 75 million lats would be obtained in state dividends, the Prime Minister Valdis Dombrovskis informed the journalists.

Sudraba: another wave of crisis expected this winter

Only development of stable economical conditions will enable Latvia to exit crisis. Unfortunately, such economical environment is not expected this year, therefore many «bankruptcies could be announced» in the next quarters, assumes the state controller Inguna Sudraba.

Food producers loose turnover but not vigor

Four of Top 30 companies have managed to increase both turnover and profit.

DnB NORD Bank: the growth will continue in 3rd quarter

The improvement is even slightly larger than it was expected; seasonally non-adjusted GDP changes over the second quarter of the last year were 2.1%, instead of 2. 3%.

Estonian economy expanded 3.1% in 2nd quarter

The gross domestic product (GDP) of Estonia increased by 3.1% in the 2nd quarter of 2010 compared to the same quarter in the previous year, according to the estimate of Statistics Estonia.

Demand for real estate grows

In the August the customer activity has increased in the real estate market sector, given that a noticeable growth was seen in commercial segment, informed the real estate company Balsts.

Trichet praises Estonia's eurozone preparations

Jean-Claude Trichet , president of the European Central Bank, said yesterday in Frankfurt that preparations for Estonia's accession into the eurozone were on track.

Analysts: in three years Russian auto market will be the largest in Europe

On the basis of the amount of sold vehicles, the Russian car market could return to the pre-crisis level in the following three years, becoming the largest in Europe.

Budget revenue plan in eight months exceeded by 1.5%

In eight months of the present year, the Budget revenue plan in eight months has been exceeded by 1.5%, according to the State Revenue Service (SRS) data on its administered income implementation.

Local governments require 80% government co-funding for housing benefits

Due to the lack of solutions, the local governments demand 80% of government co-funding instead of the current 20% to enable the provision of heating services.

Zatlers: next year's budget will be an object of speculations until the elections

The issue of the next year's state budget will be nothing more than an object of different speculations until the Saeima elections and actual work will only begin after the elections, admits the President of Latvia Valdis Zatlers.

Notorious TM Security «cleared out» Hotel Elefant by force

The scandalous Hotel Elefant «clearance», when its management and employees were forced to leave, was conducted by the notorious security company TM Security, which had been involved in many scandals already before.

Estonia's current-account surplus increases

Estonia’s current-account surplus widened in the second quarter to 1.33 billion kroons from a revised 676 million kroons in the previous three months, according to BBN the Estonian central bank said today.

GPD increases by 0.8% in second quarter

In the second quarter of 2010, compared to the corresponding period of 2009, the gross domestic product (GDP) has decreased by 2.9%. The seasonally adjusted data of the Central Statistical Bureau of Latvia (CBS) show that, when comparing the first quarter of 2010 with the second quarter, the GDP has increased by 0.8%.

Deflation gradually shrinking

The average price level of consumption prices in August of the present year, as compared with August of the previous year, has decreased by 0.3%

Estonian and Lithuanian insurance companies prosper

In the first half of 2010, the volume of written premiums in Latvian non-life insurance market decreased by 29%, while in Lithuania and Estonia the drop reached 11%.

Non-life insurance price to grow next year

This year the Latvian non-life insurance market, which is influenced by policy prices and their amount, could reduce by 20 - 30%, which is faster than it was initially forecasted (10 - 20%).

Opposition leaves reading of Tallinn draft budget

The Tallinn City Council spent only 17 minutes on the first reading of the draft budget for 2011 for the City of Tallinn because the opposition factions refused to take part in the debate.

Court forbids Munkevics to be elected in Jurmala City Council institutions and posts

Jurmala City Court on Wednesday (September 8) decided to forbid Raimonds Munkevics, who is accused of giving bribes, to be elected in Jurmala City Council institutions and positions. Whereas he is not forbidden to approach Jurmala City Council member Iveta Blaua or other members of the local government.

Prime Minister: if Ministry spendings are not reduced, taxes will be increased

If ministries do not find any possibilities of reducing expenditures, we will have to increase taxes to ensure budget revenue growth. «One thing is clear, something has to be done,» informed the Prime Minister Valdis Dombrovskis.

Savickis: Latvian natural gas policy is absurd

President of the gas company Itera Latvia Juris Savickis considers that fossil fuels will never be cheaper. Drillings have become deeper along with what - the chronologies become more expensive. The result of this that natural gas price increases. This is the reason why Latvia is unlikely to agree with the Russian group Gazprom on beneficial changes related to pricing policy.

Latvia loses forest management certificate

The FSC certificate, which attests forest management accordingly with the requirements of FSC (Forest Stewardship Council), has been terminated, since during this year’s audit deep fissures were found in the soil, the Communication Department Manager of Latvijas Meži ,Tomass Kotovics (Tomass Kotovičs), told in an interview for broadcast Labrīt Latvija.

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