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Monday 20.05.2019 | Name days: Venta, Salvis, Selva

Government approves excise tax rise to cigarettes, gasoline and alcohol

Today, March 29, the government of Latvia approved increasing excise tax rate to cigarettes, strong spirits and gasoline. The increased excise will come into force starting from July 1, 2011.

2012 budget to spend 291 million lats less

State base budget expenditures for the next year’s budget are planned to form 3. 017 billion lats, which is 290.9 million lats less than in 2011 budget, according to the Cabinet of Ministers approved base budget expenditure for 2012-2014.

Alfa: situation in special unit has stabilized

Currently, the situation in the special task unit Alfa has returned to normal, the special unit deputy commander Juris Grabovskis recognizes.

Insolvency Law to doom businesses to bankruptcy

The new Insolvency Law that came into force in November last year is not favourable to businessmen, as their chances to resume solvency are limited. Consequently, also companies strong enough to survive are doomed to bankruptcy.

Investors line up for cattle-breeding and green energy investments

There are two areas where investors are now lining up with money – livestock breeding and the green energy, the Economics Minister Artis Kampars points out.

Riga can be fined half a million euro for poor quality air

Last week, air quality was regarded good enough in Riga City Center, however dust particle concentration threshold was exceeded in three days of the period during March 14 and 21, reaching already 20 out of 30 acceptable excessive dust particles concentration in a year.

Swedbank's employee appropriated money of pensioners and the deceased

The State Police has detained a bank’s employee in Riga, who was born in 1983 and has repeatedly transferred money from deceased persons and pensioners’ accounts to some company’s account, who then transferred the money back to the woman.

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.

Mortgage Bank covers all the syndicated loans

The SJS company The Latvian Mortgage and Land Bank has repaid syndicated loans at the extent of 55.5 million euro (LVL 39 mln) from its own funds, The loans were issued by Raiffeisen Bank International AG and Sumitomo Mitsui Banking Corporation.

Zatlers to submit Constitution amendments extending president’s powers

Today, March 16, the President of the Republic of Latvia Valdis Zatlers is to submit Constitution amendments to the Saeima, stipulating more power to the president to nominate candidates for Ombudsman, State Auditor General and Bank of Latvia President posts.

Bloomberg: Baltic economies are growing

The Baltics have survived the painful economic crisis and returned back to growth track, but there is doubt Greece, Portugal, Ireland and Spain will succeed in doing the same. Having struggled the worst economic downfall in the world, the Baltic states have been growing quarter by quarter since early 2010.

Banks have no cunning plans in property market

It is wrong to say banks are artificially boosting or reducing real estate prices, because they do not have any cunning plans regarding this sector and they are forced to purchase the pledged properties at very low prices, Rietumu banka Board Member Aleksandrs Kaļinovskis says.

Latvia wants Lattelecom profit in dividends

The state of Latvia as the co-owner of Lattelecom will propose paying out the entire 2010 profit in dividends, however, an accept is still needed from the part of the other shareholder - Scandinavian telecommunications concern TeliaSonera, Economy Ministry of Latvia state secretary Juris Pūce told.