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Saturday 21.07.2018 | Name days: Meldra, Meldris, Melisa

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.

Deposit yield four times lower in year and a half time

Within year and a half, deposit yield at the Latvian banks has overall dropped 3.5 to four times, but in the last six months – almost two times. While the interest rates of 12-month deposits in lats currently form only 3.5%, after accounting for 5.5% to 6% last November.

Baltic record prices of milk and sugar – in Latvia

Comparison of food prices in Riga, Vilnius and Tallinn supermarkets shows food is about 38% more expensive in the capital city of Latvia than in its neighbouring states.

Municipalities to employ millions worth unnamed specialists

In late 2010 more than a million lats was paid to Latvian municipalities in advance to promote their administrative capacity.

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.

Nordic Partners Properties: industrial space rent surges 40%

In the first quarter of 2011, the largest industrial park developer in Latvia Nordic Partners Properties rented out or renewed production, storage and office space of 13 368 square meters, which is by 3 785 square meters or 40% more than in the exact period last year, the company’s spokeswoman Lauma Ozoliņa informs the business news portal BNN.

Latvian company Baltrotors employee shoots himself

Latvia town Salaspils company Baltrotors employee attempted to commit suicide today, March 28, and was rushed to the hospital in a very grave condition, according to BNN information.

Construction costs in Latvia drop 0.5%

Compared to January 2011, construction costs in Latvia dropped 0.5% on average in February this year. Costs of machinery and equipment maintenance fell 0.6%, construction materials prices - 0.2% and labour remuneration - 1%.

22 000 state and municipal jobs cut within two years

In the final quarter of 2010, the number of employees working at the state budget-funded institutions and enterprises comprised 185 233 people, which is 8.3% of the total number of inhabitants in Latvia. Within two years the number of the state and local government institutions and capital companies’ workers has decreased by 25.5 thousand people, forming 1% of the total population.

Strongest companies left in construction industry

The small construction firms and companies not accustomed to strategic solutions – how to survive in crisis conditions – have not outlasted the severe crisis, so currently the most strongest and stable construction companies have remained in the market.

Auditor General: Latvenergo tariff is yet another tax

Until the state development vision is not defined, there will be no correct actions regarding the budget or reforms, the State Auditor General Inguna Sudraba indicates.

Mobile communications quality increases

The Latvian mobile communications voice service quality indicators have generally improved, compared to the previous two years, according to the 2010 electronic communications service quality report by the Public Utilities Commission.