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Ceturtdiena 21.02.2019 | Name days: Eleonora, Ariadne

Dairy industry representative: people buy price, not product

Dairy production output dropped 15% on average during the past year, according to Latvian Dairy Producers' Central Union's data on February 2011, compared to the same period a year ago. Moreover, people are more carefully assessing what products to choose, turning especial attention to special offers and prices.

Unemployment rate falls 0.1%

In late March 2011, the unemployment rate in Latvia formed 14.4%, dropping by 0.1 percent point, compared to February 2011, the State Employment Agency informs the business news portal BNN.

Auditor General: Latvia - ship without captain

The state is drifting in an unknown direction, because the government has not formulated a specific direction of development, according to the Auditor General Ingūna Sudraba. If a vessel does not have a captain, it cannot possibly have a destination to reach either, she says.

Tariffs could be reduced at the expense of cheap Daugava HPP electricity

An alternative to the much disputed Latvenergo tariffs rise is amending the Electricity Market Law adopted in 2008. This way the river Daugava hydroelectric power plant electricity would be cheaper, thus consumers would have to pay less as well, according to the Public Utilities Commission Board member Edvīns Karnītis.

Banks start writing off debts

Several banks of Latvia have started writing off debts, for example, the state-owned Hipotēku banka (Mortgage Bank) wrote off 57 million lats last year, while Swedbank and its subsidiaries wrote off 147 million lats in 2010.

Stock exchange revokes market supervision over Parex Bank

NASDAQ OMX Riga Stock Exchange decided on Friday, April 1, it is to revoke supervision status applied to AS Parex banka.

Expert: Latvian companies profitability approaches Western European level

Last year, the average profitability of Latvian companies came close to the Western European countries’ level, characterized by moderate long-term profit but focusing less on venture activities with high yield, points out Jānis Hermanis, the financial analyst at Mortgage Bank.

Rīgas siltums profit – 4.2 million lats

Latvian heat supply company AS Rīgas siltums concluded the fiscal year from October 2009 to September 2010 with a turnover of 112 million lats and 4.2 million lats profit. This heating season was an unusually long period (56 days) with outdoor temperatures below zero degrees.

Round timber purchase prices increase 1–6 lats/m3

Procurement prices of both coniferous and deciduous tree saw timber kept gradually increasing in H2 of 2010, due to significant domestic and foreign buyers’ activity.

Macroeconomic indicators index grows 4.1%

Compared to the exact month last year, in February 2011 the macroeconomic indicators composite index at constant prices rose 4.1%.

Latvia debt drops to 37.7% of GDP

Over the two months, the government and local government debt has fallen to 23.8 million lats, with its nominal value comprising 5.056 billion lats or 37.7% of GDP in late February, according to the aggregated data by the Finance Ministry.

About 78 lats paid in micro-tax monthly

In 2011, a single enterprise paid about 233 lats in micro-tax a quarter or 78 lats a month, suggesting that their turnover does not exceed 855 lats a month.

Politicians’ task – creating sense of pride about women with three children

Decreasing number of Latvia’s population is becoming a national security issue. Because the infrastructure, competitiveness and the capacity to meet international obligations depend on the number of inhabitants, indicates one of the association For Good Latvia! leaders Andris Skele, who will further chair the Saeima Demographic Policy Subcommittee.

Norvik Bank made 200 000 lats last year

Norvik Bank posted 200 000 lats profit in the 2010 reporting period, with its assets increasing by 26% up to 587 million lats in late 2010.