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Tuesday 18.02.2020 | Name days: Kintija, Kora

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.

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.

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.

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%.

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.

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.

Zatlers supported by 47 Saeima deputies

The President of Latvia Valdis Zatlers is currently supported by 47 Saeima deputies, which is not the majority in the Latvian Parliament. 21 members of the party Unity faction, as well as all the politicians from the association For Good Latvia! are voicing their support, while other parties’ members are still wavering, according to deputies survey by the newspaper Diena.

Loans to be available for every solvent client soon

Although small and medium-sized companies' executives often say the lending in Latvia is too slow; yet, very soon there will be a situation where any solvent client will be able to get a loan, Rietumu banka Council’s Member Aleksandrs Kaļinovskis indicates.

SEB banka branch robbed in Riga

On March 16, SEB banka branch at Mellužu Street in Riga was robbed, the bank’s corporate communications manager Agnese Strazda informed the business news portal BNN.

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.

Fitch upgrades Latvia credit rating

Fitch Ratings has upgraded Latvia credit rating with positive outlook, Swedbank senior economist Dainis Stikuts told the business news portal BNN.

Bank of Latvia made no currency interventions last week

Last week, from March 7 to 13, marked the ninth consecutive week the Bank of Latvia has not bought or sold the euro, according to the information on the bank’s website.

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