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Tuesday 21.01.2020 | Name days: Agne, Agnese, Agnija

Grindex profit last year – 7.1 million lats

Last year, the holding group Grindex turnover comprised 65.1 million lats – an increase of 11.5 million lats or 21.5% more than in 2009. While, in the reference period, the group’s net profit attributable to the parent company’s shareholders accounted for 7.1 million lats – a growth of 3.5 million lats, or 97.2% more than in 2009.

Naftimpeks in fight with Statoil and Neste

Riga port company Naftimpeks conflict with Statoil and Neste on railway tariffs has reached the court, as Naftimpeks is not satisfied with the tariffs rise imposed by both of the Scandinavian capital companies and believes it is ungrounded.

Retirement age to reach 70 years

When assessing the social budget sustainability, it is not excluded that the retirement age could amount to 70 years, the Finance Minister Andris Vilks, DnB Nord Bank economic expert Peteris Strautiņš and Welfare Ministry’s Deputy State Secretary Ingus Alliks say.

Economists: difficult to predict fuel price gains

There is a number of factors to have an impact on future fuel price gains, thus it is very difficult to forecast the price drivers will have to pay, economists say.

Experts: Estonia and Lithuania cannot compete with major Latvian ICT companies

In order for Latvia to become an information and communication technologies giant, this should be formulated as a national task. Despite it would be difficult for it to compete with India or China, Latvia does not at all lag behind other Baltic states that much, moreover, it is even more powerful in some sectors.

OCTA ends year with 2.6 million lats in losses

In terms of OCTA performance indicators, 2010 marked the overcoming of the low point. Although, overall 2010 reported a slight stabilization in the market situation, OCTA insurance sector concluded 2010 with a negative balance –2.6 million lats in losses.

Excise duty rise to boost pack of cigarettes price by 10 santims

Starting from July 1 this year, the excise tax for cigarettes might boost the price of a pack by about 10 santims, including the VAT.

2 067 e-signature users in Latvia

In nearly a month's time, 5 610 persons have applied for an electronic signature (e-signature) on its Internet site, launched on February 1. Out of them, 2 067 are already e-signature users as they have approached a library in Latvia with their application and obtained it.

Latvia’s exports grew record-high last year

In 2010, Latvia’s agricultural and food product exports hit record-high – 818 million lats. Compared to the first half of 2010, exports surged 47% in the last quarter of 2010, totalling 250 million lats, the Agriculture Minister Jānis Dūklavs says.

Number of budget places at universities to drop 10%

Starting from September 1, this year, the number of budget places for first year university students might drop by 600 places, reveals the Education and Science Minister Rolands Broks.

Expert: fuel price to surge 5 santims

It is expected fuel price will increase by five santims due to the increased excise duty rate, value added tax, as well as duties on the state crisis reserve provision, the Head of the Latvian Fuel Traders’ Association Uldis Sakne indicates to the business news portal BNN.

Riga Free Port asks government's help in ice breaking

Long-term frost and thick ice in the Gulf of Riga is disturbing navigation considerably, as it has a negative impact on the companies operating in Riga Free Port. Consequently, Riga Free Port management has appealed for the help of the government.

Swedbank: tax rise to boost inflation

If the scheduled tax increase is approved in the proposed version, it will clearly raise inflation, indicates Dainis Stikuts, the senior economist at Swedbank.

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