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Tuesday 18.09.2018 | Name days: Liesma, Elita, Alita

Rimsevics assumes it could be better to sell airBaltic

Before taking any decisions on what to do with the Latvian national airline AS Air Baltic Corporation (airBaltic), there should be a clearly presented balance sheet with the numbers when the state invests and if it does not, namely, when the airline is put up for sale, says Ilmars Rimsevics, Bank of Latvia President.

Owners of passenger cars crash once in 11 years on average

Each owner of a passenger car happens to be involved in a car accident once in 11 years on average, while owners of trucks - once in six years, according to the Latvian Motor Insurers' Bureau's (LMIB) data based on the number of insurance agreements and their terms.

Bank of Latvia: there is no bad weather, just unskilful captains

Currently, there is an unpleasant feeling that due to the sovereign debt crisis the eurozone's ship is sinking. To find out the actual situation with the debt, it is first necessary to look at reasons causing such an interpretation of events, says Antra Trenko, economist at the Bank of Latvia.

Export unit value grows 13.4%, import unit value – 5.6%

In the second quarter of 2011, the unit value of exported goods spiked 13.4%, while of imported goods – 5.6 % year-on-year.

Latvian traders to lure investors

It is only a matter of time for internationally-known brands to enter Riga and although investors are concerned about the population’s poor purchasing power, currently Riga shopping centres’ turnover is comparable to the one of German trade centres.

10% support revocation of reduced VAT

To obtain 110 million lats for 2012 budget consolidation, 10% of all the economically active population support revocation of the reduced VAT rate.

Bank of Latvia President: we are at crossroads

Latvia is currently at crossroads and decisions on the next year's budget consolidation must be taken as soon as possible, says Ilmars Rimsevics, Bank of Latvia President.

BAS: private shareholder’s investments under threat in airBaltic

After the Cabinet of Ministers’ meeting on Tuesday, August 23, it is clear that the government and the state of Latvia as airBaltic’s shareholder is acting against the airline’s interests, not taking any concrete decisions to solve the situation, according to Baltic Aviation Systems.

Latvia reports the 9th fastest industrial orders surge in EU

In June 2011, the seasonally-adjusted industrial new orders in Latvia were up 9.6%, year-on-year, which is the ninth steepest climb in the EU.

87% of residents dissatisfied with government’s work

Majority (71%) of the population believe that Latvia is heading down the wrong direction. Moreover, given the current political developments, people have become more critical of the government’s work.

Detained Citadele official pleads guilty for asking bribe

Kristaps Putans, now former employee of the partly state-owned bank Citadele, has pleaded guilty for asking a 50 000 euro (LVL 35 000) bribe and accepting part of it, reveals his lawyer Janis Rozenbergs.

Heat to hit Latvia

The weather was still moderately warm earlier this week, however, starting from mid-week, warmer air will flow into Latvia with the south winds, so it will gradually become warmer.

Leading companies recover part of turnover

Businesses operating in metal industry have managed to recover some part of turnover and output they lost in the crisis of 2009, according to the industry representatives.

Ministries to fail in acquiring 30 million lats from EU funds

Latvian ministries are most likely to fail in acquiring 30 million lats they have asked for EU co-financed projects, according to the Finance Ministry.

Swedbank: oil price to drop in coming years

Oil price is already down and it will keep dropping also in the coming years amid better supply and smaller demand, according to Swedbank.