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Friday 20.07.2018 | Name days: Ramona, Ritma

GDP grows 3.4% in first quarter

If comparing to the first quarter of a year before, Latvian gross domestic product (GDP) expanded 3.4% in the 1st quarter of 2011, influenced by growing industry and trade, but dropping construction and the value of collected taxes.

Insolvent judges do not have to resign

Insolvency status does not prevent judges from legally fulfilling their job responsibilities, according to the Committee of Judicial Ethics findings and the Latvian legislation.

airBaltic commercial director Taskila to become Estonian Air president

airBaltic commercial director Tero Taskila will become the Estonian national airline Estonian Air President, reports Postimees. According to the newspaper, Taskila has just resigned from his post at airBaltic, where he worked for two years.

Tumat: LNG terminal costs to burden consumers

Liquefied natural gas terminal project in Latvia is being assessed also by German investors, who point out there is certain criteria to be met, so that they opt for involving in the project. Estimates suggest LNG terminal construction could drag down natural gas costs 30%.

Latvia's new strategy with EBRD to be clear in September

Latvia's new strategy with the European Bank for Reconstruction and Development will be developed by September this year. It will set the key priorities for future collaboration, Baiba Melnace, head of Finance Ministry Communication Department told the business news portal BNN.

Cido Group losses hit 1.24 million lats

Cido Group net losses of 2010 amount to 1.24 million lats, mostly driven by 0.4 million lats real estate value drop and depreciation of fixed assets - 1.95 million lats.

Average standard apartment prices stable for second consecutive month

The average prices of non-renovated standard apartments in Riga have maintained the previous month’s indicator – 577 euro/ m2 – for the second time this year.

Estonians buy more and more luxury cars

In the first four months of 2011, an increasing number luxury cars has been registered in Estonia.

Two and three-room flats most demanded on Latvia rental market

This April rental market reported the biggest demand for furnished 2-3 room apartments in Riga centre renovated buildings, with the average price of 400 – 500 euro a month for a two-room apartment and from 500 – 600 euro a month for a three-room flat.

Household electricity consumption drops 3%

Last year, the electricity production amounted to 6 627 Gigawatt hours – 19% more than in a year before.

Unauthorized sales of Latvia’s artefacts on Ebay

Antiquities found in Latvia are being illegally sold on the auction site, while the Latvian Public Administration of Cultural Heritage is powerless against such trade.

Parex Bank indicators – neither good, nor hopeful

It is likely that this year the overdue loans of 600 million lats will keep bringing loses of tens of millions of lats for Parex Bank, further reducing its already small capital.

Economists: banks unlikely to push interest rates below 1%

It is unlikely in near future, while the state is struggling with the consequences of the economic crisis, Latvia could return to the fat years scenario with banks reducing interest rates on mortgage and consumption credits below 1%.