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Saturday 18.08.2018 | Name days: Liene, Helēna, Elena, Ellena, Liena

Experts forecast oil price drops in late 2011

The global economy has not yet recovered enough to bear such high oil prices as at the moment, thus global oil prices could hit 105 dollars a barrel in late 2011, falling down to 98 dollars a barrel in 2012, Swedbank forecasts.

Baltkom finds investor and wants to acquire IZZI

The cable television and electronic communication company Baltkom has announced it abandons plans to merge with the cable TV provider IZZI and now is willing to acquire 100% of its shares.

Housing prices drop 0.7%

In March 2011, housing prices in Riga suburbs hovered around the levels of May 2010, dropping 0.7% on monthly basis. While apartments prices have gained 23.4%, compared to September 2009, according to Arco Real Estate.

Businessmen await FSC-certified wood

Wood manufacturers and wood product buyers are eagerly waiting for the company Latvian State Forests to resume the trade of round timber classified with the Forest Stewardship Council certificate.

Legal persons’ insolvency case initiation becomes costlier

Legal persons’ insolvency case initiation has become more expensive, points out Agnese Kveska, the Chairwoman of the Latvian Certified Insolvency Process Administrators’ Association. She also notes that the number of insolvency processes is dropping.

Saeima Committee conceptually approves 2011 budget amendments

On Wednesday, April 6, the deputies of the Saeima Budget and Finance (Taxation) Committee conceptually approved amendments to the 2011 state budget by majority vote, deciding to forward them for the Saeima review. The amendments provide the state budget expenditure cuts hit 6.8 million lats.

Latvian exports to Germany outpace pre-crisis levels

Last year, exports to Germany totalled 538 million euro, which is the highest indicator in the history of Latvia-Germany relations. In 2010, exports grew 31%, compared to 2009, at the same time exceeding the pre-crisis exports in 2007 by 15%

Number of registered commercial pledges shrinks 8.55%

Over the first quarter of this year, 1 112 commercial pledges were registered with the total maximum amount of claims hitting 2 593.99 million lats. Compared to the first three quarters of 2009, this year the commercial pledge volume has dropped by 8.55%, but the total sum – by 6.24%.

Ober-Haus: stable housing market activity

In March 2011, housing prices remained flat, only with some segments reporting a small increase. The average price of non-renovated serial apartments in Riga residential areas was 577 euro/m2.

Excise tax raise on tobacco – not the only alternative

The National Association of Tobacco Manufacturers (NATM) believes the government’s proposed budget amendments estimates are questionable. It is impossible to meet these amendments now submitted to the Saeima, because experience shows revenues drop and illegal market spikes.

Latvenergo not to collect contractual penalties for payment delays

Latvenergo promises not to calculate fines for households misunderstanding the new tariffs.

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