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Tuesday 19.03.2019 | Name days: Jāzeps

Estonia invests the most in Latvian companies

Similarly as in the previous years, also this year Estonia ranks the first in terms of direct investments in Latvian companies capital.

Industrial output grows 1.4%

In March 2011, the industrial production output at current prices accounted for 401.2 million lats. Compared to February 2011, the industrial production volume in March 2011 has risen by 1.4%, according to seasonally adjusted data at constant prices.

Estonians complain of bureaucracy and protectionism in Latvia

Estonian businessmen are victims of widespread bureaucracy and protectionism in Latvia, says Hele Lõhmus, Chairman of the Estonian Chamber of Commerce in Latvia.

The richest woman in Latvia – Anna Lipmane

The businessman Kirovs Lipmans’ spouse Anna Lipmane is the richest woman in Latvia – the pharmaceutical company Grindex shareholdings worth 22 million lats are registered on her name.

Fitch upgrades Lithuania’s ratings

Fitch Ratings agency has upgraded Lithuania’s outlook from stable to positive, affirming its long-term foreign currency rating is BBB and its long-term local currency rating - BBB+.

Liquefied natural gas terminal could be built in Skulte

As a compromise between Latvia capital city Riga and Ventspils, liquefied natural gas (LNG) terminal could be built in Skulte, as the European Comission has undertaken funding LNG terminal construction in one of the Baltic states.

Parex Bank repays 164 million lats syndicated loan

On May 3, Parex Bank transferred the last 164 million lats installement of the syndicated loan, the bank informed the business news portal BNN.

Russian company manufactures robots in Estonia

Russian company Kvadrat SG manufacturing robots in St Petersburg has announced town in Estonia Narva its new production base, according to the company’s owner Sergey Gadalov.

Pawn shops not to work during night hours anymore

Starting from May 1, 2011 restrictions on pawn shop working time in the dark hours of the day (from 20:00 to 8:00) have entered into force. Similarly, requirements for compulsory pawn shop pledge records have become effective with full transition to electronic pledge registration until January 1, 2012

ABB Group profit spikes 41%

The power and automation technologies leader ABB Group revenues have surged 18%, which is the highest indicator in the past two years. While its net profit rose 41% to 655 million US dollars.

Euribor rise to boost loan payments

The euro interest rate surge expected along with the inflation rise will affect the Latvian economy as well, largely increasing the amount of loan payments.