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Friday 06.12.2019 | Name days: Niklāvs, Niks, Nikolajs

Parex to use reserves at Bank of Latvia to repay syndicated loan

To repay the syndicated loans, Parex Bank has accumulated almost all the necessary financial resources, including its accrued cash reserves at the Bank of Latvia, because further keeping them on the compulsory reserve account has neither economical nor logical grounds.

12.98 million cubic meters of wood felled in Latvia last year

12.98 million cubic meters of wood were felled in Latvia in 2010, of which 7.64 million cubic meters (58.9% of the total volume) were cut in public forests.

Political parties receive huge donations despite crisis

During the recent municipal and European Parliament elections in 2009, several Latvian political parties received illegal contributions or membership fees exceeding 42 000 lats.

End of producers' original goods is near

Proportion of producers' original goods is shrinking at a rapid pace on growing share of store brands, says Skaidrīte Ābrama, senior economist at the Competition Council, stressing they forecast retailers will keep focusing on this.

Expert: construction survives on public, municipal and European projects

Latvian construction sector was able to survive only thanks to public, municipal and European projects, says Ainārs Pauniņš, Latvian Council for Sustainable Construction head and construction company Re&Re Board Chairman.

Finance Ministry: nearly half of shadow economy combat measures implemented

Until April 15, this year, 27 measures have been already implemented of the 60 measures included in the shadow economy combat and fair competition provision plan for the period 2010 – 2013, informs the Finance Ministry.

Latvian new car market soars 131.7%

While in March the European Union reported a drop of 0.5% in the number of registered new cars, compared to the previous March, in the Baltic States this indicator is growing. The biggest increase has been observed in Latvia – 131.7%. In Lithuania the rise in the registered new vehicles comprises 118.8%, in Estonia – 86.9%.

Funding cuts to push public media in bankruptcy

Reducing public media funding would be a wrong decision, as it would not solve the problem, but only worsen the level of public awareness, considers Ābrams Kleckins, Chairman of the National Council for Electronic Media.

Tele2 EBITDA profit shrinks 13%

In the first quarter of 2011, the mobile operator Tele2 turnover amounted to 20.6 million lats, while the operating profit or EBITDA* comprised 6.8 million lats.

Latvians working abroad might not pay income tax gap after all

Latvia Finance Ministry's tax amendments proposal to be passed over to the Saeima provides those working within the borders of the European Union will not have to pay the individual income tax gap.

Bookmakers: Latvia to introduce euro in 2014

Bookmakers approve of Latvia’s chances of introducing the euro in 2014 , giving about 70% odds with a stake coefficient 1.30. Accordingly, the probability of a negative outcome is evaluated with 30% or stake coefficient of 3.20.


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