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Friday 06.12.2019 | Name days: Niklāvs, Niks, Nikolajs

Riga can be fined half a million euro for poor quality air

Last week, air quality was regarded good enough in Riga City Center, however dust particle concentration threshold was exceeded in three days of the period during March 14 and 21, reaching already 20 out of 30 acceptable excessive dust particles concentration in a year.

Growing Nordic countries interest in Estonia’s real estate

While Poland is mainly attracting the so-called new European Union member countries' real estate investors, Estonia continues to be the destination of Nordic countries’ investors, says Olev Mait Makk, the partner of Estonian property group Seven Real Estate Advisors.

Survey: key banking service for new businesses – Internet banks

At the moment, new businesses are mainly focussed on improving costs and operations efficiency. This is confirmed by the fact that in the survey on banking services businessmen singled out the possibility to use the Internet bank as the most important, Nordea Latvia public relations specialist Juhans Rass told the business news portal BNN.

Competition Council head: fine on banks to reduce payment cards system costs

Although the recent banks agreement on commission payments on settlement with payment cards is not a cartel, the fact it lasted a considerable period of time is not economically grounded, which is why they were imposed the fine, Competition Council board chairman Ieva Jaunzeme says.

Shrinking business sector bad debts

Last year, bad debts recovery of 161 077 627 lats was passed over to extra-judicial debt collection, including 29 605 legal persons (B2B) debts totalling 26 337 603 lats and 389 156 private persons (B2C) debts of 134 740 023 lats, according to Latvian-of-Court Debts Recovery Association data based on information provided by the leading companies of the sector.

Financial analyst: don't expect steady growth in Lithuania

Lithuania can look forward to good growth this year with the gross domestic product expected to rise by 5.8 percent, but it won't all be smooth sailing over the next few years, financial analyst Rimantas Rudzkis warned.

Swedbank's employee appropriated money of pensioners and the deceased

The State Police has detained a bank’s employee in Riga, who was born in 1983 and has repeatedly transferred money from deceased persons and pensioners’ accounts to some company’s account, who then transferred the money back to the woman.

Businesses in Estonia can refuse to accept euro cash

The Consumer Protection Board of Estonia has written a letter of concern to the Ministry of Economics over a new regulation, adopted after the euro changover, that gives businesses the right to refuse to accept euro cash.

Head of Farmers Union in Estonia warns: milk prices to rise again

The average price of a liter of milk is likely to rise substantially by summer, the president of the Central Union of Estonian Farmers, Juhan Särgava, has said. Price of raw milk paid to the farmers in the country would probably increase by 15 percent by May.

Prices for new apartments in Estonia slowly rising

The average price of new apartments in Estonia has seen a modest rise since autumn, the real estate broker City24 has found. As of March 18, the asking price for new apartments was 1,408 euros per square meter, three percent more than it was at this time last year.

Riga Traffic to abandon tire locks in city parking

Limited liability company of Riga municipality Rīgas Satiksme (Riga Traffic) is considering to abandon tire locks in Riga city parking in cases drivers have not paid for the parking space or have parked their cars wrong, Riga Mayor Nils Ušakovs says.

Competition Council fines 22 banks 5.5 million lats for cartel

The Competition Council of Latvia (CC) has imposed 22 commercial banks a 5.5 million lats fine for fixing commission payments on ATM services and credit card payments, the CC representative Inita Kabanova says. Swedbank is fined 2.83 million lats and Citadele bank – 1.22 million lats.

Investors start showing interest in Sāga companies

This year, part of Swedbank’s overtaken furniture manufacturer Sāga Group might see a revival, Swedbank's Board Member Daniils Ruļovs admits.


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