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Sunday 26.01.2020 | Name days: Agneta, Agnis, Ansis

Lithuania Economy Minister steps down

Lithuania Economy Minister Dainius Kreivys decided to resign after Chief Official Ethics Commission announced he was confusing public and private interests. The conflict of interest had already been ongoing for some time.

Triatel profit keeps growing

Telecommunications operator Triatel turned 6 319 000 lats in 2010, posting 986 000 lats profit and outdoing the financial performance of 2009 by 11%, Triatel told the business news portal BNN.

Riga Council opts for 30 million lats more expensive magistral road

Riga Council has approved construction of a high-speed magistral road , which, according to the current estimates, is to cost the most, compared to other two equal variants - it is going to be 30 million lats more expensive than the cheapest of them.

Government to sacrifice debts for budget revenue boost

The government plans granting indebted tax payers an opportunity to settle the basic sum and 10% of the fine, thus cancelling late payment penalty and 90% of the fine, however the perspective of businessmen is different.

Audit set for airBaltic’s financial situation assessment

The government has agreed on carrying out an audit at the airline airBaltic, in order to evaluate the company’s financial condition, because the information received from the airline’s Head is inaccurate and contradictory, recognizes the Prime Minister Valdis Dombrovskis.

Sugar price keeps gaining

As for now, sugar has surged 20% at Latvian stores, compared to 2010. Moreover sugar shortage is raising global fear because sugar price keeps gaining, the leading sugar distributor in Latvia AS Nordic Sugar Retail Manager in Scandinavia and the Baltics Henrik Bramsted says.

Brewers' Association to review industrial espionage in Uzava after official request

Latvian Brewers' Association has not been informed by the breweries Užavas alus (Užavas beer) and Valmiermuižas alus (Valmiermuižas beer) about the fact whether Valmiermuižas alus has really been indulged in industrial spying, Latvian Brewers' Association head Pēteris Liniņš told the business news portal BNN.

Housing prices drop 0.7% since early 2011

In February 2011, prices of serial apartments fell 0.2%. This year in February, the average price of serial apartments amounted to 605 euro/m2. Price surge stopped in October and November 2010, so during the past three months prices have come down slightly.

Annual rate of inflation in Latvia - 4%

Compared to January 2010, consumer prices grew 0.3% in February 2011, including for goods – 0.3% and 0.2% for services. Comparing with January 2010, consumer prices remained flat in February 2010.

Riga Mayor assumes Dalkia might boost its influence in AS Rīgas siltums

French investors Dalkia might increase its influence in the main heat supplier of the capital city AS Rīgas siltums. However, it would not be the block of shares, because the company can only own less shares than the City Council, according to Riga Mayor Nils Ušakovs.

Banker: tax policy should boost business not squeeze it

The state's tax policy should foster business, instead of crashing it, Rietumu banka Council's Member Aleksandrs Kaļinovskis indicates.

Product prices in Latvia approach consumers spending limits

Currently, the Saeima's proposed amendments to the Competition Law will not only reduce the assortment of goods and launch of new products, but also worsen the local production possibilities to compete with imported goods, indicates Noris Krūzītis, the Executive Director of the Latvian Food Traders Association.

Bank of Latvia’s foreign reserves in late February – 5.386 billion euro

Compared to January, in late February 2011, the Bank of Latvia’s foreign reserves have fallen by 1.08% – to 5.386 billion euro (LVL 4.1 billion lats).

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