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Wednesday 20.02.2019 | Name days: Smuidra, Vitauts, Smuidris

Latvia loses forest management certificate

The FSC certificate, which attests forest management accordingly with the requirements of FSC (Forest Stewardship Council), has been terminated, since during this year’s audit deep fissures were found in the soil, the Communication Department Manager of Latvijas Meži ,Tomass Kotovics (Tomass Kotovičs), told in an interview for broadcast Labrīt Latvija.

Bank of Latvia foreign reserves increased by 4.78% in a month

As compared with the previous month, at the end of this August, the foreign reserves of the Bank of Latvia have increased by 4.78% in a month's time reaching 5.849 billion euros (4.11 billion lats). The most part is formed by foreign convertible currencies.

FCMC to collaborate with CRPC

The Financial and Capital Market Commission (FCMC), a public institution that monitors the financial sector, has entered into an agreement with the Consumer Rights Protection Centre (CRPC), in which it consented on cooperation and a more efficient approach to securing the interests of consumers and financial market participants.

Rīgas satiksme under great credit obligations

Rīgas satiksme total debt formed 118.74 million lats in 2009, which exceeds its current assets 5.8 times.

New electronic payment system for parking to be introduced

In order to avoid further damages to the capital’s parking machines and payments with counterfeited coins, the company Rīgas satiksme intends to make a transition to non-cash settlements.

Gas spot price lower by 30%

This summer's natural gas market spot price might be 30% lower than it is recorded in the contracts.

European Commission promises to support Latvia in negotiations with Gazprom

The European Commission will support Latvia in the negotiations with Gazprom on more beneficial conditions of natural gas supply. It recognizes that natural gas is a strong political weapon in the hands of Russia, announced the European Commissioner for Energy Günther Oettinger.

Entrepreneurs could be excluded from receiving new technology funding

It is possible that many enterprises, who attempt to introduce new technologies in manufacturing, will not be able to receive the money due to limited access to funding.

Egle: we should focus on the reduction of shadow economy

In order to improve the economic situation, it is necessary to concentrate on the public expenditure cuts and reduction of shadow economy, because, currently it is too large, considers the Employers’ Confederation of Latvia (ECL).

Fitch Ratings raises Latvia's credit rating future assessment

International rating agency Fitch Ratings has reestimated Latvia's rating and raised it from negative to stable.

Current account surplus reduces – economy recovers

On account of a significant drop in foreign direct investment companies’ losses, the surplus in the current account of Latvia's balance of payments has decreased in the second quarter of 2010.

In month’s time industrial output increased by 2.3%

The data of Central Statistical Bureau (CSB) indicate that, after comparing the indicators of June and July 2010, the industrial production output, according to seasonally adjusted data at constant prices, has grown by 2.3%.

Online shops recover from crisis; new participants enter market

Online shops in Latvia are gradually recovering from the recession, and more participants are entering the market, pointed out the surveyed industry experts and representatives.

Medicinal expenses to increase by 10 million a year

After the value added tax (VAT) rate of 21% is applied to medicinal products, the inhabitants would be forced to spend at least 10.53 million lats more, informed the public relations specialist of the State Agency of Medicines (SAM), Sanita Skaidra (Sanita Skaidrā).